If you’ve been following me for a while, you probably know that I started my firm from scratch.
In this episode, I want to share some insight into how my team evolved…
What it looked like when I first started, who my initial hires were (and why I hired them), and how the team was structured when I eventually sold the firm.
Listen below.
0:34 I didn’t have a massive team by most standards. However, I had solid, highly skilled people, which I believe helped me secure a premium when selling my firm.
1:04 When I started Xen Accounting, it was just me, no clients, and a lot of ideas. With hard work, many of those ideas paid off, and I attracted more clients than expected within six months.
1:37 My first hire quit early due to my inexperience. Undeterred, I hired another senior CPA at a higher salary, confident in the need for expertise.
2:26 Bringing on two senior-level resources early on, with low revenues and a young company, was incredibly challenging.
3:09 My firm was a leading cloud-based firm in North America, leveraging tech and automation. To stay ahead, I hired a specialist to handle custom automations and software strategy.
3:43 By 2018, when my firm was acquired, our team had grown to 13 people.
4:21 Basically, I started by building a top-heavy team, which strained margins and cash flow initially but paved the way for scalable growth and a solid foundation later.
