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Are Your Remote Accountants Thriving? Learn from This Firm’s Game-Changing Approach

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Marcus and Rachel Dillon, hosts of the “Who’s Really the Boss” podcast, have transformed their virtual accounting firm, Dillon Business Advisors, with innovative strategies for motivating remote teams. Their approach reimagines compensation, leadership opportunities, and team engagement in a virtual team. 

In a recent episode, they offered valuable insights for CPA firm owners and accounting professionals looking to thrive in a remote environment.

Incentivizing the Right Behaviors

The Dillons recently overhauled their bonus structure to align more closely with client expectations and give team members more control over their compensation. Previously, bonuses were tied to bringing in new Client Accounting Services (CAS) clients. While this structure helped the firm grow its CAS engagements, the system had limitations. As Marcus explains, “There was some disconnect. People could not calculate what their bonus was going to be at any one point, and they didn’t have control over the sales process.”

The new structure offers each team member a $25 bonus for every client whose financials are delivered by the 15th of the following month. With teams of three serving each client, that’s a potential $75 bonus per client per month. This system directly rewards the timely delivery of financial data, a fundamental client expectation.

The impact was almost immediate. In a client meeting, a Client Service Manager proactively addressed the new system: “We’re going to change up what we issue to you because we’ve got this new incentive plan at DBA, and I get a little bonus if we issue the core financials by the 15th. But some of the budget reports might go out after the 15th, but as close to the 15th as possible.”

To help increase buy-in and address potential concerns, the Dillons used an “optimist/pessimist” activity during the rollout. Team members were paired up and asked to share positive and negative aspects of the new structure. This approach encouraged open dialogue and allowed the Dillons to address concerns directly and immediately.

Fostering Leadership and Expertise in a Virtual Environment

Recognizing the need for clear career advancement paths and leadership opportunities in a remote setting, Dillon Business Advisors introduced two innovative programs: Subject Matter Expert roles and an Onboarding bonus system.

The Dillons designated subject matter experts in three primary areas: accounting, tax, and payroll. These roles come with an additional stipend of about $900 per year. As Marcus explains, “That’s the person. If you’ve got a tax question or an accounting question or a payroll question, that’s who you go to. I’m not saying they know all the answers, but they’re going to help find them. And they’re also going to help educate the team throughout the year.”

The Onboarding bonus system incentivizes efficient client onboarding. Teams can earn up to 50% of the onboarding fee as a bonus, with the percentage decreasing on a sliding scale based on how quickly the onboarding is completed. This encourages team members to streamline the process and quickly get new clients up and running.

The impact of these changes was immediate. In a test run before the full rollout, team members began proactively analyzing new client data and preparing recommendations before the kickoff call. Marcus notes, “What came out of the conversation was, ‘Well, I’m going to go ahead and go into their QBO file and really look at it, really analyze it first. And then I’m also going to proforma their tax returns and look at those ahead of the client kickoff call.’ Then we can make recommendations at the kickoff call versus saying we’re going to look them over in the next few days.”

Investing in Team Engagement: The Power of Strategic Retreats

While innovative compensation structures and career development opportunities lay the foundation for a high-performing remote team, the Dillons recognized the importance of face-to-face interaction. Their solution? Strategic team retreats that complement and reinforce their other motivational strategies.

Dillon Business Advisors’ recent retreat in Florida included a team meeting to roll out new bonus structures and leadership opportunities, followed by group activities like a boat trip to Crab Island. The investment is significant—the recent domestic trip cost about $6,000 per couple or $3,000 per person. However, the Dillons view this as crucial for team performance and retention.

The benefits of these retreats align perfectly to create high-performing remote teams:

  1. They strengthen team bonds and company culture, which is crucial for collaborative remote work
  2. They provide face-to-face time for meaningful discussions and feedback on new initiatives
  3. They increase employee satisfaction and retention, supporting the firm’s investment in talent
  4. They offer a tangible reward for meeting company goals, reinforcing the performance-based culture

At the final dinner, Marcus highlighted each team member’s contributions in front of their colleagues and spouses, reinforcing the appreciation culture. He also provided handwritten cards to each team member, a personal touch that made a significant impact.

Transforming Remote CPA Teams into High-Performing Units

By tying bonuses to client-centric metrics, creating new opportunities for innovation and leadership, and investing in team engagement through retreats, the Dillons have transformed their remote team into a high-performing, self-motivated unit. As Marcus aptly puts it, “If you’re kind of scratching your head on how to make your employees do what you want them to do, throw some dollars where it matters most.”

