245 Imagine You Just Bought This 7,000 CLIENT FIRM - What Now?

Roll up those sleeves. We are roasting a Firm Today, a 7,000 client firm that a non accountant just bought. And boy, did they step into some things. It's gonna be a fun little experiment to think through. What would you do first if you were in this person's very large, I have to imagine, heavily leveraged shoes. We got ourselves a real fixer upper on our hands. So come on in. Let's take a little break from looking at our own stuff to be judgmental of someone else's stuff. Aw. Man, this is just wild. And to the person who bought this firm, bless your heart. Also, wow. If you're not familiar with this format or if this is your first time joining us, I have a form where people anonymously submit info to me about their firm. And it gives us the chance to put on like the advisor hat. Like imagine you were coaching another firm. I think that's a helpful exercise because we don't have the same blockers when we advise somebody else that we have when we think about our own firms. So I'll run you through all the info about this firm. What I want you to think about is like, what are the first couple of things that you would do as we're going through this? Be thinking about that. In fact, as I get through the firm info, drop a comment like, what is your take on the first couple of things that you would do? I'm curious. Cause there's so many things we could do here. And then I'll share the first few things that I think I would tackle. Okay. Also, if you want to potentially get roasted, I'll put a link to the form down in the show notes and you will anonymously get a whole ton of feedback, not only from me, but from folks in the comments here, folks on social media. If I post details about about it there again, we do it in a way so that they can't be identified. This person actually gave me much more detail than I will share here because it could maybe give some stuff away. All right. This firm does compliance, accounting and bookkeeping. They're the owner. It's a 1.9 million revenue firm in a. What is this, a tier 2 or tier 3 market. Pretty good sized city specialization. Nothing yet. Tax prep makes up about 90% of their revenue. They're trying to pivot into a, into greater specialization. Here's the makeup of the team. They have one senior accountant over open parentheses does everything close parentheses. Four accountants says they're having trouble getting them to do what they want and respect them as the new Owner. Oh yeah. I bought this firm and I don't have an accounting background. Oh, bless. Three admins virtually that I hired Parentheses. They're awesome. Two in person office managers and one virtual bookkeeper. This just sounds like your parents just got divorced when you were 12 years old, you moved across the country and you now have a new family, but you have some siblings back in another place. This just sounds messy. One senior accountant. This is a $1.9 million firm. One senior accountant, four accountants, three virtual admins, two in person office managers and one virtual bookkeeper. I just can't even get my head around that. In fact, you do some back of the napkin math on this. Did I say 1.7 million? This is a $1.9 million firm. I have to imagine. I mean, surely the last owner was doing a lot of technical work. If this firm's running a 35% margin, that's 665k. I don't know. Only really five technical people. Maybe that pencil's out. Okay, here's kind of their annual cadence. All the work is done all at once during tax season. They said. Yes, I know. We're introducing engagement letters next year to get price conversation and payment collection out of the way and introducing summertime advisory. So hopefully we get less questions during tax season. Pricing, it's. It's every bit as juicy as you would expect. Median price, 400 big ones. Out of 7,000 clients, we have 4,000 or so paying under $250. Let's go run that back for you one more time. $1.9 million firm, 7,000 clients with 4,000 paying under 250. Bless your heart. Billing told the final cost. Once we finish the work and if they don't pay, we don't give them their return. Sales and marketing. I am the sales and marketing now. I mainly do forum posts but not a focus right now for us Technology. Before me, there wasn't even a website. I built the website. Currently trying to move the team up the technology knowledge stack. We're on G suite right now using a series of spreadsheets to track everything. Not ideal, but better than before when it was all paper. 