From a Tax Side Hustle to a Full-Service Firm

How A CPA Transformed His Tax Prep Side Practice to a $30K MRR Full-Service Firm

Growing up with parents who owned a tax firm, Alan was exposed to the world of taxes from an early age. Memories of assisting his father in preparing tax returns by hand, visiting clients' homes with tax forms in hand, and witnessing the transformative power of his parents' work left a lasting impression. Initially, Alan resisted the call to entrepreneurship and sought to explore other career paths, but his love for numbers and the desire to help individuals understand and navigate the complexities of taxation remained strong. SPOILER ALERT: they would eventually led him to his dream accounting firm.

Success Snapshot

Armed with a new proactive approach to client acquisition and a new pricing structure, Alan Pruitt was able to transform his soloprenuer tax practice into his dream firm, generating $40,000 per month during the "slow season" and $100,000+ per month during tax season Working closely with his dream clients, anticipating their needs, and identifying opportunities Pruitt Prep CPA accelerated its growth.

In 2022 Alan decided to go full-time with his firm, one year later, his firm was regularly generating $40K MRR. And just two years later, Alan had his first $100K month. By engaging with clients on a regular basis and providing proactive guidance, they delivered exceptional value and achieved better outcomes for both the firm and its clients.

2018

Alan starts Pruitt Prep CPA as a side hustle

Laid Off & Upgraded

While working in corporate accounting, Alan couldn't help but feel the lack of caring and respect for both the employees and the clients. He observed the shortcomings of larger companies, often prioritizing their own interests over the well-being of employees. Witnessing instances of loyal employees suddenly losing their jobs due to decisions made solely in the company's best interest fueled Alan's desire to build a different ent type of organization-one that genuinely prioritized people. And so, in 2018 he quietly started Pruitt Prep CPA as a tax filing side practice. But Pruitt Prep CPA didn't stay quiet for long... In fact, in 2020 his "small" firm hit its first six-figure revenue goal and then doubled it a year later.

Veering Off The Traditional Accounting Path

Though Pruitt Prep CPA had a somewhat traditional start, Alan quickly identified the pitfalls of following in the footsteps of other accounting firms. Alan's initial marketing efforts involved some online advertising, but the majority of his client base grew organically through referrals.

By delivering exceptional service and ensuring clients felt heard and understood, Alan created a positive reputation that generated word-of-mouth referrals. The complexities of accounting and taxation can be overwhelming for many, and Alan's ability to simplify and streamline the process helped differentiate his firm from the competition.

I'd done a little bit of online advertising, just trying to get my name out there. But a lot of it was, you know, natural referrals.

Recognizing the potential for growth beyond tax returns, Alan sought to shift his firm's focus from reactive to proactive client support. This shift involved guiding clients throughout the year and providing valuable insights and advice beyond the scope of tax return preparation. By becoming proactive, Alan aimed to achieve better outcomes for his clients while also increasing the value of the services his firm offered.

Pruitt Prep Finds Dream Firms

Inspired by his desire to be more proactive and provide comprehensive year-round support, Alan began the search that would revolutionize his accounting firm. In his pursuit of a program that would support his firm's transition to a proactive model, Alan encountered a less-than-ideal experience with a previous provider. Skeptical but willing to give it another try, Alan finally connected with our founder, Tyler and joined the Create Your Dream Firm program.

Inside the program, Alan discovered strategies and resources that propelled his firm to new heights. Understanding the need for continuous improvement, Alan transformed his firm's services and expanded its reach.

January 2022

Digital coffees lead to 2 new clients, 1 for $3,000 a year &

Problem #1 SOLVED: Transition From Tax Preparer To Highly-Sought After Niche Advisor

Alan's transition from a tax preparer to an essential advisor for his clients is the real reason he was able to build his dream accounting firm. He made the commitment to stop being seen as a commodity and start being seen as an expert, and it paved the way for his dream firm.

