Good stuff and striking a cord with me. A lot of the things you suggested recently became a necessity when I had a medical event that severely reduced and at times eliminated my ability to work for four months. I'm sure there are many, many others who were forced to go through these exercises as a real necessity. I won't pontificate on how it went and what our experiences are, but it was enlightening to say the least and not just professionally as a firm owner but also as a person, a husband, a father.
Hey mate, I've recently gotten into your channel after someone recommended it at a conference. Appreciate the great content, especially the gags and Hide the Pain Harold getting a featured in most videos
Jason, recently i read "small giants" a book about companies that chose to stay small. I would love to stay at a certain size one day, but I'm worried if I don't keep growing there is to much key man risk at my size. Is there a certain sweet spot you have found where folks are earning "good money" and not one quit or bad employee away from total chaos? Thank you so much for your content, and your "free public consulting". Id happily pay, but you said free so no takebacksies :P
If you think about the “how could I run my firm in 2 hours per week” question, specifically what parts of your biz would remain and do just fine, it highlights that not all sources of revenue are equally tied to labor. Moving towards high leverage ways of making money that aren’t dependent on 1-on-1, traditional client service can mitigate some risk here. Also building some flexibility into fulfillment - for example an outsource group that could pick up capacity at the drop of a hat, or part time team members who could scale up a bit can provide flexibility to don’t get if you’re 100% reliant on traditional staffing. In my case we started selling more AP because we could hire folks to fulfill that work at the drop of a hat. I used to think if I could just get big enough to solve for this, flex work across people we’d be fine. That day never came for me, and of course growing comes with some trade-offs. So more than company size, I’d say optimizing for (1) revenue that’s less tied to scarce labor, and (2) building flexibility in fulfillment, how the work gets done, are the better things to optimize for.
Yeah we cover this more in depth on the pod, this recent one should help get some ideas going ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-CbPCKul_S3I.htmlsi=FzsfjCdtxoUJLMqw
This was filmed pre-haircut era Jason. This marks a thematic turning point where the software showcases and the flagship channel videos actually exist on two parallel timelines. The podcast, on the other hand, serves as the directors commentary and is breaking the 4th wall.
Potentially sad comment. Accounting and business valuation are sister professions. And while you are happy to read/hear how accounting firm runners are radically changing their firms … I don’t read/hear any of that in my valuation world.
@RodBurkert are the challenges in a Valuation firm that different than an accounting firm? If you can’t take these lessons and apply them in your specialty could you become that thought leader?
