Bobby Achettu is the founder of Accelerated Growth (AG), a company that provides accounting, finance, and technology services for entrepreneurial organizations to help them drive scalable growth. He and his 90-person team have provided their services to 300+ companies in multiple industries over the past 10 years. Because of his unique vantage point as an entrepreneur, advisor, investor, and board member, the MSL program recently invited Bobby to sit down with the Director of the Law School’s Donald Pritzker Entrepreneurship Law Center, Professor Esther Barron, for a conversation focused on observations and lessons learned during COVID.
As you might imagine from a person with such broad experience, the conversation between Bobby and Professor Barron was wide ranging. Esther asked a slew of questions related to the pandemic and how it affected Bobby’s own company, his own personal experience during the pandemic, and industry observations in general. You can listen to a full recording of the conversation here. Here are a few main points from the conversation:
How the pandemic affected Bobby’s company, Accelerated Growth: When COVID hit, the business development pipeline froze for a few months, but the workload for AG’s staff greatly increased. In part, this was because many of AG’s clients are in industry sectors that did not slow when the pandemic hit – sectors such as consumer packaged goods (CPG), e-commerce, and tech. AG’s employees were asked to work harder on issues involving their existing clients. And then, within a few months, business development picked back up and it is currently going strong.
Some of the big issues Bobby faced within his own company were related to morale and the company culture amidst so much uncertainty. The uncertainty created fear, and that is hard to address. Bobby aimed to address these issues by focusing on communication and transparency. He started holding town halls every week. His goal was to put his head down and work hard, and to be there as a role model and leader for his team.
In response to a question, Bobby noted that the goal of his company is to train the in-house team and help them build the structure that will allow them to eventually take the functions AG is helping with in-house. While AG does have some long-term clients, what they do for these clients changes over time, with the companies taking on more of the functions as they scale up. AG also helps the companies figure out how to hire internally. For example, AG helped one company by doing all of its finance work initially, and now the company has 30 staff in the finance department. AG’s goal is not to latch on to one service line and hold tight to it, but to allow the service line to change over time as the company grows and adjusts.
How the pandemic affected Bobby personally at work: Bobby consciously decided to use the time to improve his own health and strengthen his foundation – he focused on eating healthier, meditation, using business coaches, engaging in therapy. His thinking was that building the right foundation for his personal self is what would help get him through and that would also help keep the company healthy as well. He took care of himself, stayed grounded, and worked on being able to think clearly. His goal wasn’t just to get through, but to try to thrive under the circumstances.
Industry Observations: While some industries have thrived during the pandemic (including some with which AG is involved), some were hit very hard, including the hospitality industry and larger restaurants and hotels. Those with the balance sheet to be able to adjust took advantage of the time to re-invest and re-furbish, something they have to do every so often anyway. Looking ahead, Bobby predicts a significant focus on business fundamentals over the next 3-6 months, and a significant increase in private equity activity.
Advice: Bobby serves on a few different boards, and he recommended that students think ahead to this type of service in the future. He suggested that, for now, students work on things they are passionate about, do their best work, and get themselves recognized for that. Down the line, this work will pay off. As an example, Bobby talked about how much he has learned from his experience with EO (Entrepreneur’s Organization). (Note: Bobby is now stepping into the role as President-Elect of this organization!)
Overall: Bobby is a role model who carries his humanity in everything he does. He is a shining example of a person who brings passion to his work and has a positive impact on those lucky enough to interact with him. What a great leader! We at the MSL program treasure Bobby’s friendship and look forward to working with him into the future.
