Who's Really the BOSS?

There may be errors in spelling, grammar, and accuracy in this machine-generated transcript.

Rachel Dillon: Hi, I'm Rachel Dillon, and together with my husband, Marcus Dillon, we lead Who's Really the Boss podcast, where we highlight the joys and challenges of running a business with your spouse or family. Our mission is to strengthen families and businesses by helping listeners avoid the mistakes we have made so they can lead.And live happily ever after.

Rachel Dillon: All right, well, welcome [00:00:30] back to another episode of Who's Really the Boss podcast.

Marcus Dillon: Hey, thanks for having me back.

Rachel Dillon: How are you ready?

Marcus Dillon: We're ready. Like I'm rolling. Today's a good day.

Rachel Dillon: Yeah. So, um, we've had a lot of excitement happen here just in the past. Less than a week. So just right before the weekend, uh, DBA firm had a huge glow up. And we're excited to talk through what and why and how and all [00:01:00] the details of DBA firms glow up.

Marcus Dillon: Yeah. Everybody loves a good glow up. So I think this is the the time to talk about it. Right. And where um, we've been building, you know, this in kind of the background for a while now for, uh, really formally for a year and then even more so kind of been dreaming about it. So I think it's really cool to celebrate and let others in to what's happening.

Rachel Dillon: Yeah, absolutely. So DBA firm went [00:01:30] through a rebrand and a name change. So a whole new look, a whole new name. So DBA firm just before the weekend became collective by DBA. And we are super excited about what that means for DBA firm. Um, what that means for us, for the Dillon Business Advisors team, for all of those friends who have enrolled [00:02:00] in DBA firm resources and have been attending webinars, downloading resources, coming to live events, and so just want to talk through all of that on this episode.

Marcus Dillon: Yeah, I would say it's, uh you said it earlier. It's growing up. It's kind of moving out of the house, so to speak. So, uh, DBA firm was, you know, when it was kind of under the umbrella, really closely held under DBA, um, to where now collective, um, still a part [00:02:30] of DBA, obviously, but it will stand alone. There will be some team members on that side. There are some resources that are specific to collective. Um, but it's also got the the heartbeat of DBA behind it and the team of DBA in it.

Rachel Dillon: Yeah. So we said that DBA firm grew up and moved out. So what we mean by DBA firm used to be on Dylan Advisors. Com and there was a little menu tab DBA firm [00:03:00] and now DBA firm, now that it's collected by DBA has moved to a whole new domain. So we have collective CPA where you can find all the details of what we're going to discuss today, but that's where you'll visit. So we'll obviously have a button on Dylan Advisors. Com that you can still get to collective, but it does have its own home now. So that's exciting. But really why we're moving out [00:03:30] both of our children right at the same time. And so why are we moving out this kind of, I would say, passion project, uh, ministry. It really felt like a calling in the beginning. Still feels like a calling. But why so much investment in this?

Marcus Dillon: Why is because we believe in it. We, um. We think that in order for this to live long term, it can no longer live under, uh, Dylan Advisors, comm or the DBA firm brand. We wanted it to have its own [00:04:00] identity with collective, and so I think this is the step in that first direction. Um, whenever I, you know, scan the market and we've been involved in other communities and other groups in the past. Um, I wanted something to really support the team that we have as a small firm and not only equip owners or leaders, but all levels of DBA. And so obviously, when we went on a shopping [00:04:30] spree of different communities and really didn't find anything that we, uh, once had or that we did want. And so, you know, it's it's similar to where if you've got the idea and you've got the desire to do it, just go do it yourself. And so we put forth all the resources, all the investment to do that. We have DBA, the firm that kind of, you know, has all the experience with team members and everything like that. But ultimately the reason why is because we wanted to support [00:05:00] not only our team, but the teams of other firms that are similar to us.

