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Case Study

Already Successful Accounting Firm Learns, Innovates and Scales Even Larger

Goals Goals

  • Learn from other large successful accounting firms while being a part of a transparent, professional accounting community
  • Learn new strategies to market and advertise the firm
  • Discover more effective ways to manage firm operations

Key Benefits Experienced Key Benefits Experienced

  • 10X increase in annual revenue since joining
  • Increased value to clients by offering tax planning services
  • Have a turn-key way to train new team members

“Every year 7 Figure Firms comes out with something new to learn that helps make my firm more valuable to clients and helps us produce more revenue.”

NUNO CASTAINCA, CPA CFE

Nuno Castainca is a CPA who owns NLC Financial Services, a multi-service firm located in New Jersey. Founded in 2012, the firm primarily serves business owners, executives and independent professionals. Mr. Castainca and his team focus on tax planning, business advisory, accounting and CFO services. Since joining the 7 Figure Firms program in 2016, the firm has seen a 10X increase in annual revenue. Here is how that was accomplished:

Accounting School Should Never End

Mr. Castainca already had his CPA license and a relatively successful accounting firm before committing to the 7 Figure Firms program, so what made him decide to invest? It was having a mindset that he can always do better and that he’s willing to try new things to improve his practice for his clients and team members.

We were getting a decent amount of leads through referrals, but the Facebook and LinkedIn marketing material really intrigued me,” Mr. Castainca explained. “This program helped me get my LinkedIn strategy up to par and allowed me to try new methods of marketing that I likely would not have done without the clear, concise, step-by-step approach that it gave me.”

While self-confessedly a “D” student of the 7 figure program, Mr. Castainca emphasized that he took an a la carte approach to the program—picking and choosing pieces and parts of it that he liked and implementing the material in his own way. “I know most firms get the best results by doing everything in the program exactly like it’s prescribed, but even with what I might call my ‘lackadaisical’ approach, I’ve still seen incredible results.”

Innovation Inside an Already Successful Accounting Firm

As a perk of being a 7 Figure Firms member, Mr. Castainca was invited to a live event in Fort Lauderdale, Florida where he learned more about tax planning. While he previously gave tax planning advice for free, after attending the event, he understood how to show the client the value of it, sell it, package it and deliver it. He made his first two tax planning sales soon thereafter, each for $25,000.

As Mr. Castainca continues his “education” by staying in the program year after year, he has emphasized several specific things that have made the biggest impact. “Every year there is something new to learn that helps make my firm more valuable to clients and helps us produce more revenue. First it was improving our marketing, then it was introducing tax planning, and now it’s firm management and tax planning software we’re implementing. The point is, this program helps us stay innovating.”

As mentioned, one such innovation has been using software. His entire team uses Corvee Client Collaboration and Corvee Payments as one centralized depository to improve firm operations. In addition, he recently signed up for Corvee Tax Planning software. “I know Corvee Tax Planning is going to be an incredible tool for us,” he noted, emphasizing the features will allow him to quickly and seamlessly calculate tax plans for clients.

As Mr. Castainca dove deeper into the 7 Figure Firms program, he realized there were some things he was good at, but some things he wasn’t so good at. Seeing other firm owners delegating the things they weren’t excelling in helped inspire him to do the same, so he’s now bringing on a sales manager to handle the sales side of the business. The 7 Figure Firms program is going to be a big part of the new sales manager’s onboarding training.

Watching the videos inside the program is a great way for myself and my staff to either affirm what we’re already doing, or to learn a new concept. While there is a ton of great material, for me it’s just about watching a short 5-minute clip and then going to implement it. One new idea or method of doing things can make you huge yearly returns.”

Realities of Scaling an Accounting Firm

We can be our own worst enemy. For example, we doubt ourselves, say we can’t do something…but if you’re willing to learn and work, you can do more than you thought possible,” Mr. Castainca said. “I didn’t become a 7-figure firm working eight hours a day. I had to grind. I had to take the information from this incredible program and use it.”

He went on to say, “Revenue is a byproduct of the value you bring. I stay inside 7 Figure Firms because I continually get value from it, which I can in return bring to my clients. My firm operations are stronger now, and I can realistically scale the firm over the next few years even bigger than I already have scaled it these past four years. I just have to delegate more to let the machine do what it does!”

Mr. Castainca is no longer taking extra money out of the business but leaving the additional profits in the firm to aggressively scale with new hires. As he scales, he won’t be tied down to the firm, meaning he will have the option of being at his kid’s recitals or baseball games, or pursuing his secondary real estate business—or whatever else he decides to do.

If you’re interested in learning more about how to innovate and scale your firm, schedule a call with us today.

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