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    freshbooks

    Explore " freshbooks" with insightful episodes like "Cloud Accounting Firm Breaks Into Top 100", "Timesheets Cause Accountants To Flee Profession", "Making the Turn from Data Inventory to Helpful Information with Mara Reiff, the Chief Data Officer of FreshBooks", "Wrong Metrics, Wrong Conclusions" and "Kanadisches Unicorn Freshbooks übernimmt FastBill" from podcasts like ""The Accounting Podcast", "The Accounting Podcast", "IT Visionaries", "The Accounting Podcast" and "Startup Insider"" and more!

    Episodes (66)

    Cloud Accounting Firm Breaks Into Top 100

    Cloud Accounting Firm Breaks Into Top 100

    Sponsors

    OnPay https://cloudaccountingpodcast.promo/onpay
    FreshBooks https://cloudaccountingpodcast.promo/freshbooks
    Scribe https://cloudaccountingpodcast.promo/scribe

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    Show Notes

    01:37 – Top Firms 2022: What Great Resignation?             

    https://www.accountingtoday.com/news/top-firms-2022-what-great-resignation 

    03:19 – 2022 State of Accounting Firms Trends Report

    https://insights.caseware.com/caseware-2022-state-of-accounting-firms-trends-report

     

    05:58 – The fastest-growing firms in the U.S. — 2022        

    https://www.accountingtoday.com/list/the-fastest-growing-firms-in-the-u-s-2022

     

    08:00 – YPTC Scores Second Place on Accounting Today’s 2021 List of Best Accounting Firms to Work For

    https://www.yptc.com/yptc-scores-second-place-on-accounting-todays-2021-list-of-best-accounting-firms-to-work-for/

     

    12:20 – Cloud computing expected to skyrocket in accounting firms

    https://www.accountingtoday.com/news/caseware-survey-finds-two-thirds-plan-to-increase-use-of-cloud-computing-solutions

     

    12:30 – Vast Majority of Accounting Firms Plan to Tap into Cloud Technology Due to Pandemic: Global Survey

    https://www.cfodive.com/press-release/20220309-vast-majority-of-accounting-firms-plan-to-tap-into-cloud-technology-due-to/

     

    14:25 – Email from Tyler – Audit at a Big Four – Thank you! 

     

    21:33 – DoorDash Partners with Office Depot to Offer Business and Learning Essentials On Demand

    https://doordash.news/consumer/doordash-partners-with-office-depot-to-offer-business-and-office-essentials-on-demand/

     

    25:27 – A bit about surge pricing

     

    27:24 – IRS budget increase slashed in latest spending bill              

    https://www.accountingtoday.com/news/irs-budget-increase-slashed-in-latest-spending-bill

     

    28:23 – IRS proposes to raise fees for enrolled agents

    https://www.accountingtoday.com/news/irs-proposes-to-raise-fees-for-enrolled-agents

     

    28:44 – IRS going on a hiring spree

    https://www.accountingtoday.com/news/irs-looking-to-hire-10-000-people-fast

     

    IRS to fast-track 10,000 hirings to address backlog

    https://www.journalofaccountancy.com/news/2022/mar/irs-fast-track-10000-hirings-address-backlog.html

     

    IRS direct-hiring 5,000 in service centers 

    https://www.journalofaccountancy.com/news/2022/mar/irs-direct-hiring-in-service-centers.html

     

    29:25 – IRS audits poorest families five times as much as others  

    https://www.accountingtoday.com/news/irs-audits-poorest-families-five-times-as-much-as-others

     

    IRS audits the poor at 5 times the rate of everyone else, analysis finds

    https://www.cbsnews.com/news/irs-audit-eitc-five-times-as-likely-to-get-audited/

     

    31:51 – Why underfunding the IRS hurts the accounting profession

     

    37:18 – Practice Ignition becomes ‘Ignition’         

    https://www.accountingtoday.com/news/practice-ignition-becomes-ignition-enhances-platform

     

    38:17 – Contabilizei Receives Investment of $60M Led by Softbank

    https://www.pymnts.com/smbs/2022/contabilizei-receives-investment-of-60m-led-by-softbank/

     

    40:30 – Patriot Software patents dual-ledger feature

    https://www.accountingtoday.com/news/patriot-software-successfully-patents-dual-ledger-accounting-solution-as-software-feature

     

    44:35 – Chargebee acquires collections management platform

    https://www.accountingtoday.com/news/chargebee-adds-accounts-receivable-services-by-acquiring-collections-management-platform-numberz

     

    45:14 – MarginEdge & Intuit Launch Unified Restaurant Solution

    https://www.prnewswire.com/news-releases/marginedge--intuit-launch-unified-restaurant-solution-301485003.html

     

    50:35 – Fieldguide raises $17M in new funding   

    https://www.accountingtoday.com/news/fieldguide-raises-20-million-in-series-a-funding-at-100-million-valuation

     

    52:55 – Tax and audit software reaching the clouds? 

     

    56:01 – Exclusive: Found raises $60 million for self-employed business banking

    https://www.axios.com/exclusive-found-raises-60-million-for-self-employed-business-banking-944d74ad-d2e6-4c4a-b953-1b0a34cd7301.html 

     

    Careers 

    Timesheets Cause Accountants To Flee Profession

    Timesheets Cause Accountants To Flee Profession

    Sponsors

    OnPay: https://cloudaccountingpodcast.promo/onpay
    Synder:
    https://cloudaccountingpodcast.promo/synder
    FreshBooks:
    https://cloudaccountingpodcast.promo/freshbooks


    Need CPE? 

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    Show Notes
     
    ... We've also got updates on the IRS "facelift" that fell flat, some big raises, some app news, and much more! 

    02:44 – IRS backs away from facial recognition

    https://www.journalofaccountancy.com/news/2022/feb/irs-backs-away-from-facial-recognition.html

     

    04:26 – IRS To Ditch Biometric Requirement for Online Access

    https://krebsonsecurity.com/2022/02/irs-to-ditch-biometric-requirement-for-online-access/

     

    06:33 – A Guide to Completing Your Organizer This Tax Season

    https://news.bloombergtax.com/tax-insights-and-commentary/a-guide-to-completing-your-organizer-this-tax-season

     

    11:00 –  Listener Mail – A Tale of Two Timesheet Stories 

     

    14:20 – The first Rule of Timesheet Club ... 