Rachel Dillon: Yeah, so we're really looking for a community that could serve our team. Like we went out looking for this prior to even DBA firm. We went out looking for a community that could serve our team, accountability and ongoing support solutions to real life, like day in and day out challenges that our team members were having, not just the owner, but the team members. So our [00:05:30] client service managers, our controllers in working with clients, what are other people doing in other firms that are successful and high achieving? What are they doing to serve their clients well? Um, we were looking for best practices in other firms and really facilitators or like community leaders that were equally invested in the success of our accounting firm as we as we are. And so really looking for [00:06:00] that, I guess you would just say it as support and accountability that's ongoing, that it's not just a oh yeah, here's this, try it and then no follow up, but really being invested and wanting to see okay. Did it, you know, did it work. Did you have any trouble. How can we help. And so that was just a little bit just finding that to be a little bit of a challenge always. We have CPAs on our team. So always looking for good CPE [00:06:30] for them. But also professional development just for our all of our team members to continue to grow and to get better so they don't feel stuck or feel like they don't have options, you know, after they've worked with us, two to 5 to 10 years that they know that they're continually growing.

Marcus Dillon: Yeah, I would say whenever you and I kind of looked at all the available options in the market and it's getting very noisy. There's a lot of noise in our space and in accounting, and with [00:07:00] the noise from the 150 hour rule to private equity to now, everybody's an influencer and we're not helping with that influencer piece, obviously, with how much we're out there. But I would say that the differentiator for us is we wanted someone that's actually actively running a business and not just an influencer, not just a speaker or somebody that once owned a firm. We want someone that's dealing with the the stuff on a day to day today, not ten years [00:07:30] ago, not 15 years ago, because the problems of 10 or 15 years ago are pale in comparison to all the decisions you have to make in a firm. I mean, you just look at practice management, for example, and how many choices you have today versus 10 or 15 years ago, and it'll just make your head spin. So we wanted to work alongside others in that capacity. And whenever we looked at other options There were great options to support a certain level, mainly the leaders or have individual logins. [00:08:00]

Marcus Dillon: We wanted to support whole team. So from leadership all the way down to admin, we want to make sure that that whole team is supported and in one place and with very similar teams. And so that's why we feel called to, you know, serve teams of 3 to 30. And then also that kind of fits with revenue size of 500,000 to 5 million is because a lot of those discussions, a lot of those, um, you know, accountability meetings, if you will happen [00:08:30] in those firms on very similar topics or subjects, you know. So I think that's the piece where, um, if I were shopping for a social club or a country club, I personally would go do that, you know, outside of the business. But if I wanted to support a team and team growth and really have peers that are motivated to change. I could not easily find that place in today's market. And so I you know, I think there are people doing great [00:09:00] things, but doing our little spin on it with the the following that we have is where we're at today.

Rachel Dillon: Absolutely. So that's a little bit about why we keep investing in what is now collective by DBA. So new name, new logo, new colors, new website, but also a new offering for people to engage and get better. And so kind of talk through that. What what has [00:09:30] come with this.

Marcus Dillon: Yeah. So from the very, from the very start, we knew that we wanted to have a space where all people could be together. Um, in other words, a community. Right. So we've created that space where people can share, people can share resources, people can speak to one another in a controlled environment. This isn't going to be like a Facebook group, you know? It's a little bit more controlled. It's a little bit more follow up as far as support, because you're just not thrown into it. Um, our whole team isn't [00:10:00] there, right? And so all the DBA, team members, all of our leadership team is in there, both on the DBA side and the collective side. So I think that's what you're getting. You're also getting all the resources that DBA the firm has. Um, so all of the different pieces that we have successfully implemented and the ones that we haven't, you know, and I think those are the the failures, those stories, if you will, will be weaved into a lot of what we do. And, you know, for somebody that really wants to [00:10:30] grow a team and support a team, this is what we feel would be a good option. We also support that through getting together a few times a year with the different events.

Marcus Dillon: And that's, you know, something that we also looked at is where can I go and really connect in a smaller group in a smaller setting And so the few events that we've had, the one in April, we we tested that and then the two that are coming up in November, the one that that still has availability is the one the week of the election, [00:11:00] which that'll be a fun week. You know, let's see what that looks like. But that that is capped at 50 firm leaders and 50 owners, you know, two from each firm. Um, to be in a smaller room to where you have a voice and you can actually listen to the other voices at your table. Uh, we think that options in the market as far as large conference offerings, large, um, situations to connect with one another, you kind of get lost, or at least I do. So. [00:11:30] So maybe DBA firm was just me creating something where, you know, I had the team around me that was able to keep me on track. And then after I saw how others were able to keep me on track, I wanted to share that with other firm owners who may be, uh, easily off track. Like I can get.

