Buying & Growing a CPA Practice

Podcast w/ Jason Ding

Jason Ding 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. Discover how Jason’s bold moves drove exponential growth for his accounting firm.

Accounting Experience Before Firm Ownership

As a kid, Jason knew for sure that he didn’t want to be an accountant. He never wanted to work as hard as his accountant parents did during tax season. As an adult his mindset shifted and he began to get into the same business as his parents. Jason spent 12 years in the industry working as a financial controller or higher in multiple industries including software, transportation, helicopter, corporate retail and construction. Having a background with this much varied experience is certainly helpful for him when running his own CPA firm.

How Much Did the Accounting Firm Grow?

In just over one year from purchasing his practice, Jason more than quadrupled his revenue stream. While this isn’t common, it is something both new and seasoned practice owners could learn from. Bold moves and a well managed plan was essential to this CPA firm’s remarkable growth. Jason took the need for change at his newly acquired firm head on with these key steps:

Key Steps for Firm Growth:

Increase service quality

Work to increase fees and move from hourly billing to a fixed rate model

Use technological advances where applicable

Make systems and processes easier for clients and staff

Honor previous owner’s prices

Accept that you may lose a small percentage of clients *Jason only lost about 5%, the remaining 95% were happy to pay a bit more for better service

Continue to promote and grow clientele and staff

With better service, clientele should grow through word of mouth

Learn More About Purchasing & Growing Your Own CPA Firm

Listen to the CPA firm growth 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 Poe Group Advisors Founder, Brannon Poe’s Accountants Flight Plan! This quick interview may leave you inspired to grow your own firm.

CPA Firm Growth Podcast Highlights

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

4:12 – How Jason decided to purchase a practice

5:20 – CPA firm’s revenue growth

6:30 – Planning the changes you want to implement in your new practice

11:47 – How price increases help grow aCPA practice

15:30 – The biggest threat to accounting right now

17:34 – The opportunities facing the accounting profession

19:00 – How to share knowledge and experience with your clients

20:24 – The best advice Jason Ding has ever received

22:15 – Jason’s recommendation for Brannon Poe’s Accountants Flight Plan!

24:02 – How to get in touch with Jason Ding

More About CPA Firm Owner 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

More About Poe Group Advisors Founder 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.