7,000 clients. Geez. Wow, wow, wow. Okay, workflow. A tsunami of email shows up and four months later we look up and have more money and more gray hair. This year I'm hoping to fix that. I have a whole process set up for engagement letters. Then get data collection into a Google Drive, then data entry done by offshore. Hopefully this all gets done before they have the in person appointment. Yes, we still do those. We're trying to move it fully online over the next three years. Boy, there's just a whole. You could do a week long podcast series just on that paragraph. I just read pains. Peers dealing with change management, clients complaining because there was no process before and now there is. I've been with this company for 10 years now you're telling me I can't just barge into the senior accountant's office whenever I want? Oh my gosh, that one senior accountant. People can just walk into their office, price increases, they complain to client's gonna client enjoyment. I actually really love running the company. As messed up of a situation as I'm in right now, it's actually really fulfilling and I think we have a bright future ahead of us once we get everything on track. You know what, there's a lot of hate online for non accountants like buying accounting firms and exploring all that stuff. We've talked with Patrick Dichter on this show before, who is a non accountant that's now acquired a few firms. And there are people who have these conversations the wrong way, the wrong way online who are like flippant about it or know absolutely nothing about it. And they're like, I'm just going to do it. It's easy. And then they make everybody mad. And that, that's, yeah, don't be, don't be that person, but this person. I don't have a problem with this, honestly. In fact, maybe we kind of need this because goodness knows there's not enough accountants out there to run accounting firms. Now that being said, I suspect where like 80% of people are going to go with their first tip. Actually, let me, let me pause here. Let me give you just a quick minute to drop a comment before I impact what you would say with like what my suggestions for this firm would be. Okay, I'll sing you a quick song. You're leaving a comment right now. Okay, thanks for the comment. That'll really help in the algorithm. I see this firm and actually it warms the cockles of my heart because my situation was not too dissimilar. In some ways it was maybe better. In some ways maybe it was worse. I bought into a firm that was bigger than this from a revenue standpoint, but boy did it not have 7,000 clients. And I've shared before coming into my firm, there was a huge percentage of client headcount that made up a very small percentage of revenue. And anytime you do that, it's the age old like walking by $100 bill on the Sidewalk sort of thing. If you could pick up one more itty bitty project, well, why would you not do it right? I mean it's not going to be that much work. It's like easy money seemingly. So why would you not just keep amassing those and more and more and more and more and more of them? I'll tell you why you wouldn't because most of the time you can't find seasonal labor. Itty bitty tax returns like this all have to happen a very specific time of the year. And I don't have people lining up around the block to just come work for me a couple months of the year. Also I don't know, I like with each new client it kind of creates more inertia and makes things harder to change. I think it's why the biggest trend we have right now is firms cutting their client list down to like 20% its size and just doubling down on their favorite clients and usually doing kind of full stack accounting, bookkeeping, tax planning, all that stuff on a monthly recurring fee. And what gets cut and from all those firms is all of the clients that this firm is doing like the 4010-40s that they're doing for under $250 a year. That is a huge percentage of this firm. And you know what, like kind of the unfortunate thing is, doesn't somebody have to do all of that work? These clients are all just going to get hot potatoed around until the end of time. The reality is like there's a still a firm to be built around seasonal work. It just comes with a mountain of trade offs. It's going to be really hard to staff it because you can't really justify very simple tax returns, can't really justify the normal argument of getting them to do tax planning and extend because it's like they got a couple of W2s. There's very simple to file. You're not going to be able to charge them what you need to be able to charge to do tax planning and they're not going to want to extend. I would love to see retail tax and like automated productized tax solutions come up market here. Further because firms exactly like this are just going to continue shedding these cheap small projects. But somebody has to do them. And I imagine the bulk of people when they watch this, this is their first tip. Increase your minimum, cut a bunch of the 1040s, right? And that's not bad advice. It's just kind of a bummer that that stuff still has to get done somehow. This episode is sponsored in part by Cloud Accountant Staffing Tax firms Check out this resume. A real resume from a real person that was accompanied by an intro video from this applicant. Two associate's degrees, one in accounting technology, the other in Accountancy. Started doing tax work in 2019. Became a tax associate with a US firm in 2021. Was promoted to a senior tax associate in 22 and a tax manager and team lead in 2023. Work will assert with Intuit ProConnect Tax Pro Series CCH Access Tax Dome Intuit Practice Management Goodness sakes. Tally for QBO0 prepping corporate and personal returns 1065s 990s 1041 goodness sakes. Specialized in equity