Who's Really the BOSS?

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

Rachel Dillon: Welcome to Who's Really the Boss podcast. I'm Rachel Dillon, and along with my husband, Marcus Dillon, we share the joys and challenges of leading a $3 million accounting firm together. From team structure to growth strategies, we share our leadership successes and failures so you can avoid the mistakes we have made and grow a valuable accounting firm. Welcome back to another episode [00:00:30] of Who's Really the Boss podcast.

Marcus Dillon: Hey, thanks for having me back.

Rachel Dillon: I am excited today to recap our member and we had some guests there. Um, but our event that we hosted in person here in the fall. Do you remember the dates? October something of 2025?

Marcus Dillon: Yeah. No, I think it was October 17th. 18th.

Rachel Dillon: The end of October. It was.

Marcus Dillon: October 19th. October [00:01:00] 19th through the 21st. October 19th through the 21st, which was Sunday through Tuesday.

Rachel Dillon: Yeah. Details. Um, not not so good with those. Um, but we had a great time. We had about 105 people in the room. Um, at some points we had two rooms split up with firm owners and leaders on one side doing certain sessions, and then team members invited to the other side for other sessions and really had a [00:01:30] great time. I think I enjoyed the sessions a lot, um, but knew what was coming, right? Because we were the ones helping to present and host. I enjoyed the outside events of that. Um, just as well. So do you want to give a little bit of detail and info on kind of what happened over those two and a half days?

Marcus Dillon: Yeah. So the the event, the title of the event is gather and it's meant for firm leaders, owners and those team members [00:02:00] that also make sense to bring to an event. And the way that we kind of set the table, so to speak, was if you're going to bring a team member that can learn and take part in table discussions, but then also take what they've heard and learned back to others on your team, that's kind of the, you know, just the underlying work that was needed, uh, to help firm owners and leaders determine who to bring. And so we had a few firms that brought, you know, five to 6 or 7 people, [00:02:30] I think. And then, uh, one of our friends, uh, he brought or he sent his team, but he wasn't there. So Jake's firm came without Jake. But it was it was just a good mix. There was, uh, probably two thirds were firm owners and leaders. And then the other third was, uh, team members. Right. Um, that they felt that they could pour into. And then those team members could pour into others. So that was kind of who was in the room in addition to, uh, our collective team members, but also DBA. [00:03:00]

Marcus Dillon: Some some DBA team members were there and then our partners who we couldn't do the events without. So we had representation by some of the technology partners and team that we work closely with, both at DBA and collective, and it was good to hear from them about the AI and roadmap features that they're excited about and all of their programs as well. So that was a session. But overall, I thought it was a very successful event. We we [00:03:30] actually changed the venue to the Hotel Vin in grapevine, Texas. And man, what a great venue. Um, I think we got a lot of, a lot of, uh, just great remarks on the hotel and the setting. And I know that you worked very hard, very closely with that hotel for about 6 to 7 months to make sure that the event went off without a hitch. And it it really did. It made it it made it look easy, like we do this every day. And that's [00:04:00] really because of all the hard work and, you know, back and forth that you did leading up to the event.

Rachel Dillon: Yeah, I think two of my favorite, I appreciate that. I think two of my favorite comments coming out of the event. Um, we're not even from our team members or attendees, but we're from related parties. So we had two friends that joined us to just be extra hands and to provide some external feedback. People who are unbiased, who had no idea about what was happening, um, in the room, really, [00:04:30] but that really love us and we're willing to be there and just be extra hands in case things went wrong or we needed additional help. Um, and they said that they were so impressed with our vendor partners, which is funny. Like, sometimes you don't think about that, like, you know, that they're sending somebody as a representative. They helped us, you know, put the event on. Um, but how how? Well, the vendor partners know the people in the room [00:05:00] and know their programs so that they can have real conversations. They are not there to sell you anything. Um, maybe, maybe as like a secondary.

Marcus Dillon: They would love to sell you something.

Rachel Dillon: But they are there also as support and to hear what are the pain points, what are the challenges, what can they help with, but then can also speak into and actually get some real solutions of things. If you are having trouble with something related to their product, or even something that their product may be [00:05:30] able to solve for you. Um, so that was cool. The second part was that the staff at hotel, in which they made the whole event, from the AV guys to the servers to just the salespeople who actually booked the event, um, they said that they were really sad to see our group go. So if you're wondering what kind of people, um, are in the room or attend these events, It's really great people that even the, um, the service team [00:06:00] who are working in the hotel to make all of this happen. Loved the people in the room. So it just shows that there's a lot of kindness. Um, and really just a lot of people who are great people and who want to do better for the people around them, not just for themselves. So all of that to say, I do think it was a great event, and we even had some outside feedback that said it was an event like no other. So [00:06:30] not just an accounting conference. Um, even though 11 CPE credits were given out to those who needed them for attending and participating in the two days, um, just so much more. So much more than just, uh, opportunity to earn CPE.

