How Nimbl gives clients and employees the freedom to succeed
Dave started his career in accounting and finance but soon realized that managing and scaling a business required an entirely different skill set. On After the First Million, we discussed how he navigated his transition from being a CFO to running multiple companies, including Nimbl, and the key lessons he learned along the way.
From Accountant to CEO: The Shift to Business Ownership
Dave’s path into entrepreneurship wasn’t traditional. He began with a master’s in accounting and a CPA, but he never fully identified as an accountant.
"I identify more as a finance person than I do as an accounting person. I love the CFO work, the financial modeling, the cash flow projections."
His journey to entrepreneurship started when he moved from the Big Four accounting firm to CFO positions in startups. Eventually, he realized the skills required to grow a business—beyond just managing the numbers—were crucial. And he learned that while accounting is a technical skill, scaling a company is about systems, people, and vision.
How to Scale Beyond the First Million
Like many entrepreneurs, Dave struggled with the transition from being a technical expert to becoming a CEO.
"It’s a quick timeline to run down those many years, but it was really 10 years of figuring it out."
The key to scaling, for him, was to build systems and hire the right people. He started with a small team of part-time offshore workers and gradually grew Nimbl by integrating teams across the U.S. and the Philippines.
“I had no interest in a partnership model. I intentionally built Nimbl as a company with a corporate structure.”
His vision for Nimbl was clear: it wasn’t just about providing services; it was about setting a new standard for how companies operate in the accounting industry.
The Importance of Team and Systems
Scaling a business requires delegating. Dave learned early on that effective delegation requires clear systems and trust in your team.
"You want people only handling what only they can handle, and everything else you delegate down."
As Nimbl expanded, documentation became a key part of their growth.
“It was all about efficiency. Because I had that in place for myself, I just had to make sure it was clear and understandable to someone else.”
Dave’s commitment to clear documentation allowed Nimbl’s team, both offshore and in the U.S., to step in quickly when needed, ensuring business continuity and a smoother workflow.
Delegation: A Path to Freedom and Growth
One of Dave’s core beliefs is that scaling a business requires building freedom for both the business and its employees.
"Our purpose is really to provide freedom, freedom for our clients and also freedom for our team."
For Dave, freedom means offering flexibility—whether that’s in work hours or career growth opportunities.
He treated offshoring as a people-first investment, focusing on developing strong relationships and treating everyone, no matter their location, as integral to the success of the business.
Sales Isn’t About Personality—It’s About Confidence
When it comes to sales, Dave took an approach that aligns with his broader business philosophy: it’s not about personality, it’s about confidence in what you do.
"Sales is really just being confident about what you do, passionate about what you do, and being able to explain it clearly."
This mindset allowed him to sell the first million and a half in revenue for Nimbl, all while maintaining a consultative approach to building relationships with clients.
The Future of Business: Embracing Technology
As technology continues to change the landscape of business, Dave is embracing the opportunities it presents. From AI to offshoring, he believes the future of business will rely heavily on leveraging technology for efficiency and growth.
"The more disciplined I get about not doing almost anything without at least thinking about, ‘can I run this through AI in some way?’ The efficiencies and insights are mind-blowing."
Lessons for Entrepreneurs
Dave’s journey offers valuable lessons for anyone looking to scale their business:
- Scale doesn’t happen by accident. While it doesn’t always follow a master plan, it requires openness to opportunities and the ability to take action when the time is right.
- Building a company is different from running a firm. Creating a corporate structure gives you the ability to scale, delegate, and develop systems that empower your team to succeed.
- Sales is not about personality, it’s about confidence. Understanding what you do and communicating that clearly builds trust with clients.
- Technology is a game-changer. Whether it’s AI, offshoring, or other tech, embracing innovation will help businesses stay competitive and efficient.
The Bottom Line
Scaling beyond the first million isn’t just about hitting revenue targets; it’s about creating a sustainable business. Dave’s story shows how the right mindset, systems, and team can turn a small business into a thriving company.
Want to hear the full conversation? Listen to my interview with Dave Olsen on After the First Million.