     

    17:42 – Listener Mail – Big 4 Timesheet Racket  

     

    20:11 – Listener Mail - Letters from Outside Alcatraz

     

    23:49 – Deloitte audit chief sees profession evolving amid pandemic | Accounting Today

    https://www.accountingtoday.com/news/deloitte-audit-chief-sees-profession-evolving-amid-pandemic

     

    27:35 – The Real Reason America Doesn’t Have Enough Truck Drivers

    https://www.nytimes.com/2022/02/09/business/truck-driver-shortage.html

     

    34:09 – Payroll Employee Quits on the Spot After Finding Potential Wage Theft, Exposes Company with Viral TikToks, Sparks Controversy

    https://amp.cheezburger.com/473351/payroll-employee-quits-on-the-spot-after-finding-potential-wage-theft-exposes-company-with-viral

     

    38:34 – The Timesheet Lies Coffee Table Book Needs You! 

     

    39:59 – The Crypto Bowl is the beginning of a blockchain advertising bonanza

    https://www.protocol.com/fintech/super-bowl-crypto-bowl

     

    41:59 – Crypto paychecks have more appeal outside the U.S. | Accounting Today

    https://www.accountingtoday.com/articles/crypto-paychecks-have-more-appeal-outside-the-u-s

     

    44:53 – Accounting Standards Are Key to Getting Digital Assets on Corporate Balance Sheets

    https://www.coindesk.com/layer2/2022/02/07/accounting-standards-are-key-to-getting-digital-assets-on-corporate-balance-sheets/

     

    46:54 – Uber CEO: Crypto Payments Are Coming…Someday

    https://www.pymnts.com/cryptocurrency/2022/uber-ceo-crypto-payments-are-coming-someday/

     

    47:37 – ­­KPMG Canada Latest Firm to Add Bitcoin, Ether to Balance Sheet – Blockworks

    https://blockworks.co/kpmg-canada-adds-bitcoin-ether-to-balance-sheet/

     

    Accounting Giant KPMG Invests in Bitcoin and Ethereum

    https://www.investopedia.com/kpmg-invests-in-bitcoin-and-ethereum-5218436

     

    48:40 – More Listener Mail – Modern Treasury

     

    50:21 – $66 million to give accounting firms the practice management solution they deserve | Karbon resources

    https://karbonhq.com/resources/66million-to-give-accounting-firms-the-practice-management-solution-they-deserve/

     

    Next Xero? Aussie accounting tech firm worth $402m after $93m raise

    https://www.afr.com/technology/next-xero-aussie-accounting-tech-firm-worth-402m-after-93m-raise-20220204-p59tv0

     

    50:59 – GoCardless Valued at $2.1B After Series G

    https://www.pymnts.com/news/investment-tracker/2022/gocardless-valued-at-2-1b-after-series-g/

     

    51:15 – Neat Inks Deal With Document Scanner Maker Raven

    https://www.accountingweb.com/technology/accounting-software-news/neat-inks-deal-with-document-scanner-maker-raven

     

    51:42 – Taxfyle raises $20M Series B round, plans to grow its team by 100+

    https://www-refreshmiami-com.cdn.ampproject.org/c/s/www.refreshmiami.com/taxfyle-raises-20m-series-b-round-plans-to-grow-its-team-by-100/

     

    53:08 – One More Listener Mail – Gaming the Accounting System

    54:15 - Accounting Games - They're a Thing?
    https://www.youtube.com/watch?v=dBXV1feuKSs


    Get in Touch

    Thanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Insta...

    Making the Turn from Data Inventory to Helpful Information with Mara Reiff, the Chief Data Officer of FreshBooks

    Making the Turn from Data Inventory to Helpful Information with Mara Reiff, the Chief Data Officer of FreshBooks

    If data is in a pool that only keeps getting deeper as data inventory is accounted for, when is the exact moment for a business leader to jump in to do something with all the accumulated information? Leaders who care about data appreciate that it’s necessary to take stock before analyzing and strategizing. But taking inventory could be all one does because, whether it’s in a small or large business, the amount of data is only increasing. Mara Reiff, the Chief Data Officer of FreshBooks, suggests to account for enough data to begin the work and then to dive in.

    Main Takeaways

    • Taking Stock and Then Activating: A company must take inventory of its data, of course. But taking stock of data is a perpetual process. So, the trick becomes knowing when enough data has been collected so that you can move to applying that information to solve particular problems on behalf of customers. 
    • Being a Data Advocate: With so much data at any singular organization, there can be a natural tendency to want to put one person in charge of all data and for that individual to have total responsibility, Reiff made the point that it’s impossible to be responsible for all data if one is not in control of who is adding all the data. Over time, she has come to see her role as being a leader who advocates for all the company’s data to be used in a responsible and constructive manner.
    • A Scientific Data Mentality: Accumulating data at a business is not done for its own sake. Whether one has a science background or not, using data to help customers is about hypothesizing, testing, making a case, and then acting on that basis. Sometimes it’s about finding a particular customer with an issue that needs addressing; other times it’s about anticipating customer needs and acting accordingly to address them.
    • ML and NLP: Many leaders in the data field are excited about the prospects of machine learning and natural language processing. One area to zero in on as a benefit is how NLP can really help in the area of translation; particularly for companies that operate in many countries. The mission for FreshBooks is to make accounting easier for small businesses, which the company serves in 160 countries. Translating language accurately and efficiently would certainly smooth and simplify accounting practices, among many other applications for other industries.

    IT Visionaries is brought to you by the Salesforce Platform - the #1 cloud platform for digital transformation of every experience. Build connected experiences, empower every employee, and deliver continuous innovation - with the customer at the center of everything you do. Learn more at salesforce.com/platform

    Wrong Metrics, Wrong Conclusions

    Wrong Metrics, Wrong Conclusions

    Sponsors

    OnPay: https://cloudaccountingpodcast.promo/onpay
    Client Hub: https://cloudaccountingpodcast.promo/clienthub
    Rewind: https://cloudaccountingpodcast.promo/rewind

    Need CPE? 

    Subscribe to the Earmark Accounting Podcast: https://podcast.earmarkcpe.com
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    Show Notes

    00:52 – Blake’s got a new Mac!

     

    02:27 – David’s Bank-Feed Debacle

     

    05:58 – The Threshold of Hell  – Watching National Lampoon’s Christmas Vacation?

