James Graham: Doubling the Firm with CFO Services

CPA Trendlines Podcasts

Where there are unmet needs, there are opportunities.

The Disruptors
With Liz Farr

James Graham’s firm, Richtr Financial Studio, gave up the billable hour 10 or 15 years ago, and points to that choice as something that made the biggest difference in his firm.

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He said it's because “it really changes the nature of your relationship with the client” when the client is no longer looking at the clock with “that dollar per hour at the moment, always hanging over any interaction.” By removing the focus on time, “it allows everyone to move forward better because the focus is on running the business.”
His firm, which specializes in outsourced accounting and fractional CFO services for innovation companies, is in the process of growing from 26 to 50 team members. “One of the things that I really like about growth is it creates opportunity for our team,” Graham explained. These opportunities include moving to a higher position or becoming a specialist. He also notes that firms that don’t offer growth opportunities risk losing people.