Financial visibility, advice and assistance for businesses.
Adam Dobie knew there was a better way of doing things. To succeed, SME’s need access to valuable advice in a timely manner at a price they can afford. And he wanted to make that happen.
This is what Adam shared about his business:
Q. Describe your business and products/services you offer
We are the new breed of accounting firms today. 100% online and 100% client focused. We use the latest technologies and our resources to provide clients with financial data that is LIVE and up to date TODAY. Our products are aimed at Small and Medium Sized Enterprises (SME’s) with fixed costs per transaction so you know exactly what it costs! We established these products to streamline the financial processing time and minimise the compliance burden. This allows us to have an interactive, trusted relationship with our clients to focus on what is needed to reach their goals.
Q. How long have you been in business?
We’ve been in business for approximately 12 months, but have over 35 years combined industry experience.
Q. How many hours a week do you work in your business?
We don’t count. We love what we do! If we had to put a number on it, I’d say we’d be 45+ hours each week. This would be split between working with our client and working on our business.
Q. What kind of online and offline marketing do you do and which is working for you?
Our online marketing presence is quite strong. We have a cool website, two Twitter accounts (@AccountancyO and @sportstarstax), a LinkedIn company page (linkedin.com/company/accountancy-online—australia), a Facebook page (facebook.com/accountancyonline) and we write awesome blogs! We use our online marketing to increase our profile, build credibility and reach an infinite audience. We also want to increase the reach and improve the advice to SME’s and that’s why we have a DAILY blog. It’s critically important to be active to maintain audience attention. Online marketing has allowed us to reach people without a formal introduction and immediately let them know our capabilities.
Offline we do the traditional accounting marketing… word of mouth! It’s probably the best type of marketing as the recommendation is coming from a trusted source who values our service. We have a lot of traction with this type of marketing and conversion rates are extremely high.
Q. What mistakes have you made in running your business and what lessons have you learnt from those?
Our mistake was not communicating our “product” early and clearly enough. There is a lot of work to do when starting up a business and although our products were completely developed we hadn’t articulated it in the clearest manner. However, we have now!
We’ve learnt that you need to listen to what your clients, or prospects, WANT. And you need to know exactly what your competitors are doing. You also need to understand where the market is going and what you need to do to keep at the forefront. It’s also important to challenge the status quo because times are changing very quickly!
Q. How has your website helped you run your business?
It gives us a “home” in the cloud. People expect a website and they expect there is some REAL content. We don’t want ours to be a one visit site, we want people to keep coming back, that’s why we have made ours interactive, fun and great looking… a little different to your usual accounting firm website!
Q. What obstacles or challenges are you facing at the moment?
The accounting industry in the midst of the fastest and greatest change environment it ever seen! Technology changes will see financial data entry and tax compliance become very simple and essentially devalued. In fact, it has been reported that accountants will be replaced by robots within the next 20 years! . The biggest challenge in the industry will be to adapt to this change and use this as an opportunity to create a new valued service for its client base.
Q. Any other comments / points you would like to share about running your business?
With today’s technology starting a business is easier; running one however still requires a lot of hard work. You MUST do something you are passionate about, something that you can’t wait to get out of bed for and you can’t stop at night. This passion will get you through the hard days.
You MUST embrace the internet and all the online marketing trends. Who would’ve thought Twitter or Facebook would drive so much business a few years ago?
It is an amazing time we live in, where you can be a “global” business in one day… what an opportunistic time we line in!
For more information, visit the Accountancy Online website.