Rachel Dillon: Yeah that's fun. So collective by DBA is now offering a community. So when you join the collective, you will [00:12:00] lovingly be referred to as an insider. So make sure if you want in you get in. But that's for the firm. So it's not just for one person. It's not just for the owner or for a partner. It's for the whole team. So once you sign up, you're signing up for your whole team to be in this environment of like minded firms and accountants and leaders that are in there that are all looking for a better way to do things, a better way [00:12:30] to run the firm, a better way to serve clients. And so really, you get the confidence of knowing these are other firms that are actually doing this day in and day out. They're offering client accounting and advisory services. They're preparing tax returns They're holding CFO or advisory meetings, providing financials on a monthly basis. So it's knowing that, okay, they're doing this. They're using digital processes. They have a team. That way you [00:13:00] have some confidence of answers that you're getting. Or solutions and recommendations and strategies are coming from firms that are like yours rather than maybe. And this isn't discounting anyone, but maybe a solopreneur that's suggesting something or a very large firm that suggests something that just doesn't work. And the firm sizes that, like Dillon Business Advisors is and that are in the collective. And so currently [00:13:30] in the collective, let's talk about who is in there. So definitely the collective team. So Amy McCarty is not on this call, but Amy is definitely a huge part in founder of collective as well. And our Dillon Business Advisors team. So our entire team of 16, including us.

Marcus Dillon: Yeah. Yeah. All 16. All 16 will be in there. And then, you know, there will be a couple of additional hires on the collective side [00:14:00] which will announce, you know, right on the other side.

Rachel Dillon: Those are surprises coming soon. Yeah.

Marcus Dillon: Yeah. So I think it will be something else that set this apart. Was I didn't want to do this. Just us. I didn't want to do this just myself. Like, this isn't meant to, um, you know, just be a solo project, if you will. I wanted to bring in all the best minds, people that we've worked with in the past, new people that we are excited to work with as well. Um, to really create [00:14:30] something where a team is being supported by a team. And, you know, at DBA, we've been really successful to always surround ourselves with people that are so much better than us. Um, the fact that those 20 or so people are already in that collective community is already setting things up for success.

Rachel Dillon: Yeah. So firms from across the country, meaning both owners and leaders as well as all team members, so all levels of [00:15:00] team members, I'm administrative. I don't do any technical accounting work. So even administrative. Um, so that they can get answers right. The whole idea behind collective is really focused on operations. So firm management and operating an amazing accounting firm. And so definitely we would want to invite those people in as well. So this is going to be for the entire team to be able to have access to support accountability resources, [00:15:30] in addition to webinars, webinars that qualify for CPE, and then really excited about being able to do live streams. So one of the pieces of feedback that we get from almost every single webinar that we do is I wish there was more time for Q&A. I wish there was more time, you know, to ask more questions. And when you just have an hour spot once a month and you're trying to share as much as you can to be helpful to others, [00:16:00] it's hard to build in enough time for the questions that may come. So do you want to talk a little bit about what live streams might look like?

Marcus Dillon: Yeah, so live streams will follow. Kind of a town hall. They'll be topic driven. Also may include other team members, other guests in the future. So I think that's something to pay attention to where we'll bring in, bring in others. And that way questions. Questions can be answered really in a live format. No prerecorded stuff or anything like that. You [00:16:30] can put people on the spot if you really want to and see how how good they can dance. But just something to get you through kind of your lunch hour as well. And then you're in a, you're in a setting that, you know, some other people that have maybe worked alongside in the past, or maybe they're where you want to be. You can ask them what they've learned. And I think we've always been able to cultivate, um, you know, some of these relationships in a 1 to 1 or a few, [00:17:00] um, setting. And I think now it's just kind of opening up, opening up the door a little bit more so people can see what those are. And, you know, I was having a conversation today on somebody that's looking at at buying their first firm. And I think some of those conversations will be natural to be in there. Um, you know, my, my background and expertise on, um, you know, enjoying client block sales and acquisitions and things like that. I know a lot of what not to do. Um, so [00:17:30] and I think that was a great question that this person asked me today.