These strategies drive individual performance by fostering a collaborative culture that consistently exceeds client expectations and contributes to firm growth. With remote work becoming the norm rather than the exception, such approaches are crucial for CPA firms looking to thrive.

As more firms transition to remote or hybrid models, those that can effectively motivate and engage their virtual teams will have a distinct competitive advantage. The Dillons’ experience demonstrates that remote teams can be just as effective—if not more so—with the right incentives and opportunities than traditional office-based teams. Listen to the full episode of the “Who’s Really the Boss” podcast for all the details.

Rachel and Marcus Dillon, CPA, own a Texas-based, remote client accounting and advisory services firm, Dillon Business Advisors, with a team of 15 professionals. Their latest organization, Collective by DBA , supports and guides accounting firm owners and leaders with firm resources, education, and operational strategy through community, groups, and one-on-one advisory.

From Cash Flow Concerns to Acquisition Strategies: Real-World Financial Advisory in Action

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“How do you deliver $2,000 to $8,000 per month in value to your advisory clients?” Many CPA firm owners looking to get into high-level advisory services are looking for an answer to this question. Marcus and Rachel Dillon, hosts of the “Who’s Really the Boss” podcast, answered this question in a recent episode. In short, they take a carefully tailored approach that combines industry knowledge, relationship management, and adaptive communication.

The Art of Tailoring Client Advisory Services

Effective client advisory requires a structured yet flexible approach to client meetings. Marcus, who provides outsourced CFO services for several clients, outlines a framework that allows customization while covering crucial bases: connection time, priority investigation, financial analysis, strategy discussion, and action planning.

“Those five points give a structure to the meeting. Otherwise, the clients might direct the meeting the whole time and let you sprinkle in some words of wisdom,” Rachel explains, highlighting the importance of having a structure, especially with new clients.

The key to successful advisory meetings lies in thorough preparation. Marcus describes his process: “I have a Chrome browser pulled up just for the client. I’ve got three tabs open from the client’s QuickBooks Online file, so I’ve got their balance sheet through today, their P&L, and their AR aging because that’s usually a talking point.”

However, flexibility is equally crucial. As client relationships mature, the approach can become more fluid. Marcus might focus more on immediate concerns or recent financial changes for established clients while still touching on all key areas.

Case Study: Navigating Growth in a Marketing Agency

To demonstrate the power of tailored advisory services, Marcus and Rachel shared a case study of a marketing agency client with an annual revenue of $3-3.5 million. This client was considering acquiring a vendor to bring research capabilities in-house.

Marcus tailors his preparation for this client: “They use Google Sheets, while we use Excel.. So we’ve had to find that balance. He’ll keep his internal stuff and invite us into his Google Sheets for the projections.” It is important to consider disruption to firm workflows when determining if or when to go outside your standard tech stack based on an individual client’s needs.

The advisory meetings focus heavily on cash flow management and acquisition planning. Marcus notes, “We’ve seen pull back in that industry over the last year and a half to two years in response to the overall economy.” To address this, Marcus uses a combination of tools, including QuickBooks Online for historical data and a specialized cash flow tool for 90-day projections.

A key challenge is balancing the focus between core business operations and the potential acquisition. It’s easy for the owner to focus so intently on the acquisition that he neglects sales. But Marcus addresses this by emphasizing the importance of maintaining sales efforts and closely monitoring accounts receivable, even as the client explores growth opportunities.

Case Study: Managing Cash Flow in a Dental Practice

The Dillons’ second case study focuses on a dental practice with an annual revenue of $2.4-2.5 million. This client was experiencing cash flow concerns, presenting a different set of challenges than the marketing agency’s.

Marcus approaches this client’s situation with a deep understanding of the dental industry. He explains, “I looked at distributions and at the P&L. I know collections in his industry are a little bit soft since people aren’t doing some of the elective procedures. But production was about the same and collections were only down about $5,000 compared to last year.”

The advisory approach involves a careful balance of personal and business financial considerations. Marcus knew this client took significant distributions from the company to pay for a home remodel. Marcus notes, “Having that data, I was able to say, ‘Okay,  you’ve pulled out $200,000, in distributions. Did all that go to that remodel project?’ Yeah. Pretty much.” By highlighting how personal financial decisions impact business cash flow, Marcus helps clients understand their financial situation.

