HOW ACCOUNTING FIRMS SCALED FROM 1.8M to 3M

Christopher Rivera     Feb 05, 2021     2355
HOW ACCOUNTING FIRMS SCALED FROM 1.8M to 3M

Candian CPA Adam Briggs, a CPA who runs Briggs and Associates chartered professional accountants based in Newfoundland and Labrador, Canada. He has grown his firm from $1.8M to $3M in the past 4 years.

HOW ACCOUNTING FIRMS SCALED FROM 1.8M to 3M

If someone told you that an accounting firm scaled from $1.8M to $3M in revenue within 4 years and that all happened organically without acquisitions or mergers, would you believe it?

About ADAM BRIGGS:

Yes, that exactly happened. Candian CPA Adam Briggs, a CPA who runs Briggs and Associates chartered professional accountants based in Newfoundland and Labrador, Canada. He has grown his firm from $1.8M to $3M in the past 4 years. Adam has done all these things without acquisitions - all organic growth through new products to his clients and marketing for new clients. He is growing faster during COVID than ever before.

He is a sole owner and he intends to remain a sole owner as he goes to the next milestone of $10M revenue. Adam started a search from Canada back in 2016 and started to get a handle on what it is he essentially wanted as an accounting firm leader. So a lot has changed since then.Adam was more focused on brand strategy versus lead generation, so that was a little bit different, but at that point they really focused on getting the brand right and getting the target market nailed down.

WHAT WENT RIGHT FOR THEM:

They started creating content, a lot of video content, and creating lots of material/collateral that can continue to give away to people. All with the intent that they wanted to give them away, creating a trust factor for us as an accounting firm.

The goal of Adam was to get turnaround time more improved, and he did it from the 30 day mark to and was able to get the workflow out the door within 7 days. So still their objective is to continue to get work flow in and out within 7 days.

Now, this seemed unlikely, but here's what they did right: 

  • Hired In-house marketing manager.

  • Emphasized more on Digital marketing.

  • More focused efforts on working closely with ‘A’ clients and help them grow

  • Built a team of 7 offshore staff.

  • Began sharing numbers within the team and staying transparent with them on all fronts.

  • Created a unified vision and values on which they would want to build and grow their firm.

He has effectively got a growth of around 70% revenue without increasing the costs. It started with a workflow overhaul (where his goal was to get work in and out in 7 days - which he still does) and now topline revenue growth through marketing and sales. In the words of Adam himself, “We want to build a happy and successful accounting firm and not just a happy firm.”

 

HOW ENTIGRITY HELPED THEM BEING THEIR OFFSHORE PARTNER:

They are a full-service professional accounting firm with a twelve-person team. They've got three people working in their office, two working remotely within Canada and also they have seven people working with Entigrity. Adam has a plan to continue to stay ahead of the curve for now. So they will continue to recruit and attract new offshore staff.

Entigrity being their offshore staffing partner for the past 4 years, have seen them grow very closely. Here's what they also achieved successfully:

  • Able to save 8 hours/week on an average for each of their employees in office.

  • A better work culture and work life balance.

  • Staff taking initiatives, leading some of the tasks and taking ownership.

  • Projects/work gotten on auto mode with least involvement from his side

  • Some level of disruption was expected.

  • Improved TAT (from 30 day to less than 7 days).

We just don’t want to take away any credits from Briggs & Associates. They have been adapters and have always embraced the changes in the right way. What they have done is exemplary for other firms to follow. Check out one of the old testimonials from Adam recommending Entigrity. (Watch Video)

 

 

 

"My practice is no longer confined to a single city, in fact 50% of our clients today are spread nationally. So now I can move from one province to another and build my virtual office there. Building an offshore team has given me the flexibility I wanted". 

                                                                                                                       - Adam Briggs

 


Entigrity™ is a trusted offshore staffing partner to over 500+ accountants, CPAs and tax firms across the US and Canada. Our flexible and transparent hiring model gives helps firms of all sizes to hire staff for accounting, bookkeeping, tax preparation or any other task for 75% less cost. As a firm 'run by accountants, for the accountants', Entigrity captures the hiring needs of accounting firms most precisely, providing staff that works directly under your control and management, still you are left with least to worry about compliance, payroll taxes, overheads or any other benefits.


About The Author

Christopher Rivera

Director, Client Relations

Christopher Rivera, Chris serves as a Director of Client Relations and Business Development at Entigrity. He is an expert at leading and managing teams actively from the front. His expertise in sales, training, coaching, mentoring and influencing combined with his competitive nature makes him a strong leader.  Chris has traveled through the length and width of the country and has spoken with more than five thousand CPAs, understanding their challenges and limitations. On the grounds of that, he can now easily provide opinions and solutions that can be immensely helpful to the professionals. He has also represented Entigrity at a number of major accounting conferences and networking events.

Recent Posts

15 OUT OF THE TOP 100 ACCOUNTING FIRMS COUNTS  ENTIGRITY AS THEIR OFFSHORING PARTNER
  • 96
  • Christopher Rivera
  • Oct 06, 2021
15 OUT OF THE TOP 100 ACCOUNTING FIRMS COUNTS ENTIGRITY AS THEIR OFFSHORING PARTNER

Offshore staffing is seen as a long-term opportunity for expansion, and firms have been welcoming it with open arms!

HOW OFFSHORING CAN TRANSFORM ACCOUNTING FIRMS
  • 121
  • Mike Goossen, CPA
  • Oct 01, 2021
HOW OFFSHORING CAN TRANSFORM ACCOUNTING FIRMS

It's now normal for accounting firms to solve their workforce issues by hiring extra offshore staff. Even the smallest of the firms have started to build their offshore team to minimize the costs.   

KEY ACCOUNTING INDUSTRY AND INSIGHTS UPDATES - OCTOBER 2021
  • 256
  • Christopher Rivera
  • Oct 01, 2021
KEY ACCOUNTING INDUSTRY AND INSIGHTS UPDATES - OCTOBER 2021

Here are the quick updates on the accounting industry for the month of October 2021

Schedule Meeting Schedule free consultation call