In this episode of The Art of Succession podcast, host Barrett Young interviews Jason Blumer, CEO of Blumer CPAs and Thriveal, to discuss his journey of taking over his father's bookkeeping firm and transforming it into a specialized accounting firm for design, marketing, and creative agencies.
The Early Days: Joining and Leading the Family Firm
Jason's father started a small bookkeeping firm in 1997, a year before Jason entered public accounting. By 2003, Jason decided to join his father in running the firm. Despite his father's lack of funds to pay him, Jason was eager to bring in new clients and grow the business. His entrepreneurial spirit led him to introduce new strategies and higher-value services, marking the beginning of significant changes in the firm.
Challenges and Changes in Leadership
Jason faced numerous challenges, including managing clients who were accustomed to his father's way of doing business. He focused on rebranding the firm, raising prices, and enhancing the firm's image with new logos and letterheads. This period of transition required Jason to balance maintaining existing clients with attracting new ones who aligned with his vision. Over time, he gradually took over more of the firm's operations and ownership, eventually leading to his father's retirement around 2010.
Establishing Thriveal: A Community for Entrepreneurial CPAs
In 2010, Jason founded Thriveal, a network for entrepreneurial CPA firms. This initiative stemmed from his need for a supportive community of like-minded professionals. Thriveal provided a platform for CPAs to connect, learn, and grow together. The community's success highlighted the importance of collaboration and shared knowledge in the accounting industry.
Partnership and Growth with Julie
A significant turning point in Jason's journey was forming a partnership with Julie, who initially joined Blumer CPAs to handle administrative tasks. Recognizing her capabilities and complementary skills, Jason made Julie a partner. Their partnership allowed them to divide responsibilities effectively, with Jason focusing on visionary leadership and Julie on operations. This dynamic helped the firm grow exponentially, leveraging their combined strengths to build a robust and innovative organization.
Listeners can learn more about Jason Blumer and Blumer CPAs by visiting blumercpas.com or connecting with Jason on LinkedIn.
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Disclaimer: This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.