Marcus Dillon: She was like, well, what would what would be your biggest mistake out of all the deals you've done? And I immediately knew, okay, here's here is that and here's how you protect not only yourself, but also the seller from going down that same path. And there's just a lot of wisdom in a community. And I think being able to share that in a very safe space where people can openly share what's going on. And then as a firm [00:18:00] owner, your team is there too. So, you know, I've never wanted to hold back from our team. And even more so we've gotten transparent, more transparent as the years have gone by. And I think that that was a, um, a big leap for us, as opposed to keeping so many things internally close to the chest that for us, I think that was a big, a big win and allowed for a lot of growth, both internally and both, um, you know, on the external side to share [00:18:30] in wins, failures and just the collective knowledge base of DBA. So I would hope that same thing exists for, for other teams. Um for, for maybe team members that aren't owners to hear stories of, of other owners so they can have empathy for their owners or their leaders and know that the grass isn't always greener. It's it's green where you water it. Pretty much. So that's that's part of the the lives, you know, that's that's [00:19:00] the joy of doing those.

Rachel Dillon: Absolutely. So we talked a little bit about um firm size and makeup as far as team size and maybe revenue of the firm. What are kind of the three areas that we've found that most people are looking for support or accountability with?

Marcus Dillon: Yeah. So DBA firm you know it started off and it can still answer to this day. It's operational support for accounting firms. Um that hasn't changed. And so the way that we do that operational support within [00:19:30] collective is through strategy structure and systems. And so that's pretty much the big points. Whenever you boil down any business, we're very experienced in CPA firms. Go figure. After running a few um, that that we can easily talk into those and we still geek out about all the stuff that's going on in the market today with software and PE coming in and all that fun stuff. Um, you'd be amazed at, um, you know, just the, the knowledge base that exists [00:20:00] within your peer group. So I think that's the piece where supporting that and the way that we do continuous learning is through those three pillars structure, strategy and systems.

Rachel Dillon: Awesome. Yeah. So we we said the things that have changed as far as whenever the name went from DBA firm to collective by DBA, and then the things that have stayed the same is still the operational support and accountability focusing on strategy, structure and systems. So let's talk a little bit [00:20:30] about each of those pillars. As far as what does it mean when we say strategy? What would fall into that category?

Marcus Dillon: Yeah. So strategies overall you know your your business strategy your client strategy. So a lot of that time I mean a lot of that is due to you know, who do you want to serve. And even though it may sound elementary, a lot of people talk about it, you know, how do you grade your clients? What's your mission, vision and values? And once you've kind of done some of that hard work, which maybe you come to the maybe you [00:21:00] come to the group already knowing that maybe you come to collective already knowing that, and you just need to fine tune it a little bit. But once you've been able to measure and decide on different things in your business through the lens of those mission, vision and values, it makes things a little bit easier. Um, and that's speaking from experience on different things. Right? And even here recently, a sponsor that came in the door and wanted to give us $10,000 and we're like, I don't [00:21:30] know that this is good. Um, and we, you know, every person has an opinion. But then we went back to our mission and vision and values, and it just reinforced like, no, we're going to say no to this $10,000, even though it's $10,000, you know. So, um, I think part of that is on the strategy side for all businesses is looking at that, looking at your client list, looking at how you go to market, how you serve your ideal client, who is your ideal client. So a lot of that [00:22:00] can be done independently, uh, where we have seen that people get stuck or it's a slower process is they don't have another team beside them holding them accountable or helping them where they're weak. I guess you know, where they're not as strong. So, um, we feel called to be that team and to kind of help people, you know, stay on track to what their goals are.

Rachel Dillon: Absolutely. Just being able to see it from a different perspective and offer maybe [00:22:30] a different approach or even helping to prioritize the approach they've already decided on, but just with a different perspective. Sometimes you're just too close to the challenge at hand and you just can't see clearly what needs to happen next. And so I know our team, and even those surprise team members that will be announced soon are very familiar, very experienced. Um, and I would even say expert level on being able to do that and walk people through those changes. [00:23:00] A lot of times, I like to say on strategy for established firms, it's how do you create capacity within your firm? You have these ideas of, you know who you want to serve, you know how you want to serve them, but you just don't have the time because you're serving people that maybe aren't as ideal. And so strategy really helps with figuring out how do I create the capacity. And then for the newer firms is really identifying that from the beginning. So you don't like all the rest of us get to that over capacity [00:23:30] and realize, what have I created? This is not what I thought it was going to be. So that's what I like to kind of boil down the strategy piece to. What about structure? What would be included in that?