compensation Year end tax planning. This is a real live resume from a talented tax bro in the Philippines. The Cloud Accountant Staffing placed with a US Tax firm. If you listen to much of my stuff, you know I was building a ton of my team in the Philippines. Super talented people over there totally changed our approach to getting work done. Nice thing about working with them. You can just give them a call, have a conversation, tell them what your needs are. They've got recruiters on the ground the Philippines that'll go out and find folks that are qualified for what you need. You get resumes, you get video intros. You can hop on calls and interview these folks without dropping any money. You only got to pay Cloud Accountant staffing when you agree to hire somebody. So literally you only are going to pay a dime if you got somebody that you fall in love with is going to be great for you. Worst case, you're going to learn a whole bunch about the process of hiring folks offshore. So what do you have to lose honestly? Check out the link in the show notes to learn more. This episode is sponsored in part by Live Flow. I think this is my favorite tagline for live flow. Where QuickBooks Online ends, live flow begins. Aww. Lifestyle gives you the ability to sync a whole bunch of data and reports and all that out to Google Sheets or Excel. Because there's a lot of data captive in QuickBooks Online that you may want to give people access to or you maybe don't want in the QuickBooks file. But even if you just need to get that data out and cut it up different ways, They've got a LIFO's got a Consolidations product that lets you roll up all sorts of company files with different different chart of accounts and something I'm kind of hot on right now that has absolutely nothing to do with Live Flow. But I'M going to include in the ad read anyways is getting away from the traditional month end cycle delivery, getting away from financial statement delivery as being the thing we build deadlines around like, because that ends up being the crunch for your accounting firm, right? Getting the financial statements out by the 10th. Well, what if instead we had something that was not the financial statements? But maybe I don't know what the client actually needed to see because they don't really understand the financials. What if you had a more real time dashboard that was the stuff that was actually actionable for them that they wanted to see, that could be populated on a weekly basis or real time. Or you could use live flow to like pump into a spreadsheet that they use. If they've got this info near real time, then it takes the pressure off. Hey, when are those financials gonna be ready? Right? Which ends up being the bottleneck for your entire accounting firm. Because LifeLow will sync just about any QuickBooks report you want out to your spreadsheets. You can cut that stuff up to do any sort of reporting that you want. Either pulling that data out like when you choose manually, or continuing to sync it out real time on an ongoing basis could be just the thing to get the crunch off that month end close. All right, learn more about lifelong. The link in the show notes, I will say as someone myself who came in as an owner of a, of an 80 year old firm where I didn't have personal relationships with everybody on the client list and all that and I even was fully removed from the client work, so I was pretty emotionally detached from some of these harder decisions. This new owner, they're kind of coming in in a similar context where they have that emotional detachment. There's a degree of that that's really helpful. Now it's probably not complete. It might be too emotionally detached. But the other end of the spectrum is these are all of my personal relationships and making these big hard changes is like unthinkable and really, really difficult. It's the exact same reason why it's easier to criticize somebody else's firm as we're sitting here and be a coach to them and give great clear advice and, you know, parrot a lot of the things I say on the pod and what we hear from, from those that kind of preach best practices. But then you go and look in your own firm and you're like, well it's. In my case, it's hard because of this and that. So I would say this, this new owner, like they can use this to their advantage to a degree. The fact that they don't have this attachment, like stuff changes and that's fine. And sometimes you kind of got to break stuff to take it to a better place. And that's why actually my first move here, my first bit of advice is to be thinking about your people. Anytime you come into a situation where the entire team was hired by somebody else, that's a weird situation. They have an affinity to the person that brought them in. And when they have a new leader, like, that's just gonna be scary. And when you layer in a bunch of change for that person, oh no, you got to go use this new tech. And I'm going to do this thing that's actually going to piss off all of your clients. You're just putting more and more pressure on this person and they're going to be really, really annoyed. So I actually, the first