Strategic advice for this client includes considering price increases, focusing on AR collections, and considering a membership program as an alternative to accepting traditional dental insurance, where reimbursements continue to go down for doctors and the cost to the insurer continues to increase.

Building Relationships Over Time

Marcus emphasizes the importance of building relationships with clients over time: “It takes about a year, probably a year and a half, to really get comfortable with a client, meeting on a quarterly basis. So I would say 4 to 6 meetings in, you get to know the other person on the other side of the screen and can anticipate their points of concerns.”

As relationships deepen, advisors can anticipate client needs, provide more nuanced advice, and adapt their communication style to best suit each client. For example, Marcus notes that with long-standing clients, he can often predict their concerns before a meeting, allowing for more targeted and efficient discussions.

Key Takeaways for Financial Advisors

So, what can accountants do to replicate Dillon Business Advisors’ success in having advisory-focused client conversations?

  1. Invest in industry-specific knowledge to provide contextual, relevant advice
  2. Build solid and lasting relationships with clients that go beyond numbers
  3. Develop a flexible advisory framework that can be tailored to each client’s needs
  4. Continuously adapt your approach as client relationships evolve

Listen to the full “Who’s Really the Boss” podcast episode featuring Marcus and Rachel Dillon for more practical tips for elevating your advisory services. You’ll hear firsthand accounts of client interactions, learn about specific tools and techniques for enhancing your advisory approach, and gain valuable perspectives on building a successful advisory practice. Whether you’re just starting to offer advisory services or looking to take your existing practice to the next level, this episode offers actionable insights you won’t want to miss.

Rachel and Marcus Dillon, CPA own a Texas-based, remote client accounting and advisory services firm, Dillon Business Advisors, with a team of 15 professionals. Their latest organization, Collective by DBA, is a community for accounting firms to get operational support in strategy, structure, and systems.

Collective by DBA: Revolutionizing Operational Support for CPA Firms

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In episode 14 of the “Who’s Really the Boss” podcast, hosts Rachel and Marcus Dillon reveal Collective by DBA (previously DBA Firm), a revolutionary initiative born from their experience as successful CPA firm owners. The Dillons have navigated the choppy waters of firm management and emerged with a blueprint for success that they’re now sharing with the accounting community.

Collective by DBA isn’t your typical consulting service. It’s a comprehensive support system designed specifically for CPA firm owners looking to overcome common hurdles and achieve sustainable growth. Their approach is simple yet powerful: By providing tailored resources, personalized implementation plans, and a supportive community, Collective by DBA empowers accounting firm leaders to transform their practices and reach new heights of success.

Operational support is at the heart of Collective by DBA’s approach—an often overlooked but crucial aspect of running a successful CPA firm. As Marcus emphasizes, “[Collective by DBA] is operational support for CPA firms. And I just I come back to operations—that’s the keyword.” This focus on operations sets Collective by DBA apart. While many consultants focus on technical accounting skills or marketing strategies, Collective by DBA recognizes that how a firm operates day-to-day is often the difference between struggling and thriving.

Collective by DBA targets firms with revenues between $500,000 and $5 million and 3 to 30 employees. As Marcus explains, “That’s really the core. That’s who we feel called to serve because that’s who we can make the greatest impact on.”

The Three Pillars of DBA Firm’s Support Model

Collective by DBA’s approach is built on three fundamental pillars: structure, strategy, and systems. 

  • Structure forms the foundation, with concepts like their “Team of Three” model providing a framework for organizing staff roles efficiently.
  • Strategy focuses on making smart decisions about the firm’s direction, such as transitioning from relying on seasonal tax work to more stable, recurring revenue streams.
  • Systems emphasizes leveraging technology and processes to streamline operations and improve efficiency.

Key Offerings

Collective by DBA offers a range of resources and services to support CPA firms:

  • Firm resources. Firms that join the Collective Community can download guides, templates, and case studies.
  • Webinars. Regular online sessions are eligible for CPE that cover topics ranging from team management to technology implementation.
  • GRIP (Goal Ready Implementation Plan). This intensive service involves a deep dive into a firm’s current state, goals, and challenges, resulting in a tailored 24-month plan for growth and transformation.
  • Advisors. Collective by DBA team members work closely with firms to implement changes, ensuring lasting positive impact through one-on-one advisory and group facilitation.
  • Community events. Collective by DBA hosts gatherings like their recent Get Together in The Woodlands, Texas, creating opportunities for accounting professionals to learn from each other and share experiences in person.

