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Introducing Stack. The AI operating system that lets accounting firms take on more clients without hiring. Learns your firm's process, runs the close, posts the journals. Fully auditable. We’re living through the biggest shift in accounting since the spreadsheet.

940,848 görüntüleme • 3 ay önce •via X (Twitter)

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Excellent write-up. "Fired as banker. Then 90 deals and A$50m of EBITDA" Brett worked at several accounting firms and became frustrated by their management and ownership structures... left and launched his own. Brett Kelly initially expected to own 75% but changed the structure to 51% for Kelly+Partners and 49% for the local partner. An owner who wants to fully cash out will never take this deal, but those who want more upside will find that selling 51% makes total sense. It's important to add that KPG targets 35% subsidiary EBITDA margins, compared with an industry average of roughly 18% to 19%. Enjoy. Timestamps: 0:00 Brett Kelly's early years and losing his job at 22 3:57 Writing to 80 successful Australians while unemployed 9:13 The moment Brett decided to start his own firm 12:24 Launching Kelly Partners with a clear long-term vision 13:22 Inspired by Disney, McDonald's, Ritz-Carlton & Berkshire Hathaway 17:10 Choosing the right clients and creating a business system 18:36 The 204-step operating system behind Kelly Partners 19:01 The acquisition strategy: becoming #1 or #2 in local markets 24:05 Winning clients through a differentiated value proposition 28:27 Lessons learned from 95 acquisitions 29:06 Why the 51/49 ownership model works 31:39 What types of firms Kelly Partners acquires 32:59 Capital allocation and building a capital-efficient roll-up 34:30 Doubling profits after acquisitions: the biggest lever 35:18 AI, accounting, and the future of professional services 36:28 Permanent capital vs. traditional private equity 37:20 Brett's biggest challenge today: financing growth 37:53 Kelly Partners' 17-step hiring process 38:28 The future: building a global accounting platform 39:45 Focus, systems, and operating at world-class standards 41:17 Why passion and meaning matter in business 43:05 How accountants can genuinely improve people's lives 44:24 Final thoughts on leadership, culture, and making a difference 45:32 30% revenue CAGR, 35% book value growth & 90+ acquisitions

PrivateEquityGuy (Mikk Markus)

35,952 görüntüleme • 1 ay önce