thing that I would do here is align incentives and I would get everybody all together, all the people who work for me and I say, appreciate y', all, but we're going to make a big change. You're all getting paid based on production. Now, I'm going to go down the list of here's what everybody's getting paid right now, and here's the work that you got out the door last year. I'll give you some sort of bump, I don't know, 10% or something like that. If you get all the same work out the door that you did last year, you're going to make 10% more than you did last year. But what I would love for you to do is more and better. So we're going to move to production based pay. Because all the other things that I'm motivated to do, oh man, I'm pretty sure if I do this tech change, it'll make us more efficient. If I do this or that, it'll get more returns out the door. If I do this really hard price increase, it will make us more money. Well, if your incentives aren't aligned with your team on any of those things, man, they are just like bearing the brunt of all of that. Of all of the clients complaining about higher rates, of all of that process change, just smacking them in the face, probably after decades of no change. But if every single project that they did last year now costs, pick a number, 20% more, but they're getting paid on production, you see how that kind of changes things, right? This is such a big part of the struggles accounting firms face with change management is you have all the Big bosses coming through and being like, what do you mean? This is 100 times better. How could this not make you more efficient? But then there's absolutely nothing in it for that person to be more efficient. And so they're like, man, I just. I don't like having to change and do this a different way. And then the manager is like, how can you not see this? How can you not see how much more efficient it is? It's because that person doesn't care how efficient it is. If you're paying somebody to sit in a chair for a certain number of hours, a select few of them will do the things that will make the company more efficient. And I was wired this way. And most leadership and most managers will be wired this way to, like, oh, you just. You always do better because you always do better. And then they become managers, and they're like, why is everybody else not that way? The vast majority of accountants, if you're paying them to sit in a chair a certain number of hours, they will do the work in the way that is most comfortable, not most efficient or most profitable. They will do it in the way that is most comfortable for them, which is, however they did it before the way that they've always done it. And as much as I would like to assume that all the people that work for me are going to have my best interests in mind and. And do everything that they can to line my pockets, it's not until I show them a path to how being more efficient will line their pockets that I can reasonably expect them to see the world the same way I do. And so when you come into an environment like this where everything is new and everybody's going to be P.O. ed about change, the first thing I need to do is get my team on my side, and I get my team on my side by aligning our incentives. The reality is, if we do this, if we make all these changes, this firm should be way more profitable than it ever has been before. And we dunk a lot on legacy firms because all this change management is just so hard. But there's actually a lot of, like, latent untapped profit in old firms, particularly if you're pulling forward the cash cycle. Give you a good example, all this work is billed after the fact, and particularly when you have tax returns that drag on for months and months, three to six months to get them done. If we can, like, make the switch to getting paid up front, Even getting a 50% deposit up front, we're actually pulling the cash cycle of the Entire business forward, particularly if you're doing ongoing work for small businesses where that stuff is normally ever billed once after the tax return is filed. I've acquired business before where we actually got them on a fixed recurring. So they were paying 12 months of the year, the year before the tax return is filed, which effectively pulls the cash forward like 18 months. And so if you're acquiring a firm, when you pull that cash forward 18 months, that is pure profit. If you compare to somebody paying the same thing the next summer, like a year and a half later. Right now this is a one time thing, obviously, and you still gotta be able to pay the bills when you do that tax return, you know, the following summer or something like that. But to bring this back to the staff, all of your changes ought to make this firm wildly more productive and wildly more profitable. So let's get the team on board for that. In that meeting where I sit them down and I say we're gonna go to production pay, I will also walk them through other changes that we should probably do, like increase prices and maybe talk a little bit about workflow. But that's gonna be the hardest thing for them. And just acknowledge clients are