239 Growing From Accountant to Entrepreneur [Part 2] (feat. Scott Scarano, EA)

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Accounting High

316 episodes

6 days ago

Accounting High is the premier practice management podcast for tax and accounting firm owners. Join us for conversations about running a modern accounting practice in the cloud. We are the next generation of accounting professionals questioning the state of the accounting profession.

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239 Growing From Accountant to Entrepreneur [Part 2] (feat. Scott Scarano, EA)

Accounting High

43 minutes 23 seconds

10 months ago

239 Growing From Accountant to Entrepreneur [Part 2] (feat. Scott Scarano, EA)

Episode 239

FACULTY: Scott Scarano, EA and Matt Kid, CPA

CLASS: #Shoperations

In this episode, our substitute teacher, Matt Kidd, continues his interview with Scott Scarano, EA where Scott shares the story of how he grew his accounting firm to $1.3 million with $400,000 in annual cash flow, and became completely removed from daily operations. Scott provides insights into the importance of a strong team, unique hiring methods, and embracing technology and innovation in the firm. He also touches on his passion for rapping, his struggle with growth versus letting off the reins, and his future aspirations for his firm.

📣 Shout Outs: Jason Ackerman, Ron Baker, Jody Grunden, Adam Hale, Shane Mason, Ashley Francis, Summit CPAs, Live Plan, Microsoft Dynamics, Karbon, Engage

⬇️Videos Referenced⬇️

The Model Cloud Accounting Firm (feat. Jody Grunden, CPA)

(https://youtu.be/o7ccvINvvic)

Tax Firm Adding Value with Financial Planning and CAS feat Matt Kidd, CPA

(https://youtu.be/X-_9E-4YBXQ)

Chapters:

00:00 Teaser

01:26 Building the Firm: Client Acquisition and Niche

04:18 Innovative Hiring Techniques

05:52 Embracing Quirkiness: A Rebel Yell

06:22 Influences and Inspirations

08:00 Beginning the EOS Journey

10:03 Remote Work and Management Trust

12:24 Financial Struggles and Turning Points

20:07 Transitioning Out of Sales

22:43 The Live Plan Experiment

24:14 Facing Failures and Employee Turnover

25:10 Reflecting on Advisory Services

26:45 Firm's Financial Status in 2022

27:49 Challenges and Changes in 2023

29:56 Client Management and Team Growth

32:47 Considering Wealth Management

33:17 Balancing Passions and Career

33:36 The Impact of Podcasting and Rapping

37:08 Future Goals and Reflections

37:51 Learning from the Podcast

39:16 Accounting Influencers

39:53 Closing Thoughts and Final Reflections

🔗 Connect With Us On LinkedIn! 🔗

Matt Kidd, CPA

📎 https://www.linkedin.com/in/matthewkiddcpa/

Scotty OKR Scarano

📎 https://www.linkedin.com/in/scottscarano/

Accounting High

📎 https://www.linkedin.com/company/accounting-high/

📎 https://www.accountinghigh.com/

Tags: Shoperations, Accounting High, Accounting, Podcast, Shop Class, Firm Operations, Systems And Processes, Entrepreneur Journey, Firm Growth, EOS, Leadership, Financial Freedom, Scale Business, Scale Firm, Firm Growth