Wow! What a conversation this was.
If you look at Jody Grunden’s LinkedIN page, the first thing you’ll notice is “Changing the way people think about accounting”. Listen in and you’ll understand why.
Jody co-founded Summit CPA Group in 2002. Since then, he’s been an early adopter of just about everything that has driven the accounting profession forward. Here is a quick sampling:
- Lost the suit and tie right out of the gate. (His story about Hawaiian shirts will make you smile.)
- Created the first weekly subscription billing firm.
- Adopted remote working in the early 2010’s.
- Created a fully virtual CFO firm.
He just recently merged with Anders CPAs + Advisors, a top 100 firm. He’s surprisingly open about how he’s managed his firm, as well as the deal he struck and why it made sense for all parties involved. They have some exciting and aggressive growth plans! Jody figured out how to create a higher earning potential for himself by merging to capture the growth he’ll be driving. He’s even written a book about that experience called Digital Dollars and Cents: A Virtual CFO’s Playbook to help Digital Companies Create a Financial Roadmap to Success.
This ended up being one of our more lengthy podcasts, but it’s one you won’t want to miss. Jody even went through their entire tech-stack list too!
Watch the podcast here, or take a listen on the player:
Timestamps:
3:20 A bit about Jody
7:00 How Jody started differentiating his practice in 04’
9:00 Starting the forecasting model ( How he had zero accounts receivable!)
13:26 Virtual model switch 2012 era
17:00 Marketing virtual services and gaining virtual staff
21:00 The Hawaiian shirt story
28:00 Tech stack Jody is using
33:00 Merger talk
41:00 Book recommendations
44:00 advice for someone just starting out
P.S. – Whenever you’re ready, here are 4 other ways we can help:
- Seller FAQ: Answers to the questions sellers are asking. From practice value, to timing, we’ve got you covered.
- Strategic Guide to Selling your CPA Practice Video: The how-to of selling a CPA firm.
- Accounting Practice Academy: If you’re looking for benchmarks, our 8-week workshop has a community of established firm owners that will help you get perspective, reduce your owner hours, and raise your bottom line. email ibrennan@poegroupadvisors.com with “APA” and we will fill you in on the details.
- If you want to chat about your exit strategy, email bball@poegroupadvisors.com with “strategy call” or request a call here.
