Meet Jim Miller | Founder/CEO of Astero Group

We had the good fortune of connecting with Jim Miller and we’ve shared our conversation below.

Hi Jim, we’d love to hear more about how you thought about starting your own business?
The thought process behind starting my own business was not a natural one immediately, at least for this business. My whole life since I was a little kid had been centered around music: creating music, arranging music, drums, guitars, keyboards, singing, and vocals. Drumming since I was 8. After high school, still entirely music-focused, I went to Columbia College for film school to remain in a creative space. After that I transferred to a business school and accidentally took an accounting course. Turns out accounting came really easily to me… which surprised me. This, along with a few other variables, led me to follow that path and I got my accounting degree. At the same time, I was still very active in music. After college, I went on my own as a solo artist and also drummed on some larger DJ sets.

In my late 20’s I parted ways with the music aspirations but remained entrepreneurial. Being in a band is just like running a business—same moving parts, same need for alignment to succeed. Throughout my 20s and 30s, outside of my accounting 9-5, I had a couple of different businesses that I owned or co-owned. None of them panned out in the end, but I learned a ton.

It was during the pandemic when I said to myself, “I really want to work for myself. This doesn’t have to be sexy, this doesn’t have to be the next Facebook. What I know is accounting, and I’m really good at it. I’m really good at systems and processes. I’m really good at starting businesses and assembling them, getting the right tech and all the different things in place. Finding the right people.” Again, completely analogous to having a successful band.

I decided to start my own accounting firm; a fractional CFO firm, to be specific. We’re going to be rebellious, we’re going to have humor, we’re going to do things differently, ways that actually serve our customers better. No timesheets, no hourly bills, no long agreements, no offices and no overhead. We’re going to ignore the industry norms and help business owners be really happy and successful as our only goal.

Alright, so for those in our community who might not be familiar with your business, can you tell us more?
I definitely had an advantage as a well-seasoned accountant and leader when I started my fractional CFO firm, Astero Group. You know how money moves and what to look for. You know what the key performance indicators (KPIs) should be for a given industry. And that didn’t come easy. That came with time and experience and lots of self-education. But once you have that skill set, starting a business is much easier. Just yesterday I was talking to a college Junior. He has entrepreneurial visions and is studying sales, but is also taking accounting courses so he understands how money moves. Smart kid.

So it sounds kind of boring right? Astero Group – we’re an accounting firm, or more specifically, a fractional CFO firm. But in reality, it’s quite the opposite. We get to help business owners. We get to help them make and keep more of their hard-earned money. We get to choose who we work with. We get to choose to work with kind, motivated individuals who are interested in growing and being better. Our clients, the business owners we work with, are rockstars. (One of them literally; a drummer who tours the world at sold-out stadiums).

My favorite conversations are conversations about the future. And in the CFO world, that’s all we talk about pretty much… the future. There’s a little bit of historical work if we’re talking about financials, but a good CFO is focused on the future and gets the business owner to think about the future. When you think about the accounting nerd with glasses and a pocket protector, that is nothing at all what we are. We are co-visionaries who help connect founders to their dream. It’s very rewarding, it’s very challenging and in no way is it boring.

The biggest thing I learned along the way was not to be everything to everybody. We knew in the beginning that we just needed to pick a niche – we’re going to work with tech companies or we’re just going to work with SaaS companies and things like that. But that really wasn’t the right lens, and it took me a year and a half to figure it out. The niche for us is the services we provide.

If you think of accounting services as three pillars: 1. Bookkeeping (historical) 2. CFO work (future) 3. Tax (hitorical). In the beginning, we tried doing all three of those things. Now we focus exclusively on the middle/CFO/strategy/future piece. These days, it’s crystal clear when identifying clients we can help and that we want to work with, as well as those that we’re best to introduce to a another resource for their needs. It’s allowed us to grow more quickly and more specifically. Choose your niche, identify your ideal customer profile (ICP) and never wander until you’re overflowing with revenue.

Let’s say your best friend was visiting the area and you wanted to show them the best time ever. Where would you take them? Give us a little itinerary – say it was a week long trip, where would you eat, drink, visit, hang out, etc.
I love this question. Unlike my wife, I am not native to LA, so I only know what I know. I moved from OC to the Sawtelle neighborhood of Los Angeles in 2009. In 2016, I moved to El Segundo in the South Bay with my wife and son. I used to hang out on the Sunset Strip in my more musical days. (Shoutout Rainbow) So here are my recs, in no particular order. I’ll save my absolute favorite thing for last:

LA has really come to be an incredible food city and there is a ton to explore. You must go to a restaurant or two in the Sawtelle neighborhood – some of the best food in Los Angeles. Another key stop, even as a guy born and raised in Chicagoland, I would say the best Italian sandwich in the country, comes from Bay Cities Italian Deli in Santa Monica. The Godmother with hot giardiniera… there’s none better.

As for hanging out, I love the beach but I hate being in the sand! I therefore really love Palisades Park in Santa Monica, just north of the pier. It’s beautiful – you can see the beach but you don’t get the “sand in your shoes” experience because you’re on the grass on a cliff overlooking PCH and the ocean. Our son practically grew up there we went so frequently. Bring your lunch from Bay Cities and have a picnic.

Another critical mission would be a slow bike ride from Santa Monica down to Redondo Beach and back. A beautiful ride through Manhattan Beach, Hermosa and Redondo. The ultimate beach vibe. Don’t forget to stop in El Segundo for food… the best restaurants in the South Bay. Fisherman’s Village in Marina Del Rey is also one of my favorite spots to clear my mind and an easy ride just off the main boardwalk.

All that said, my absolute favorite place in Los Angeles, and yes it is Los Angeles County, is the little town of Avalon on Catalina Island. Catalina is one of my favorite places in the world and I visit as often as I can. It’s impossible to have a bad day in Avalon. Even the boat ride there is fun. Spend two days on Catalina and you’ll be happy you did.

Shoutout is all about shouting out others who you feel deserve additional recognition and exposure. Who would you like to shoutout?
I never had a formal mentor, and I’d probably be further along on my journey had I had one. My first real boss, Bill Lederer at Art.com, pre-dot-com bubble… he was maybe my first indirect mentor. The guy is a genius. We’re in touch to this day. I’ve worked for other great leaders but Bill was the closest thing to a mentor.

Aside from that, my mentors have primarily been podcasts and books that I’ve read. I was an avid reader when I was moving closer to launching Astero Group. I’m not as much anymore. These days I learn mostly from podcasts and select networking events.

Books and podcasts – the right ones come to you at the right moments. Things that were relevant at a certain phase of one’s journey may no longer be relevant and vice versa. So the answer is I’ve had a lot of indirect mentors, and in the beginning, it was podcasts with Lewis Howes and books such as Rich Dad Poor Dad by Robert Kiyosaki and the 4-Hour Work Week by Tim Ferriss. Too many to name. Of course one needs to read the classic authors such as Dale Carnegie repeatedly.

Everything is a learning experience. My best advice for those chasing a goal, which is everyone I surround myself with, is to get out there and execute! Don’t spend too long in the learning phase. Execution is the best teacher. Execute, fail, improve, repeat. People who talk, toil and dwell do not achieve. Don’t tell people what you’re going to do, tell them what you’ve done. No matter what your goal, to be an author, an artist, to launch a creative agency, to start a band, to launch a new product… go DO IT!

Website: https://iamjimmiller.com

Instagram: https://www.instagram.com/iamjimmiller2

Linkedin: https://www.linkedin.com/in/iamjimmiller/

Youtube: https://www.youtube.com/@asterogroup