Description:
In this episode, Al Wagner joins me to talk business and networking. Al has built a sizeable payroll business called TruPayroll – they are located in 24 states. He's certainly an authority on building businesses and, the topic we'll talk a lot about, networking. A bulk of his business stems from his networking efforts.
Like we do with all our first-time guests, we start with his journey and what influenced him to become an entrepreneur. He also shared how he built his practice and how his payroll business grew out of that – hint, networking helped! On the topic of business networking his talks about the best way to approach it to maximize your results. Building relationships first is a big part of that. Tons of nuggets in this one and some great takeaways. Enjoy!
Albert Wagner
Albert J. Wagner — Entrepreneur · Business Builder · Payroll Industry Innovator
Albert J. Wagner is a seasoned entrepreneur, strategist, and operational leader with nearly three decades of experience building high-impact businesses in financial services and payroll technology. A licensed Certified Public Accountant from 1994 through 2020, Al began his career in public accounting before founding his own CPA practice in 1999, where he specialized in tax, audit, and advisory services.
Driven by a commitment to empowering accounting professionals, Al built TruPayroll into a successful multi-state payroll services firm, gaining firsthand insight into both the operational challenges and the revenue limitations imposed by traditional payroll provider models. Recognizing that firms were consistently sacrificing brand control, pricing authority, and client ownership, he evolved that experience into the creation of WholesalePayroll — a fully white-labeled platform designed to help CPAs, bookkeepers, and payroll professionals bring payroll in-house, scale efficiently, and transform it into a high-margin, firm-owned revenue stream.
Al is also a sought-after mentor, speaker, and connector in the entrepreneurial community, sharing insights on networking, business development, and strategic growth through podcasts, forums, and industry events.
THE MEAT OF IT!
- Intro
- Shiny objects to.. His first practice
- Found his way to Florida
- Failures .. learning the lessons and on to the next
- Who or what inspired him to become an Entrepreneur? Or to not give up.
- Working for a company vs for yourself
- Rebuilt a practice .. took time. Wasn’t skilled at networking yet.
- Someone walks into his life and talks him into doing payroll too.
- TruPayroll was born – became a big success – 24 States and lots and lots of causes..
- Defining moments
- Creating situations/businesses that run without you.. even when we’re sleeping.
- Building a business where if you disappear it can carry on .. ensuring continuity
- NETWORKING
- Fear – False Expectations Appearing Real
- Just handing out cards doesn’t work.. leading with what you do.
- Building relationships in the context of business .. is networking. Not what can o get out of a ‘thing’.. what can I give ‘in’
- Give value first
- Gave up at one point on Networking ..
- until a networking event he attended .. that changed everything .. completely new experience
- Your job is to be “A Connector”
- people become tools in your toolbox ..
- “Do you know someone..?”
- Creating disciples
- Planting seeds – timeframes
- Building a business via your network
- Build during the bull .. so you can survive the next bear.
- Putting the fear aside .. getting rid of the false expectations
- How I see it happen in my business
- “Contacts in our phones” .. you’re not just losing me
- Focusing on level 2 and 3
- Our experiences.. no business, but a friend for life
- 90% of his business is based on referrals
- He’s in a hugely competitive space.. how are you going to differentiate and get known?
- Building relationships.. worked.
- Video conferences have become more popular and have opened up more opportunities.
- Positioning yourself as a ‘Connector’
- Final takeaways
Check out these related Episodes:
- Episode 34: Mohammad Nafisi – His Journey, Business, Startups, Community & More!
- Episode 33: Wilson Mattos – Biz Lessons, Climbing the Corporate Ladder to Becoming an Entrepreneur
- Episode 32: Vova Feldman – His Personal Story, How He Built Freemius & a Discussion About Business!
