The Wize Way

Episode 154: Wize Factor Chat: Daniel Vasin - Vasin Holdings Pty Ltd

• Wize Mentoring for Accountants and Bookkeepers • Season 2 • Episode 154

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In this week’s episode of The WizeFactor Chat, we sit down with Daniel Vasin, Director of Vasin Holdings Pty Ltd—an accounting firm based in Australia.

Daniel shares his journey from joining the family business in 2007 to taking full ownership in 2015—and the tough years that followed. Growth had stalled. Key clients were leaving. And the fire that once drove him? Gone.

That all changed when he discovered Wize Mentoring. Daniel unpacks how the Wize blueprint gave him the clarity, structure, and confidence to stop doing all the work — and start building a business that can run without him.

If you’re feeling stuck in your firm, this is the story you need to hear.

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4. Book a 1:1 Wize Discovery Session – Spend 30mins with our Wize CEO, Jamie Johns, a $7M firm owner who is ready to give you his entire business plan to build a firm that can run without you – Find out more here

Wize Mentoring:

From Wize Mentoring is The Wize Way Podcast for Accountants and Bookkeepers, a show about accounting and bookkeeping practice owners and the many stories, lessons, and tips from their experience of transitioning from a time- poor practice to a business that runs without them. I hope you enjoy and subscribe.

Wize Claudia:

I'm here today very excited to have you in our WizeF actor chat space. As you might have seen some snippets of older videos, we interview some of our best members at Wize. We're very happy to have you on behalf of the whole team, so I'm just going to go through some questions to learn more about your journey and maybe inspire others who are in your shoes or have been in your previous shoes and would like to be in your shoes now, now that you're a member. So that's where we're headed. As a first, to start off, I want to go from the beginning and ask you when the business started?

Daniel Vasin:

Well, I started my business. I started working as an accountant in this business, which is a family business. It was in 2007, so quite a while ago, but in 2015,. Due to growth, I needed to become the sort of like the owner of it, because I was bringing on all the clients. So in 2015 is probably where I feel like, you know, I took ownership of a business that I used to work in.

Wize Claudia:

Oh, awesome. So you got into the role of the owner and got into the shoes of the owner and went running with it. So 2007, you started. Was there any particular struggle or any challenge that the business was facing between 2007 and before you started Wize? Was there anything pricing-related that you wanted to solve?

Daniel Vasin:

Well, yeah, I mean, there are a lot of things that I wanted to solve. Yeah, we were quite stunted in growth. We felt like you know, we were going sideways for a very long time. I feel like we were sort of at capacity and losing good clients, really really good clients. So our business could be a lot bigger had we kept all the you know those clients. So I felt like, probably also you know the buzz inside me, I probably lost. You know, when you first start out, you try your best, you try your hardest, and I felt like I was at a point where I probably wasn't trying my best, I wasn't working on the business as much as I should. I'd let that go. So, probably feeling a little soulless in the business at points in time and, yeah, just sort of wanted to find my groove again and focus on you know what was stunting the growth.

Wize Claudia:

Okay, makes sense of the world. So you were at this, having these growing pains that many firm owners go through, and how did you come across Wize? Like, what made you come across Wize?

Daniel Vasin:

Well, I probably cottoned on to Wize Mentoring through their emails. Okay, it probably started showing up on my news feeds in my you know, for example, Facebook, so they had quite a big presence. I was reading a lot of the emails.

Daniel Vasin:

I'd had some other coaches in the past one man show coaches and I felt like they were life coach, business coach people very tailor-made to our business, but I felt like they really didn't have the accounting firm experience themselves, whereas I noticed that Wize did through Jamie and Ed, tim and Christy and all these other people that had built accounting firms. And I really think that the coach for me needs to have some sort of credibility that what I'm trying to achieve has been done themselves before, and really they had the blueprint. Trying to achieve has been done themselves before, and really they had the blueprint. So the other coaches that I'd used in the past weren't so. They were more general coaches and, you know, just because they say they've built and sold a business before, no one's ever really proved to me that they had done so. I really needed to see, you know, the coaches that I use had been in the accounting industry and, you know, grown their own businesses, because that's the path that I'm on.

Wize Claudia:

Yeah, yeah, okay, that's great. From all of these things that you were facing, there were several challenges, like most of the challenges that usually Wize touches on, but what was the aha moment that you felt like, okay, this is something that will probably help me in the long run? Like, what was that? The problem that it was solving for you? That you said, okay, this is my thing.