Marcus Dillon: Yeah. So structure for us it's a lot of the internal structure how you how you structure your team or even like how you structure your days. We just had a recent webinar on time blocking. So I think that's a big piece of structure as well. Once you have some defined roles in there, and maybe you don't [00:24:00] adopt the team of three language, the CSM client controller or client CFO, maybe you've got something else that works for you, and you can just kind of tweak some of those descriptions or role responsibilities and apply them to your business. But ultimately, structure is around team and part of the way that the community can support one another is you can actually pair, um, team members from firms that are csms, and they can go chat and be with other CSM. Same with client controllers. What are you all doing? [00:24:30] Maybe you don't call your people client controllers, but that's the equivalent of what they do. And so our software actually matches those similar team members up to where, hey, if you've got an issue, you've got the DBA client service managers, you've got other client service managers from other firms really at your disposal. And you're not trying to reinvent the wheel every time you you turn around.

Rachel Dillon: Yeah, absolutely. So things like roles and responsibilities, [00:25:00] job descriptions, organizational charts, I feel like all of those have been things that have been very helpful for teams to figure out. How do I serve both monthly accounting and advisory clients and also do tax work or other compliance work because there's only so many hours in a day. And I think the main goal of all of us is to not work 70 plus hours per week, right? We want to fit all of [00:25:30] those responsibilities that we have and have promised to our clients. We want to do it well, and we want to do it within 40 hours or less each week. And so that's where that structure, um, really comes in. But also strategy is going to help with that as well. And then the kind of last pillar of collective would be systems. So that is definitely a broad term on purpose. So talk a little bit about what would be included there.

Marcus Dillon: Yeah. Systems. [00:26:00] Um, we could have easily just called that software, but we didn't want to include any other system in place. So it could be workflows, it could be automations, it could be different glue that holds software together. It definitely will include software as well because, um, our team, myself, others that we're very close to continue to vet software all the time and we're not afraid to give our opinion. And that is the other piece of this is where there's there's really no vendors in this group. [00:26:30] You know, I think that's the behind behind the, um, the firewall or behind the paywall, if you will, is other firm owners. There's nobody with a vested interest in a software company trying to sell you something. So I think that's the other piece where it is safe to that extent in the community. Um, and from there you can openly talk about what you like or what you don't like about things that are going on in your current stack or in the pieces that you're evaluating.

Rachel Dillon: Absolutely. [00:27:00] So let's talk a little bit about you mentioned you mentioned events. So we do host virtual events. So we have webinars. We're going to have live streams. We also have in-person events. So we've already had one in-person event that was back in April. We hosted that in The Woodlands Texas. It was for 50, but we had more people who wanted to come. So we pushed the, I guess, capacity of that room a little bit [00:27:30] more than we wanted to, but we had 60 firm owners and leaders represented in that room. And then our team, some collective team as well as two vendors. And so let's talk about that event. That event, Big Four really was for anyone who was enrolled in the free resources, anyone who was kind of part of our webinars and resources up to that point. But going forward, who will [00:28:00] our in-person events be for?

Marcus Dillon: Yeah, it'll be for the people that are in the in the community. So I think that's the piece where we believe in just the connection that is there. And whenever you build that up over time and know, um, we're committed to a smaller room as mentioned. So we're committed to that same exact room in The Woodlands, uh, at a couple different events now, um, a few times a year. And so that's the piece where All the feedback we got from that [00:28:30] event was don't make this any bigger. It's the perfect size. The room is right. Um, if anything, take ten chairs away, you know? And so I think that's what we did. We kept it back at the 50. And so we've capped that event and the one at the end of the week in November. What is it? November 5th.

Rachel Dillon: November 6th through eighth.

Marcus Dillon: November 6th through eighth still has some availability. Um, but I would say that, you know, starting next year, the events that are branded [00:29:00] under collective completely for the other year will go hand in hand with all the other strategy that is going throughout the year, including kind of the the learning calendar, if you will, that culminates with some events a couple times a year.

Rachel Dillon: Okay. So let's talk about the in-person event that's still available, even if you're not in collective just yet. So we have Fall Get Together coming up November 6th through the eighth in The Woodlands, Texas. If you're not familiar, The Woodlands, Texas is [00:29:30] a pretty nice area of Houston. What makes it even nicer is that it's about a 20 to 30 minute ride from the airport. Like Uber ride from the airport. And then once you get to the Woodlands, everything's walkable. So November won't be a thousand degrees, so that's good. It should be mild temperatures at that time, but restaurants, shopping, nightlife if you will. And then definitely the the conference. The event is all [00:30:00] in one place within walking distance.

