LBMC’s 40-Year Journey: Transforming Business and Community
Celebrating 40 Years of Excellence at LBMC
In the summer of 1984, a dedicated group of 12 visionaries in business consulting came together to create something unique. Their goal was to establish a firm where clients were treated as partners and innovation was motivated by real customer needs. This community-focused culture was the birthplace of LBMC, which has now flourished for 40 years. Today, LBMC is recognized as a leading accounting and business consulting firm, a testament to its commitment to clients, talent, and community.
The Vision of Founders
“From the start, we focused not on being the largest firm but on being the best,” explained David Morgan, Co-founder of LBMC. “Our growth and the success of our clients highlight our dedication to integrity and excellence.” This vision underpins LBMC's impressive portfolio of over 11,000 clients across various sectors, including audit and accounting, tax, human resources, technology, and wealth advisory services. Such growth reflects a commitment to adapt and evolve continuously to meet client needs.
A Culture of Collaboration and Growth
LBMC's founding principles emphasize building strong relationships and trust. As Jim Meade, CEO and Managing Shareholder, stated, “Our biggest source of referrals comes from our clients. This focus ensures we are aligned with their essential needs.” The firm’s evolution over four decades illustrates how responsiveness to client requests has led to remarkable business growth.
The LBMC Family of Companies
Starting as a single accounting entity, LBMC has diversified into a family of seven specialized companies, each offering a distinct set of services. This transformation, as noted by Co-founder Mike Cain, illustrates the importance of understanding client needs and responding with high-quality, targeted solutions. This expansion has significantly positioned LBMC in the marketplace, enhancing its customer service capabilities.
Investing in People and Culture
At its core, LBMC prioritizes the development of its employees. From the inception of the firm, there has been an emphasis on creating a nurturing environment where team members can excel. LBMC’s culture fosters continuous learning and innovation, which Gartner recognizes as crucial in today’s workforce. Being a four-time national Certified Great Place to Work, LBMC continuously invests in the career and personal growth of its employees through mentorship and professional development opportunities.
Employee Experiences and Insights
“My journey at LBMC has been life-changing,” remarked Courtney Bach, a Shareholder and Audit Leader at the firm. The extensive support and resources for talent development have positioned employees as experts within their fields while maintaining a work-life balance. This dual focus on career advancement and personal life creates a unique work experience at LBMC.
A Commitment to Community Impact
LBMC's values extend beyond business, reflecting a strong commitment to community engagement. Through initiatives led by the LBMC Cares Foundation, employees dedicate their time and resources to addressing vital community needs, from youth services to health projects. Brian Tate, a Shareholder and Board Chair of the foundation, stated, “Giving back is integral to our identity. Our foundation captures our collective effort to support those in need.”
Looking Towards Future Growth
As LBMC celebrates 40 years, its focus is squarely on the future. Jim Meade highlighted plans for strategic acquisitions that align with evolving market demands. The firm's commitment to adopting innovative technology and digital solutions is crucial for enhancing efficiencies and client experiences. This commitment includes hiring top talent like a Digital Health AI Strategist to ensure they continue leading industry trends.
Frequently Asked Questions
What inspired the founding of LBMC?
LBMC was founded by a group of 12 visionaries who aimed to create a business consulting firm that values clients as partners and focuses on innovation.
How has LBMC evolved over 40 years?
Initially a traditional accounting firm, LBMC has expanded into seven specialized companies to better serve client needs and stay competitive.
What is LBMC's culture centered around?
The culture at LBMC emphasizes collaboration, continuous learning, and the personal development of employees, fostering a supportive work environment.
How does LBMC contribute to the community?
Through the LBMC Cares Foundation, employees engage in various initiatives to support community programs, demonstrating commitment to social responsibility.
What are LBMC’s goals for the future?
LBMC aims to focus on strategic acquisitions and technological advancements, ensuring they remain a leader in the consulting space.
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