Marcus Dillon: Yeah. For sure. Um, but, yeah, you covered, you know, about how many people were there? Uh, I think we ballooned up to 120 ish. You know, that's how much the room could afford. And at times it felt compressed. And then when we pulled the air wall from [00:07:00] leader owner sessions to team sessions, that leader owner session really did feel a little bit tighter because the content that was in there, a lot of people wanted to, uh, wanted to follow that. So but yeah, the the activities were great. I know that we had, um, some really cool, uh, food options that were both walking distance and actually a food truck that came to the event that you procured. It was a, uh. Yeah, the brown bear. The the baked bear.

Rachel Dillon: Well, [00:07:30] you went there to the food. So let's just talk about the food, because that's always important. If you're spending money and taking days off to go somewhere. Um, food is important to us. So we make sure that we have great menus that most people will like. Um, and then also throw in some fun things as well. Uh, the hotel hotel then in grapevine has a European style food hall attached to it so you don't even have to go outside. But you have great restaurant options [00:08:00] like I think it's 7 or 8 plus a couple of bars within the hotel. That's not your typical like hotel restaurant, even though some of those are very nice. Um, these are more casual. You order at the counter or at your table and they'll bring it to you. But everybody can get what they want. We also did the baked bear is the name of the food. And so the baked bear, it, they did bring it to us. Um, of course, like outside Texas. Perfect weather in October. Not always [00:08:30] the case, but October was fantastic. But outside they call it their wine yard. And the food truck actually brought its an ice cream truck. So just imagine cookie sandwiches made out of homemade cookies for top and bottom and then ice cream in the middle.

Rachel Dillon: And of course you customize everything and then you can add any kind of toppings. So that was definitely, um, a crowd pleaser. Uh, and if no one else liked it, it's fine, I like it. And I would have been just. Just as just as well if no one else [00:09:00] wanted to partake. But that was a lot of fun. So I think, yes, food is a good thing. The other thing I want to mention, I don't want to save it for the end. This event already happened. We have another one coming up. It is reserved for members only. Our events so far in person have been all in Texas. Our next event will be April 22nd through 25th and we're going to Mexico. So we're crossing the border. We're going [00:09:30] international. It will be at an all inclusive, adults only resort, and we will do CPE, um, two days. We will have receptions and karaoke and dinners together. And then you can choose to extend your stay or go home. Um, but it is going to be phenomenal. So that is something open only to collective by DBA members. So if you've been on the fence about joining or wanting to come to an event, I would join sooner than later and get your ticket [00:10:00] for that.

Marcus Dillon: Yeah, and.

Rachel Dillon: Come on back together.

Marcus Dillon: Yeah. Well, I mean, so gather is the event that we have in the fall. It is more, uh, team focused. You can bring team recharge is the event that we have, uh, to really kick off improvement. Season recharge happens right after the April 15th tax deadline. Um, and it really just helps frame, you know, celebrate with your friends, uh, get some CPE and start that improvement season off the right way. So looking forward to recharge 2026 [00:10:30] in Mexico at a, you know, brand new all inclusive Marriott. So hopefully by the time this releases, there's still 1 or 2 seats remaining for our people that are listening to this that want to be a part of that.

Rachel Dillon: So maybe we can figure out what the hotel, how to get additional space, uh, for our group.

Marcus Dillon: I don't know, it's a boutique hotel. I think we're already pretty much taking it over.

Rachel Dillon: I think we're more than 50% of their occupancy as it is. So, um. Yeah, that may be tight. Let's talk about your opening session from gather. [00:11:00] I think you really set the stage for the two days, and also set the stage for the end of this year and all of 2026.

Marcus Dillon: Yeah. Um, and, you know, it's just that opening session. It's pretty much the only thing that I do solo. Uh, I don't go into a lot of the presentations by myself anymore. I've learned better, uh, that I'm just better off with a team around me. And so this really is the only 20 to 30 minutes that I had, uh, to prepare for. [00:11:30] So it comes straight from the heart. It's whatever's on my mind or whatever. You know, I'm leading through. And 2025 to recap that, you know, the the rally cry was the goal is growth, not comfort. We had a very large growth year. We added a couple a couple of director level positions, did a couple of acquisitions continue to grow collective? Uh, very intentionally. And so now that we're where we're at, you know, we're going into a season of refinement and then excellence. [00:12:00] And so as part of that, the one thing that remains constant is change. And so, you know, as I've been diving in over the last year with the growth season that we're in and thinking about, uh, the next chapter of refinement and excellence, change is interweaved into all of that. And, uh, when I think about how I want to position the organizations that we leave and even me personally, I would love to be seen as a change agent, somebody that can lead others through change really, really well.

Marcus Dillon: And [00:12:30] so that all kind of culminated into the rally cry for 2026, at least for me personally. I don't know if DBA or collective will adopt it, but uh, that rally cry is lead change. Create impact. And, you know, as as you think about all the people in your life, you know, at work and personally that go through changes. Um, you know, when you think about or look back, you don't really you don't you don't focus too much on the change or the pain that you went through. You typically remember the people that you did [00:13:00] it with and the people who were alongside you for, uh, navigating that change or those challenges or celebrating those wins and that success. And so, you know, when I when I look back at my biggest wins and what I've navigated well, I think about the people that were on the journey with me. And so a lot of people in that room like me, want to be remembered for helping others through change.

