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Case Study

Accountant Grows a 7 Figure Firm By Developing Accounting Firm Processes

Goals Goals

  • Find ways to scale the firm’s revenue
  • Learn processes to help firm become more self-sustainable
  • Get advice from firm owners who’ve experienced her problems

Key Benefits Experienced Key Benefits Experienced

  • Grew to a staff of eight and can finally take time off away from the business
  • Has become a thought-leader in the accounting nonprofit niche
  • Greater self-confidence in herself and her work

“I started the business to have more time with my family, so now I’m building with accounting firm processes in place to allow for that.”

TOSHA ANDERSON, CPA

Tosha Anderson is the founder and CEO of The Charity CFO, an accounting firm specifically for nonprofit organizations. Her focus is on bringing efficiency, accuracy and clarity to accounting and operations for small to mid-sized nonprofit organizations, while reducing administrative overhead budgets. Here is her story on how she’s gone from a startup accounting firm completely dependent on herself to building a self-sustainable firm.

Getting Into Nonprofit Accounting

Tosha Anderson used to work as the CFO for a nonprofit organization. During that time, she developed a desire for helping other non-profits because she saw a clear gap in the market for affordable, specific accounting solutions for that niche. Ms. Anderson started The Charity CFO in 2016, focusing exclusively on serving non-profit organizations.  

Initially, the plan was to be a part-time contractor and part-time housewife, but the first few months proved to be difficult with no staff and a mountain of weekly work to accomplish. In fact, the early months of the business were described as akin to working in a food truck. “I was responsible for everything. I was flipping the burgers, doing all the operations, all the selling, marketing—the whole shebang,” Ms. Anderson reminisced. “What I realized, though, was that I had to learn to grow out of a ‘food truck’ to become more of a brick and mortar restaurant and ultimately to a franchise if I was ever going to have freedom and time to spend with my family, while still keeping the business running.” 

Needing to find a way to build systems, hire and focus her business to become more of what she dreamt it to be, she invested in the 7 Figure Firms program for support, advice, strategies and tactics to transform her new accounting firm. 

Developing Accounting Firm Processes

While some accounting firms are more focused on growth by adding a multitude of clients or services, Ms. Anderson focused on only one service, with one marketing method, to one specific niche. While she has limited who she serves, it has been a blessing for her firm because she’s been able to become an expert in her space—she knows exactly how to speak to the desires and fears of her nonprofit clients. 

7 Figure Firms helped me crush it on LinkedIn marketing. While most members inside 7 Figure Firms expand their product offerings, I actually cut down my services back to just my core product. I was doing tax returns, consulting, etc. and I realized the more I focused on ONE thing, the more efficient I became,” Ms. Anderson explained.

The 7 Figure Firms program helped me realize a new reality was possible that I had never considered before. I was trying to be a contractor without a team and didn’t fully understand how to become more profitable and successful without hating my life and resenting my career. The program helped with sales, but I really needed guidance—both motivation and processes to put in place in order to grow my firm.

TOSHA ANDERSON, CPA

Building Processes and a Team in an Accounting Firm

“I just didn’t know how to get from ‘here to there’,” Ms. Anderson told us. “How do I go from operator to owner?” While it’s been a process and not something that has happened overnight, Ms. Anderson has gone from a stressed-out, overworked solopreneur making less than $250,000 to a million-dollar firm owner with a staff of eight. The accounting firm processes she now has in place have also allowed her to take vacations without having to worry about the firm unraveling while she’s out.  

I was so exhausted by the time I went into the 7 Figure Firms program that I would have walked on glass in a ring of fire, while balancing a boulder on my head, if that’s what they told me to do. I needed mentorship, and I craved advice from others who have already been through the process of growing their firms. I was sick and tired of being sick and tired,” Ms. Anderson confessed. “The busier I got, the more the quality of my life shrank. I went to a 7 Figure Firms event in Lake Tahoe and decided to hire my first full-time employee and take my firm more seriously.”

The 7 Figure Firms program helped Ms. Anderson hire, develop staff and productize what she does. She was able to be laser-focused on hiring and training skilled team members and developing her firm processes. Meanwhile, she went all-in on becoming consistent in sales through LinkedIn marketing.

I started the business to have more time with my family, so now I’m building with accounting firm processes in place to allow for that,” Ms. Anderson said. “The program helped me get out of my comfort zone when it comes to sales, marketing and hiring.” The pricing tactics have also been huge for Ms. Anderson. She used to go on site for clients and charge by the hour. Today, pricing is more reasonable and fair to her, on her terms. 

Accounting Firm Owner Finally Able to Take Vacation

In June of 2020, Ms. Anderson had the highest revenue in the history of her firm—and she was out of the office for over two weeks. With processes in place and staff trained, she experienced Yellowstone, whitewater rafting in Idaho and took a scenic tour of the Oregon coast all while her accounting firm ran itself. This would not have been possible without the processes she was able to put in place thanks to the 7 Figure Firms coaching program. 

I remember two winters ago, I got the flu. I knew at the time I couldn’t take a vacation because the firm was completely dependent on me, but I realized I couldn’t even get sick because clients were needing things daily that only I was able to provide. I realized if I didn’t build a full team, I’d be tied to the daily tasks inside the business and never be able to take time off. The clients constantly needed me. I started a business for more freedom, not less. I had to start succession planning at all levels of the firm. If something happened to me, clients would be impacted and that wasn’t good.”

When asked to describe the transformation she’s had over the last several years, she explained she has a new confidence about herself. “To have confidence, you need to feel confident, it’s a self-perpetuating thing. This 7 Figure Firms program has helped me feel confident in what I’m doing.”  

As far as any advice to anyone thinking about joining the 7 Figure Firms program, Ms. Anderson said, “Joining this program is a commitment to finding a better solution to what you’re doing now. If I didn’t get into 7 Figure Firms, not only would I not have grown, I would have probably quit and just got a regular job because my family would have resented me for all the hours I would have been putting in.” 

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