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H@H Ep. 76 - Bob Wang, EW MBA Student talks about his journey from the Czech Republic to Vancouver and explains how his problem-solving mindset has brought him this far. He recalls how his upbringing and seeing his entrepreneurial parents taught him about the freedom and limitations of being your own boss.Find out how he used these skills to start Legacy Advantage, a company he founded by identifying a problem and creating a solution that works twice as well. In this episode, Bob offers practical advice on how to use technology to streamline bookkeeping processes, hiring, salaries, and incentives. Discover how he is helping others find the Road to the C-Suite with his peer mentoring and accountability group!Episode Quotes:Why Bob Wang chose Haas for his MBA[00:03:21] I really enjoyed it, but I want to learn how to run a larger and larger business, a hundred-person business, a thousand-person business, a 10,000 person business. And there are different skill sets that I would need along the way, so, that's why I chose Haas.Starting Legacy Advantage by identifying a problem he wants to solve[00:04:37] So, what was weird is that the business owner actually had to pay for the bookkeeping to be done twice. One, somewhat accurately done by the bookkeeper, and then once again, by the accountants to fix it up. So, there are inefficiencies there. And with cloud technology, you can make this very manual in a way, high-volume business profitable. So, that's what I did. I created a services business, specialized in the bookkeeping aspect, that was able to employ high professionals and use technology to increase their efficiency. So, my team members were 1.5 to two times more productive than my competitors at the time.Entrepreneurship is about having control and managing risks[00:06:34] Entrepreneurship is not about taking on risks. It's about managing risk. Learning how to mitigate risk. There are a lot of risks. Sure. But it's not like you should go and seek it. The entrepreneurs, try their best to mitigate it as much as possible. And the way I view that is, within entrepreneurship, if you start a business, you really have control over everything.Show Links:LinkedIn ProfileSupport this podcast at — https://redcircle.com/here-at-haas/donations
What’s it like to quit your job, launch a company and sell it for $1.8M? How does making an impact tie into that? Bob Wang and I dive into everything from his start-up to starting a family, from marriage and mission. --- Send in a voice message: https://anchor.fm/millennialswithmachetes/message
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Who is the most influential bookkeeper? Well in the time between knowing Bob, interviewing him and turning his episode live he has:Started Legacy Advantage, a cloud-based bookkeeping firm that grew from $0 to nearly $2Million in 3 years.Had 2 kids.Sold Legacy Advantage to Deloitte where it is now operating under the name CTRL.Moved from Deloitte to become VP of finance at Traction Guest, a SAAS company that is " on a mission to make hosting visitors effortless, memorable, and safe." Angel invested in the following companies:RentMoolaSpiraE-FundPhytonixWorld Tree TechnologiesCraverTouchJetVERIFYIQTo better understand where all of this passion and energy comes from, we need to wind back the clock. This is a quote from Intuit's firm of the future (Link to the whole post HERE) “My grandparents made tofu back in China. It’s very, very hard work. When my parents saw that work habit and started their business in the Czech Republic from nothing, earning enough to have us immigrate to Canada, it changed the entire destiny of our family. I watched my parents go to work early, come back late, work on weekends – I realized the reward that hard work can bring. I wanted that for myself. I want to continue this changing, and this elevation, of our legacy.”Bob gives us some great tips on the basics of small business bookkeeping, tactics he has used strike a work-life balance while growing a business and an inside look at what it takes to build a brand you can sell.Thank you for listening, please subscribe, leave us a review and share this with your friends!For show notes, blog posts and past guests, please visit: www.toolspodcast.comSign up for Colin's newsletter HEREInterested in sponsoring the podcast? Please fill out the form at toolspodcast.com/sponsorFor downloads of free tools, and links to resources mentioned by our guests please visit: toolspodcast.com/freetoolsFollow Colin:InstagramTwitterFacebookYoutube
Friday Night Live with Accountants Hector Garcia, Michael Ly and Andrew Wall.
Hector Garcia, Michael Ly & Andrew Wall are joined by our friend Bob Wang to talk about customer service & creating a "Disney experience" accounting firm! https://www.facebook.com/fnlaccountants/videos/569035650563486/
This month we are joined by Bob Wang, senior advisor at Deloitte, to find out how using a corporate lens can help further the impact of your organization. We chat about programs, services, and financials - and how assessing them differently can elevate the way we do our work.
Friday Night Live with Accountants Hector Garcia, Michael Ly and Andrew Wall.
