After spending 20 and 30 years respectively at their previous firm, Anna and Gwen made the leap to start Hodges and Hergenrader in October 2023, and the results speak for themselves. In just 18 months, they've built a thriving practice with 177 new clients, $1.7M in revenue, and a team that doesn't work overtime during tax season. They join Rachel and Marcus to share the real story behind their dining room table planning sessions, why they chose to open two offices from the start, and how focusi...
Jul 07, 2025•59 min•Season 4Ep. 14
Rachel and Marcus dive into planning their upcoming Mexico retreat for all 26 Dillon Business Advisors team members and spouses. After surveying their team using Patrick Lencioni's Five Dysfunctions framework, they discovered areas for improvement in conflict resolution and peer accountability that will shape their four-day agenda. The conversation covers everything from budget-friendly international retreats to turning team weaknesses into connection opportunities. Introducing Collective by DBA...
Jun 23, 2025•52 min•Season 4Ep. 13
The traditional 1X revenue multiple for accounting firms is becoming a relic of the past, with some firms now commanding 4-6X EBITDA valuations. This episode explores the difference between selling a client block versus a true business, the rise of private equity platforms, and what really drives firm valuations in today's market. From acquihires to equity rolls, Marcus and Rachel break down deal structures, share real examples, and discuss what sellers need to watch out for in purchase agreemen...
Jun 09, 2025•53 min•Season 4Ep. 12
Rachel and Marcus recap their recent RECHARGE conference, an in-person event for accounting firm owners that fostered deep discussions on KPIs, firm valuations, and incentivizing team performance. They highlight key takeaways including how current M&A deals are structured, the importance of optimizing Google Business Profiles, and practical automation tools that attendees implemented within days. The hosts emphasize the value of prioritizing one or two meaningful improvements rather than att...
May 26, 2025•1 hr 1 min•Season 4Ep. 11
Rachel and Marcus are joined by Amy McCarty to discuss DBA's recent acquisition of a St. Louis-based accounting firm on January 31st - right in the middle of tax season. They explore the challenges of integrating different technology systems, managing team expectations, and maintaining client relationships during this critical period. Despite the timing challenges, the team shares how they've already recouped their down payment in revenue and gained valuable insights about client service, team i...
May 12, 2025•1 hr 2 min•Season 4Ep. 10
Rachel and Marcus discuss the critical period between April 15th and August 15th, which they call "improvement season" for accounting firms. They outline a structured approach to maximizing this time, starting with intentional rest and recovery, collecting team feedback while experiences are fresh, refocusing on core values, and refining processes and client relationships. They emphasize making hard decisions early during this period to test changes during extension season and set the firm up fo...
Apr 28, 2025•54 min•Season 4Ep. 9
Rachel and Marcus discuss the practical steps they took at Dylan Business Advisors to move from 70-hour workweeks to a sustainable 36-hour workweek year-round. They explore how evaluating and exiting non-ideal clients, refining service offerings, and implementing their "team of three" structure created significant capacity in their firm. The conversation covers both immediate relief strategies for overwhelmed firm owners and long-term structural changes that transformed their business while incr...
Apr 14, 2025•59 min•Season 4Ep. 8
Rachel and Marcus discuss the common problem of owners becoming the bottleneck in accounting firms under $3 million. They share their experience implementing their "Team of Three" structure to delegate work effectively, improve client service, and increase capacity without working more hours. They provide practical strategies for identifying your firm's constraints and restructuring your team to break through capacity limitations. Introducing Collective by DBA https://collective.cpa https://www....
Mar 31, 2025•48 min•Season 4Ep. 7
Doug Lewis of The Visionary Group shares insider knowledge on the current accounting firm M&A landscape, revealing how valuation truly works and what buyers prioritize. He debunks common misconceptions about firm valuations and discusses why talent development, fee structure optimization, and understanding your top clients' goals are critical for maximizing your firm's value. The episode delivers practical advice for firm owners considering succession options and emphasizes that every accoun...
Mar 17, 2025•1 hr 2 min•Season 4Ep. 6
Rachel and Marcus pull back the curtain on their recent acquisition of a CPA firm in St. Louis, sharing intimate details about their decision-making process and due diligence approach. They discusses everything from their old-school strategy of sending physical letters to potential sellers, to the critical importance of cultural alignment and preserving DBA's remote-first culture. Through personal anecdotes and practical insights, they reveal how prayer, professional counsel, and careful plannin...
