Brannon Poe is the founder of Poe Group Advisors and has been successfully transitioning accounting practices since 2003. He is an E&Y alumnus and is a prominent author in the accounting practice field. His most recent work includes the ‘Accountant’s Flight Plan – Best Practices for Today’s Firms’ and ‘On Your Own: How to Start Your Own CPA Firm’, both of which are published by the AICPA.
His latest creation, the Accounting Practice AcademyTM, is a virtual workshop aimed at assisting practice owners transform their accounting practices business strategically, profitably and quickly. A key aspect of the Academy lies within its community environment, an environment that aims to keep owners motivated, accountable, and driven to take action on their key objectives. facing their business.
We were keen to learn more about the Accounting Practice AcademyTM and reached out to Brannon Poe to learn more about this innovative and exciting program.
Q. Who is the Accounting Practice AcademyTM aimed at?
Our ideal client is an ambitious practice owner with annual revenues of less than $3M. It might be a fairly sophisticated practice owner who wants to fine tune or it might be an ambitious owner is who is just getting started. The average revenue of our past sign-ups have been around $900,000 per year.
Q. Why should practice owners take part?
Most accountants work very hard. Many work too hard. If there's one thing we've learned through our M&A work is that no one wants to own a practice long-term that consistently requires heavy hours and provides less than exciting profits. This is a curated, results oriented workshop based on our 1 on 1 coaching model where we’ve helped successful accounting firm owners take their firms to the next level AND work less. Our preview video can be watched here:
Q. How is the workshop delivered and what time investment is required?
Our weekly lessons take about 30 minutes each (give or take). They are delivered online and the content is highly curated. We get right to the point. The lessons can be completed when convenient, but they are only released one at a time so people cannot work ahead. This keeps everyone focused and engaged. (The content is available beyond the workshop period.) There are tools with each lesson that take approximately 30 minutes to complete. The zoom calls with your peers are scheduled for 1 hour...although they could run over or run less. Some lessons will take longer than others but this is the average. The time invested therefore should be about 2 to 3 hours per week.
Q. What can practice owners expect at the end of workshops?
A full roadmap for a total transformation of their firms. Owners will come away with confidence and clarity to take action. Most will have multiple game-changing ideas to implement. Our goal is for people to come away highly focused and aware of their top priorities. If you are looking for a way to make some big strategic moves, this is it.
Q. It can be a lonely and challenging place running your own business. The community aspect appears to be a key component of the Academy. Can you tell us a little more about this and why this is such an important part of the program?
I’ve personally been in a coaching program called Strategic Coach for over 10 years. I’m also in an EO forum (Entrepreneur’s Organization) where I take part in a monthly mastermind. Tapping into the community’s knowledge in a safe environment where you can be candid and open with other owner’s has an incredibly powerful impact on all involved. A group of 5 or 6 accounting firm owners has a wealth of knowledge and experience. Most owners are great at quickly seeing other people’s issues and opportunities, but it’s hard to do that for yourself because it’s too close.
Q. When does it start and what investment is required?
Currently, the investment is $ 4,000. Our first workshop starts on May the 4th, 2020. The May workshop is an abbreviated version because we wanted to give people an earlier opportunity due to the COVID 19 challenge that firms and their clients are facing. The 5 week May workshop investment is offered for $ 2,500. The next workshop starts in July, 2020 and is an 8 week course. The full course has additional modules that cover: 1. Goal setting. 2. The importance of time off. and 3. Marketing.
If you are interested in learning more about the Accounting Practice AcademyTM visit www.accountingpracticeacademy.com