Many accounting firm owners take pride in leading from the front. They’re in the trenches with their team during tax season. They review returns late at night. They step in to handle client issues personally.
It earns respect, boosts morale, and inspires loyalty.
But it can also destroy the value of the firm you’ve worked so hard to build.
According to data from The Value Builder System™, companies where the owner is the hub get offers that are 35% lower than those that run independently of their founder.
Buyers don’t pay top dollar for a practice that revolves around its owner. They want a firm, not a boss.
When Dedication Becomes a Liability
Take the story of Doug Lowenthal, who spent nearly 20 years building TruTechnology, a multi-million-dollar IT services firm. Doug’s definition of leadership was doing whatever it took—managing the help desk, answering support tickets, even working through holidays. His team admired his dedication, but the pressure never let up.
One day Doug felt a crushing weight in his chest. Convinced he was having a heart attack, he rushed to the hospital. Thankfully, it was a false alarm—but it forced a realization.
Doug had built a thriving business, but he was at the center of everything. His team was capable, but he hadn’t let go.
For accounting firm owners, this situation often looks like:
- Personally reviewing every client file before it goes out.
- Being the main point of contact for top clients.
- Jumping in to fix bookkeeping issues, tax errors, or staffing gaps.
It feels like leadership—but in reality, it creates dependency.
Letting Go Made It Valuable
That health scare pushed Doug to change. He gave real ownership to his department heads. He tied bonuses to profit. He opened the books and taught his team how the business actually made money. From gross margin to operating expenses, EBITDA became everyone’s North Star.
The result? His team started thinking like owners. The business began to run without him.
Not long after, Doug sold TruTechnology to Evergreen Services Group in a 100% cash deal—proof that stepping back doesn’t erode value; it creates it.
For accounting firm owners, the lesson is clear: if you want a practice that grows in value—and that someone will actually pay a premium for—you must design it to run without you. That means:
- Empowering senior managers and partners to make real decisions.
- Training staff to own client relationships.
- Sharing financial literacy so your team understands how their work impacts the bottom line.
By moving from “hub of the wheel” to “builder of the system,” you’ll create a firm that’s both more valuable and less stressful to run.
Building a Firm That Runs Without You
So how do you actually make this shift?
One proven solution is leveraging the resources offered through Universal Accounting Center (UAC):
Optimize Your Tech Stack – Use UAC’s Virtual Trade Show and Toolbox to make your firm more efficient, automate tasks, and reduce bottlenecks.
Train Employees to Promote Independence– Enroll your staff in UAC’s certification courses, which provide high-quality instruction in accounting, bookkeeping, and advisory services. With the right training, your employees gain the skills and confidence to act independently, rather than relying on you for every decision.
When your team is well-trained and your systems run smoothly, you’re no longer the hub of the wheel—you’re the architect of a firm that grows in value, runs without you, and gives you the freedom you deserve.
Ready to build a stronger, more valuable firm?
Explore Universal Accounting’s Virtual Trade Show and Toolbox and Certification Programs for bookkeeping, tax preparation and business advisory to start training your team and strengthening your practice today.
Call 435-344-2060 to learn more, or schedule a free consultation at your convenience online.
