In today’s episode, I’d like to discuss the things we can learn from venture-backed accounting firms and how we can use this to our advantage to remain relevant in our industry as it changes.
0:52 – Why start an accounting firm? We chose this profession so we can fulfill our duty as CPAs, to provide the public with a variety of services to serve and protect it.
1:23 – However, to continue providing high-quality services to the public, we need to remain relevant.
2:04 – To give an example as I discussed in episode 46, Pilot, who provides accounting to small businesses, is now worth $1.2 billion following Jeff Bezos’ personal investment in this quasi-tech startup, quasi-accounting firm.
3:33 – If you think about venture-backed firms and some of their traits, it can help us shape ideas on where our firms should be heading.
4:03 – Of those characteristics, customer satisfaction is the most interesting. Venture-backed firms are here to stay and they will keep finding new ways to serve the public.
5:07 – Unlike most of the others, Botkeeper partners with firms rather than competing with them. They are focused on providing a highly scalable and pleasant customer experience, similar to other venture-backed models.
5:34 – How can you stay relevant? Improve customer experience. Consider ways to reduce pain for your customer’s journey.
5:51 – To do this, the first step is to map your customer journey from start to finish, assessing every point of interaction between your firm and the client, from the moment they land on your website through your delivery process.