He started by embracing his niche and tailoring packages to suit their needs better. This was the crucial first step in reshaping the firm's marketing initiatives resonate more deeply with its target audience.

March 2022

Pruitt Prep starts to offer a "Quarterly Check-In" Package for $3000

May 2022

Pruitt Prep CPA signs $3K quarterly tax planning client

Problem #2 SOLVED: Niche Success in the Mental Health Space

As he reflected on his existing client base, Alan realized that a significant portion consisted of mental health professionals, including therapists and counselors. This revelation came as he recognized the success of his wife's private practice in the mental health field. With coaching guidance he accessed in our Create Your Dream Firm program, Alan embraced the idea of specializing in serving mental health professionals.

IT'S A TOUGH DECISION TO MAKE BECAUSE IT FEELS LIKE THERE'S A BIG FEAR OF LOSS WHEN WE GO, OH, I'M CUTTING OUT ALL THIS OPPORTUNITY, BUT REALLY ALL WE'RE DOING IS INCREASING THE CHANCES THAT YOU CAPTURE ANY OPPORTUNITY.

Initially hesitant about narrowing his focus to a specific industry, Alan soon discovered the tremendous benefits of his decision.

BEING A YEAR AND A HALF PLUS INTO IT (CHOOSING A NICHE), IT'S LITERALLY BEEN ONE OF THE BEST DECISIONS.

Having a personal familiarity with the challenges and intricacies of mental health practices (thanks to his wife's own therapy practice), Alan was able to provide valuable insights and support to his clients. Many therapists lacked expertise in financial matters, making Alan's assistance with business management, tax planning, and revenue streams highly valuable.

Choosing mental health professionals as his dream clients proved to be one of the best decisions Alan made for his accounting firm. By aligning his services with their unique needs, he forged strong partnerships and achieved remarkable success in helping his clients grow their practices. And the best part of all, these were his dream accounting clients. They were ready and willing to pay a premium price for Pruitt Prep's services because they too, recognized the value Alan was delivering.

June 2022

Dream Firms starts review generation campaign for Pruitt Prep CPA

July 2022

Alan is a guest on a podcast for mental health professionals

July 2022

Pruitt Prep CPA signs 2 New Clients for $1,000 MRR

July 2022

Pruitt Prep CPA Adds 60 5-star Reviews

July 2022

Pruitt Prep CPA onboards 5 new clients for $20K

Problem #3 SOLVED: From Podcasts to Local News: How Niche Speaking Engagement Fueled a $32K Client

Alan Pruitt's decision to specialize in mental health professionals has led to a series of remarkable successes, particularly through his active participation as a speaker at niche conferences and podcasts focused on mental health.

For instance, Alan's appearances as a speaker at these events have not only showcased his firm's expertise but also generated tangible results. From securing new clients to fostering meaningful connections, the impact has been profound. In one notable instance, Alan's participation in a therapist- specific webinar led to six booked calls from prospective clients-an impressive outcome that underscores the effectiveness of niche marketing strategies.

By leveraging these speaking opportunities, Alan has been able to sign his largest niche client ($32K ARR) and position his firm as a trusted authority in the field of mental health accounting. These engagements not only highlight his deep understanding of the unique challenges faced by mental health professionals but also serve as powerful platforms for networking and lead generation. As a result, Alan has been able to cultivate strong relationships within the mental health communityVideo while consistently attracting high-value clients to his firm.

August 2022

Pruitt Prep CPA surpasses 100 5-star reviews

September 2022

Pruitt Prep CPA adds $1500 MRR

September 2022

Pruitt Prep CPA hires a new tax manager, allowing Alan to focus on high-level client activity

October 2022

Pruitt Prep CPA signs 3 new clients for $25K ARR

**How Dream Firms Generated 122 5-Star Reviews for Pruitt Prep CPA**

If you were one of Alan's clients, you already knew how valuable his services were and how his firm goes above and beyond for their clients. But, if you were a prospective client, the 5-star service Alan was known for wasn't obvious. To help attract new clients and to solidify the stellar reputation of Pruitt Prep CPA, the Deam Firms team started a review generation campaign.