Rachel Dillon: Yeah. You mentioned something. Um, I think it was just yesterday you were talking [00:13:30] about, like, kind of our cycle at Dillon Business Advisors, and it was growth, refinement. And what's the third? Excellence and excellence. So going through those, um, again, just like in a cycle, like we do have those years of growth. But I think when we adopted, I think we did all accept it as the goal is growth, not comfort. We weren't just thinking about growth in revenue or team size or number of clients. [00:14:00] We're really thinking about growth personally and professionally, of what does it look like to delegate to someone else? What does it look like to upskill and learn that next new thing, or say yes to something that we don't feel like we have the full skill set to do, but that will make all of us better on the other side, individually and collectively. And so really embracing that. [00:14:30] So I know it's easy, especially when we're talking to accountants to go straight to numbers. But I think when we adopted that and when we even think about kind of our cycle of growth, refinement and excellence, that growth is not necessarily just a number or a revenue mark. Um, I just heard on A I just heard on a podcast yesterday or last night.

Rachel Dillon: Um, the lady said I was going to quote her, and her name is Cho Simon, I believe [00:15:00] is her name. But what she said was, you don't have to be blooming to be growing. And I just thought that was so important to remember. You don't have to see the blooms and the fruit in all of the things on the outside if we're thinking about it. Numbers and revenue. Right. Um, there's growth happening even if you can't see it in the results yet. And so I think that that's something that's super important to remember and to not get stuck on, especially as we're here at the end [00:15:30] of the year, if numbers don't look like what you thought, if you didn't keep the metrics that you needed to be able to say yes or no, that there was growth, um, there are often will say victories that have nothing to do with revenue that you can point out. So individual people, individual skills, um, things that have changed, things that we've said no to or that you've said no to, uh, and just that is definitely [00:16:00] evidence of growth within people and within the firm.

Marcus Dillon: Yeah. I love that quote. Um, and, you know, the Bloom's typically don't I mean, some things that you grow through, you'll never see a bloom. Right. And it may just be part of, uh, not part of your story, uh, to see what the bloom or the fruit could be. But you were a part of that growth journey. I love that. I think one of the most disappointing things to me, uh, whenever I am there to help people through change [00:16:30] and help them in their business, both, you know, at the DBA level with clients or prospects, but then also, uh, working with friends on, you know, that own CPA firms and are leading others that way. One of the most disappointing things to me is whenever you have a conversation with somebody a year later and they're in the same exact place that they were when you previously talked to them, and they have the same exact challenges. They have maybe the same wins. Uh, you know, it's just kind of, uh, wash and repeat, but [00:17:00] they they are no better off than they were when you previously talked to them. And that just that breaks my heart. Like, that's just unfortunate. And that's so disappointing because we've had so many of those conversations with prospects where we put them on our list to reach back out in six months, a year, 18 months, if, you know, we haven't remembered to do it well.

Marcus Dillon: And it's funny because a lot of times those those conversations, their pain points, their challenges are the exact ones that we were going to try to help them solve [00:17:30] whenever we first were introduced or when we had that previous conversation. And the same can be said of, uh, our friends in the CPA world. Uh, some of those pain points are the same exact ones that they complain about a year or two previously. Whether it's staffing or clients or whatever, and they just haven't implemented the right change to to move beyond that pain point into, you know, that next chapter which brings its own challenges. But it's one of those where I think that that [00:18:00] gets me every time. And so that's part of why that just being a better, you know, change, being better at change management is something that I look for in growth, something that I know that if I have the skill sets to lead through, change or navigate change well, regardless of what life or business throws at me, I'm going to be better off.

Marcus Dillon: And so we used to talk about change and how we communicate change to the team. And it came up [00:18:30] like the three questions that every team member has were what's changing? What is staying the same and how does this impact me? And those are three great questions. But those aren't the only three questions. And so in in another group that I'm in, C12, it was also very timely that we're going through a lot of change management discussions and how to steward and shepherd people through change and what that looks like. And so there's this concept of the four P's framework. And I also [00:19:00] led with that during my opening, because I thought it was helpful and expanded beyond those three questions to what as an owner, as somebody that is leading others through change, whether it's an acquisition, new clients, new team members, whatever the change could be, you're leading people through it, most likely. So I wanted to introduce that for peace framework and also talk through that. And I know we didn't spend much time on it day one, but I know that we're going to probably highlight [00:19:30] it whenever we move throughout 2026, both in DBA and collective.

