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 geared toward?
This workshop is geared toward owners who know they have room for improvement and are committed to making some changes to their firms and to their schedules. Our best members are those who are looking to grow their practices AND work fewer hours. Owners who have established firms that may have plateaued at the $300K, $750K, or the +$1M mark and are in need of perspective/direction for the next stage of their firm's lifespan. If you're the bottleneck of your practice (working +2,000 hours) or your cashflow is below 50% of top-line revenue, APA will help you build a game plan to implement your new vision.
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 one-on-one coaching model where we’ve helped successful accounting firm owners take their firms to raise the bottom-line and work fewer hours... not to mention you'll connect with a community of firm owners who are all in the same growth mindset! Check out what our members have to say here:
Q. How is the workshop delivered and what time investment is required?
The workshop is interactive and 100% virtual.
Each week, you’ll need to invest about three hours (give or take.) One hour will go toward watching the Module, one hour will go toward doing the assigned work, and one hour will be for your group Zoom Break-Out Session. Each week, you’ll work through one Module about a specific topic relating to your firm and your game plan. These Modules are made up of a handful of short 5 to 10-minute videos and downloadable tools. You’ll do the work, then meet with your group to help crystalize your plans. The modules focus on a range of specific topics from the “How to” of Price Increases to Time Off. The workshop runs for 8 weeks, and each module is released at the start of the week so you won't be overwhelmed by the workload.
Q. What can practice owners expect at the end of workshops?
Apart from a reduction in owner hours and an increase to the bottom-line, firm owners will come away with a full roadmap for a total transformation. You'll have a community of fellow high-tier firm owners, and maybe most importantly the motivation/accountability to take action you know you need to take. Most members will have multiple game-changing ideas to implement and our goal is for you to come away highly focused on your top priorities.
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?
Most owners are great at quickly seeing other people’s issues and opportunities, but it’s hard to see your own because you’re too close. A group of 5 or 6 accounting firm owners has a wealth of knowledge and experience that provides a huge resource to owners who are trying to manage their business better. To make educated decisions you need benchmarks and multiple perspectives – the community in APA provides those. Most of our member’s favorite part of APA has been the community aspect.
Q. When does it start and what investment is required?
The investment is $5,500 and the workshop dates are posted on our home page at: http://www.AccountingPracticeAcademy.com