     

    06:57 – Blake's Takeaways from Almost Inside Digital CPA

     

    08:46 – It’s Time to Get Rid of the IT Department              

    https://www.wsj.com/articles/get-rid-of-the-it-department-11637605133

     

    15:33 – The AICPA's Melancon: ‘The profession that constantly reinvents itself’ | Accounting Today

    https://www.accountingtoday.com/list/the-aicpas-melancon-the-profession-that-constantly-reinvents-itself

     

    19:35 – Accounting 4.0: Don’t become Blockbuster Video

    https://www.accountingtoday.com/opinion/accounting-industry-4-0-is-happening-dont-become-blockbuster-video

     

    22:45 – Are You Under-Pricing Your Client Accounting Services? - CPA Trendlines

    https://cpatrendlines.com/2021/10/21/are-you-under-pricing-your-client-accounting-services/

     

    29:49 – Voices Art of Accounting: Timesheet dispute redux | Accounting Today

    https://www.accountingtoday.com/opinion/art-of-accounting-timesheet-dispute-redux

     

    30:35 – A Timesheet Debate & Why Work Takes So Long

    https://podcast.earmarkcpe.com/episodes/the-great-timesheet-debate-with-ed-mendlowitz

     

    33:05 – Blake’s Timesheet Use Case

     

    35:35 – What Is a “Reasonable” Number of Work Hours? - CPA Trendlines

    https://cpatrendlines.com/2021/10/11/what-is-a-reasonable-number-of-work-hours/

     

    38:39 – New QuickBooks research reveals the impact of late payments on mid-sized businesses

    https://quickbooks.intuit.com/r/growing-complex-businesses/midsize-payments-research/

     

    44:08 – Majority of Mid-Sized Businesses Outgrow Technology or Overpay for Unused Features

    https://investors.intuit.com/news/news-details/2021/Majority-of-Mid-Sized-Businesses-Outgrow-Technology-or-Overpay-for-Unused-Features/default.aspx

     

    46:00 – Here’s How You Zoomed Over the Past Year - Zoom Blog

    https://blog.zoom.us/how-you-zoomed-over-the-past-year-2021/

     

    51:07 – H&R Block names Xero a preferred solution provider

    https://www.accountingtoday.com/news/h-r-block-names-xero-a-preferred-solution-provider

     

    51:22 – Twitter comment from Zachary Owen, re: H&R Block

    https://twitter.com/ZachJOwen/status/1469429680348479491

     

    52:37 – Canopy raises $35M in latest funding round | Accounting Today

    https://www.accountingtoday.com/news/canopy-raises-35m-in-latest-funding-round

     

    Canopy’s Accounting Practice Revolution Receives $35M Injection

    https://aithority.com/it-and-devops/cloud/canopys-accounting-practice-revolution-receives-35m-injection/

     

    53:51 – Intuit QuickBooks Canada and Dataswitcher join forces to automate conversion to a cloud-based accounting solution

    http://www.canadian-accountant.com/content/partner-posts/intuit-quickbooks-canada-and-dataswitcher-join-forces

     

    54:22 – Oracle Gains After Sales Top Estimates on Cloud Performance

    https://news.yahoo.com/oracle-gains-sales-top-estimates-215221263.html

     

    54:48 – FreshBooks, Sensibill Bolster Small Business Expense Management

    https://www.pymnts.com/smbs/2021/freshbooks-sensibill-bolster-small-business-expense-management/

     

    54:58 – Kabbage® from American Express Launches Kabbage Funding™ to Help Simplify Funding for U.S. Small Businesses

    https://www.businesswire.com/news/home/20211208005617/en/Kabbage%C2%AE-from-American-Express-Launches-Kabbage-Funding%E2%84%A2-to-Help-Simplify-Funding-for-U.S.-Small-Businetransactions

    55:16 – Accounts payable automation startup Tipalti raises $270M, quadruples valuation to $8.3B

    https://techcrunch.com/2021/12/08/accounts-payable-automation-startup-tipalti-raises-270m-quadruples-valuation-to-8-3b/

     

    55:35 – CPA funding portal expands with loan-financing option for small biz clients | Accounting Today

    https://www.accountingtoday.com/news/cpa-funding-portal-expands-with-loan-financing-option-for-small-biz-clients

     

    57:29 – Facebook Message from Cathy Volk – Thank you!
    https://business.facebook.com/CloudAccountingPodcast/inbox/

    Get in Touch

    Thanks for listening and for the great reviews! We appreciate you! Follow and tw...

    Kanadisches Unicorn Freshbooks übernimmt FastBill

    Kanadisches Unicorn Freshbooks übernimmt FastBill

    Interview mit René Maudrich, Co-Founder & CEO von FastBill

    In unserer Mittagsfolge begrüßen wir heute René Maudrich, Co-Founder & CEO von FastBill, mit dem wir u.a. über den Exit des deutschen Software-Anbieters durch Freshbooks sprechen.

    Das Startup aus Frankfurt FastBill begann vor 10 Jahren damit, eine Software für die papierlose Buchhaltung zu entwickeln. Die beiden Gründer René Maudrich und Christian Häfner und ihr 30-köpfiges Team erhielten lange nach der Gründung im Jahr 2011 erste Investorengelder. Zum Zeitpunkt der Übernahme soll Fastbill nach Angaben von René Maudrich einen „mittleren siebenstelligen Betrag“ umgesetzt haben.

    Jetzt wird das Frankfurter Startup durch das kanadische Unicorn Freshbooks übernommen. Freshbooks ist ein Anbieter für cloudbasierter Finanzsoftware und derzeit in über 160 Ländern vertreten. Auch in Deutschland ist das Unternehmen aktiv und bietet seinen Service in erster Linie Freelancerinnen und Freelancern sowie kleineren Dienstleisterinnen und Dienstleistern an. Das Unicorn sammelte zuletzt bei einer Finanzierungsrunde von Barclays und JP Morgan insgesamt 120 Millionen Dollar ein, wovon es einen Teil für Übernahmen verwenden kann. Gemeinsam mit FastBill sollen neue Plattformfunktionen entwickelt und in weitere Märkte expandiert werden.

    Wenn auch Du Dein Lieblingstool bewerten willst, schreibe eine Review auf OMR Reviews. Dafür erhältst du einen 20€ Amazon Gutschein. moin.omr.com/insider

    The One With Elizabeth Warren, Britney Spears, And Florida Man

    The One With Elizabeth Warren, Britney Spears, And Florida Man

    Sponsors

    Rippling: https://cloudaccountingpodcast.promo/rippling
    Dark Horse: https://cloudaccountingpodcast.promo/darkhorse
    Client Hub: https://cloudaccountingpodcast.promo/clienthub

    Show Notes

    1:27 – David is leaving the building ... On vacation!  