The Get Together Event

In April 2024, Collective by DBA hosted its first major in-person event, bringing together about 60 firm leaders nationwide. The two-day gathering included presentations from the Dillon Business Advisors and Collective by DBA, peer-led discussions, and the introduction of their GRIP service. Marcus notes, “Unlike many other conferences and events members might go to,  the other attendees are actually leaders in firms. We’re not stacking events with influencers, sponsors, and vendors.”

The Future of Collective by DBA

As Collective by DBA continues to grow, it’s expanding its offerings while staying true to its mission of providing operational support to CPA firms. Recent developments include gaining approval to issue CPE credits and plans to make its GRIP service more widely available.

Rachel summarizes their approach: “We are definitely not a technology company. What we are is very invested in building relationships and positively impacting and transforming the accounting industry. Building relationships and sharing what we’ve learned has been really rewarding and something that gets me really excited.”

For CPA firm owners looking to transform their practice, Collective by DBA is helping to create more efficient, profitable, and sustainable accounting practices by addressing the often-overlooked operational aspects of running a firm. To learn more about their resources and services, visit Collective by DBA and listen to the full episode of the “Who’s Really the Boss” podcast.

Rachel and Marcus Dillon, CPA, own a Texas-based, remote client accounting and advisory services firm, Dillon Business Advisors, with a team of 15 professionals. Their latest organization, Collective by DBA, supports and guides accounting firm owners and leaders with firm resources, education, and operational strategy through community, groups, and one-on-one advisory.

Reimagining Professional Gatherings for Meaningful Learning

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Conference season can be overwhelming for CPA firm owners and accounting professionals. Large industry events often lead to information overload and superficial networking. But what if there was a better way to learn, connect, and grow professionally?

In a recent episode of the “Who’s Really the Boss” podcast, hosts Rachel and Marcus Dillon tackle this challenge head-on. As CPA firm owners and industry consultants, they’ve pioneered an innovative solution: the “Get Together” event model.

The “Get Together” Approach

The Dillons’ “Get Together” events are intentionally small and focused, with only about 50 to 70 people. This intimate setting fosters a collaborative atmosphere that combats the anonymity often experienced at larger events.

Key features of the Get Together include:

  • Round table setup. This encourages interactive discussions and peer-to-peer learning.
  • Advanced study sessions. These allow for deeper exploration of topics in smaller groups.
  • Practical, actionable content. The focus is on real-world application rather than theoretical knowledge.

Rachel explains, “We named it Get Together because it really was a gathering of friends of accounting industry peers who have the same goals and a desire to make their firms a better place to work.” This approach directly addresses the common frustrations with traditional conferences: information overload, superficial networking, and lack of actionable takeaways.

Target Audience and Exclusivity

The Get Together events are designed for firm owners and leaders from businesses with revenue between $500,000 to $5 million and team sizes of 3 to 30. This specificity allows for discussions and content directly relevant to all attendees.

Rachel emphasizes, “What that means is there’s a limited number of seats, and we want to make sure that we are able to be transparent, and we want to make sure that people who appreciate that are in the room.” This careful curation ensures everyone present is there for the right reasons: to learn, share, and grow.

Focus on Strategy, Structure, and Systems

The events cover three main pillars: strategy, structure, and systems (including software). Marcus explains, “Strategy could be as simple as mission, vision, and values, which a lot of people just write off as fluff in their business. But if they don’t have a clear mission, vision, or value statement, it’s so hard to help them steer the ship.”

Regarding structure, the Dillons discuss their “team of three” model, where each client has a dedicated Client Service Manager (CSM), Controller, and CFO. During the structure discussions, attendees dig into roles and responsibilities, workloads, and compensation strategies. 

They focus on tools for systems and software that create efficiencies and improve client and team member experiences.

Marcus notes, “We have some very important people that we are connected to in the software and systems world, and that’s who we partner with. So our events are not full of people trying to sell you stuff. If they’re just there to sell you something, they don’t need to be in the room.”

Maximizing Learning and Networking

To get the most out of any professional event, the Dillons suggest several strategies:

  • Set clear goals and intentions before attending
  • Check the agenda in advance and select relevant sessions
  • Actively network and share challenges/successes with other attendees
  • Take time to reflect and process information during and after the event
  • Prioritize next steps and actionable items post-event

Rachel stresses the importance of actionable outcomes: “If there are no actionable steps out of a conference, I don’t know that I can say it was a success. That next step might just be ‘call this person’ or ‘reach out to this company.’ But if there’s literally not a next step, I don’t know that it was worth the time and monetary investment.”

