26 Aug Numbers and Figures: How one Australian Start-Up Wants To Take the Pain of Accounting Away
Let’s face it, one of the worst parts of owning your own business is the money (usually not enough) but mainly trying to keep your financials in order.
Bookkeeping is usually number one on the list of worst parts of a business owners life.
There are a multitude of different software packages out there for health professionals so we decided to track down a local company and get their insight into running a successful business.
We introduce Jason Andrew from Australian start up SmartBooks Online.
SmartBooks Online is a bookkeeping firm that provides a completely digitised and outsourced bookkeeping solution to small business owners. We couple the latest
technology and provide access to a team of accounting professionals in a monthly subscription.
Jason, how did the concept of SmartBooks Online come about?
SmartBooks Online was born from my days as a practicing Chartered Accountant. My role as a business advisor was to help business owners understand the drivers and metrics, to measure the performance of their business – which is vital for any business that wants to grow to the next level.
The challenge was many business owners didn’t have the time, or knowledge, to do their own bookkeeping, and quite often the financial data we relied on was not accurate!
We founded SmartBooks Online to take the time consuming bookkeeping function away from our clients, so they have clarity over their financial position and free up their time for the things that matter, like growing revenue, innovating and nurturing staff.
What makes Smartbooks Online unique and stand out from the rest in the market place?
A few things that differentiate us from your traditional ‘bookkeeper’:
We’re technology centric and we help streamline the accounting function of our clients with cool apps.
We reconcile your financial data weekly, so business owners always know how they are tracking.
We don’t charge by the hour!
In the world of ‘start ups’, what’s the best advice you can pass on?
Be patient – As the cliché goes, there’s no such thing as an overnight success. I am a super impatient person so it’s really, really difficult. Daily meditation has helped me with that.
Don’t underestimate the importance of marketing – I’ve learnt it’s probably THE most important aspect to your business. Hands down.
Take time to chill – You will naturally be obsessed with your company, to the extent that you will talk and think about it 24/7. Because you’re so future focused you will begin to live your life in the future, not the present. Take time out every now and again to be present and enjoy the now, not what could be in 6 to 18 months. Reflect as much as possible.
What’s the best advice you have personally received that kept you on track?
Keep focused on the one core product; don’t try to do more until you’ve nailed that.