Great video, LinkedIn is an absolute nightmare now. I’m done with trying but still need clients - what else can I do? Cold outreach?
@davidcristello430511 сағат бұрын
Online forums, webinars for target audience, and yes, some version of cold outreach will always be effective
@jonmarshall-riggs7685 сағат бұрын
@@davidcristello4305 thanks mate!
@Greg_Chase5 күн бұрын
I have a computer science degree from UC Berkeley and interned in AI at ICSI while a student ("International Computer Science Institute"). Training neural nets cannot lead to an 'entity' willing to take full responsibility for ANY data set, including data from an accounting/bookkeeping/finance effort. Because there are legal issues regarding accuracy, an AI-produced data set of an accounting nature must be examined by an 'entity' able to validate then take responsibility for accuracy. They're never going to hold an LLM responsible for a data set that was represented as "Accurate and Complete" They are going to hold responsible the person(s) who relied on the LLM. There will be no shirking of responsibility when an accounting data set is presented as "Accurate and Complete' - it will have to be a human. Why? Because LLMs do not fear legal consequences, loss of freedom/jail time for fraudulently submitted data. There is absolutely NO WAY our business will ever submit LLM-produced accounting data as "Accurate and Complete" - we're going to rely on: - human bookkeeper - human accountant - human finance expert Can LLMs prepare accounting data sets to be reviewed by humans? Sure. But the human professionals will decide if they accept the liability of submitting data to civil authorities that came solely from an LLM. I would not want my livelihood and possibly my freedom "in play" due to relying on an LLM. I wouldn't do it. Marketing data? fine. Journalism output? Sure. Any data set where I'm liable for "Accurate and Complete" ? NO WAY. It's the same problem for attorneys and physicians. Too much to lose, to rely on an LLM.
@Jimmymcgee2Ай бұрын
I like the part where they talk about how to earn 250k per year
@rodneyhu473Ай бұрын
Great interview. Very helpful in my research process.
@davidcristello4305Ай бұрын
Thanks!
@dcpyt20032 ай бұрын
A wealth of information!
@davidcristello43052 ай бұрын
Thanks!
@voodoochild8632 ай бұрын
What was the book Reset..?
@stephensawyer25113 ай бұрын
Like the CFO/Ops management in this one
@nataliemesbah16393 ай бұрын
I L❤VE a Countess!!! This was an expansive conversation; thank you!
@davidcristello43053 ай бұрын
Thank you!! We loved having Geni on!
@EffortlessBookkeeping4 ай бұрын
Great interview - all the best for the next phase of growth Luke
@EffortlessBookkeeping4 ай бұрын
great video - i was curious how many clients can one overseas bookkeeper handle on their own ?
@davidcristello43052 ай бұрын
Great question! It might be dependent on the firm you outsource with...?
@rickesselment15404 ай бұрын
Thank you for this conversation - just finished the book and listening to reinforce the concepts in my mind now. John is great.
@gwcpas4 ай бұрын
Proud of you buddy - Barrett
@Jetpackworkflow-software4 ай бұрын
Thanks for the words of support for Tyler. He was a great guest!