     

    1:52 – CAP Voicemail – Thank you, Jonathan Weiss! 

     

    Is it too hard to become a CPA? Practitioners speak out

    https://www.accountingtoday.com/news/is-it-too-hard-to-become-a-cpa-practitioners-speak-out

     

    5:50 – CPA firms lay out top issues in 2021 and beyond

    https://www.accountingtoday.com/opinion/cpa-firms-lay-out-top-issues-in-2021-and-beyond

     

    9:42 – Service levels hit new lows at swamped IRS

    https://www.accountingtoday.com/news/service-levels-hit-new-lows-at-swamped-irs

     

    11:28 – IRS didn’t spot $20.6M in bogus nonresident tax refunds

    https://www.accountingtoday.com/news/irs-didnt-spot-20-6m-in-bogus-nonresident-tax-refunds

     

    12:04 – Florida man filed 745 tax returns in 4 years, collecting $235K in bogus refunds — ‘I found a flaw in your system, and I took advantage of it’

    https://www.marketwatch.com/story/i-found-a-flaw-in-your-system-and-i-took-advantage-of-it-florida-man-filed-745-tax-returns-in-4-years-collecting-235k-in-bogus-refunds-11633540003

     

    15:58 – Sage buys proposal software vendor GoProposal

    https://www.enterprisetimes.co.uk/2021/10/05/sage-buys-proposal-software-vendor-goproposal/

     

    Sage buys U.K. proposal management software maker

    https://www.accountingtoday.com/news/sage-buys-uk-proposal-management-software-maker

     

    19:32 – Latest product news – October 2021 | Xero Blog

    https://www.xero.com/blog/2021/10/product-news-oct-2021/

     

    23:05 – FreshBooks Acquires FastBill to Boost Growth in Canada

    https://www.pymnts.com/news/partnerships-acquisitions/2021/freshbooks-acquires-fastbill-to-boost-growth-in-canada/

     

    24:24 – Google Drive Is Getting Labels for Your Files

    https://www.howtogeek.com/759458/google-drive-is-getting-labels-for-your-files/

     

    25:20 – Chargebee acquires RevLock

    https://www.accountingtoday.com/news/chargebee-acquires-revlock

     

    26:17 – Pipe launches trading platform for recurring revenue

    https://www.accountingtoday.com/news/pipe-launches-trading-platform-for-recurring-revenue

     

    30:05 – Hackers exploit MFA flaw to steal from 6,000 Coinbase customers

    https://cointelegraph.com/news/hackers-exploit-mfa-flaw-to-steal-from-6-000-coinbase-customers-report

     

    32:59 – Sage Intacct 2021 Release 3: What’s New?

    https://www.accttwo.com/blog/sage-intacct-2021-release-3-whats-new

     

    39:03 – Elizabeth Warren Shocked to Learn Big Public Accounting Firms Do Shady Sh*t

    https://www.goingconcern.com/elizabeth-warren-shocked-to-learn-big-public-accounting-firms-do-shady-sht/

     

    40:58 – The tax agency would like to look at your financial transactions above $600. What could go wrong?

    https://www.wsj.com/articles/internal-revenue-service-irs-rettig-yellen-brady-bank-account-tax-proposal-revenue-privacy-data-breach-11633287461

     

    41:55 – Democrats eye narrowing Biden plan on bank reporting to IRS

    https://www.accountingtoday.com/articles/democrats-eye-narrowing-biden-plan-on-bank-reporting-to-irs

     

    Banks enlist customers to kill Biden’s account data reporting plan

    https://www.accountingtoday.com/articles/banks-enlist-customers-to-kill-bidens-account-data-reporting-plan

     

    45:06 – Adios, David – Enjoy Cancun! 

     

    46:23 – Who Is John Zabel? Britney Spears' New Conservator Takes Over From Jamie Spears

    https://www.yourtango.com/news/who-is-john-zabel-britney-spears-new-conservator

     

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    Get in Touch

    Thanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040

    Need Accounting Conference Info? 

    Startup Insider Daily • Sorare • Snapchat • Twitter • Freshbooks • NFTs • Tesla • First A • E-Autos • E-Commerce

    Startup Insider Daily • Sorare • Snapchat • Twitter • Freshbooks • NFTs • Tesla • First A • E-Autos • E-Commerce

    Der tägliche Nachrichten-Podcast der deutschen Startup-Szene

    Heute u.a. mit folgenden Nachrichten:

    • Bundesjustizministerin Christine Lambrecht möchte Soziale Netzwerke stärker regulieren
    • Neues Gründerzentrum für den Mittelstand von Susanne Klatten
    • Snapchat bleibt bei US-Teens der Favorit
    • E-Commerce mit stärkstem Wachstum im dritten Quartal seit 2017
    • Twitter verkauft seinen MoPub
    • First A, ein neuer Schnell-Lieferdienst für Arzneimittel, gewinnt einen der Gorillas-Gründer als Investoren
    • Freshbooks übernimmt Fastbill
    • Fußball-Bundesliga erhält Blockchain-Sammelbilder bei Sorare
    • NFTs brechen erneut alle Rekorde

    Heute begrüßen wir Daniel Wild, CEO bei Mountain Alliance, der den abgesagten Börsengang von Chronext analysiert.

    Myth Buster: FreshBooks’ Paul Cowan Debunks the Single-Source-of-Truth Myth

    Myth Buster: FreshBooks’ Paul Cowan Debunks the Single-Source-of-Truth Myth

    There’s a notion among marketers that the way to provide the best customer experience is to have the richest data. After all, to CMOs and most modern marketers, data is basically the key to unlocking customer success. But to provide those marquee customer experiences, there’s a myth swirling around that the only way to have success is if all your data sets live in one place. You need the mythical “single source of truth.” But is a single source of truth actually attainable in today’s oversaturated martech ecosystem? Paul Cowan is the CMO of FreshBooks, and he isn’t so sure.

    “Having a single source of truth is next to impossible. I haven't been in any organization where anybody said, ‘Man, our data is in a perfect state. Here it is. Here's our 360 view of the customer. We're done, clap your hands and walk away.’ That doesn't exist. You need to have your single source of truth in terms of what you believe success looks like, and everybody's aligned to that...But I think being able to have that 360 view of the customer is the hard part.”