Rachel Dillon: Yeah, I thought I thought the opening was great. We, you know, had we left with an idea of lead change, create impact. But what I really love about collected by DBA, the team, the community as a whole, all of the members is that we don't really stop at just the inspiration or that was a great idea. We always go to the practical. [00:20:00] That's always our challenge is to go to now, how are we going to do it? And I think the four piece framework was perfect for that. And so why don't you share a little bit about what what are those four piece first. And then we can talk about each one of them just so we don't leave the listeners with like, hey, there's this great framework to help lead through change, but we're not going to tell you what it is.

Marcus Dillon: No, for sure. And I also we can't in today's conversation without mentioning our friend Sean, what his takeaway from [00:20:30] the conference was. And I definitely want to want to hit on that. We don't have to do it now, but do want to remember that whenever we come back to it. So, uh, but the four P's, so you've got four different pieces. We can put a visual in the show notes or link to that. Uh, but the first P is purpose. And so the question that you would ask in whenever you're leading through change or implementing changes, why are we changing. And so the lens that you answer that question through should be your [00:21:00] mission vision and values. So it should align with your mission, vision and values which you've created and lived by prior to this change. Right? You're not changing your mission vision values based on a change. Your you're seeing the change through the lens of those mission vision values. So that's the first one. Purpose is the first p. It is that question of why are we changing. The second one is picture. And this is where I don't do a great job. You have to paint a great picture of what it looks like on the other side of this. Change [00:21:30] what it looks like going through this change. So as people are navigating change with you, they know what to prepare for. So the question that you would ask for picture is what does success look like? And painting a clear picture, pausing long enough to actually communicate what that picture is to those around you and your stakeholders is very important. So those are the first two purpose and picture. I'm going to stop there. Is there any gaps that I need to fill in on those two?

Rachel Dillon: Nope. [00:22:00] I think those are great.

Marcus Dillon: Okay. So then moving along. The third one is plan. So we've got purpose picture and then plan. And that's where you ask that question how do we get there. We saw we we we answered why we are changing. We. Then we then painted a picture of what success looks like. Now we're getting to the plan. How do we get there? Are we going to that destination? Are we moving fast? Are we taking it slow? Are we taking [00:22:30] the long road? What is that look like in that plan? Once you have the plan, then you can go execute. So once you go execute, you can also celebrate different phases of that plan and milestones. You'll know when you're 20%, 50%, 80% there and you can celebrate and then maybe push or sprint to that next, uh, next threshold. You know, that next milestone. So so we talked about purpose picture plan. And then the last one is part and part is that one [00:23:00] that you also have to communicate really, really well. It is what is my role. And so you know back to those three questions that we answered. What's changing. What's staying the same. How does this impact me that how does this impact me. Is that role. Um, and so it's what part are you playing in this as a stakeholder, as a team member. And then that helps foster ownership provide clarity. So if you can answer all four of those, the four P's purpose, picture, [00:23:30] plan and part, you're going to lead through change way better than if you didn't.

Marcus Dillon: And if you take an example, right, like real world example, we just did an acquisition. We did a couple this year. And so the purpose, um, you know, we're doing this acquisition because it aligns with our mission, vision and values of impacting others and creating a great place to work and just, um, you know, all the different things that we filtered that through first. The second is what does success [00:24:00] look like, a fully integrated team under one brand, serving very similar clients and very similar ways with the team structure. How do we get there? So then you get to plan and then you start mapping out what the first 30 days looks like as you start to get your hands around team and clients and what technologies they use. And then what is the first 90 days look like as you start turning some of those technologies off and assimilating into a very common tech stack across teams, and then you even think about team roles and [00:24:30] team structure and what does that look like? And we wanted to do that within the first 90 days because as we've heard from friends that have done acquisitions before, you know that time is critical in that first quarter. Um, if you go beyond that, then people just continue to do what they've already done, what they've done their whole, you know, career.

Marcus Dillon: Stop at that, at that employer. So we definitely wanted to bring team together within this first 90 days. And then the part and part has to be answered for every person on the team. And so we had some existing DBA [00:25:00] team members and we said, hey, you're part in this is continue to serve your clients that you have really well right now. Maybe a part that you can play in this is you're a mentor to one of these new team members, and you get paired up to somebody that's in your same role, and that's the part you play. That's the additional part. And then another one could be, hey, you're part in this. As you're about to receive a whole lot of new clients and a whole lot of new relationships that you're going to be responsible for and you're going to take point on. And so those are three different, very different parts, [00:25:30] uh, that could be played within the same team with the same, you know, with the same change. So as leaders, we had to answer purpose, picture, plan and part for for most every change. And if you can do that, I think you're going to be much more successful. You have ownership, you're going to have buy in and it's just going to be a better experience.