@bruceclark83335 ай бұрын
John made some very good points but missed some really key important ones. Having sold over 1000 accounting firms nationwide here are a few points I’d like to make. First private equity is already in the market and spending huge sums of cash. I know having personally sold numerous firms to several different PE firms over the last three years. Next I didn’t hear much about the importance of profit margins which is one of the main drivers for valuing a firm. And lastly the importance of profits cannot be understated. If one firm putting 50% to the bottom line and another similar type firm is only making 30% clearly the one making 50% is worth more money. Most of the sales I’ve been involved with over the past 5 yrs have sold for between 1.2 to 1.4 times GAB. My PE buyers are paying 3 to 5times EBITDA. And I just sold one firm in Brooklyn NY that’s was netting 65% for 250% cash at closing. That’s 9mm dollars!! Bruce Clark CEO New Clients Inc
@accountant1105 ай бұрын
Is Jetpack Workflow supposed to be niched towards CPA firms? I noticed mostly CPA firm owners on these interviews
@Jetpackworkflow-software5 ай бұрын
We do! CPA (tax, payroll, bookkeeping, CFO, outsourced accounting, CAS)
@user-ki8xt5sx1l6 ай бұрын
This software is terrible and inferior to a simple application like Drop Box. Their customer service is horrible. The delay in a response is 2 weeks. This purchase was a giant waste of time and money. I will make a video detailing my experience with them and their lousy customer service this summer. I saved zero time compared to using Drop Box. One example is that when a client uploads a source document, I was unable to edit that document. Like rotate the page, separate combinded pages, etc. Just basic stuff was a chore. Each new client had to be edited and if you have a problem then you can click on the little chat box which is an exercise in futility. I paid for Docusign which didn't work. And even if it did, I'd have to wait 2 weeks for customer service to help me. I paid for the migration which was terrible. Most of the items were not moved successfully from drop box. Some folders in the migration are completely empty including my personal folder, lol. You'd think they would get that right. It's been and continues to be a terrible experience. They're are automated emails explaining what a good job you are doing are a joy as well, Hope this helps anyone considering purchasing this crappy software. Oh and you have to buy a Microsoft subscription if you want to edit docs. You can't just use a web document version like with google sheets or drop box.
@mrwilly416 ай бұрын
Terrible company .How does it work? How do you delete a uploaded file? Where the hell is the trash option?
@AK_B2B6 ай бұрын
Hey man, Why don't accounting firms leverage cold emails, linkedin outbound etc? Automated systems to reach out to thousands of prospects a month.
@davidcristello43056 ай бұрын
Some do (Michael Ly's interview with us highlighted this)
@AK_B2B6 ай бұрын
Can you link me to it?@@davidcristello4305
@rubenc.56487 ай бұрын
I wish he was on the podcast longer. He definitely needs another episode 💯
@sriyanipremasiri67607 ай бұрын
Hi,I hope to join a bookkeeping/Accounting firm as an virtual employee. I like to work for US,UK,Australian or New Zealand bookkeeping firms. I live in Sri Lanka(My country-It is south Asian country).How can find a job?
@silvery2850Ай бұрын
Start a small firm and start selling.
@Essays4College8 ай бұрын
1:30 She said she started in 2010; Then at 14:08 she said some of them have been with her for "20-something years" Hmmm.....maybe I'm missing something there?!
@elianasmith63308 ай бұрын
I am learning so much from watching your videos. Thank you so much for sharing this amazing source of information. This one is quite helpful.
@Jetpackworkflow-software8 ай бұрын
Thank you! We really appreciate the support and kind words. If there are any other topics you think we should interview folks on, let me know !
@jamesm.92858 ай бұрын
This is hilarious as someone just re-embarking on my accounting education. 😂😂 Clearly a lot to look forward to!
@Jetpackworkflow-software8 ай бұрын
haha thanks! Appreciate the comment
@EdgewoodTennis8 ай бұрын
I do 1040s and make a 7-figure profit. It's a great business when priced correctly.
@EdgewoodTennis8 ай бұрын
@@Brandon-ko3yp For a married couple with one rental property, it's $1,500. Because my prices aren't low, I only attract high income clients.
@lisapownall75128 ай бұрын
Trina, you are absolutely speaking my language! Thank you for this great video. I am also a sole practitioner, and 85% of my work is tax prep. My niche is cross-border taxation, which works out perfectly as I am in Canada in a town very close to the US border. You made perfect sense explaining how you don't burn yourself out by sticking to working 50 hours a week during the busy season, having a client chopping block (mine is called the Buh-bye Client List), and having a superstar office manager. You sound fun, friendly, organized, and have respectful but firm boundaries with all of your clients. Thanks again! ~ Lisa
@Jetpackworkflow-software8 ай бұрын
Love the Buh Bye list comment Lisa. Thanks for the note!!
@Essays4College6 ай бұрын
Lisa, how did you get your start to becoming full-time? Did you buy a practice like Trina did?
@davidcristello43056 ай бұрын
@@Essays4College good question, bumping!
@Essays4College6 ай бұрын
@@davidcristello4305 Thanks for the bump! I notice many firm owners buy their practice. However, I'm interested to know how long it typically takes for those who don't buy and want to go F/T organically.