    Having a better understanding of who your customers are is something all marketers are striving for today, and it’s something that Paul and his team are working toward. But while a single source of truth might not be attainable, there are avenues to create a clearer picture to work with. On this episode of Marketing Trends, Paul joined me for a fun conversation covering a host of topics, including what it will mean to build FreshBooks’ data strategy to target an SMB market in dire need of reliable insights. Paul and I also discussed how FreshBooks reorganized its marketing department to eliminate siloed segments, and why the best marketers need to have an understanding of their sales counterparts. Enjoy! 

    Main Takeaways

    • Do you Understand Where I’m Coming From?: In order for marketing and sales to have true alignment, both departments must have a clear understanding of the pain points that the other is experiencing. When marketing is under the direction of sales, it does not work. And when marketers don’t have a clear understanding of the sales process, there tends to be miscommunication. If you want true alignment between both, marketers and sales individuals must understand the roles of the other.
    • Tension Builds Success: Healthy tension between sales and marketing is okay, as long as that tension is focused on building the overall relationship and strength of the brand. When there is tension between the two departments, it keeps both parties on their toes and responsive to the other. When those lines of communication are closed, there’s more room for complacency.
    • Sources Say: The idea of a single source of truth for your data might be unrealistic, but it doesn’t mean that you can’t harness your first-party data to create a clearer picture of your target audience. A single source of truth should be about understanding the value of your datasets, but also understanding the best way to use your data.

    ---

    Marketing Trends podcast is brought to you by Salesforce. Discover marketing built on the world’s number one CRM: Salesforce. Put your customer at the center of every interaction. Automate engagement with each customer. And build your marketing strategy around the entire customer journey. Salesforce. We bring marketing and engagement together. Learn more at salesforce.com/marketing

    To learn more or subscribe to our weekly newsletter, visit MarketingTrends.com.

    How Deloitte Created A Marvel Hero

    How Deloitte Created A Marvel Hero

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    Show Notes

    5:59 – Here’s why small-business kingpin Intuit is buying Mailchimp for $12B

    https://www.fastcompany.com/90675994/intuit-mailchimp-acquisition

     

    6:11 – Intuit in talks to buy Mailchimp for more than $10B

    https://www.accountingtoday.com/articles/intuit-in-talks-to-buy-mailchimp-for-more-than-10b

     

    13:35 – Xero Tax: Personal tax is now live

    https://www.xero.com/blog/2021/08/personal-tax-live/

     

    16:10 – Xero iOS app update – You can reconcile spend and receive transactions at the same time when doing find and match – WOOT! 

     

    Xero Blog – Latest product news – September 2021

    https://www.xero.com/blog/2021/09/product-news-sept-2021/

     

    19:30 – Apple announces first states signed up to adopt driver’s licenses and state IDs in Apple Wallet

    https://www.apple.com/newsroom/2021/09/apple-announces-first-states-to-adopt-drivers-licenses-and-state-ids-in-wallet/

     

    21:10 – Neat introduces NeatBooks and NeatInvoices

    https://www.accountingtoday.com/news/neat-introduces-neatbooks-and-neatinvoices

     

    27:16 – New & Improved in FreshBooks: Team Cost Rates, Project Profitability, and More

    https://www.freshbooks.com/blog/product-updates-august-2021

     

    28:03 – Square to launch a new paid subscription, Invoices Plus

    https://techcrunch.com/2021/08/30/square-to-launch-a-new-paid-subscription-invoices-plus/

     

    30:00 – Vic.ai, an AI-powered accounting automation platform, raises $50M

    https://venturebeat.com/2021/09/01/vic-ai-an-ai-powered-accounting-automation-platform-raises-50m/

     

    35:08 – Watch Google’s Super-powered AI Turn Pixelated Photos into Hi-res

    https://www.inputmag.com/tech/googles-ai-photo-upscaling-tool-borders-on-science-fiction

     

    Google’s New AI Photo Upscaling Tech is Jaw-Dropping

    https://petapixel.com/2021/08/30/googles-new-ai-photo-upscaling-tech-is-jaw-dropping/

     

    37:25 – Canopy integrates with QuickBooks Online

    https://www.accountingtoday.com/news/canopy-integrates-with-quickbooks-online

     

    38:40 – Baker Tilly to acquire accounting tech services company

    https://www.accountingtoday.com/news/baker-tilly-to-acquire-accounting-tech-services-company-accttwo

     

    40:48 – Another Exodus of NCR Employees and NCR Reportedly Kills Aloha Nextgen POS

    https://reformingretail.com/index.php/2021/08/31/another-exodus-of-ncr-employees-and-ncr-reportedly-kills-aloha-nextgen-pos/

     

    42:24 – IRS adds address change capability to Child Tax Credit portal

    https://www.accountingtoday.com/news/irs-adds-change-of-address-capability-to-child-tax-credit-portal

     

    43:11 – Plaid CTO: Banks, FinTechs Must Turn ‘Transaction Data Mosaic’ Into Cohesive Service Offering

    https://www.pymnts.com/digital-first-banking/2021/plaid-cto-banks-fintechs-must-turn-transaction-data-mosaic-into-cohesive-service-offering/

     

    46:20 – Even a Marvel Superhero Knows How Horrible Working at a Big 4 Firm Can Be

    https://www.goingconcern.com/even-a-marvel-superhero-knows-how-horrible-working-at-a-big-4-firm-can-be/

     

    50:07 – The Accountant 2 Is a Done Deal, Ben Affleck & Jon Bernthal Will Both Return

    https://www.imdb.com/news/ni63411978

     

    52:00 – Feedback from you, our excellent listeners! Thank you! 


    Get in Touch

    Thanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040

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    Alright, Alright, Alright

    Alright, Alright, Alright

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    Show Notes

    2:00 – A rundown of our visit to AICPA Engage in Vegas, plus news on some other upcoming events. You can find out more about the latest, greatest accounting conferences here: https://accountingconferences.com

     

    12:00 – SBA Announces Opening of Paycheck Protection Program Direct Forgiveness Portal

    https://www.sba.gov/article/2021/jul/28/sba-announces-opening-paycheck-protection-program-direct-forgiveness-portal

     

    12:17 – Small Business Administration to Revamp PPP Forgiveness in Bid to End Historic Program

    https://www.politico.com/news/2021/07/27/paycheck-protection-program-ending-501046

     

    13:49 – Nearly 500 taxpayers had over $150M in their IRAs

    https://www.accountingtoday.com/news/nearly-500-taxpayers-had-over-150m-in-their-iras

     

    16:53 – New IRA product allows for tax-free Bitcoin mining

    https://www.accountingtoday.com/articles/new-ira-product-allows-for-tax-free-bitcoin-mining

     

