In this episode, Mehmet Gonullu sits down with Will Spengler, Founder and Principal of Frederick Fox, to explore how hiring, entrepreneurship, and scaling professional services businesses are evolving in the age of AI.
Will shares his journey from working in staffing firms to building a 70-person company organically, without venture capital. The conversation dives deep into the realities of scaling a services business, the importance of relationships as a competitive moat, and why AI, despite its capabilities, still cannot replace the human element in hiring.
They also discuss how founders should think about hiring finance talent, common mistakes in early-stage hiring, and the leadership lessons learned from building a business from the ground up.
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👤 About the Guest
Will Spengler is the Founder and Principal of Frederick Fox, a staffing and recruiting firm specializing in accounting, finance, technology, and sales roles. Since launching in 2019, Will has grown the company to nearly 70 employees, scaling organically without venture capital or private equity funding.
Frederick Fox focuses on building long-term partnerships with both clients and candidates, with a strong emphasis on human relationships and performance-driven culture.
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🚀 Key Takeaways
• AI is transforming sourcing and data analysis, but human relationships remain critical in hiring
• Bootstrapping a business forces discipline, clarity, and strong execution
• The real moat in professional services is trust and long-term relationships
• Hiring finance talent requires matching both industry and company stage
• Over-hiring or hiring from large companies can hurt early-stage startups
• Scaling requires a clear vision, strong leadership, and people management skills
• Entrepreneurship comes with significant personal and family trade-offs
• Learning in business comes primarily from failure and iteration, not theory
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🎯 What You’ll Learn
• Why AI cannot fully replace recruiters or human interaction in hiring
• How to scale a professional services business without external funding
• The right way to hire your first accountant, controller, or CFO
• Common hiring mistakes founders make in early-stage companies
• How to build a culture of ownership and performance
• Why relationships are becoming more important in an AI-driven world
• What it really takes to build and lead a growing company
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⏱️ Episode Chapters
00:00 Introduction and guest background
01:00 Building Frederick Fox and early journey
03:00 Identifying the opportunity in staffing
05:00 Scaling a business without venture capital
07:00 The importance of vision and planning
09:00 Hiring finance talent in startups
13:00 Where to find top accounting and finance talent
15:00 AI’s impact on recruiting and hiring
19:00 Human relationships as a competitive advantage
22:00 Building internal tools and automation
25:00 Creating ownership through equity
28:00 Leadership lessons and personal growth
32:00 Learning through failure in business
35:00 The reality of entrepreneurship
39:00 Closing thoughts and where to connect
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🔗 Resources Mentioned
• Frederick Fox: https://www.frederickfox.com
• Will Spengler on LinkedIn: https://www.linkedin.com/in/wspengler/