Rachel Dillon: Yeah, I will say we, you and I have been in this game a while now. Right. You since 2011. And then I joined with you in 2013. Um, [00:26:00] and we have not always done it this way. Right. We communicated the change mostly. Most of the time we communicated that there would be a change. Um, but rarely did we think through all four parts to be able to roll out before anything actually started happening with the change. And so that's a that's a challenge, I would say, for all leaders, no matter if you're leading one person or ten people, no matter if you're, you know, leading from the top [00:26:30] or leading from your position in the middle, Or um is think through these have an answer for all of these. Before you communicate that change, you can let people know a change is coming. You can let them know what you're working on. But before anything changes for an individual, make sure that you have all of these thought through instead of trying to figure it out. It will go so much more smoothly and the team will be able to come [00:27:00] alongside and help you. You as the leader will not be in it on your own, trying to drag people along and make the changes. Um, you will have people who are stepping into their role, into their parts and know what it looks like to be successful. So just making the whole change a success, but also easier, um, as you go through it.

Marcus Dillon: Yeah. Uh, two things like, obviously we've communicated a lot about whole team and how you, um, you know, talk [00:27:30] through change one you're you're leading yourself as well. So hopefully you kind of have your reasonings for each of these and can kind of hold true and keep yourself motivated on whatever that change could be. And um, then you hopefully have a safe space between yourself and the whole team. And for us, that's the leadership team. So a lot of times maybe we're we're diving into each of these and we're trying to firm it up a little bit to make it way better than if any one person came up with it on their [00:28:00] own. Um, and that's where, um, you may have these different teams that play different roles, different parts, um, in communicating change and, and really leading change. So, so that was what we started off with. That's just where personally I am. That's where our leadership team is. We want to lead others through change really, really well. We know that creates impact. It creates, you know, a lot of fruit on the other side. Whether or not we get to see that fruit, uh, during our lifetime or our relationship [00:28:30] Cycle. Um, or if it's just something that bears fruit down the road. So, um, but that's what we led with, um, I think a lot of people connected to that just because it's not it's not rocket science. It's not like it's some crazy, you know, AI, you know, whim that's out there. It's just good, good protocol that people know that they should be doing and that regardless of what technology is floating around us or how big or small your [00:29:00] team is, everybody could could do better at change management.

Rachel Dillon: Yeah, it just the four piece framework gives a lot of clarity to everyone involved. And maybe, maybe that means that somebody sees that four piece framework and they don't agree with maybe their part in it, or they no longer see the same mission, vision and values that the company does. But that gives them a good time to raise their hand and say, this [00:29:30] doesn't fit where I'm at right now. You know I'm not going to be part of this anymore. I think for the majority of people, they do share the same mission, vision and values. So when you can show and just provide clarity on what does success look like, what is the plan and what is their part, how how do they help move the change forward? How do they achieve success in their position? And for this initiative or this [00:30:00] goal that the firm is taking on? I think most people are happy to move forward with that. People do like to develop and grow, um, personally and in their career. And so I think that it's it's often the clarity that's missing that causes, um, a lot of the problems and confusion and ultimately kind of, um, fractures relationships. And so this really helps with that and just takes a lot [00:30:30] of the pain out of change as we know it. Most of the time there's so much pain in change. Just because there hasn't been a plan put in place or communication has been lacking.

Marcus Dillon: Yeah, so so that's how we started, you know, the event and I think it was well, we always have a call to action at the end of the opening where people can, you know, the what about you statement. Like how are you going to take this and what are you going to get over the next couple of days? And um, I think we said it pretty well [00:31:00] from the front of the room that, you know, we were just the people who booked the hotel and set the table. And a lot of the work was done around those tables throughout the next couple of days. And, you know, our team and others led sessions, uh, on the other side of this, whether they were team focused, leadership driven, or if they were about true data. Uh, you know, I know that accountants love data. So day one, you know, we always dive into KPIs. And so that's those shared numbers [00:31:30] across membership and across people that will share that information. So some of the firms that were in the room weren't weren't members of collective, but they were there and they shared their numbers to see, you know, where they are and benchmark. And that's all anonymous, you know, you know which number you are, but you don't know which number the person sitting next to you is. And I think that's good. You know, it's just everybody's firm is a little bit different. Everybody runs different businesses. And you can just kind of see and benchmark. And obviously we talk through what people are doing. Well the trends [00:32:00] that we're seeing um, in in both the industry as a whole, firms are size but then also, uh, speak to the firms in that room.

Marcus Dillon: And, you know, the the results of those KPIs aren't, aren't shocking. I think people are growing their businesses. Um, revenue is up. But the same side of that, um, expenses are up, you know, so, uh, the, the thing to do is maintain, you know, Profitability as you grow and as you bring on additional people, [00:32:30] additional technology. Uh, the one KPI that stood out that I was so proud of, uh, for that room was, uh, that owner hours in production dropped about 10%. And so that's great. And we have a lot of people in that room curious about their succession event. You know, obviously there's a lot of talk, uh, in that room and outside of that room in our industry about what succession events could look like. And so we we kind of picked a handful of KPIs that we were definitely going to say, hey, work on [00:33:00] these five KPIs and that will that will improve your chances at a, at a successful succession event. And, uh, one of those is owner hours, right? Because as I've evaluated firms, uh, if there was a firm owner working over 2000 hours per year as a buyer, you probably have to hire two people to replace that owner that's going to exit, or you have to sign up yourself as the buyer to do 2000 hours production, which [00:33:30] most people don't want to do, especially if they're a new buyer in this new market that involves family offices, private equity, all that fun stuff.