Mar 03, 2025•56 min•Season 4Ep. 5
Recruiting expert John Randolph pulls back the curtain on what it really takes to find and hire great accounting talent in today's market. Through candid discussion of compensation ranges, recruitment timelines, and workplace flexibility, John shares practical insights on why traditional hiring methods often fall short and what firms can do differently. This episode offers both tactical hiring advice and strategic perspectives on building a workplace culture that helps retain top talent, making ...
Feb 17, 2025•59 min•Season 4Ep. 4
Rachel and Marcus dive into how the principles from James Clear's Atomic Habits shaped both their personal lives and their accounting firm's transformation from 2016 onwards. They share three key principles they continue to use: making changes obvious and easy, designing supportive environments, and aligning habits with identity and values. Through candid examples - from their firm's transition to remote work to implementing transparent leadership practices - they demonstrate how small, consiste...
Feb 03, 2025•45 min•Season 4Ep. 3
Rachel and Marcus dive into their approach to goal-setting for 2025, sharing both their firm's strategic objectives and personal development targets. They explore how breaking down larger goals into measurable chunks and establishing multiple layers of accountability helps ensure follow-through, even during challenging periods like tax season. Introducing Collective by DBA https://collective.cpa https://www.linkedin.com/company/collectivebydba Learn More About Dillon Business Advisors https://ww...
Jan 20, 2025•56 min•Season 4Ep. 2
Rachel and Marcus outline the key strategic decisions they're making at their $3M accounting firm as they plan for continued growth in 2025, including streamlining their technology stack, restructuring team capacity, and preparing for potential acquisitions. They discuss how they're managing recent team transitions and implementing new roles like subject matter experts to create advancement opportunities. The conversation provides a transparent look at how they're positioning their established f...
Jan 06, 2025•47 min•Season 4Ep. 1
Attorney Sara Sharp shares her unique perspective on the evolving landscape of accounting firm ownership, compliance challenges, and acquisition trends. Drawing from her experience handling numerous accounting practice deals, she discusses creative alternatives to traditional partnership models, including phantom equity plans that align team member incentives without the complexities of direct ownership. The conversation explores common compliance pitfalls for modern firms with remote workers, t...
Dec 16, 2024•47 min•Season 3Ep. 27
Rachel and Marcus dive deep into their marketing experiments at DBA, including a candid discussion of spending $500,000 on initiatives that didn't quite work out as planned. They share valuable insights about the importance of clearly defining your ideal client and services before investing in any marketing efforts, whether internal or outsourced. The conversation explores their successful strategy of client block exits and how they've ultimately found better growth through nurturing existing cl...
Dec 02, 2024•56 min•Season 3Ep. 26
Rachel and Marcus are joined by DBA team member Lezlie Reeves to share how their firm successfully managed concurrent extended leaves. They share their detailed approach to documentation, training support staff, and maintaining client service standards during extended leave periods. Their experience demonstrates how small firms can create sustainable coverage plans while ensuring team members fully disconnect during parental leave, ultimately leading to improved processes and team growth. Introd...
Nov 18, 2024•52 min•Season 3Ep. 25
Rachel and Marcus dive into how their accounting firm successfully converted two major clients into comprehensive monthly service relationships - one transitioning from annual tax services and another expanding their existing monthly engagement. They break down how establishing trust and proving value over time led these clients to naturally seek out additional services, rather than requiring hard selling tactics. The episode reveals practical insights about client communication, pricing strateg...
Nov 04, 2024•49 min•Season 3Ep. 24
Ben Gabriel joins Rachel and Marcus to discuss the transformative power of peer groups and advisory services for accounting firm owners. They explore how these communities provide a safe space for leaders to share challenges, celebrate successes, and gain valuable insights from others facing similar situations. The conversation delves into common issues like capacity planning and team management, highlighting how collaboration and accountability can drive personal and professional growth in the ...
Oct 21, 2024•55 min•Season 3Ep. 23
Rachel and Marcus dive deep into their firm's evolution of time tracking and practice management, from old-school stamps to modern software solutions. Despite moving beyond billable hour pricing, they discuss how they leverage time data for capacity planning, pricing decisions, and firm valuation, Rachel and Marcus offer practical insights on implementing and refining time tracking processes, balancing efficiency with data-driven decision making in a virtual environment. Introducing Collective b...
