Chris McKee

Disclaimer: This transcript has been lightly edited for clarity and readability. Filler words were removed, sentence structure improved, and formatting adjusted while preserving the original meaning and conversational tone. Henry Harrison: Well, hello, Chris. Welcome to our podcast, Entrepreneurs, Business and Finance. We’re fortunate to have Chris McKee on the show this morning. Although I’m concerned that maybe Chris has taken a fall. He’s chairman of Venturity Financial Partners, but instead of him being on the cover of D Magazine, there’s someone named Deanna Walker on there. I’m wondering if there was a hostile takeover. I actually know the story. Chris is the founder and current chairman of Venturity Financial Partners. Deanna joined early on and has now stepped into the CEO role. Chris decided to step down from the day-to-day and pursue some new avenues—perhaps teaching. So what brought on that change? You’ve had the company for 23-plus years now. Chris McKee: It’s 23 plus, yes. First, Henry, thanks for having me on. We’ve had a long relationship over the years as business owners and friends, and I appreciate the opportunity to share the story. I founded the company in 2001. Deanna joined in 2003. We provide outsourced accounting services and have grown steadily over the years. In 2022 and 2023, I began feeling like it was time to hand off the reins. That became official last December 1st. So we’re about six months into that transition. Part of it was that I’ve been in the CEO role for a long time and was ready for new challenges. But more importantly, I felt—and Deanna and I both felt—that the organization was ready to grow in ways that suited her leadership style better than mine. She’s the right next leader for Venturity. Henry Harrison: Before we go further, I want to talk about employee ownership. You implemented an ESOP structure, which is relatively uncommon. What was the motivation behind that? Chris McKee: The ownership transition actually predated the leadership transition. Around 2015, I started thinking about the future. My kids weren’t interested in accounting, so passing it down wasn’t an option. I explored strategic buyers and private equity, but I’d heard too many stories where culture and continuity suffered. I wanted longevity for our team and our clients. I came across employee ownership through an ESOP. It’s a tax-efficient way to transfer ownership to employees over time. We’ve sold 20% of the company into the ESOP so far. Over the next seven or eight years, I hope to sell the remainder to the ESOP. Employees receive allocated shares over time, and when they retire or leave, the company buys those shares back and reallocates them. It creates perpetual ownership transfer and allows the team to build meaningful wealth. Our share price has more than doubled in three years, so it’s been rewarding to see that impact. We’re all rowing in the same direction now. Henry Harrison: Talk about how Venturity evolved. You started in accounting and auditing. Chris McKee: I graduated in 1989 and joined Arthur Andersen. I was fortunate to start at what was then the premier accounting firm. After five years in audit, I realized I enjoyed being hands-on inside companies. I moved in-house—planning and budgeting roles, controller, VP of finance. In 1999, the company I was with didn’t get its next round of funding. I started helping people clean up their books while looking for a full-time role. That revealed a market need. Smaller businesses couldn’t attract and retain strong accounting talent. So in 2001, I launched Venturity with a couple of clients. It was just me at first. Then I hired someone. Then more clients. And it grew from there. Henry Harrison: You’ve mentioned the “accounting exorcism.” Tell that story. Chris McKee: In the early days, I was selling accounting and doing accounting. Deanna joined in 2003 to sell while I focused on delivery. By 2005, we realized I couldn’t do both. I had to choose: keep doing accounting or run the company. We literally called it an “accounting exorcism.” I handed off all my clients. It wasn’t complicated—it was emotional. I loved accounting. A friend in EO recommended The E-Myth. It clarified the decision: either stay a technician or build a company. It wasn’t obvious at the time. Being CEO comes with responsibility and trade-offs. But looking back, I’d make the same decision again. Henry Harrison: What were some major challenges? Chris McKee: In 2008, like many people, I was overly optimistic. I committed to more expenses than I should have and was too slow to cut costs. We nearly ran out of cash. Another time, we were hit by ransomware early on—before many people understood it. We couldn’t process client accounting for a week. I genuinely thought I might lose the business—or my reputation. Fortunately, our IT team recovered the data. Even as an accountant, you make mistakes. Entrepreneurship is hard. But as the business grows, you get better problems. Early on, losing one client can threaten survival. Later, you have more stability and depth. Henry Harrison: You’ve added fractional CFO services. How did that evolve? Chris McKee: We started with tactical accounting—controller-level services. As clients grew, they needed strategic advice. They wanted help interpreting financial data and making decisions. So we built fractional CFO services—strategic financial advisory layered on top of tactical accounting. It’s deepened relationships and helped clients use financial information as a strategic tool, not just compliance reporting. Henry Harrison: And now, what’s next for you? Chris McKee: I’ve always loved teaching. A big part of building Venturity was developing internal training and mentoring people. I’d love to teach accounting at the college level—bring real-world experience into the classroom and connect theory with what actually happens in business. If things work out, I hope to be teaching by fall 2025. Henry Harrison: If someone wants to connect with Venturity—or with you personally—what’s the best way? Chris McKee: Venturity.net is the company site. If someone wants to talk about employee ownership, leadership transition, EO, or even accounting, they can reach me directly at chris@venturity.net or 214-435-8473. I’d be happy to connect. Henry Harrison: Chris, I admire what you’ve built and how you’re thinking about succession and legacy. Thank you for coming on. Chris McKee: Thanks, Henry. It’s been a pleasure chatting with you.