    21:02 – Fed's Brainard: Can't wrap head around not having U.S. central bank digital currency

    https://reut.rs/3ygDh7S

     

    23:10 – Tether Executives Said to Face Criminal Probe into Bank Fraud

    https://www.bloomberg.com/news/articles/2021-07-26/tether-executives-said-to-face-criminal-probe-into-bank-fraud

     

    24:40 – 74% of Consumers Prefer Texting with Businesses if a Real Person is Texting Back

    https://smallbiztrends.com/2021/07/customers-prefer-texting-business-real-people.html

     

    27:16 – Small businesses face bookkeeping challenges, overdue invoices during pandemic

    https://www.accountingtoday.com/news/small-businesses-face-bookkeeping-challenges-overdue-invoices-during-pandemic

     

    32:17 – It doesn’t fucking matter

    https://medium.com/@thedannorris/it-doesnt-fucking-matter-391a399c7caa

     

    40:11 – Homebase raises $71M for a team management platform aimed at SMBs and their hourly workers – TechCrunch

    https://techcrunch.com/2021/07/29/homebase-raises-71m-for-a-team-management-platform-aimed-at-smbs-and-their-hourly-workers/

     

    43:40 – Xero says accounting software users were locked out by login glitch, not nefarious deeds

    https://www.theregister.com/2021/07/28/xero_login_glitch_resolved/

     

    45:42 – New & Improved in FreshBooks: Advanced Client Search, KeyPay Payroll, and More

    https://www.freshbooks.com/blog/product-updates-july-2021

     

    46:40 – Sage Q3 2021 Results

    https://www.sage.com/investors/financial-information/results/

     

    47:41 – Introducing Zoom Apps: Use the Apps You Love, Right in Zoom

    https://blog.zoom.us/start-using-zoom-apps/

     

    48:47 – PandaDoc for Zoom

    https://marketplace.zoom.us/apps/hHK3qVpjTCycz2xXS249gA

     

    50:22 – Summit invests $215M into Odoo, an open-source business management software developer, at a $2.3B+ valuation

    https://techcrunch.com/2021/07/29/summit-invests-215m-into-odoo-an-open-source-business-management-software-developer-at-a-2-3b-valuation/

     

    51:12 – We’ve Got Reviews! Thanks, Smackramen, and Brianqzo! 

    Get in Touch

    Thanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040

    Need Accounting Conference Info? 

    Check out our new website - accountingconferences.com


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    Tech Evolution with Sanjay Parekh

    Tech Evolution with Sanjay Parekh

    If your business ideas have ever been more of an airball than a total slam dunk, take heart: you are not alone. Sanjay Parekh is known for being ahead of the game as an entrepreneur, but even he’s had off-days. Take Pizza Impulse, his idea for pizza delivery that relied on random demand, random supply, and push messaging. His sales total on that project was a whopping two pizza pies. “There have been stinkers like that over time, but with the stinkers, you learn a lot,” he laughs. 

    Of course, you don’t know Sanjay because he’s a failed pizza emperor: you know him as the head of Mirage Data, a start-up that protects your data without sacrificing usability, as well as a founder of TogetherLetters. In his past, he co-founded Digital Envoy and Prototype Prime, and ran events like 2015’s Startup Riot. He’s also a host of Tech Talk Y’All, a biweekly comedy tech podcast. Is there anything this guy can’t do? (Besides running a pizza company...but we’ll forgive him for that.)

    Like many entrepreneurs, Sanjay got his start in middle school. He was a candy-bar broker: buying piles of the sweet stuff and then selling to his peers. “If you ask a room of 100 entrepreneurs, more than 50 of them will say they did something like that.” He turned his early earnings into comic books, some of which he still has today.

    In 1999, after graduating from Georgia Tech, Sanjay had an idea that would “make the internet better.” He noticed that the FedEx and IKEA websites were still relying on customers to select their countries before they could begin shopping, but suspected there was a tech workout-around that would smooth out that step. At work the next day, his colleague told him, “It’s either impossible to do, or somebody’s already done it,” but nope: Sanjay found that it was possible and he was first. Digital Envoy was born of this idea, and Sanjay left that colleague behind in 2000. Digital Envoy raised 1.5M in 2000, and 10.5M the following year; selling that first company in 2007 has let Sanjay “continue on this crazy entrepreneurial journey ever since then.”

    A lot has changed since those heady early-internet days, and Sanjay isn’t nostalgic. For one, “You didn’t have the infrastructure stuff that we have now. You don’t need to buy servers. You don’t need to buy storage space.” While Sanjay’s early tech needs often gobbled up his large investments, “A lot of companies are able to start now without having to raise much money or any money at all.” Folks can now get in without huge initial investments, relying on quick, cheap, and global solutions like the cloud. 

    Being a tech-minded entrepreneur hasn’t always been champagne and gala events. Holding patents means that Sanjay has had to sit through “excruciating” sessions in order to explain the nitty-gritty of his products, but doing so “builds a moat to protect the company.” He doesn’t go for the NDA mindset—Sanjay figures that, with seven billion people on the planet, someone else probably has the same idea as him, somewhere—and he says that talking about his ideas is one way of finding out who else is solving that problem, or even why the problem can’t be solved in the first place. 

    He extends that philosophy to the way he approaches all his projects. “You’ve gotta become an extrovert when you’re an entrepreneur, at least in terms of business.” He credits his relationships with strengthening his business: from loyal connections to getting the support staff on board, and from funding events, to board service, relationships are where “good things happen” as an entrepreneur. Where are your best connections?

    A Fearless Future with Rebecca Minkoff

    A Fearless Future with Rebecca Minkoff

    For Jewish girls, the bat mitzvah is a pivotal moment of becoming a young adult and joining the adult community. For Rebecca Minkoff, who had been designing and sewing clothes since she was eight years old, the celebration was also a chance to showcase her fashion skills—and her “newly budding rack.” Pulling inspiration from the 1700s (think Bridgerton), Rebecca designed a square-necked, Empire-waist number that checked her boxes (and her parents made sure it stayed PG-13). For Rebecca, this was a foundational step in the lifelong process of becoming a fashion mogul. Now, in 2021, Rebecca Minkoff has flagship stores in LA, Hong Kong and New York City, among others; she’s also distributed by more than 900 companies worldwide. 

    While Rebecca has enjoyed early boosts to her brand—Jenna Elfman wore her “I Love New York” shirt on The Jay Leno Show in 2001—Rebecca has also worked hard to cultivate her business’s profile. For example, when she launched the Morning After Bag (also known as the M.A.B.) in 2005, she leveraged her industry connections, working relationships with Hollywood agents and stylists to ensure that the highly photographed celebrities of the early aughts all had a Rebecca Minkoff bag on their arm. 