Marcus Dillon: Yeah. So the Westin is where we host that there. It's a great hotel. They've actually done really well. The woodlands is an established community, but they've done very a very good job in keeping it, you know, up to date and always bringing in new things. Um, it's it's one of those it's an easy trip from the airport. So about 20 minutes from the largest airport in Houston there. This week in November. Shouldn't be [00:30:30] crazy as far as weather. So yeah, we would invite you down if you're interested in learning more and kind of getting behind the scenes a little bit of collective. We still do have some seats available as of today. Um, but hopefully those are, you know, going to be spoken for here pretty quick.

Rachel Dillon: So if interested, go check out collective CPA and you'll be able to find that event and a sign up for that. You'll be able to sign up and pay and so completely register [00:31:00] and then book your hotel room all from collective CPA. So let's talk about a little bit of what that event is, what's included. So just some high overarching topics of what's on that agenda. Before you go check it out on the website. Creating capacity in your firm, some building some service packages out. So talking through Ideal Client and Ideal Services team member career development and professional development as well as tech [00:31:30] stack. So those are just some things that will be highlighted during that. Um, what's kind of your favorite part about that event? It's going to be very similar to what we did in April. So we've already experienced this. We've already had feedback from 60 people, 60 plus people who attended.

Marcus Dillon: Yeah. My favorite part of that event is actually, um, a few ones. Uh, the first one is the KPI section where actually firms submit, um, some different KPIs for their firm ahead of time. And so that's why [00:32:00] usually it's leaders in that room. So they're sharing things all the way from revenue size, revenue per head on the team members to EBITDA. Just different owner hours worked. Um, just to see where you rank with the room. And we're not there to judge one another. We're there to see how everybody can improve from the next time you run those same KPIs. And I think November will be fresh off of the last tax deadline for those people to kind of dive into their numbers [00:32:30] hopefully before then and, you know, maybe fine tune some things in 2025. Um, as far as where they want to be from a financial perspective. Um, the other part of it, um, for me is just the, the whole team that is there from our DBA and collective side. So we do have a team of three panel that gets up there. And so it's a mix of CSM controller and CFO teams from DBA. They're really answering what does this really look like on a day to day, week to week, month to month basis [00:33:00] for those firms who still have questions about some different structure pieces? And, um, you know, that's that's the one thing that whenever we really, you know, why are we doing collective? Why are we rolling it out a little bit, if you will? We know it has to live beyond Markus and Rachel.

Marcus Dillon: So, you know, our cap of leadership. We've invited other people to the team as far as leaders and it's no different for collective. Last week we had a webinar where you and I weren't on the webinar, [00:33:30] and it was our best attended and registered webinar yet. I think a few different reasons, but was really excited to see both Amy and Leslie lead that webinar on time blocking. And the one thing that I would say that's a little bit different from an accountability perspective for us is whenever items like that webinar and time blocking are presented, and then you have partners who say, yeah, but how does this really work for a partner? It can never work [00:34:00] for me. You have all of us that do it who are partners on the other side, kind of calling your bluff and saying, yeah, you can not work 4400 hours, 2000 hours a year. This is what success really looks like in firms. And, you know, we actually have all the data, all the support to back that up. So if you're still really, uh, wanting to call our bluff, you know, hey, here's all the behind the scenes, here's all the data. So I think those are the [00:34:30] different pieces that maybe we have in this collective versus others. So I think that's the piece where you're not only getting a peek behind the scenes, but you're able to kind of poke us in the ribs, so to speak, to see if we're real.

Rachel Dillon: Absolutely. I love that I'm so impressed that you were able to name, like, two favorite parts. I'm like, the whole thing. Everything about it. All of it's my favorite part at the event. But I do love that you mentioned the KPIs. [00:35:00] I love that that session is first because you get to see who else is in the room now. We kept those anonymous, so not necessarily like put a revenue number or a profit on somebody's head, right. That's sitting in the room. But just to know who else is in the room so that when you're hearing people ask questions or make recommendations and give ideas, you again, can vet, is that going to make sense in my firm [00:35:30] or is my firm too dissimilar? Is my firm very similar that that could be applied in it? It just gives you more context on where people are coming from. So I love that that's done as the very first part of the meeting together. Um, the reason another reason for that is kind of my favorite parts are the advanced study sessions, which could be said a different way, for example, like roundtables. So firm owners and leaders sitting around the table talking through [00:36:00] the information that they just heard. So maybe at the end of day one, we're wrapping up and processing like, what was your takeaway from today? You know, what do you still need more information about? What did you hear? What questions do you still have? So setting aside that time, so many times when we go to conferences, we have all this information and then we do pretty well if we go together, because we can find time either on the plane ride back or at some point to kind of talk [00:36:30] through and process and then start prioritizing action steps of what needs to happen next, rather than taking in all that information and then not doing anything with it.