Marcus Dillon: So, um, but yeah, like was so excited about KPIs. That always gets a lot of questions. Um, so that was, uh, leader owner session. Uh, just because there is some data in there that shared, uh, maybe that a team member, not that we don't want them to know that data, but it's just that maybe they aren't there to [00:34:00] grasp what that fully means. Uh, as far as, like, there's profit. I need to make more money, you know, but they don't know. Maybe some of the other things that go along with, uh, running the business quite yet. So, um, but I thought I thought the case studies that we did as well, we did a few of those sprinkled in and throughout the KPIs where we actually had firm owners submit their data and say, I would love a room of highly qualified advisors [00:34:30] to speak into my firm and to answer these 2 or 3 questions that I have about what I want to improve and what their take would be on it. So we did that. We did two case studies, uh, with anonymous firms. And then that firm, those firm owners got all of the advice from the room, which I did quick math. And I kind of I said it was about $20,000 value per hour in that room because I know, you know, historically what firm [00:35:00] owners and partners like that charge. And so that room was was very valuable to those people who submitted those case study questions.

Rachel Dillon: I love that two things about that. One, we are keeping that. So doing the case study in addition to the KPIs was a new addition, um, to gather 2025. And so we will be taking that also to recharge new, we will have updated KPIs that everyone will submit ahead of that event in Mexico. [00:35:30] And then we will have, um, people, new people, raise their hand and volunteer to be that case study. It also reminds me of our mastermind groups where we do, um, core firm presentations. So one mastermind group member each month gets to basically present their some of their KPIs, the history and the makeup of their firm, and then ask two questions of the group of 10 or 12 people that [00:36:00] they meet with every single month. And so they just take turns. But during that core firm presentation, you get most of the information as a participant that you would need to be able to advise. But it's live in that you can give, you can fill in gaps. So if there are questions in addition to that advisory, you can answer those questions. Um, and just get deeper understanding from that and deeper advice.

Marcus Dillon: Yeah, I love that we do those core firm presentations [00:36:30] within mastermind groups now. Um, it kind of just added an element that wasn't there before where you can you can feel like you're in the hot seat, you know, kind of being grilled like, man, why is your technology costs so much? Like, why are you doing so many experiments? Turn that crap off all the way from like, people truly care about you. Like these are the friends that are doing you're doing business alongside. And so you're you're honestly asking them, like, what would y'all do in this situation? Whether it's, hey, do I need to take a pay cut and hire, you know, [00:37:00] this next director level person to kind of get me out of this role? Or should we sell off clients? Should we raise prices, all of those different scenarios that are really, really good. Um, we also have, you know, people who are going through change, uh, in their core presentation where it's, you know, they're they're having a partner retire. They're, doing different things and, you know, just being surrounded by people that that love you and want to know what's best for you without having a vested [00:37:30] interest. Right. Like, they they could they're not going to financially gain or lose from the decisions you make. They just care about you. And so I think that's a really cool thing that happens on a monthly basis within mastermind groups. But then also being able to do that at these events is is really neat too. And so we we saw it, we we tested it. And I think it's here to stay. So that's really cool.

Rachel Dillon: Another session that we had that was super popular and kind of piggybacked on the KPI session was [00:38:00] another session, but it was on firm value and levers you can pull to increase or maximize the value of your firm. And we took some KPIs and we took some actual, um, exercises or activities that you can do on your own firm. Um, but we're going to save that. We're going to hop over it because we're going to do a whole podcast on just that one session. Um, so if right now in the middle of this episode, if you are not subscribed, [00:38:30] make sure you subscribe so that you don't miss that episode on increasing your firm value.

Marcus Dillon: Well, yeah. And the other the other thing there is the the handout or the deliverable that goes along with that session is extremely valuable.

Rachel Dillon: And and we'll do we'll do it as a download. Um, with that session we'll put it in the notes, not this one. So make sure that you're subscribed. Um for when that one comes out. We'll be recording it here soon. Uh, and then it will come out before the end of the year. [00:39:00] Um, but another session that we did. So those KPIs, that increasing firm value that was on the firm owner and leader side track of the gather event, the team members were in another um, collaborative session where it was a challenge solution, Um, activity in round tables. Again, these were challenges, real firm challenges collected ahead of the event. Anyone from the team that was [00:39:30] attending could submit a current firm challenge. And then what we did was we did a challenge solution framework and we had groups of team members. Some of the owners came in on that side because they wanted to be part of and hear that conversation. But we went through those challenges and we really looked at, okay, what is what is the challenge that was provided? Also, the tech stack and a little bit of history on the firm was provided. And then, [00:40:00] um, like solutions that had tried and failed solutions that the firm had tried but didn't work out. That was all given then. It was the job of our attendees to come up with. Are there additional questions that need to be answered? What are possible solutions? Who should be responsible for implementing and what are the tools that you might need? And so those were things that we collected. We had over 24 [00:40:30] submissions of current firm challenges. Some of them overlapped and some of them were kind of standalone independent. But some of the challenges that we looked at were lead generation for new prospects and clients, for firms staying connected in a remote environment, better use of AI by the team and just in the firm in general, increasing productivity of team members, training new team members and then decreasing the time that it takes for clients [00:41:00] to provide information.

