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From Chaos to Clarity, How Bodhi Business Advisors Added $200K In New Revenue

Firm owner, Lisa’s journey into accounting was not a conventional one. Initially pursuing architecture, financial constraints led her into the world of fast food before a serendipitous suggestion steered her towards accounting. Despite her father’s skepticism, Lisa pursued accounting with fervor, drawing from her childhood exposure to her father’s accounting profession. Her path eventually led her through the corridors of public accounting and corporate America, providing her with invaluable insights into the intricacies of financial management and business dynamics.

A Vision Takes Shape:

Amidst the chaos of the financial meltdown in 2008, Lisa witnessed a stark realization – traditional accounting practices fell short in truly supporting struggling businesses. This epiphany laid the foundation for her entrepreneurial aspirations. By 2017, armed with a clear vision to revolutionize client-centric accounting services, Lisa embarked on her entrepreneurial journey, founding Bodhi Business Advisors.

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BEFORE DREAM FIRMS

Navigating Challenges and Embracing Growth As A Solpreneur

The early days of Bodhi Business Advisors were fraught with challenges typical of any budding accounting firm. Lisa found herself ensnared in a vicious cycle of trial and error, grappling with the nuances of firm management and client acquisition. However, her unwavering commitment to her vision propelled her forward, despite facing setbacks and uncertainties. As the firm gained traction, Lisa confronted a pivotal decision – the need to redefine her service offerings and streamline her client base.

​”And it was just that, that I was dealing with more and more. And I thought, this is not the work I want to do. And I can’t give my business clients that experience that they’re paying for.”

Before partnering with Dream Firms, the absence of consistent marketing efforts left the firm adrift in a sea of uncertainty. With no streamlined processes or procedures in place, Lisa found herself engulfed in a whirlwind of inefficiency and inconsistency. The absence of a robust marketing strategy and operational framework stifled growth prospects, leaving Bodhi Business Advisors struggling to carve its niche in the competitive accounting landscape.

THE DREAM FIRMS INTERVENTION

Enter Dream Firms. Recognizing Bodhi Business Advisors’ potential through the Create Your Dream Firm program, Lisa embarked on a mission to revitalize the firm’s operations and unleash its latent capabilities. Through strategic guidance and proven methodologies, Dream Firms empowered Lisa to chart a new course toward success.

“I mean, it was definitely a difference in revenue, but it just freed up my time to work.”

Crafting Consistency and Clarity:

Lisa first began by instilling a culture of consistency and clarity. By delineating clear processes and procedures, Lisa gained invaluable insights into optimizing her firm’s operational efficiency. The implementation of a robust marketing strategy, spearheaded by a Lead Generation Specialist (LGS), revolutionized Bodhi Business Advisors’ client acquisition efforts, paving the way for a steady influx of discovery calls and virtual coffees.

“Definitely did not have any consistent marketing. Um, I will say that had been the bane of my existence, the albatross around my neck from day one. Um, definitely no consistent marketing, no consistent clients coming in.”

Navigating Firm Evolution Dynamics:

Lisa’s partnership with Dream Firms facilitated a paradigm shift in her approach towards growth dynamics. Embracing a holistic perspective, Lisa prioritized quality over quantity. She started by recognizing the importance of fostering a seamless onboarding experience for new clients.. Through meticulous planning and strategic execution, Lisa achieved a remarkable feat, onboarding three new clients within the first three months of the year, a testament to the efficacy of Dream Firms’ transformative strategies.

Strategic Shifts For Lisa & Her Accounting Firm

Dream Firms’ intervention extended beyond mere operational enhancements, focusing on building a strategic support system to fortify both Lisa and Bodhi Business Advisors’ growth trajectory. Recognizing the need for scalability, Lisa strategically onboarded a part-time bookkeeper to alleviate her workload and enhance client servicing capabilities. And, she has plans to expand further with the addition of an accountant to bolster advisory services, laying the foundation for sustained growth and client satisfaction.

“now the type of clients that I’m working with and, you know, doing bookkeeping tax and advisory, it’s a monthly relationship. I have monthly recurring revenue coming in. I’ve got at the, you know, the minimum, usually about a thousand dollars a month in monthly recurring revenue coming from an individual client”

Recognizing the need to align her services with her dream clientele, Lisa made strategic decisions to refine her service offerings. The transition from traditional tax-centric services to a comprehensive suite of bookkeeping, tax, and advisory services marked a paradigm shift for Bodhi Business Advisors. Shedding the burden of individual tax clients enabled Lisa to focus on high-value business clients, fostering deeper, more meaningful relationships.