gonna be annoyed and we're gonna have a ton of clients that leave and we might even fire some clients. But let me do some quick math for you and show you why this is great for you. Because where this firm is right now, we can make the same money doing about a third the work if we price what we're doing appropriately. How does that sound to you? All making the same money with about a third the work or making 25% more than you've ever made before. If that's where we're starting from and everybody's coming in like with that understanding from the beginning, we're gonna open their minds much more than just saying, well, here's all the things that we have to change. So number one, I'm gonna start with the people, the people that we already have. Number two, I'm going to start work on finding my people. Because the people that you inherit will not be your people. I mean, just think about how this firm is and how, and the, the person who submitted this gave us enough, enough commentary to, so that we know they see, you know, the right ways to run a firm is very, very different than what's actually happening. So you have to imagine that the people who are in this firm do not align with that like new ownership. And that's normal. That's, that's kind of how it always Is like you're not gonna inherit somebody else's family and be perfectly aligned. Aligned. Unless you are extremely aligned with the other owner, which in this case they were not. Now, I struggled with this when I bought a firm and everybody there, almost everybody there, had been hired from somebody else. And there are ways that you can manage that and you don't just burn that to the ground. But what made a massive difference for me was when I was able to start hiring my own people and the things you really gotta look out for. So this is my second thing is start pulling in your own people. The thing you really gotta look out for is what is this next person I'm going to hire's appetite for change and the energy that they can bring to that every single day. If you run a firm and you struggle with change management, you know just how exhausting it can be to be the battery for your entire team and to come back and be all jazzed about doing this new thing that you're just completely convicted is going to be better in every way. And then come back and everybody just be like cool in a meeting. And then nothing changes. So my people are going to be like little batteries running around. Like they're going to be people with motivation to like who are energized by change, which that isn't everybody. Like some folks are energized by change. Some folks, that's just soul sucking for them. I need people who are energized by change so that I'm not bearing 100% of that weight myself. This episode is brought to you in part by Team up, helping you recruit top Filipino accountants without any ongoing monthly fees. The difference between Team up and all the other offshoring options is that Team up helps you hire staff directly. No middleman. You work directly with your new hire in the Philippines. Hire the person, not the company. Guys, gals, gang. Here's just a few reasons to hire directly. You have access to higher level talent. Makes sense. You have complete control over team culture and training. They keep 100% of what you pay them and it's a lot more affordable for you. So you can retain your team for the long term. Team up can source accountants with experience working at US or Australian firms familiar with tools like Zero, QBO and DeX. Also recruit specialist roles. Team leaders, tax specialists, administrative assistants. Thought experiment. What if you had an executive assistant for the first time this tax season just. Just throwing it out there. What would they do? Start at that email video I did on the main channel recently. Get help with that Stanky ol inbox. I digress. Team up recruits these talented folks for a flat one time fee of 4,000 US American dollars. That's it. 4K one time. Somebody at Robert Half just did a spit take. Robert Half reference. We ever going to get Robert Half to sponsor this pod? Not anymore. And they can connect you with an affordable employer of record if you need help with payroll and compliance once you hire that person. Big fan of hiring in the Philippines. You know I did a bunch of that. Check out the link in the description to learn more about Team Up. This episode is sponsored in part by Client Hub. Here's the thing. Here's what's different about Client Hub. Interesting kind of different methodology to building a practice management system is they have built a like a client portal that they say your clients will actually want to use. It's sort of a almost like a side by side workspace where you have your tasks and your client also has their own tasks where you're getting into like largely the same space. There's a whole like firm only side of it that they can't see obviously. But when they log in you can see all the stuff that they can and their portal setup is actually looks pretty much the same way as how you manage your work. And I remember man this was maybe three years ago now where we were running our cast