Rachel Dillon: And so there were more there were a lot more than that that we went through. But those were some of the big ones that were kind of repeated over and over again. So we definitely addressed those. And what came out of that was really fun. Even something that you would think these team members are maybe doing like an accounting staff member, a tax staff member. Um, they had great ideas for lead generation. So utilizing the perspectives and the knowledge [00:41:30] and experience of the whole team. It's not always up to the leader to solve every challenge in the firm. Um, and what we just found, we called it borrow brain share a solution. Thanks to, uh, Amy and her AI assistant on that name. But really, whenever you do have more brains coming together, you always get better and more solutions than you would get if you were only thinking about it on your own. Um, and so, again, I think that's one that [00:42:00] will continue over into recharge 2026, just because it was a great experience to hear what people are doing. As you're giving out those possible solutions, people are sharing all kinds of things, and maybe they're also sharing what not to do. Other cautions and warnings of what not to do. Like this firm tried one thing, but they tried three others. That didn't work. And so it really just is probably a lot of time and money saved by working through current firm challenges [00:42:30] with a group of like minded people.

Marcus Dillon: Yeah. For sure. Um, and like, like I already said, there was a lot of table time, a lot of things that people were taking notes, I don't know. Usually our friend Denise has, like, the most notes. Uh, pages. Um, I don't know if we need to create an award for that in the future. Um, but the other session that stood out to me and to a lot of other farm owners, um, was the one that Angel led. And so Angel is our [00:43:00] director of technology at DBA. He also speaks at collective events. He's also available to collective members for consultation if needed on it. And different tech stack stuff. Um, but Angel presented what he's been working on in DBA and some of the stuff that he works on, I don't really even know. Uh, the experiments, uh, failed or successful and, uh, something he's been working on is building out agents within DBA and so using AI. And he broke it down. He and Amy led a session [00:43:30] on the agents he's been building within Microsoft Copilot, because that's within our bubble. We are a Microsoft shop. He controls all the security and everything like that really well within our Microsoft environment. And that's where he tests things. So the agent that he shared with others is how he built an AI agent. That points back to our DBA, um, knowledge base. So it it goes back to an agent is just a chatbot that goes to a defined [00:44:00] knowledge base that you point it to, and it helps you navigate whatever you want it to navigate. Right. So he built this AI agent for internal DBA team members to ask questions of, uh, what's our PTO policy look like? What firm holidays exist.

Marcus Dillon: What do I need to do to get this approved? All that fun stuff and that AI agent or chatbot will walk the team member through those easy questions and navigate back to where they can pull that data. Much like AI or an [00:44:30] agent would do as it's scraping the internet, we have built these agents specifically for our business in a very controlled knowledge base. So it pulls only from where we want it to pull from. So he shared how he's built those and went to great detail. Um, and you don't you don't have to have anything special. You can just have, you know, the right level of Microsoft, the right level of copilot subscription and do that yourself. So I know that was very helpful, um, for firm owners to see and, you [00:45:00] know, whole team to see because the, the world that we're in right now with softwares announcing AI and agents every day, I think we're all kind of, you know, leery if they're going to work or not. Um, and have been burned on experiments. So it's almost like we don't even want to raise our hand to be beta testers anymore. We really just want it to be so worked out and so refined. By the time that we really invest in trying to learn some of these new technologies that are releasing. So I know that that was [00:45:30] a highlight for a lot of folks. And Angel does a great job. He's very intelligent when it comes to that stuff, and it's cool to see him show off what he's doing.

Rachel Dillon: And he can also break it down into simple enough terms and pictures, usually, um, that even I can understand. And so I think that that's also a great skill to have. Right. And when you're looking for help from someone, not that they just know how to do it, but they can communicate to you where either you can go do it or [00:46:00] at least understand what someone else is going to be doing for you. I think it was really cool to that that knowledge based agent or knowledge based bot that we now have, um, it really addressed one of the firm challenges that came through, which was we have all of our standard operating procedures documented now. We have role specific documents, we have firm wide documents on just different procedures and things. How do we keep them [00:46:30] updated and where do we keep them stored so that people can easily access and use them? Um, this kind of helps with the ease of use and accountability of not just like asking maybe a friend or guessing, um, and just being able to type in the chat and just say, how do I do this? Or where do I find this? Uh, or who do I submit this to? That's, um, a great way to do it. It didn't solve for how do you keep [00:47:00] those constantly updated? Um, we gave some other ideas for that. And we actually put all of those challenge solution frameworks completed, um, typed out with all of the ideas into the Collective Community Resource Center. So those are available for anybody, whether you submitted the challenge or not, to go through and utilize and see if there's something that your firm is struggling with as well. So that's um, again, just available in there for members [00:47:30] of collective.