    But getting there wasn’t easy: she’s navigated debts, doubts, and setbacks along the way. For example, Rebecca tells us she was once fired from a job after the CEO pulled her aside and told her that  if she didn’t start channelling the passion she was putting into her own side hustle into the CEO’s fashion business, she’d be let go. Rebecca countered with, “I don’t honestly think I can do that.” At the time, Rebecca had small collections in only a handful of New York City stores, but her dedication to her own vision meant letting go of her main gig. “There was no safety net,” she recalls. Rebecca has since been in the CEO’s position, and she’s made the same tough call. “When you’re half-assing two things, you’ll never be able to fully focus on either.”

    When the M.A.B. took off, Rebecca sensed her company’s reputation was starting to hinge on a single product. So she quickly escalated production on a range of offerings, from jewelry to clothing. “We knew we wanted to be a lifestyle brand, and the only way to do that was to go full-force and launch these other categories.” Her company president at the time was from the apparel world, and Rebecca herself had experience with women’s clothing design. She also brought on a shoe expert who could take them from design to manufacture. “We kept finding best-of-breed partners.” Unwilling to do a licensing agreement, she entered into manufacturing agreements—very normal in fashion—and she encourages people to explore different types of partnerships for themselves in their own businesses. 

    One of her most important partnerships is with her brother, who joined the company full-time in 2011. He had loaned her seed money for M.A.B. launch years earlier, and their partnership over the years has had ups and downs. Rebecca tells us that when things get really intense, she and Uri “hired a business mediator to help us when we get those critical impasses:” someone to “unsnarl the tangles” when the business and personal relationships become complicated. 

    Since 2018, Rebecca has also been channelling her creative leadership energy into the Female Founder Collective, a network for female business owners that offers education and resources. She’s also recently published a book, Fearless, that walks readers through her 21 steps for bravery in the face of business uncertainty. “My goal with the book is to throw out the rules: know you’re going to be scared, but do those things anyway.” She knows, from long personal experience, that taking risks is not a fearless endeavor, but moving through fear is a key step for success.

    Resources

    To learn more about our guest, go to https://www.rebeccaminkoff.com/

    To learn more about FreshBooks and take advantage of an offer exclusive to our podcast listeners, go to freshbooks.com/podcast 

    Follow us on social @freshbooks, and remember to subscribe to get the latest episodes as soon as they become available!

    The Founder Of FreshBooks.com Shares Lessons From Scaling To Over 24 Million Users

    The Founder Of FreshBooks.com Shares Lessons From Scaling To Over 24 Million Users

    Mike McDerment founded FreshBooks.com because he saw the need for a better solution to invoicing clients. In this episode, he shares the importance of culture and values in growing a global powerhouse.

    Company culture is a loose concept that is not easy to precisely describe, but according to Mike, it is the difference between a successful company and one that is destined to ebb away. It is the X-factor that gets stuff done.

    Culture is the invisible thing in any company. It is what you do when no one is looking. You may ask why this is important to the success of an organization, but as Mike explains in this episode, it really impacts all aspects of the company.

    To cultivate a strong company culture, you have to start by figuring out what your values are. These values then serve as the reference point to guide the behavior of everybody in the team.

    Tune in to learn why culture is so valuable to a company and how to cultivate it and sustain it as you scale.

    Key Takeaways

    - Mike’s entrepreneurial journey and early lessons (01:15)

    - Why culture is the X-factor that determines the success of a business (08:23)

    - Actively cultivating culture in an organization (10:12)

    - How Mike handled imposter syndrome (12:03)

    -Handling the capital needs of a growing tech company (15:19)

    - The leading indicator of what will happen next to a company (21:16)

    - Mistakes Mike has made along the way (21:54)

    - Personal growth secrets for entrepreneurs (23:37)

    -What’s on Mike’s bucket list (25:44)

    Additional Resources

    Learn more about Freshbooks here: https://www.freshbooks.com/

    -----

    You can find the transcripts and more at http://bizninjaradio.com

    Be sure to follow me on Instagram @bizninja

     

    WJR Business Beat with Jeff Sloan: Entrepreneurship and Mental Health Issues (Episode 240)

    WJR Business Beat with Jeff Sloan: Entrepreneurship and Mental Health Issues (Episode 240)

    On today's Business Beat, Jeff discusses findings from Freshbooks' latest Self-Employed Mental Health Report, which reveals that 49% of those surveyed said their mental health conditions left them with a loss of energy and difficulty focusing on their business during the tumultuous year that was 2020.

    Tune in to the Business Beat to learn more about how impactful mental health issues were this past year as well as ways to rebound post-pandemic.

    Growing a Business on Social Media with Nai, aka LABeautyologist

    Growing a Business on Social Media with Nai, aka LABeautyologist

    Nai Roberts-Smith might be the mega-popular skincare expert labeautyologist these days, but like many entrepreneurs, she started in a dorm room. She was an amateur nail technician, complete with a wall of polish colours, and she would do nails for less than the price of lunch. “I had a group of friends who all did beauty services,” she says a barber, a few pals who did hair, and a league of friends acting as low-key brand ambassadors across campus. 

    When she left college, she joined a salon as a nail tech but has aspirations of becoming an esthetician—a licensed professional who does facials and other skin-care treatments, usually at a spa. “I was good at nails, I liked doing it, and I felt kind of stifled by that.” But her hometown shop was full of estheticians, and they were unwilling to add Nai to their roster. She debated bringing her skills onboard cruise ships before realizing she would likely find work anywhere that was beautiful—Jamaica, Hawaii, Miami, or her new hometown, Los Angeles.

    In LA, Nai was “broke,” but she knew the demand was there: she could stand on a busy street corner and see three spas on a single block. As she launched her business, she made a strategic decision to grow her social media presence as well. “I knew I had to reach people who weren’t just right in front of me.” She launched her YouTube channel as soon as she moved to LA. “Being on social media has completely advanced and changed my career trajectory;” she now has almost a half-million subscribers. 

    Sometimes entrepreneurs get tripped up on how to translate online impressions to actual sales, but Nai has a knack for it. When she started, Nai would demo her treatments on Twitter and YouTube and encouraged LA locals to book in with her; at the time, 45% of her clients came from that sales funnel. She examined her analytics for out-of-town interest—like the viewers watching from Atlanta and New York—and headed to those cities for pop-up skincare treatments. “Fifteen people made it worth the trip,” especially after she factored in word-of-mouth promotion and local hype. 

