In today’s fast-paced business world, clarity in roles is more critical than ever—especially when it comes to your financial team. Many business owners unknowingly blur the lines between bookkeepers, accountants, and CFOs, expecting strategic insight from professionals who were only hired to record data. The result? Stalled growth, missed opportunities, and decisions based on flawed assumptions.
In this episode of Building the Premier Accounting Firm, host Roger Knecht sits down with Nolan Bradbury, founder of Bradfield Accounting, to expose the costly gap between what entrepreneurs think they’re getting—and what they’re actually paying for.
Meet Nolan Bradbury: From Big 4 to Business Builder
Nolan Bradbury’s journey is anything but ordinary. From an aspiring psychology major to a seasoned financial expert with experience at a Big Four accounting firm, Nolan brings a unique blend of business acumen and emotional intelligence to the world of small business finance.
After working in both public and private sectors—including taking a company public—Nolan realized he wanted to work more directly with business owners. He now leads Bradfield Accounting, where he helps clients navigate growth by offering digestible, actionable financial insight—not just reports.
“I just want to help the people that are hiring me,” Nolan shared. “When you work in big public accounting… you just don’t get that exposure.”
Bookkeepers, Accountants & CFOs: What’s the Difference?
One of the most eye-opening parts of this episode is Nolan’s breakdown of how misunderstood financial roles truly are.
“They think the accountant is a CFO. They think a bookkeeper is an accountant,” Nolan explains. “As a profession, we’re too flippant about the use of those terms… The management of expectations is totally off.”
Here’s a simplified breakdown:
- Bookkeepers input and organize financial transactions.
- Accountants ensure compliance, prepare reports, and file taxes.
- CFOs analyze trends, forecast outcomes, and drive strategy.
Confusing these roles leads to missed strategic opportunities and frustration when expectations aren’t met.
The Real Danger: Compliance Without Strategy
Most business owners assume that receiving accurate financial statements means their accountant is “on top of things.” But this belief masks a more serious problem: many financial professionals are only providing compliance services, not guidance.
Nolan captures this perfectly:
“You’re not reviewing these [financials]… You’re not taking any time to analyze the reports nor give feedback… The business owner is just assuming… you will eventually provide that insight.”
This mismatch results in stagnant growth and poor decision-making—because numbers without interpretation are nearly useless.
The Advisory Gap: What You Really Need from Your Financial Team
When a business owner hires someone to “handle the numbers,” what they’re really asking for—though they may not know how to articulate it—is strategy.
“When people come to you to hire you for bookkeeping or tax, they’re not actually hiring you for bookkeeping or tax,” Nolan says. “What they’re actually looking for is the strategy that comes from those things.”
The problem is compounded when financial professionals don’t clarify their service boundaries, and business owners don’t know the right questions to ask. This creates a relationship where neither side is truly aligned.
The Rule of 3 & 10: Why Your Growth Has Stalled
Nolan introduces a powerful concept that many entrepreneurs overlook: the Rule of 3 and 10.
“As you scale from 1 to 3, 3 to 10, 10 to 30… the thing that got you to that last level is the thing that’s going to hold you back from reaching the next level,” he explains.
In financial terms, that means:
- Manual spreadsheets might work at $300K, but fail at $1M.
- Quarterly reviews might suffice early on, but not at scale.
- A basic bookkeeper isn’t enough when strategic decisions are on the line.
To break through growth plateaus, your financial systems and support must evolve alongside your revenue.
From Transactional to Transformational: Redefining the Financial Relationship
A key theme in this conversation is the emotional and relational side of financial advisory. Nolan’s background in psychology heavily influences his approach to client relationships.
“There are two types of relationships… transactional and the one that extends beyond that,” he says. “You have to understand them. They have to understand you. For a relationship to be an actual relationship, you have to have more than one person show up and want it to be a relationship.”
That shift—from once-a-year tax talk to ongoing strategic conversations—can change everything for a business.
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