THE DREAM CONTINUES

The Transformative Power of The Create Your Dream Firm Program

Amidst the challenges and transitions, Lisa forged a strategic partnership with Dream Firms, a leading consultancy renowned for empowering accounting firms to realize their full potential. Collaborating with Dream Firms provided Lisa with invaluable guidance, enabling her to fine-tune her business model, streamline operations, and unlock new avenues for growth.

“In the first three months, I added about $34,000 in annual recurring revenue to my practice.

The transformative journey of Bodhi Business Advisors epitomizes the symbiotic relationship between vision and strategic intervention. With Dream Firms and the Create Your Dream Firm program as a catalyst for change, Lisa Rachel Leisha navigated the tumultuous waters of uncertainty, emerging triumphant with a reinvigorated sense of purpose and clarity. Bodhi Business Advisors stands as a beacon of innovation and excellence, poised to redefine the contours of success in the accounting domain. Through strategic alignment and relentless pursuit of excellence, Lisa exemplifies the transformative power of partnership in realizing entrepreneurial dreams.

The impact of Lisa’s partnership with Dream Firms reverberated across Bodhi Business Advisors. With a refined service model and strategic focus on her dream niche, Lisa witnessed a surge in profitability and client satisfaction. By cultivating long-term, collaborative relationships with her clients, Lisa transcended the role of a traditional accountant, emerging as a trusted partner and advisor in their business endeavors.

AN UPDATE ON BODHI BUSINESS ADVISORS

From Lisa’s interview, it’s apparent that even only a year with the Dream Firms’ team makes a huge difference. But what about two years? Here’s a quick update on Bodhi Business Advisors and how the foundational work Lisa did paved the way for future successes.

With a little push from the Dream Firms’ team, Lisa took advantage of Q4 momentum and closed a lucrative deal with Build Smart 360 for her niche-branded tax planning package, generating $2,000 in revenue. This win underscores the effectiveness of Lisa’s strategic lead generation efforts, leveraging her established marketing framework to secure high-value clients.

By reframing tax planning as a premium service and establishing clear fee structures, Lisa fortified Bodhi Business Advisors’ revenue streams while maintaining a client-centric approach.

 

Lisa’s decisive move to monetize tax planning services yielded tangible results, with two new high-value clients for $3,200 and $10,000 of tax cleanup work. Her firm has also qualified for the $100K Club Award twice over… meaning she’s generated $200K in new revenue in less than 2 years.

Expansion Of Service Offerings

Bolstered by the successful onboarding of an existing client’s new venture, Lisa expanded Bodhi Business Advisors’ service repertoire, securing a recurring revenue stream of $730 per month for bookkeeping and year-end services. This strategic diversification underscores Lisa’s astute business acumen and proactive approach to client needs. By prioritizing high-value engagements and parting ways with unprofitable clients, Lisa positioned her firm for sustained growth and client satisfaction.

The recent wins and strategic maneuvers showcased by Lisa underscore the firm’s unwavering commitment to excellence and innovation. By leveraging foundational practices established in the Create Your Dream Firm program, Lisa continues to scale new heights, redefining industry norms and setting new benchmarks for success. Bodhi Business Advisors stands poised for continued growth and impact, driven by a relentless pursuit of excellence and strategic alignment with evolving client needs.

Ready to take ahold of your dream accounting firm?


Book Your Discovery Call For The Create Your Dream Firm Program

Getting Started is easier than you think… Marketing for accounting firms can begin with just a single post. And believe it or not, there’s a ton of low-hanging fruit for you to go after.  You probably already have things to post about (you definitely do). Here are 5 examples of potential social media posts for accounting firms.

Everybody has to start somewhere, even if that somewhere is 0. You’d be surprised how quickly you’ll gain followers just by seeking out and interacting with similar content. If you see another business or professional posting content you’re interested in, follow them and reach out letting them know you liked it. And just keep posting… It’s okay to get 0 likes on your posts. If you don’t start putting your firm out there, there will never be any reason for people to follow you.

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We have yet another time saver on our hands… Planful is an AI accounting software that aids in planning, reporting, and analysis. Similar to Docyt, Planful eliminates mundane tasks and automates workflows to help you protect your time (and get home for dinner).  As an added bonus, this AI also has the ability to detect data anomalies and uncover insights into you AND your clients’ businesses. Planful enables continuous planning across your organization. It improves forecast accuracy, optimizes resources, and makes data-driven decisions. Say goodbye to disparate spreadsheets and embrace interconnected finance powered by Planful’s intelligent platform.

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