Buying a CPA Practice and then growing it-with Jason Ding (podcast)

Jason Ding is our latest guest to sit down for a conversation with Brannon. Jason is a young practice owner who purchased his CPA firm in the Vancouver, BC area through Poe Group Advisors in 2018. Jason is the proud owner of Jason Ding, CPA Inc., which provides accounting, tax and consulting services. What’s really interesting about his story is just how he’s grown his CPA firm since purchasing. He made some very bold moves! Listen in to find out how he went about driving exponential growth.

It’s interesting that Jason even owns a CPA firm today, because as a kid, he knew for sure he didn’t want to be an accountant. Both of his parents were accountants and he vowed to never work as hard as they seemed to during tax season. Later he came around and decided accounting wasn’t so bad! He would spend 12 years in the industry working as a financial controller or higher in multiple industries including software, transportation, helicopter, corporate retail and construction.

In just over one year, Jason has more than quadrupled his revenue stream since purchasing his practice. This isn’t common, but it is something both new and seasoned practice owners could learn from. Jason took the need for change in his purchased practice head on. He immediately told his clients they could expect an increase in quality and while he would honor the previous practice’s prices, he would increase fees and move from hourly billing to a fixed rate model. Even with a new purchase and all of these changes, he only lost about 5% of his clients. The 95% that remain are now happy to pay more for better service. Since then he’s been growing his clientele and staff.

Listen to the podcast to gain more insight into how Jason has so rapidly grown his practice, in some part due to technological changes. Hear how his father’s advice for ‘living within your means’ helped him purchase his own practice at the young age of 34. You may also learn why Jason’s book recommendation is Brannon’s Accountants Flight Plan! This quick interview may leave you inspired to grow your own firm.

 

 

Moments worth mentioning:

1:00 – Jason’s background and how he chose accounting

4:12 – How Jason decided to purchase a practice

5:20 – Jason’s revenue growth

6:30 – How Jason planned the changes he wanted to implement in his new practice

11:47 – Jason explains how price increases helped grow his practice

15:30 – What Jason sees as the biggest threat to accounting right now

17:34 – The opportunities Jason can see facing the profession

19:00 – How Jason shares knowledge and experience with his clients

20:24 – The best advice Jason has ever received

22:15 – Jason’s book recommendation

24:02 – How to get in touch with Jason

 

About Jason Ding: Jason Ding, CPA Inc provides Bookkeeping, Accounting and advisory services. He has over 15 years of corporate accounting, taxation and financial planning experience. Jason spent the last 12 years in Industry before moving into public practice and purchasing a practice listed with Poe Group Advisors. Jason is an extremely well rounded accountant and prides himself on providing excellent service to his loyal client base and being more than just an accountant! Visit www.jasondingcpa.com to find out more.

Contact Jason: info@jasondingcpa.com

 

About Brannon Poe: Brannon is the founder of Poe Group Advisors and has been facilitating successful accounting practice transitions throughout the US and Canada since 2003. Brannon started his career in public accounting as an auditor with Ernst & Young before working for several years in auditing and tax preparation for the regional firm of Elliott, Davis & Company. He is the author of “Accountant’s Flight Plan: Best Practices for Today’s Firms” (published by the AICPA and CPA Canada), “On Your Own: How to Start Your Own CPA Firm,” as well as multiple blogs and the “Accountant’s Flight Plan” podcast.

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