Andrew Wall, Michael Ly, and Hector Garcia do a live recap of QuickBooks Connect on the last Friday of the conference, Special Cameos from our colleagues: Jacob Schroeder, Bob Wang, Wes Hackett, Liz Scott, and Misty Megia (Leader of QuickBooks ProAdvisor Program)! (Pre-recorded live on Friday 11/08 in San Jose) https://www.facebook.com/fnlaccountants/videos/425358394802721/
On September 23, over 120 people gathered at the classy D6 Bar & Lounge in downtown Vancouver to kick off Cold Tea Collective’s first-ever panel and networking event, as part of The Entrepreneur Series. The audience welcomed four local business extraordinaires – Bob Wang, Matt Murtagh-Wu, Vivian McCormick and Sonia Chhinji – to the stage. Listen on for the full audio with lightning talks from each panelist, followed by a panel discussion that dives into their entrepreneurial journeys, values, culture, identity and lessons learned. Visit www.coldteacollective.com for excerpts of our interview. Executive Producer/Moderator: Natasha Jung Associate Producers: Tiffani Lee & Cecilia Huang Associate Producer and Editor: Andy Le
Our first episode in The Entrepreneur Series features Bob Wang, founder and president of Legacy Advantage CPA. Bob is a big four accountant turned entrepreneur when he noticed a gap in the quality of bookkeeping within the small business community. He sat down with us to share his journey, successes and failures while building his own business. Visit www.coldteacollective.com for excerpts of our interview. Executive Producer: Natasha Jung Interviewers: Natasha Jung & Cecilia Huang Associate Producers: Tiffani Lee & Cecilia Huang Associate Producer and Editor: Andy Le Music: "Flex" - By Francis Arevalo
Friday Night Live with Accountants Hector Garcia, Michael Ly and Andrew Wall.
Overview of Scaling New Heights with Matthew Fulton and Bob Wang https://www.facebook.com/fnlaccountants/videos/vl.2393378420921139/646153262520369/?type=1
Friday Night Live with Accountants Hector Garcia, Michael Ly and Andrew Wall.
What if Uber got into accounting? Hector and Michael discuss this interesting idea with our guests Ryan Balfe and Bob Wang. What would the experience by like? What would be expected? https://www.facebook.com/fnlaccountants/videos/vl.2393378420921139/2290751407814116/?type=1
Friday Night Live with Accountants Hector Garcia, Michael Ly and Andrew Wall.
Talking about partnerships that firms can create to grow their business with Bob Wang https://www.facebook.com/chunsiv/videos/10157074720011764/?lst=1472338004%3A1472338004%3A1566703163
Friday Night Live with Accountants Hector Garcia, Michael Ly and Andrew Wall.
Hector, Michael and Andrew discuss what big companies can do that small companies cannot do for their customers. We discuss what services the large accounting firms and now possibly Intuit can provide that smaller firms can or cannot provide. Special guest host Bob Wang joins us. https://www.facebook.com/chunsiv/videos/10156994897171764/UzpfSTE0NzIzMzgwMDQ6MTAyMTkwNjcxMTg1MzY4NTA/?lst=1472338004%3A1472338004%3A1566701882
Friday Night Live with Accountants Hector Garcia, Michael Ly and Andrew Wall.
Hector, Michael and Andrew discuss when it's time to leave your comfortable job and start your own business. Do entrepreneurs have a common trait or is it really skills? With guest host Bob Wang. https://www.facebook.com/chunsiv/videos/10156978085396764/UzpfSTE0NzIzMzgwMDQ6MTAyMTkwMDg5NjE5MjI5NzE/?lst=1472338004%3A1472338004%3A1566701557
Join in for a conversation with Bob Wang, the Founder of Legacy Advantage and the BC Region Leader of Deloitte Ctrl. Legacy Advantage was a bookkeeping company for small businesses in BC and it was acquired by Deloitte to become part the engine of Ctrl's BC business. But Bob is no ordinary bookkeeper. In our conversation we delve through Bob's background of growing up in the Czech Republic, his entrepreneurial father fleeing the Czech mafia to Vancouver and how this upbringing fostered a passion for helping small businesses in his accounting career at KPMG to his own company, Legacy Advantage. Bob grew his company to about $2MM in revenue within the first 3 years through a method of partnering with the 'would-be' competition and creating an organization build around 'common sense'.
Bob Wang is the founder and CEO of Legacy Advantage. He holds a CPA, CA and had cut his teeth at one of the Big 4 accounting firms. Bob is passionate about entrepreneurship. Currently, he is on a mission to revolutionize the bookkeeping industry. He is married to Anne, and has a super energetic daughter, Elizabeth, who is 16 months old.
Hiring mistakes. Unfortunately, many bookkeeping business owners make them. Those poor decisions likely cause emotional and financial stress in addition to the large amount of time used to mop up the bookkeeping messes of those you thought could do the job. One man who has cracked the code on how to hire great and loyal staff is our guest today, Bob Wang. He is the owner of Legacy Advantage which has 2 offices and around 15 employees and will make $1 million in sales this year. During this interview, you'll learn... The importance of building a powerful company vision that will inspire others to want to be on your team Why having the right culture fit is a huge requirement when hiring someone new How to craft an effective and unique job advertisement that will attract your ideal future employees To find out more about Bob, visit https://www.thesuccessfulbookkeeper.com.