Daniel Vasin:

I just felt like I wasn't achieving what I wanted to achieve. You know, I've been going since 2007. We've had a lot of client work. We've had a lot of clients grow. You know, some of my clients have been wildly successful, and you know it's about retaining them and having the capacity to hold them. I just feel like I wasn't doing that, and it was time for me. In my own personal world, I'd built a house. I've done certain things that I really, you know, I've achieved all I wanted to achieve. Call it my five-year plan. So I was a really, really happy person internally, but something was missing, and it was the business. Call it my five-year plan. So I was a really, really happy person internally, but something was missing, and it was the business. It was, it was my business that I wanted to um, you know, grow and create, create an asset, create, create an asset, something of value, rather than me just doing the work. So that's the way that I'm on. I thought that Wize had the best chance of achieving that with Wize.

Wize Claudia:

Wow. The best chance.

Daniel Vasin:

Yeah.

Wize Claudia:

That's very powerful and I was actually. You mentioned something that's key with all this, whatever that we share leadership and everything, I feel like there's a component that you had in you that differentiates you, and that's what the Wize Factor Chat is about, differentiates you from other firm owners who are not entrepreneurial firm owners. That's the thing with being an entrepreneurial firm owner. You didn't want to just grind until the last of your days, until you sold your firm. You knew you wanted to build something that you could enjoy, that you would know how to run, that it didn't take your life away from you because you were a happy person. So that wasn't, you know, lacking.

Wize Claudia:

But the fact that you were an entrepreneurial firm owner made you go through all of this journey, which is also an internal journey, and it's something that many people don't know when they're trying to scale and everything. There's a huge leadership component when it comes to growth. So I wanted to ask you, relevant to that, do you feel like, since you started Wize and from now, do you feel like there was a mindset shift when it came to some visions of culture inside your firm leadership, about how you run things? Do you feel like there was something that changed from the Daniel that didn't? You didn't know all of these Wize principles.

Daniel Vasin:

Yeah. So from the point where I started with Wize. Yeah, I came in quite green. So you know, um, I've got a very clear path now. I've got a very clear plan, it's very clear in my mind, revenue targets, the cost of goods, you know, the cost of staff, the numbers are very clear in my business, what I need to achieve year on year. I'm not signing up to Wize for five minutes like I'm in this for the long term because I believe that the return on investment will be there. So, you know, knee deep in what they call SOPs, which is, you know, the policies and the procedures in our business, we've, you know, put in certain software that will improve how we run. In terms of leadership, I've been hiring and working with Wize Talent, which is, you know, the connecting business. In achieving that, I've got a personal mentor in Kristy in the Wize group. So I've got my Fab5, which is Wize. You know, the key performance indicators for an accounting firm that no one could ever tell me what they were before I met Wize and the team. So there's plenty that you know.

Daniel Vasin:

Between starting Wize and coming to the point where I am, I feel I'm on the journey. I mean, I'm really keen to grow more personally and professionally, but you know, now I'm meeting my team more often. I've got an admin assistant in the Philippines, and we meet, you know, once a month, and we have a hot Milo, you know, and we talk to each other, and I learn more about her and what she wants to achieve personally. We're currently hiring an admin, no, what is it? An assistant client manager? Yeah, so that's going to help with the capacity issue, which will help with the revenue growth. So it's all very clear to me. It's a lot clearer than it ever was. That's what I'm trying to say.

Wize Claudia:

Wow, I perfectly get that, and I love that you're following the blueprint exactly as it is, because you're telling me all of this. You've got your admin assistant, you're getting your assistant client manager. You are basically delegating until you get a business that runs without you. And that's the exciting part of the whole thing. I actually wanted to ask you. You know that we always talk about precisely this phrase, build a business that runs without you, and we stress it out so much, engrave it in people's brains, because it's the lifestyle that we want to project, and if it resonates with you, then that's awesome. You can also not do it, but how do you feel about it? Like, does it excite you? Do you want that to get already into your life? Do you want your business to run without you now? Are you comfortable with what you have? How do you feel about it?

Daniel Vasin:

Well, I think that if this is all it ever was, I don't know if I'd be entirely happy internally.