Marcus Dillon: Yeah. So really cool that all that gather, you know, all the slideshows, everything like that, all the deliverables, all the resources are now, you know, in our collective community resources, um, available for all members and people to download, including team members. We're now over 300 team members in collective platform. So that's really cool that, you know, all of that can be accessed by, you know, not just an owner, but a team member who may have a question or two about [00:48:00] SOPs and everything like that. So, um, well, you know, the way that we ended, uh, the event, it's always sad to see it come to an end. Um, but it's really important to actually take time to focus on what you heard and then prioritize what you're going to work on. And I know that we can we can get overwhelmed anytime we we come away from an event like this. And so the the second half of the day on day two is mainly [00:48:30] allocated to time for teams or friends, you know, to come together, maybe a friend and bring their team, but they know, you know another firm owner in the room that they can buddy up with and break it down. And you know, what did you hear? What did you hear? What are you going to work on? And so I think everybody spent a couple hours doing that. And they were spread out all around, you know, the hotel and the ballrooms, um, making sure that they, they did that and they were all head down. Dba and collective team [00:49:00] members were weaving ourselves in through conversations as well. So that's always a really good way to end the conference. Um, you know, and just the feedback that we got, I think, you know, Sean shared it with you. Um, really? Well. And I don't want to butcher it, so why don't you go ahead and share his takeaway? Because events like this do seem overwhelming sometimes.

Rachel Dillon: Yeah, and I probably won't. I'm not quoting this. So, Sean, if you're listening, I'm sorry. Um, but Sean just said something about. This is the [00:49:30] first time that I'm leaving feeling confident about what I'm going to do and not feeling overwhelmed and defeated, that I'm not doing enough. And so, um, again, I don't I don't think that was direct quote. So, um, but the idea there of just feeling like all of the new ideas that he heard, if any, he felt equipped to take them back and implement and [00:50:00] all of the things that he's been doing got some confirmation or validation on, yes, this is working. And this is I'm moving in the direction that I want to go. Um, and I think that that is awesome because it is easy to get overwhelmed after hearing, you know, hours and hours of new ideas and sessions and sometimes even to think like, there's no way, there's no way. And you just leave and think, well, I'm not going to do anything. I'll take my CPE [00:50:30] certificates. And then that's what I got out of that conference. But again, like you mentioned, having that end time to process that way you either have your team there in your planning, or maybe you're there alone and you are grabbing that friend like you mentioned, grabbing a collected by DBA team member or a DBA.

Rachel Dillon: Um, just a regular DBA team member, even the vendor partners at that point, right? Because if your next step is to implement or transition to a new program or software, then [00:51:00] you have that person there and you can start scheduling your meeting. You can know who to talk to. You can start setting up, um, just like implementation steps to move forward. And so I think that is probably what was helpful. Just kind of in that circumstance, as well as just every session, has something practical to get you started or to help you complete whatever's been presented and also allows you to delegate. [00:51:30] Right? So very few of the ideas that we present are for the owner to implement on their own. Most of them are laid out in a team approach to where you can delegate and have specific people or specific roles within your firm that the plan is already laid out of, how those people can come alongside and help.

Marcus Dillon: Yeah, and I think to leave people feeling like they can do it right. Um, he's all everybody in that room, uh, is the top, top of the spear. You know, they're [00:52:00] all great folks. And, um, you know, he's surrounded himself with a great team, great partners. He's in a mastermind group. He's getting advisory as well with collective, so he surrounded himself. But even if you don't have that, you can leave that event feeling very confident. We've given the resources. You've gone through the exercises, take those home, take those to your team, do them as a team. Um, and then just know your your firm and your business that much better. So I think gather was a was an overwhelming success. We couldn't be [00:52:30] more more excited about you know, how that ended, how it went, uh, really looking ahead to what what will what fruit will come, whether we'll know about it or see it, or if it will just be something that we know is there, that we can't see. And then also looking ahead to continuing to to really help our friends navigate change really well, create impact, and then ultimately celebrating together in Mexico in April. And, um, you know, [00:53:00] the cycle starts all over. You know, it's one of those things where it's fun and the problems that these, uh, firm owners and leaders are working through today will not be the same problems or challenges a year from now.

Rachel Dillon: That's right. Well, thank you so much for sharing. Thanks for, um, giving us a new rally cry for 2026. Uh, and I and it didn't and it didn't say growth. So that means maybe we don't do another firm acquisition in 2026. [00:53:30] Um, 2 in 2025, I think were enough.

Marcus Dillon: All right. Well, hey, thanks for leading the conversation and we'll see you on the next.

Rachel Dillon: Thanks for listening to this episode. If you enjoyed the conversation and want to learn more, be sure to visit collective. You can schedule a meeting directly with me, Rachel by clicking on the Contact Us page. Be sure to subscribe, like, and share so you don't miss any future episodes. We look [00:54:00] forward to connecting with you soon!