Maximize Your ROI on Professional Development

The Get Together model is a welcomed alternative to conference fatigue and information overload. By focusing on a specific audience, emphasizing practical outcomes, and providing strategies for effective participation, these events deliver tangible value to every attendee.

As you consider your next accounting conference or professional development opportunity, ask yourself: Are you seeking a flood of information or actionable insights? Are you looking for a room full of strangers or a community of like-minded professionals?

Less can be more in a world of constant noise and information overload. The Get Together model shows that reimagining how we learn, connect, and grow as accounting professionals can lead to more meaningful and impactful experiences. Learn more in the most recent episode of the “Who’s Really the Boss” podcast.

Rachel and Marcus Dillon, CPA, own a Texas-based, remote client accounting and advisory services firm, Dillon Business Advisors, with a team of 15 professionals. Their latest organization, Collective by DBA, supports and guides accounting firm owners and leaders with firm resources, education, and operational strategy through community, groups, and one-on-one advisory.

QuickBooks Online Tests Credit Karma Financing: What Accountants Need to Know

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In a recent Unofficial QuickBooks Accountants Podcast episode, hosts Hector Garcia and Alicia Katz Pollock discussed a significant new development in QuickBooks Online: the integration of Credit Karma financing options. This feature allows QuickBooks users to offer personal loan options to their customers directly through estimates, marking a potential shift in how small business tools operate.

This Feature Is In Testing

Note that this new feature has not yet been released generally. It is currently in beta testing and may not be available to all users. A ProAdvisor discovered it in her client’s file when the client sent an estimate to a customer. In addition to the expected messaging, the customer was invited to take out a loan to pay the invoice.

How It Works

When the QuickBooks user sent an estimate to a customer, they noticed financing offers powered by Credit Karma. In the fine print, the interest rates varied widely, from 8.49% to 35.99% APR with autopay. The loans are provided through a company called Upgrade, potentially allowing Intuit to monetize its $7 billion acquisition of Credit Karma. 

Importantly, this feature will be optional for QuickBooks users. It can be toggled on or off in the account settings, giving businesses control over whether to offer financing to their customers. When enabled, the financing option appears alongside the estimated details when customers view them. 

Potential Benefits and Concerns

This integration could help businesses convert more estimates into paid work by offering customers flexible payment options. As Alicia noted, “If you are somebody who gives high estimates and you know you struggle to have all of your bids accepted, this may be a way of actually getting them paid where you’re getting paid in full right up front.”

However, the hosts also raised some potential concerns:

  1. Privacy: There are questions about how QuickBooks customers’ information might be used to market these loans.
  2. High interest rates: The upper end of the APR range (35.99%) raised eyebrows among the hosts.
  3. Ethical considerations: Accountants may need to consider the implications of facilitating high-interest loans to their clients’ customers.
  4. Customer relationships: Businesses must decide whether offering financing aligns with their customer service approach.

Intuit’s Strategy

This integration is part of Intuit’s broader strategy to leverage its Credit Karma acquisition. By offering financing options within QuickBooks, Intuit aims to create a more comprehensive financial ecosystem for small businesses and their customers.

However, it’s important to note that Intuit does not directly provide the loans. Instead, they likely receive a commission for approved loans, similar to Credit Karma’s existing business model.

What Accountants Should Do

If you or your clients use QuickBooks Online, it’s essential to be aware of this new feature:

  1. Check the settings: Look for the “customer financing” toggle in the Discounts and Fees section of the new invoice experience.
  2. Discuss with clients: If the feature is available, discuss whether offering financing aligns with their business goals and customer relationships.
  3. Understand the terms: Familiarize yourself with the financing options and terms to advise clients appropriately.
  4. Monitor developments: As this feature is still being tested, watch for any changes or broader rollout.

The integration of Credit Karma financing into QuickBooks Online represents a significant shift in accounting software capabilities. While it offers potential benefits for businesses looking to close more sales, it also raises essential considerations about privacy, ethics, and customer relationships. As this feature develops, accountants will be crucial in helping clients navigate this new landscape of embedded financial services. Listen to the full  Unofficial QuickBooks Accountants Podcast episode for the latest information.

Alicia Katz Pollock’s Royalwise OWLS (On-Demand Web-based Learning Solutions) is the industry’s premier portal for top-notch QuickBooks Online training with CPE for accounting firms, bookkeepers, and small business owners. Visit Royalwise OWLS, where learning QBO is a HOOT!