This Thanksgiving, I’ll be giving thanks for cloud accounting.
You might think I’m crazy. How could anyone possibly be that thankful for accounting software?
Well, it’s now six years ago that I started playing around with cloud apps. At the time I was freelancing as a part-time bookkeeper.
All I was aiming to do was cut down on the time I was wasting running around town to my various clients.
But these apps ended up creating a much bigger opportunity.
Cloud accounting gave me the opportunity to start my own firm and sell it just three years later. It gave me specialized knowledge that I leveraged into a management position at a large accounting firm.
In five years I went from $25 an hour to $250 an hour!
That’s a 10x improvement— just the sort of result you’d expect from tech that’s truly game-changing.
Now, I understand that I’m an outlier, and not everyone is going to see the same results. But what if you could increase your revenue by 20% without adding any staff? For many firms, that would lead to a doubling of profits. That alone could be life changing for many accountants.
So, that’s why I’m thankful for cloud accounting, and also why I’m excited to see where it takes us in 2018 and beyond.