How grow your firm through specialization with Joel Hughes

After the First Million

Building a business involves making wise choices, focusing on what matters most, and driving long-term value.

Joel Hughes, CEO of Rightworks, has guided his company from a niche QuickBooks hosting service to a comprehensive platform for accounting professionals. With a background in engineering and years of startup experience, Joel shifted to the accounting space, bringing a fresh perspective on technology adoption and customer-centric solutions.

In this episode, Joel shares the story of Rightworks’ evolution and the importance of staying focused on a single vertical. He explains how building a strong team and creating a shared vision are crucial for success. Joel also touches on the impact of industry-specific expertise and how growing a community within your space can help drive real, sustainable change.

In this episode, you’ll learn:

• The critical role of building a company around a focused, specialized vision.
• How slow, thoughtful change can create sustainable growth without overwhelming your team.
• Why creating community within your industry can drive innovation and adoption.

Jump into the conversation:
(00:00) Meet Joel Hughes
(01:55) Moving from doing the work to managing teams
(07:08) From product creation to company building
(10:25) Sharing passion to inspire your team
(12:53) Focusing on the accounting and tax vertical
(15:04) Overcoming slow decision-making in firms
(18:31) The power of referrals in firm growth
(21:00) Expanding from QuickBooks hosting to a full platform
(24:15) Introducing Spark AI and its industry impact
(27:00) Building community for innovation in the profession
(30:14) Scaling impact through peer interaction
(33:40) Managing change and aligning teams
(36:44) Creating a shared long-term vision
(39:05) The importance of culture in team success
(41:23) Building teams aligned with future growth