The Benefits of A Highly Niched Virtual Business

As the founder and Managing Director of Lance CPA Group, Joshua Lance has created a doubly unique CPA firm. Firstly, it is an entirely virtual practice with its 14 employees spread across the country. Secondly, it provides accounting and consulting services only to craft breweries and digital agencies. In this episode, Josh shares the journey that led him to establish such an unusual accounting firm, the benefits of having a virtual-only and highly-niched practice, and some of the unusual and interesting activities that keep the country-wide employees feeling connected and part of the team.

Joshua Lance is the founder and Managing Director of Lance CPA Group, a virtual CPA firm that focuses on providing accounting and consulting services to craft breweries and digital agencies. A licensed Certified Public Accountant and Chartered Global Management Accountant, Josh spent his early career at Crowe LLP before working as a Controller at an ultra-high net worth family office. Josh is also an adjunct professor at Northwestern University in Evanston, IL teaching accounting in the Farley Center for Entrepreneurship and McCormick School of Engineering. Josh was honored by being selected to the 2017 class of the AICPA Leadership Academy and was named as one of the 40 under 40 in 2017, 2018, and 2019 by CPA Practice Advisor. Josh was recently appointed to the Illinois CPA Society Board of Directors and the AICPA PCPS Executive Committee.

"We want to grow in a way that’s healthy and sustainable so employees can be proud of what they’re doing and excited about what they’re doing." @lancejd1

What You'll Learn From This Episode:

  • Why Josh Lance initially left the corporate world
  • The turning point that ultimately led him to create a global virtual accounting firm
  • A unique pricing structure that improves client trust and employee productivity
  • Why the firm’s employee acquisition and retention rates are so high
  • The benefits of not tracking time
  • How the company uses technology to collaborate effectively with each other and with clients
  • Why the firm chose to become highly specialized in two specific niche industries
  • The benefits of having an accounting firm that specializes in your business
  • Why content marketing can help grow your business
  • Why it is important not to expand your business too quickly
  • Some interesting and fun ways the company keeps its 14 virtual employees feeling connected
  • How to create a culture when your employees are spread across the country

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