Accounting - Tax Preparation & Planning
Cultivate Advisors Helps CPA Firm Double Revenue, Streamline Operations, and Plan for Growth
Cultivate Advisors Impact
David French, founder of David French & Associates, a CPA firm based in Austin, Texas, sought to improve his firm’s operations and growth potential. Through his partnership with Cultivate Advisors, David experienced a significant transformation in his business.
Cultivate Advisors partnered with David to:
- Enhance Accountability and Structure: David implemented weekly meetings with clear goal tracking and accountability, improving overall team performance. Monthly scorecards and KPIs provided a consistent focus on important business metrics, fostering a culture of accountability across the firm.
- Increase Revenue: By eliminating 20% of unprofitable clients, David’s firm doubled its revenue over two years, positioning the business to reach $10 million in revenue within four years.
- Refine Business Strategy: Through a health and value assessment, Cultivate helped identify strengths in financials and the business model, while also highlighting weaknesses in sales and marketing. This guidance informed their strategic decisions moving forward.
- Plan for Growth: The firm successfully added a new partner and is on track to add another, with a goal of three new partners and a structured buyout plan for David as the founder.
Cultivate Advisors Impact
Challenge
David French, the founder of David French & Associates, a CPA firm in Austin, Texas, was facing a few hurdles as his business grew. While the firm had strong financials and a solid business model, there were some key areas that needed attention, particularly in sales and marketing. They also lacked a clear system for tracking progress and holding the team accountable, making it hard to stay aligned and meet goals.
David first heard about Cultivate Advisors from a wealth management firm they work with. He decided to partner with them, hoping for real, actionable advice without the typical sales pitch.
Solution
David worked closely with his Advisor to address these challenges. The first step was a health and value assessment, which gave the team an honest look at where the business was excelling and where it needed improvement. This process helped David identify the areas that needed focus, particularly sales and marketing.
Some of the key solutions Cultivate Advisors brought to the table were:
- Weekly Accountability Meetings: The team began meeting every Friday to review goals, track progress, and hold each other accountable.
- Monthly Scorecards: With clear KPIs in place, they started tracking performance at both the firm level and individual employee level, which helped improve focus and accountability.
- Streamlined Client Base: They eliminated 20% of clients who weren’t the right fit, which freed up time and resources to focus on higher-value relationships.
These changes helped David and his team work more efficiently and strategically, setting them up for sustained growth.
Outcomes
Since partnering with Cultivate Advisors, David French & Associates has seen impressive results:
- Revenue Growth: In just two years, the firm doubled its revenue and is on track to hit $10 million in revenue within four years.
- New Partners: The firm brought on one new partner and plans to add two more, with a clear buyout plan for David as the founder.
- Better Team Accountability: Regular meetings and tracking metrics created a culture of accountability that helped improve productivity and employee morale.
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