Tim Abbott shares his journey from merging his small practice into MJ Vanden Brook in 2012 to becoming the third-generation owner of the 50-year-old firm. He discusses two major acquisitions, including modernizing operations from clipboards to cloud technology, and reveals why keeping previous owners around for 2-3 years led to high client retention rates.
Introducing Collective by DBA
https://collective.cpa
https://www.linkedin.com/company/collectivebydba
Learn More About Dillon Business Advisors
https://www.dillonadvisors.com
https://www.linkedin.com/company/dillonbusinessadvisors
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- (00:00) - Introduction and Welcoming Tim Abbott
- (01:08) - Tim Abbott's Background and Firm Overview
- (02:50) - Team Structure and Work Environment
- (04:12) - Personal Life and Family
- (05:22) - Best Advice Received
- (06:48) - Journey to Business Ownership
- (08:13) - First Acquisition and Modernization Efforts
- (11:34) - Second Acquisition and Transition Challenges
- (18:49) - Client Transition and Relationship Management
- (20:49) - Lessons from Recent Acquisitions
- (22:15) - Challenges with Referral Sources
- (24:31) - Surprises Post-Acquisition
- (28:55) - Evaluating Buy vs. Build
- (33:51) - Current Goals and Initiatives
- (41:48) - Importance of Peer Relationships
- (45:53) - Looking Ahead: Future Plans
- (48:05) - Conclusion and Contact Information
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