TWR Podcast Episode 117: Grow or Stay Small? Finding Your Firm’s Sweet Spot

In this episode of The Woodard Report Podcast, host Heather Satterley explores one of the biggest questions firm owners face: Should I stay small and flexible or scale my practice? She’s joined by Dave Olsen, founder and CEO of Nimbl, and Shane Rowley, Nimbl’s co-founder and president, who share their experience scaling Nimbl from a solo CFO practice into a firm with over 100 global team members and $6 million in revenue.

Whether you're building a lifestyle firm or dreaming of something bigger, this episode is full of honest insights, practical tips, and lessons from the “messy middle” of growth.

Choosing to grow—or not—starts with intentionality

Dave shares how his journey began as a solo practitioner offering fractional CFO services, eventually reaching a crossroads in 2017. At the time, he was enjoying a balanced life with time for family, health, and hobbies—but he also sensed an opportunity to serve more small businesses by building something bigger.

“I felt like I built something that could be great… but I also had an incredible life and a great lifestyle,” he recalls. The turning point came during a lunch meeting when a mentor simply asked, “Why can’t you have both?”

That question sparked Dave’s decision to grow—intentionally and sustainably—without giving up the lifestyle he valued.

From solo to $6M: What it takes to scale successfully

Shane joined Nimbl in 2019, bringing startup experience and a desire to build something meaningful. Together, he and Dave designed a firm that balanced people, purpose, and profitability.

“There was a vision of building something bigger than ourselves… something that actually had impact in the world,” Shane explains.

The duo credits their growth to a strong cultural foundation, clarity of purpose, and alignment around shared goals. But they also acknowledge the challenges—especially during the early stages of scaling.

Navigating the “messy middle”

Dave describes the initial growth phase as a steep leadership learning curve. He learned the hard way that observing business leadership as a CFO is not the same as being the leader.

“Going from a technician to learning to be a business leader was a big learning curve… especially when it came to hiring, accountability, and letting people go,” Dave says.

He refers to this period—typically between $1 million and $3 million in revenue—as the “messy middle.” It’s a stage where firms are big enough to need structure but not big enough to afford a full leadership team. Cash flow, hiring missteps, and growing pains can pile up quickly.

The case for hiring a growth leader

The conversation shifts to Dave’s recent article, The Rise of Chief Growth Officers in Accounting Firms, where he argues that growth shouldn’t fall solely on firm partners.

While a formal CGO title may be out of reach for smaller firms, Dave and Shane advocate hiring someone responsible for growth—especially once the firm has proven it can consistently generate leads and close deals.

“We had three quarters in a row of consistent growth,” Shane says. “That’s when we knew it was time to hire a director of growth to take it further.”

Their advice? Don’t wait too long. Growth professionals can help unlock firm capacity and free up leadership to focus on strategic opportunities.

Scaling without losing culture

One major concern during rapid growth is preserving company culture. For Nimbl, being fully remote from the start required extra intentionality.

“We’ve had mission, purpose, vision, and core virtues from the beginning,” Dave says. “They guide our hiring, performance, and leadership decisions.”

Shane adds that misalignment with those values is the root cause of most personnel issues—and staying rooted in culture has helped them avoid internal friction as the firm scaled.

Final advice for firm owners

Both guests close with encouragement for listeners—whether they plan to scale or not.

“Be intentional,” Dave says. “There’s no one right answer. What matters is aligning your business decisions with what you truly want for your life and your team.”

Shane adds, “If you want to grow, you can’t even imagine the possibilities. The personal fulfillment of leading others and building something meaningful is huge.”

Listen to the full episode

Explore more in The Woodard Report Podcast Episode 117: Grow or Stay Small? Finding Your Firm’s Sweet Spot at woodard.com/podcast.

Follow The Woodard Report Podcast on your favorite podcast platform.

🎧 Like what you hear? Don’t miss an episode—subscribe to The Woodard Report Podcast on your favorite podcast platform and get actionable insights delivered straight to your feed every week.