Within a few short weeks Alan's firm went from 5 to 100+ 5-star reviews.

This was a significant milestone that had a transformative impact on his firm's marketing and growth strategies. The abundance of positive reviews served as powerful social proof, reinforcing the firm's credibility and trustworthiness in the eyes of prospective clients.

These glowing testimonials not only enhanced the firm's online reputation but also played a pivotal role in influencing the decision-making process of potential clients. But most importantly, the abundance of five-star reviews served as a powerful differentiator, setting Alan's firm apart from competitors and positioning it as a top choice in the market. It was like having an army of brand advocates out there, spreading the word about his firm. As a result, Alan's firm emerged as a market leader, poised for continued success and expansion in the years to come.

**A Special Section on Big Sexy & Dealing with Problem Clients**

Alan has 100+ 5-star Google reviews, but if you do a quick Google search, you'll see that his average review is 4.9. Without a doubt, this is a phenomenal rating, but who or what brought down Pruitt Prep CPA's perfect 5-star rating?

*Ominous organ music* BIG SEXY.

If you have Googled Pruitt Prep CPA, you'll know that Alan ALWAYS strives to provide the highest level of service to his clients. It shows in our interview with him, it shows in his reviews, and it shows in his relationship with his clients. But every now and again, you get a bad egg. Big Sexy is Alan's bad egg. And Alan's response to this nightmare client is how any and every firm owner should handle criticism.

Alan knew he and his team had done everything on their end, but he kept his response cordial and professional. And because he has 100 other 5-star reviews confirming that his firm takes care of its clients, he could let them do all the talking.

** Now back to our regularly scheduled programming **

November 2022

Alan upsells $750 tax client to $6,000 advisory client

December 2022

Alan is on the local news for a special segment about year end tax tips

From Tax Returns to $40K MRR

Armed with Dream Firms' strategies and resources to propelled his firm to new heights. Alan made the most important decision for his firm's future- He would no longer rely on the commoditized service of tax prep. Instead, he would aim to become the go-to financial expert for his clients.

IF WE FLIP AND GET ON THE OTHER SIDE OF THIS AND BE MORE PROACTIVE WITH THEM AND HELP THEM THROUGHOUT THE YEAR, THAT GIVES THEM A BETTER RESULT. AND IF I'M BEING HONEST ON MY END, WE CAN ALSO CHARGE MORE FOR THAT AT THE SAME TIME. SO IT SERVES BOTH OF US EVEN BETTER.

Instead of merely focusing on tax returns, Alan's firm now offered year-round support, providing clients with guidance and advice to save on taxes and streamline their business's finances. By engaging with clients on a regular basis, Pruitt Prep CPA was able to deliver exceptional value. Alan's team established strong relationships and ensured that clients felt heard and understood.

IN MY SPECIFIC CASE, MOST THERAPISTS AREN'T NUMBERS-MINDED...YOU KNOW, DIFFERENT KIND OF MENTAL SKILL SETS. AND SO THAT WAY I CAN PARTNER WITH THEM AND, AND HELP THEM OUT ON THE BUSINESS SIDE, ON THE TAX PLAN SIDE, ON THE REVENUE STREAM SIDE.

Recognizing that his clients were experts in their fields but lacked expertise in accounting, Alan positioned himself as an invaluable partner. By offering various service packages tailored to meet the needs of clients at all business stages, Alan's firm helped his clients navigate complex financial matters, allowing them to focus on their core competencies.

With the support of Dream Firms, Alan continued to draw in 5-star reviews and book new client appointments. His firm accelerated from a one-off tax shop with $0 MRR to $40,000 of monthly recurring revenue.