Rachel Dillon: So that's that's part of it. And then on the last day, really figuring out what are the next steps, choosing what are those two things I'm doing right now I'm starting on and what are the next steps? What do I need to do? A lot of times it might be talking to someone else in the room or getting someone's contact [00:37:00] information from the room and going ahead and sending that email to schedule that meeting. So I love that it's very relevant, it's practical. And then we immediately start acting on whatever, you know, we've picked up. And when I say we, I mean us. I mean, for the Dillon business Advisors team. From the last one we picked up on some. I guess it's additional like would you say it's benefits as far as talking through [00:37:30] PTO and incentivizing our team? Those are some things that we picked up on and started discussing as a leadership. And then now have started rolling out pieces of that to our team.

Marcus Dillon: Yeah, we had to do that so those firms wouldn't hire away our team members. Um, and that's the other piece on these events and collective as a whole, the DBA team, the people that are serving clients on a day to day basis are at those tables or in those discussions. And [00:38:00] I think that's the piece where it adds a lot of value for your team members to connect with those. So we've set these events up to be really the visionary and the integrator kind of come together. Or if you have an accountability partner, if you're a leader or if you are the accountability partner and you need to sign up your leader and drag them to the woodlands, that's what this is for. And the other piece that is different in the events versus the collective community is [00:38:30] the sponsors or the vendors that are there. So we will, at the events have hand-selected vendors that DBA uses. And part of it is so our team can get to know those vendors who we have a deep relationship with. Even better. And this isn't open to just anybody that wants to write us a check for the sponsorship. And that sponsorship money is meant to do cool things for the people that are in attendance. We've actually turned down a couple [00:39:00] of people just because of a variety of reasons. So these are hand-selected people that DBA uses and that we know they may not be right for everybody and they're there not to sell. There is not a booth area where they're going to throw swag at you or anything like that. They are at round tables to participate and learn, just like a firm is. So I think that's the other unique thing that we gave that we heard feedback from, from the from the [00:39:30] vendors that were there the last time around is that they were so helpful. But then also they got insight on the different pain points that firms have. And, um, it helped them do their their job better too.

Rachel Dillon: Yeah, absolutely. And I feel like that leads right into why would we turn down free money? Why would we keep an event small? If more people want to come, why [00:40:00] would we do? Why would we choose to operate collective in this manner? And I think it just goes back to our vision, mission and values. And two of those we borrowed or share with Dylan business advisors at the end of the day. Collective is powered by DBA by Dylan Business Advisors. It is coming from an actual CPA firm [00:40:30] that runs today that serves clients. That is our main focus. Like that is why we started collective to help other people run accounting firms. And so we share the vision and values. The mission is different. Do you do you want to share with the mission? Is do you want me to share with you?

Marcus Dillon: Probably got it right there in front of you. I don't want to mess it up.

Rachel Dillon: Yeah. So I'll start with I'll start with our vision from Dylan Business [00:41:00] Advisors. And this, I think, gives just a little bit more clarity on why there's even a support organization. Right. Why there's even a community developed. And so our vision from Dylan Business Advisors is we are creating a future where success is measured by the positive impact we make on individuals, businesses and our communities. By connecting and inspiring professionals focused on continual learning and leaving a legacy. The [00:41:30] second part is the kicker. We are transforming the face of accounting through our commitment to integrity, collaboration and relationships. So that piece is part of Dillon Business Advisor's vision. So this has always been, I think, on our heart and just really a calling to serve others, to serve our peers in the industry, our values. I know you know our values. Do you want to go through [00:42:00] those? Our values spell out something that's very important to our whole team.

Marcus Dillon: Yeah. And for those I'll just say impact is the main thing that you want to keep in mind. So, um, why don't you kind of go through them and then everybody listening can always just remember impact. Yeah.