practice in ClickUp and we had just a killer system for managing tasks and getting everything done. And we got to the point where like this would be so much easier if I could literally just send an invite to this client where they could see this same space that we're working out of and they just tackle the stuff that we're assigning to them. But like the only way to do it was with like these guest accounts and there was problems with views being shared and them seeing something that maybe they weren't supposed to see. That's kind of been Client Hubs approach from the beginning. Is like what would a shared space look like where you could come in, do all the stuff that you need to do, have all the tools you need to manage the firm, even cool like AI stuff like generative email they're doing now while also being something that like your client would actually appreciate and actually use because it's an easy place for them to see what you need from them like all rolled up into one space. Reality is most our clients these days like they are using task management systems also. And unfortunately a byproduct of us supporting them is usually stuff they just gotta do for us. So if you're looking for a more collaborative way to get that stuff done. Check out ClientHub recently also did a 5 minute sponsored demo day video on YouTube for Client Hub. So if you want to see me like running through how it works, just pretty silly things in that video, check that one out too. To learn more, I'll put a link to Client Hub. Show notes number three. For me, it's got to be increasing minimums and taking payment upfront. I'm not even going to get fancy with it. I mean, with 7,000 clients, holy geez. Like, my first move is going to be a very broad brushstroke because more important to me than my minimums and taking payment upfront. It's actually going to be, am I aligned with my people now and am I finding new people that are, you know, my people from day one. So rather than getting nitty gritty into a lot of the things that you could do down the road, first brush for me, like, is going to be new. Minimum is pick a number. Like, you don't even have to go that aggressive. 300, 400, 500. And because that's going to be a big change for people, I need them to see the price that it's going to be upfront before they agree to have us do the work. So I'm going to use a tool that will let me put that whole proposal and engagement letter and pricing all up front. And at the very minimum, I'm going to take their payment information so that when the project's complete, as soon as it's complete and I deliver it, I can just pull that payment. So as they're going through the engagement letter, they're setting up a payment method. And then when the work is done, I can pull payment from that payment method as long as the project came in within the scope that we expected. And these tools will let you do like a specific price, It'll let you do like a price range. And when the person agrees to this, they're agreeing to that price or range to let you then pull that money at the end of the project. Now if I want to get aggressive here, I could have people pay me up front or take a 50% deposit up front or something like that. The reality is though, a lot of stuff is changing here, so I probably wouldn't get that extreme on it. I would just tell them, you got to give me a payment method. And then we're completely eliminating AR and even having to invoice after the fact, because we can just pull money when the project's done. And across 7,000 clients. Just think how much time is going into invoicing 7,000 clients. And most of these people are once a year, like tax project clients. Wowee, wow, wow. Now things that I didn't have in my top three, quote unquote, modernizing, positioning. So specificity, nope. Tech, stack, workflow, none of that stuff in my opinion. A firm in this state, it's about the people and it's about making some broad brush strokes. Changes where across 1.9 million in revenue and 7,000 clients, we can make some very basic changes that across all of those will make like a meaningful monetary difference to kind of ensure like the long term health of the firm, but also to put some money back into my team's pocket to where they'll be like, okay, maybe I'll listen to this person. Like maybe they actually are onto something here. Because the reality is they're probably, I mean they're not convicted that you know how to run an accounting firm and you probably don't because you've never actually done accounting stuff before, like the person that bought this firm. But if you can show that, it's like, nope, we were actually more profitable this year even though we dropped a thousand clients, as evidenced by the fact that you made more money this year than you've ever made before. That's a great first step to getting people on your team right now there's 100 things we could do down the road around. Yes, like specificity. Getting away from once a year work, getting away from tax season seasonal work around just like how much potential tax planning revenue you could add across 7,000 clients. I mean we can get 300 clients, a tiny