How This Firm Owner is Scaling to $3 Million in Revenue w/Louie Vazquez III
In this episode of Growing Your Firm, host David Cristello welcomes back Louie Vazquez III, CEO and founder of Vazquez and Associates. Louie shares his journey of growing his firm from half a million in sales per year to achieving even greater success.
They discuss the sales and marketing strategies that led to this growth and delve into the challenges and opportunities that come with scaling a business. Tune in to gain insights on how to take your firm to the next level.
What You’ll Learn
You will not only learn about the growth and success of Vazquez and Associates, but gain valuable insights into the benefits of shifting to a subscription model, raising your fees, and restructuring pricing at your firm.
- Learn about the different tiers of services offered, the ideal client profile, and strategies for client acquisition.
- The benefits of increasing average order size and profitability in a business.
- Hear how Louie built the structure of the accounting tax staff and the future plans of the firm.
About Louie Vazquez III
Louie is the CEO and founder of Vazquez and Associates. He has achieved significant success in growing his firm, surpassing half a million in sales per year multiple times. His ethos and philosophy revolve around shifting to a subscription-based pricing model to maximize returns for accounting firms.
He believes that packaging services and transitioning to subscription-based services can significantly increase revenue. Louie’s broad achievements and expertise in the accounting industry make him a highly respected and influential figure in the field.
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Scaling to $3 Million in Revenue
In our conversation, Louie discusses the need for accounting firms to evolve their mindset. Initially,he admits to viewing the accounting business as a numbers game, solely focused on acquiring clients for financial gain. However, during the COVID phase, his perspective shifted. He realized that the accounting business encompasses a wide range of services beyond acquiring clients.
Louie then highlights the various services their firm provided during the COVID phase, such as bookkeeping, tax returns, PPP assistance, and payroll management.
This realization led him and his firm to understand that their role should extend beyond providing services for a fee. He emphasized the importance of delivering value and being there for their clients.
Additionally, Louie also notes that newer entrepreneurs are not solely concerned about the cost of services. They seek a partner who can guide them through the complexities of running a business.
This highlights the need for accounting firms to offer more than just basic accounting services and foster a deeper, more collaborative relationship with their clients.
Overall, Louie’s message is clear: accounting firms should evolve their mindset and approach to the business. It is not just about acquiring clients and focusing on numbers. Instead, firms should prioritize delivering value, providing a wide range of services, and being a trusted partner to their clients.
In addition, Louie praises the product and services provided by Jetpack Workflow.
He acknowledges the pivotal role Jetpack Workflow plays in the accounting field and the incredible value the team and product delivers. He also expressed gratitude for the support and assistance Jetpack Workflow provides to firm owners like himself.
We appreciate Louie and the other 6,000+ accountants, CPA’s, and bookkeepers utilizing our accounting workflow platform.
- [00:02:45] Impressive revenue growth.
- [00:04:33] Shifting to a subscription model.
- [00:07:57] Commonalities of the client base.
- [00:10:14] Packaging services for higher fees.
- [00:14:45] The makeup of these 10 staff.
- [00:17:24] Moving to a subscription service.
- [00:20:44] Maximizing returns for accounting firms.
If you’re looking to grow your firm, check out this free resource with a walk-through on how to double your accounting firm.