Rachel Dillon: Impact is what we kind of set out. We wanted them to be memorable. The values is really how our team operates. We're remote. So how do they make decisions day in and day out [00:42:30] when they don't necessarily need to call and ask, you know, somebody else on the team, what should I do here? They can always remember impact. So integrity, meaningful work people first appreciation collaboration and transparency. And so that is what we go back to when we say yes or no to a vendor joining us at an event. When we say yes or no to the size of an event or the location of an event, we're going back to those values. And is [00:43:00] it does it align? And if it doesn't then it's an easy no. And so those are the same vision and values are the same both at Dillon Business Advisors and at collective by DBA. Our mission is a little bit different. The mission for collective by DBA is guiding accounting firms to connect, collaborate and make lasting change.

Marcus Dillon: Yeah. And part of that is, you know, you had asked why keep it small. We want to keep it a smaller room of people that are really dedicated to [00:43:30] change. And then that way they're committed. Iron sharpens iron. We use that all the time in talking about different businesses and different relationships. So we would much rather have 50 well committed firm leaders working alongside one another than 500 who are loosely just paying attention and they're just to watch others. So I think that's that's part of it, because we want to surround ourselves with, you know, people that bring [00:44:00] our average up, so to speak. And the way that we do that is who we keep our company with. And that's kind of what collective is for us at DBA, it's how can we continue to improve there by surrounding ourselves with other firms that are doing the same thing?

Rachel Dillon: Yeah. And we we love our industry peers and we love to hang out. Collective is a little bit more than that in that we want insiders, people [00:44:30] inside of collective to continually get better. So we want to see a change. We want to see a noticeable difference, a positive impact. Um, if we just want to go on vacation or we just want to go out to dinner, then let's schedule that and let's go do that. You don't have to be in collective to do that. Um, just call us. We love to travel. We're we're up for it. Uh, but if there are initiatives or things that, you know, potential that you see in your firm, in your team [00:45:00] members, in your leaders around you, that you want to continue to capitalize on, continue to invest in, then collective by DBA is the place to do that.

Marcus Dillon: Yeah. And I would say the other thing that we really looked for whenever we were building this out and we've been building it out for a while, and some of y'all have probably said, well, it'll never come out. It'll never happen. Um, so we're here, but I think part of it is we had to build out the right team because we [00:45:30] want you to go from participation at a community level all the way to boots on the ground to help you support your change in your firm that you want. So I think those are the pieces that, um, will be released and built out as far as different types of accountability from a, um, you know, different levels, if you will, all the way through to I really need someone to hold my hand and I'm willing to pay for it, because at the end of the day, you're either [00:46:00] going to, you know, spend money or spend time. And I think depending on how fast you want to move, collective may be the place for you. If you're really looking to make lasting change in your firm.

Rachel Dillon: Absolutely. Well, this has been a great conversation. I think if there are, you know, further questions or interest in learning more, but not just learning more, you've already visited collective CPA, but you want to learn more. Please reach out. There is a [00:46:30] way to contact me on the site. If you want to talk to somebody else, contact me and then I'll schedule you with them. Happy to have those conversations. Love meeting new people and really love meeting new people who want to continue to improve. So excited about what's to come. Excited about what was just released. Anything else before we go?

Marcus Dillon: No. So the new website's dropped. The new socials are out there as well. So go, you know, enjoy those, you know, and kind of see [00:47:00] what's out there as far as what's already been released. And then pay attention for what's yet to come.

Rachel Dillon: Yeah for sure. Go connect with us on LinkedIn. Connect with us on Instagram. I'm not sure what other socials may be coming, but those two for sure we know have accounts. So go ahead and go connect follow. Like whatever it might be on those you'll be able to still find podcast and YouTube is still going. So however you like to connect and interact, we're [00:47:30] available and ready to meet you.

Marcus Dillon: All right. Well thanks so much for leading the conversation. Congrats again on getting on the other side of the glow up. And here we go.

Rachel Dillon: Yeah, absolutely. See you on the next.

Marcus Dillon: All right. Thanks so much.

Rachel Dillon: Thanks for hanging with us to the end of another episode. Leave us a review with your thoughts, comments, and feedback on Apple Podcasts or Spotify. Be sure to subscribe to our podcast so you don't miss any future episodes. Join us again next week for another great conversation. [00:48:00]