Daniel Vasin:

So there's a lot of growth that I have to do. If you're not going to change and you're not going to grow, then you're not going to achieve what you want. But I feel like you know there's a lot of work for me to do. You know a lot of the fundamental work that you do in a business, and to work on leadership and delegation and team growth, and you know, micro-training these people so that they can, you know, achieve the important numbers in our business.

Daniel Vasin:

I feel like the point where it works without me, it will be a happy day, I'll be a happy person when it happens, but I think we've got a lot of work to get there. Yeah, the contribution that I have to make is still very significant, but there's a mindset shift that has occurred as a step one, and then we'll continue to work on that and eventually, eventually, I think we'll create an asset here. I think we'll create either a saleable asset or one that gives a return on investment year on year, in respect to, like you know, a dividend that I'll receive because it does work without me. But I think there's a lot of work to do to get there, and that's what I've signed up for.

Wize Claudia:

Yeah, and I love that. You're very excited about the work that you have to do in order to get to build it, build a business that runs without you. I feel like, and there's no correct. I asked you this, and there's no correct answer. I asked you this question, and there's no correct answer to that. The right answer is whatever you feel like, but I love that. You completely get that.

Wize Claudia:

You have to go through a journey, and you're saying it. It's a personal journey, it's a professional journey, and it has several steps. You probably withdrew already from the first divisions, and now you are slowly but surely getting to the next ones that come, and you're enjoying the process. So I feel like that's already winning. Basically, I have one last question for you, Daniel. I have one last question for you, daniel, and I feel like this is all related to, um, you being present in the business but being able to free up some time, and it's do you have any activities you're able to do now that you're, that you have more time, that you probably, parked it for a while because you were too busy. Any hobbies?

Wize Claudia:

In my personal yeah, yeah, any hobbies, any activities you enjoy doing in your spare time.

Daniel Vasin:

Well, I feel like you know, one of the things that Wize talks about is, you know, should I be doing this? Should I be doing anything? Should I be doing anything? So I'm completely into leverage. I'm completely sold on delegation. I really want to do as little as possible. I also want to feel like I'm not contributing right. So, for me, I feel like I'm in the right place in my life mentally. I've got a nice family, I've got the business, and I live in a great spot. But, yeah, I just want to let go more. That's my goal, and I can only do that through leverage and people and, you know, bring them up to a point where it can. It can do that.

Daniel Vasin:

But I mean, in my personal world, yeah, I, just because of the way the business is structured where, like, we're remote workers, so we work, we all work from home, I've got plenty of family time. I've got plenty of you know, free time. I've got plenty of we go to the gym. You know me and my best friend. So, no, we live a good life. I do lots of networking. I'm enjoying doing my you know, Friday tips that I send to my clients. There's a lot of stuff, like, I'm working on different things, different things that I send to my clients. There's a lot of stuff. Like, I'm working on different things, different things that I enjoy in the business, and just yeah, so no, I'm pretty happy with where it's at.

Daniel Vasin:

Yeah, so you're enjoying your free time, life, work, balance, and it's basically, it's so enjoyable to have a business that doesn't feel like, oh, it's Monday and I have to go to work and it's just like let's go yeah, yeah, and I feel like, the more people you hire not in a bad way, like the more people you have on your team, you know, with the capacity needs that you have, you should be able to pass the jobs down the line, to free you up more to do what you enjoy. And I'm trying to get to that point, I'm working on that point.

Wize Claudia:

It sounds like you're doing it very gracefully. So I love the journey that you're on. I love what you've shared with me today, and thank you for coming and sharing all of this. I will. I would like to interview you in the future, so you have even free time that we get to catch up on a second round. But that's it for today. Those are my questions. Daniel, I'm so thankful for you, um, uh, spending this time with me today because it's very helpful for us and, as I told you earlier, we have this WizeF actor Chat. So this is a select group of firm owners who really get it, and I feel like, after having this conversation with you, you really get it, and best of luck with your journey. Thank you so much.

Daniel Vasin:

Thank you.

Wize Mentoring:

Thanks for tuning in. If you liked this episode, please remember to subscribe and leave us a five-star review. For more practical, Wize tips on how to build a business that runs without you, head over to wizementoring. com/ podcast to download a free copy of the accountant's 20-hour workweek playbook. We've included a link in the show notes below. See you in the next episode.