@davidcristello43056 ай бұрын
@@Essays4College have you seen the Brandon Hall interview? He grew very quickly organically
@stephaniemack86149 ай бұрын
David, great questions! Thanks for the opportunity. So sorry my laptop screen was broken & I didn't realize it was bouncing so much.
@Jetpackworkflow-software9 ай бұрын
Not a problem! Content was great, thats what we care the most about!
@Essays4College9 ай бұрын
6:30 Great question! Still waiting to hear the real answer.
@Jetpackworkflow-software9 ай бұрын
Can you clarify further?
@ens828010 ай бұрын
Nice to hear about the pods and structure
@ludes45410 ай бұрын
Fantastic interview! You ask all the nitty gritty questions beginners want and need to know - those that it seems every other KZbinr/Podcaster/Marketer glosses over. Cheers. subbed and alerts turned on 👌
@Jetpackworkflow-software10 ай бұрын
Thanks! Appreciate the comments and for listening!
@soniajones330110 ай бұрын
Fantastic interview guys. Great questions and follow up questions and really thorough answers that have given me a huge wealth of knowledge of ‘what to do next’
@ens828010 ай бұрын
“Some old, white male teaching accounting 101”….yeeesh, terribly cringy take guys, on top of some other questionable opinions - but there were a few positive takeaways. This is someone delivering opinions on our industry who hasn’t done substantial work in our industry to have deep experience. Just like how academia has no pulse on day-to-day of PA.
@Freedom_folio10 ай бұрын
$1200 a business tax return, I donno that's more like price for an individual return...Not sure how you can hire any good talents starting at $100k a year charging $1200
@ens828010 ай бұрын
Yeah, if TT is setting a step at $1,500 then tax pros don’t want to be under that mark. That’s a huge miss from this guest. I actually listened to their episode where they used TT and it was a shit show from Intuit.
@davidcristello430510 ай бұрын
Agree, but also surprising that there's firms who are not even charging $1200 for a business return!
@christopherm903710 ай бұрын
Promo'SM
@ens828010 ай бұрын
Perfect example of playing to your strengths. She has those small town relationships, which are hard inroads for “outsiders”, and services them very well.
@davidcristello430510 ай бұрын
100%. Did not need fancy marketing tactics to build a strong firm! Many ways to think about client acquisition
@EdgewoodTennis11 ай бұрын
Louie, why do you need to open offices in other states if you don't see clients in person?
@Essays4College Жыл бұрын
13:55 where’s all the talent? Just from her answer I can almost guarantee that she’s only looking for women to hire.
@EdgewoodTennis Жыл бұрын
Thanks for the subtitles.
@masseyandcompanycpa4682 Жыл бұрын
Good job
@matthewardelean2028 Жыл бұрын
I always watch this the day after Tax Day!!! It brings the biggest smile to my face every time!
@coachkenny Жыл бұрын
Great podcast!
@patriciaromero-jl4ur Жыл бұрын
This interview was so helpful for me. I just joined the Facebook group she mentioned. Thank you for sharing!
@jameszeris5418 Жыл бұрын
Thanks Tom another excellent job
@carlhammill5774 Жыл бұрын
I personally think going up-stream is way to go but it needs to be within a complex accounting/bookkeeping industry. The down-stream model likely puts you in the sphere of struggling business who may be frustrated (and directed at you) and more likely to question/dispute fees (even if they are cheap).
@richreviews1279 Жыл бұрын
Great Video👍! I’m in the IT industry I wanted to ask can you buy IT companies in M&A. the same way you buy Accountancy Firms?
@DreamFirms Жыл бұрын
Thank you for the shout out Shanita! So proud of you and what you've been able to accomplish. What an awesome niche =)
@syebethel Жыл бұрын
I so agree with the broad-brush marketing 😆. In the beginning, I actually think it's necessary; at least it will help you get your footing, before niching, before hiring, etc. When there's some cushion, niches will come organically.
@ip6550 Жыл бұрын
#discoverycall
@shaneholbeck6697 Жыл бұрын
Fantastic interview David. Really appreciate how you dug deep to get the answers viewers would be asking.
@morejazzmoreass4472 Жыл бұрын
Great video!!!
@DreamFirms Жыл бұрын
Keep posting. Learning so much from your channel. Thanks.