The Challenge: Stuck Between Old Habits and New Growth
Inspire Advisors needed to modernize, but change is hard to sell internally, especially to a firm comfortable with how things are already working. Erin knew she needed proof.
“I needed to be able to point to other similar firms that had implemented new technology or processes and were successful,” she explains. “Knowing there are other firms doing the same things we're working to improve or implement helps my team move forward rather than slipping back to doing things the old way.”
The Shift: From Compliance to Confidence
Erin describes the biggest impact of her Mastermind Group in one word: confidence. Watching peer firms in her group successfully charge more and shift toward monthly billing gave her the proof she needed to do the same at Inspire Advisors.
“Mastermind empowers me to charge more,” Erin says. New clients, she notes, are increasingly choosing Inspire Advisors specifically because they want value-added services — not just compliance — and many are happily paying 3 to 5 times what they paid their previous accountant.
The numbers tell the story:
- Revenue growth: From $650K in 2020 to a consistent $900K+ every year since — on pace to hit $1.1M this year
- MRR growth: From roughly $15K in monthly recurring revenue in 2020 to over $50K in 2026
- Recent momentum: 13 new clients and $10K+ in added MRR in a two-month span
- Pricing power: A firm-wide 1040 minimum of $800, up from returns priced under $400 in 2020
What Made the Difference
Erin points to three things in particular: candor, perspective, and community.
Candor. “I appreciate my group because they are willing to say tough things that I don't always want to hear,” Erin says. “I need the extra push and accountability that I get from my group to push our firm forward with difficult changes or decisions.”
Perspective. Some of the most valuable moments in Erin's group aren't tactical at all — they're reframes. “Being efficient is not the answer,” she says. “I focus everyday on being more effective with my time.”
Community. Rather than spending hours researching a new tool or procedure alone, Erin's group compares notes directly — sometimes even connecting their teams over Zoom to share what's working. “Why spend endless time figuring things out on your own? I often ask my group members how they're doing different things. I'd rather use what they've already researched.”
Shared metrics play a role here too. Because the firms in her group are similar in size, Erin can see exactly who's ahead on the numbers she wants to move. “I know my software percentage needs to decrease. When we go over metrics, I can see the others in my group that have decreased their software percentage... I know who and what to pay attention to and possibly implement just from listening to our monthly conversations.”
A Direct Line to Revenue
Erin is candid that some of Inspire Advisors' biggest wins trace straight back to conversations in her Mastermind Group.
The firm's move into ERC work — the Employee Retention Credit, a pandemic-era tax program — happened only because Erin saw other firms in her group doing it first, a decision that led to a significant revenue bump. Just recently, she signed a new outsourcing contract. “I would never have the confidence to do that without the conversations, roadmap, successful stories, and encouragement from my Mastermind Group members,” Erin says.
“I often tell my team when we do something that either made us money or saved us money — my mastermind fee paid for itself again this month.”
The Takeaway
Inspire Advisors' story shows what happens when a firm leader stops solving problems in isolation and starts solving them alongside peers who've already been through it. Six years, a near-doubling of revenue, and a fundamentally different pricing philosophy later, Erin's answer to whether it was worth it is simple:
“I feel like the ROI is fairly easy to identify, and the community we've created is amazing. The connections and friendships I've made over the past six years in my Mastermind Group have far exceeded my hopes and expectations.”
If you're ready for that same accountability, community, and confidence, explore Collective by DBA Mastermind Groups and find the right group for your firm.
