Running a business for over 30 years is no small feat — especially in industries as complex and fast-changing as healthcare and accounting. Yet, David Dahm, founder and CEO of Health and Life, has done just that. Through economic downturns, personal challenges, and evolving client needs, David has built a business that not only thrives but also stays true to his values.
In this article, we’ll unpack the key lessons from David’s journey — from discovering his purpose after a life-changing car accident to becoming a trusted voice in Australia’s healthcare industry. Whether you’re a business owner looking for longevity or a founder trying to align profit with purpose, there’s plenty to take away from David’s story.
Finding Purpose Through Personal Setbacks
David’s entrepreneurial journey didn’t begin in a boardroom — it started with a near-death experience. After a serious car accident left him facing multiple surgeries, David had a turning point: money means little if you don’t have your health. This personal experience gave him a new sense of purpose, leading him to focus his career on creating sustainable, ethical healthcare businesses that prioritise both patient care and financial health.
Key takeaway: Sometimes your most powerful business ideas come from personal experiences. Ask yourself — what problems have you lived through that you could help others solve?
Building a Niche Business — And Staying Focused
When David founded Health and Life in 1992, his vision wasn’t to be a traditional accounting firm. Instead, he saw a gap: healthcare providers needed both financial literacy and operational guidance to run sustainable practices. By focusing exclusively on the healthcare sector, David became a true specialist — understanding not just the numbers, but the real-world challenges doctors and practice owners face.
Why Niching Down Works
- You build deeper expertise faster.
- Your marketing becomes clearer.
- You attract higher-quality clients who value specialisation.
- You become known as the “go-to” expert in your space.
Lesson: The temptation to serve everyone can dilute your expertise. Consider whether narrowing your focus could help you stand out and deliver more value.
From Accountant to Trusted Advisor
David’s business evolved based on client needs, not just his own plans. Initially offering consulting, he added accounting services when clients demanded both. From there, Health and Life expanded into legal templates, compliance tools, and even proprietary software (like the Doctor’s Pay Calculator) to help healthcare practices manage payroll, tax, and contracts seamlessly.
This customer-led evolution is a valuable lesson for any business:
- Listen closely to what your clients really need.
- Stay flexible and adapt your offering.
- Invest in creating tools and processes that solve real pain points.
Staying True to Ethical Business Practices
One of David’s strongest convictions is that business success and ethics must go hand-in-hand. Early in his career, he witnessed the devastating impacts of unethical behaviour during a banking collapse. That experience shaped how he built his own business — prioritising transparency, compliance, and doing the right thing over quick profits.
This ethical stance became a competitive advantage, particularly in a highly regulated sector like healthcare. Clients trusted David not just to manage their money, but to guide them through compliance minefields and protect their reputations.
Leveraging Media to Build Authority
David didn’t just work behind the scenes — he actively contributed to industry conversations. From writing articles to appearing in national media, he became a respected thought leader on the intersection of healthcare, finance, and ethics.
How Media Exposure Helped His Business
- Established him as a trusted authority.
- Attracted high-quality clients seeking ethical, specialised advice.
- Gave him a platform to advocate for industry-wide improvements.
David’s approach to media wasn’t self-promotional — it was mission-driven. By addressing real issues (like medical practice compliance and patient affordability), he built trust and credibility, which naturally led to more business.
Scaling Through Systems and Processes
As Health and Life grew, David relied heavily on systems, automation, and clear processes to maintain quality and efficiency.
Key Systems David Recommends
- Project Management Tools (like Wrike): Track every task, project, and deadline.
- Centralised Communication (like Google Chat): Keep all team conversations searchable and organised.
- Process Documentation: Detailed manuals and video training so new staff can onboard quickly.
- AI and Automation: Use AI to surface insights, flag risks, and automate routine tasks.
Lesson: Sustainable growth requires systems, not just talent. Document your processes, automate where possible, and make sure everyone works from a single source of truth.
Hiring for Fit and Culture
David’s hiring process is deliberate and selective — designed to filter for people who share Health and Life’s values and commitment to quality.
His Hiring Process Includes:
- A detailed 128-page culture and expectations guide applicants must read.
- A “hidden test” at the end to check attention to detail.
- Direct interviews with David himself — no delegation.
This ensures only candidates with the right mindset, patience, and values join the team, which helps preserve the firm’s culture over time.
Staying Mission-Driven (Even After 30 Years)
Despite evolving his services and team over three decades, David’s core mission hasn’t changed:
“Create a sustainable and socially responsible healthcare system — in Australia and globally.”
This clear sense of purpose keeps David and his team focused, even during tough times. It also helps attract clients who value the same principles, creating deeper, long-term relationships instead of transactional engagements.
What’s Next: FamilyConnect AI
True to his focus on innovation, David’s next big project is FamilyConnect AI — a private platform designed to:
- Connect family members across generations.
- Store and share medical history securely.
- Improve medical appointments by giving doctors complete patient histories.
This project, born from David’s personal experience, reflects his ongoing commitment to improving healthcare through smarter technology — and it’s set to have a global impact.
Conclusion
David Dahm’s story is a reminder that building a successful business isn’t just about profit — it’s about purpose, resilience, and staying true to your values, even when it’s tough. From navigating personal setbacks to reshaping his entire business model to meet the evolving needs of his clients, David’s success is rooted in adaptability and a relentless focus on doing the right thing.
Whether you’re just starting out or looking for ways to future-proof your business, there’s a lot to learn from someone who’s spent over 30 years in the game — and still loves what he does. Take a moment to reflect on your own vision, the kind of impact you want to make, and the people you want to serve. That clarity, as David proves, can make all the difference.