percentage of this. 7,000. We can get 300 clients to do year end tax planning. And this, these engagements averaged, you know, say 800 bucks per tax planning engagement for 300 clients. That's a quarter million almost. I have to imagine with the team you have right now, you probably have enough idle time to do those projects because it's so seasonal that work's going to increase your margins on a $2 million firm like over 10% just by adding in tax planning for only 300 clients. So tons and tons of stuff that you could do here, starting to get into, you know, bookkeeping for your business owners, stuff like that. But anytime you're trying to steer a ship this big with this many clients and a bunch of people on board already, like this isn't a huge number of staff, but you got to start like by keeping things basic coming into My firm, I was known online as like the tech whiz. Like no code guy at the time that was like building all this custom cool stuff. But the reality was in my firm, I had 40 people, I had a big ship I was steering and everything was trade offs. It was like, there are a hundred things here that need to be done, but what is the next one? Because that's actually all that matters. And anytime I would hire people, like by the end I was just, anytime I had to hire somebody, I would post on Twitter and we'd pull somebody into the team from there. Anytime I would hire somebody, I would say, I know that you're. What you're expecting is the Starship Enterprise. And buddy, I can tell you that this ain't that. And that was how it was. But that was still like the best that I could do with, with what I had. And had I gone out and started my own firm the next day, you bet it would have been wildly different. Much more spec. We'd had all the tech stuff all nailed down day one. But the reality is, with what I had, I had to think about, okay, like just what is the next step to take? And I do think a lot of thought leadership totally misses the boat in this regard where there's like these maxims of like, here's the ultimate perfect way to do this. But I'm like, unless you can show me how to get from A to B, I haven't gotten any closer to that, like perfect version, right? And because firms are across such a massive spectrum of what is normal, it can be frustrating to make something that's useful for everybody. Especially if you are an accountant who is into this sort of these progressive ideas and all of that. But kind of working in a very legacy firm, that can be a super frustrating endeavor. By the way, I teased last Thursday, new project that I soft launched last week that is tailor made for accountants like this. If you are stuck in a legacy firm, head over to Jason Careers. We're now placing accountants who want to go to a more progressive firm with other progressive firms in my audience actually had a whole bunch of people come through last week and we're already putting people into better firms. It's actually something I'm quite proud of. Like it might be like one of the coolest things we can actually do with this content, kind of attracting a bunch of people, right? We're helping firms get more kind of kind of progressive and do cool new stuff. But virtually every accountant that will find my content will be working for a legacy firm. Just like this one was, because that's the bulk of firms these days. That was me when I started. I mean, every single firm that I worked for was what I would call now a legacy firm. And so if you're stuck in that position, Jason Careers. That's the website. Check it out. Let's find you a cool, cool firm to go work for before you leave the profession or go to private. Because there's so many radio little small firms, man. Small firms are the best because they can be for a specific type of person. You can be pretty agile and try new stuff and cool tech and all that. But boy, most of us, at one stage, we knew exactly what it looked like to work for that legacy firm, and it wasn't fun. And going out and starting your own thing is not for everybody, right? And so if your options are slog it out at this awful legacy firm because they told you someday you might make partner, let you know a secret, you either won't or it won't happen until they die in their chair. If their options are either that or go do something else entirely because they don't want to start their own firm, that kind of sucks. So to me, this is a solution for folks that don't want to or aren't ready to start their own firm to go to work for a super cool, small, modern firm. I don't know how to talk about this thing. We're doing it. It feels like shilling, but it's also like, this would have changed my life five years ago, like, if I had seen this. Okay, I'm loving these roast affirm things. If you want to get your firm anonymously roasted, complete the form below. You don't have to own the firm. You do have to know, like, revenue, like, general figures like that. I'll put the link in the show notes. It's kind of fun to put that coach hat, that advisor hat on, right? Judge somebody else rather than judge ourselves. That's it for today. Thanks for coming and hanging. We'll see you in the next one.