Oct 07, 2024•57 min•Season 3Ep. 22
This episode explores the intersection of popular business operating systems like EOS (Entrepreneurial Operating System) and tailored solutions for accounting firms. Christine Nietzke, ODCP shares insights on the benefits and limitations of EOS implementation, while introducing the GRIP (Goal Ready Implementation Plan) approach developed by Collective by DBA. The conversation highlights the value of having a comprehensive blueprint for firm success, emphasizing the role of discipline, organizati...
Sep 23, 2024•53 min•Season 3Ep. 21
Marcus and Rachel introduce Collective by DBA, the evolution of their accounting firm support initiative. They discuss the motivation behind creating this community, its focus on strategy, structure, and systems for firms of similar sizes, and the unique events and resources offered. They emphasize Collective's commitment to fostering meaningful connections and driving lasting change in the accounting industry through peer support and expert guidance. Introducing Collective by DBA https://collec...
Sep 09, 2024•48 min•Season 3Ep. 20
Rachel and Marcus provide an in-depth look at the intricacies of CFO advisory meetings, using real-world examples from a marketing agency and a dental practice. Marcus breaks down the meeting structure, from initial connection to financial analysis and strategic planning, while emphasizing the importance of adapting to each client's unique needs. This episode offers valuable insights for financial professionals looking to enhance their advisory services and strengthen client relationships. Learn...
Aug 26, 2024•57 min•Season 3Ep. 19
Rachel and Marcus offer a comprehensive look at how accounting professionals can make the most of conferences and other learning opportunities. They share insights on navigating large events, creating focused learning experiences, and implementing new knowledge effectively. They cover topics such as team preferences for training, strategies for networking, and tips for turning conference insights into actionable steps. Learn More About Dillon Business Advisors https://www.dillonadvisors.com http...
Aug 12, 2024•58 min•Season 3Ep. 18
In this episode, Marcus and Rachel discuss their recent team retreat to Florida, sharing insights on planning a successful getaway for a virtual firm. They dive into the logistics of organizing a destination retreat and the benefits of bringing team members and their spouses together in person. They also reveal how they used this opportunity to roll out new bonus structures and leadership opportunities, demonstrating how combining business strategy with team bonding can lead to innovative ideas ...
Jul 29, 2024•1 hr 5 min•Season 3Ep. 17
In this episode, Rachel and Marcus dive into the fundamental building blocks of marketing for accounting firms. They discuss how to identify your ideal client, create tailored service packages, and effectively communicate your value proposition. The conversation covers practical tips for managing inbound leads, leveraging your website as a virtual storefront, and utilizing automation tools to streamline your marketing efforts. This episode provides a solid foundation for accountants looking to r...
Jul 15, 2024•53 min•Season 3Ep. 16
In this episode, Rachel and Marcus discuss their experience implementing price increases at DBA in 2024. They share their strategy of presenting clients with updated pricing based on new service packages, while offering loyalty discounts to ease the transition. Despite some client churn, DBA ultimately increased monthly recurring revenue by over $6,000 while serving 15 fewer clients, freeing up capacity for their team. Rachel and Marcus break down the numbers and share valuable lessons for other...
Jul 01, 2024•1 hr 1 min•Season 3Ep. 15
In this episode, Marcus and Rachel dive into the details of DBA Firm, a new venture aimed at providing operational support to accounting firms with revenues between $500k-$5M and 3-30 employees. They discuss the origins of DBA Firm, the key pillars of structure, strategy, and software, and how their own experiences transforming their accounting practice inspired them to help other firm owners. Learn about the resources, events, and support DBA Firm offers to help small-to-mid-sized accounting fi...
Jun 17, 2024•48 min•Season 3Ep. 14
In this episode of the Who's Really The Boss podcast, Marcus and Rachel offer an insightful debrief of their accounting firm's 2024 tax season. They discuss how strategic changes implemented before tax season, such as team restructuring, new hires, and the introduction of new technology, impacted their workflow and client experience. They also share their challenges, successes, and lessons learned, including the importance of investing in team education and adapting to the needs of their clients...
Jun 03, 2024•57 min•Season 3Ep. 13
In this episode, Rachel and Marcus delve into the common pitfalls that accounting firm owners often encounter, sharing hard-earned wisdom from their own experiences. They highlight five critical mistakes to avoid, from building a nightmarish firm instead of a dream one to lacking passion and vision. The discussion also emphasizes the importance of steering clear of the comparison trap, letting go of the pursuit of perfection, and truly resting in a way that rejuvenates mind and body. Chapters (0...
May 20, 2024•43 min•Season 3Ep. 12