    It might seem counterintuitive to give away knowledge that she could be charging for, but Nai says it’s actually a sales driver when she does. Maya Elious taught Nai that if she wasn’t able to give away her knowledge for free, “you’re not even knowledgeable enough to be an expert in what it is you’re doing.” Nai estimates that, though she’s shared plenty across various platforms over the last five years, it only represents about 10% of her body of expertise, and her interactions with fans and clients make the trade-off worth it. 

    She’s also a master of the thoughtful pivot. When COVID forced her to shutter her spa last summer, her collaborations with brands like Fenty and Target became much more important. She also launched her own line of merch, a spa-inspired line of garments including robes, turbans, and scrunchies. “I’m still talking to the same people.” Her third line of defence against COVID losses was launching a virtual consulting stream. 

    Nai sees herself as filling an important gap in esthetics: as a darker-skinned Black woman, she brings knowledge about melanated skin and its unique needs to an industry that doesn’t always cater to them. “When I went to esthetics school, there were very few women of colour who went to the school.” Working with different skin tones and types is a key factor in successful treatments, and Nai says, “I felt like my presence made the other estheticians better.” Through some of her content and partnerships, she’s started filling the gaps in esthetic’s typical service and knowledge. “I’m here to talk to people who weren’t spoken to before.” 

    Resources

    To learn more about our guest, go to http://labeautyologist.com

    To learn more about FreshBooks and take advantage of an offer exclusive to our podcast listeners, go to freshbooks.com/podcast 

    Follow us on social @freshbooks, and remember to subscribe to get the latest episodes as soon as they become available!

    Nerdisode #1- Bryan Clayton

    Nerdisode #1- Bryan Clayton

    Bryan Clayton, CEO and Founder of GreenPal and small-business mentor, gives his five best ideas for entrepreneurs and small-business owners:

    1. Bake in your marketing strategies from the earliest days of your business and plan on getting your solution out to your customers.
       
    2. Spend time experimenting with marketing techniques, from organic SEO to social media channels, and figure out what works best for you.
       
    3. Be honest: are people willing to pay for what you’re doing? Are they coming back for more?
       
    4. Be impressive to potential mentors: show them your hustle and how far you’ve come!
       
    5. Tune into passive mentorships like YouTube channels and (ahem) podcasts for key insights from your favourite thought leaders. Only take advice from folks who have been where you’re going! 

    Treat Your Business Like a Video Game- Bryan Clayton

    Treat Your Business Like a Video Game- Bryan Clayton

    In 1998, Bryan Clayton was one more 18 year old with a lawnmower, keeping his neighbour’s outdoor spaces nice and tidy. His marketing strategy wasn’t much more than a photocopied flyer. But over the next 15 years, his landscaping business—by then called Peach Tree—took on major corporate clients and grew to employ over 150 people and bring in more than $10M annually. 

    But going big meant that they were leaving behind the little guys. Peach Tree was past the point of taking on $30 homeowner jobs, but frequent calls from potential clients proved the demand still existed. Taking inspiration from Uber, Lyft, and Airbnb, his app GreenPal was designed to connect customers with lawn care companies who operate on a smaller scale.

    GreenPal’s business has doubled every year in the last eight years. His initial value proposition has stayed mostly the same—referring customers to companies—but 300,00 people use the app, and he’s bringing in $20M in revenue each year. By cutting out the legwork of researching company names and reviews, organizing payment, and setting up a lawn care schedule, the app goes way beyond the typical “neighbour kid with a lawnmower” set-up and ties up loose ends for both customers and the companies they work with.  

    That’s not to say the early days weren’t tough, but never underestimate how far a little naivete can take you. “If I had known how hard it was going to be, I would have gotten scared and never started,” Clayton laughs about the app’s early days. With two co-founders and no one knowing how to code, they put $150K into the first version of GreenPal, and it was...a failure! The next three years were spent supercharging their tech skills and developing a robust customer service feedback loop that continues to this day. When they relaunched, the grass was indeed greener on the other side. 

    It also helped that Clayton’s partners were well-chosen thick-and-thin types, a relationship that he compares to a marriage. One of our listeners, Gabby from Austin, asks about the value of a co-founder, and Clayton recommends careful consideration. “Don’t just go get a co-founder because you think you have to,” he says. Though there is start-up wisdom behind having both the hustler and the hacker on your team, Clayton reminds us that a co-founder partnership may last longer than some marriages (and be messier to dissolve if the day ever comes). 

    They keep themselves default alive, so their profits don't outweigh business expenses, and they keep their burn rate low. Taking a practical, sustainable, slow-and-low approach—which he recommends for nearly all small businesses—meant that they could keep going when things get tough. GreenPal also inadvertently tapped into our society's “contactless” needs during a pandemic, a consumer mode that people now use for everything from clothing to groceries.

    Clayton credits his personal and business growth with a surprising Super Mario mindset. “Look at your business like a video game,” he says. “You only have to beat level one, throw up the flag, and get through a level at a time.” By focusing on just one or two key things at a time, Clayton says, entrepreneurs can be heroic about setting goals and moving their businesses forward. “I really wanted to make something of myself, and I felt like business was the vehicle for me to do that.” 

    Resources

    To learn more about our guest, go to: https://www.yourgreenpal.com/

    To learn more about FreshBooks and take advantage of an offer exclusive to our podcast listeners, go to freshbooks.com/podcast 

    Follow us on social @freshbooks, and remember to subscribe to get the latest episodes as soon as they become available!

    AICPA Calls For SBA To Change Unfair PPP Guidance

    AICPA Calls For SBA To Change Unfair PPP Guidance

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    Show Notes

    2:30 - Cryptocurrency Buys Are Not Reportable To The IRS

    https://www.cointracker.io/blog/cryptocurrency-buys-are-not-reportable-to-the-irs

     

    7:29 - What’s in the $1.9T stimulus bill passed by the Senate

    https://www.accountingtoday.com/articles/whats-in-the-1-9t-stimulus-bill-passed-by-the-senate

     

    13:47 - AICPA calls on SBA to change 'unfair' PPP guidance, deadline

    https://www.journalofaccountancy.com/news/2021/mar/aicpa-calls-on-sba-to-change-unfair-ppp-guidance-deadline.html

     

    16:05 - AICPA urges delay in tax deadline until June 15

    https://www.accountingtoday.com/news/aicpa-urges-delay-in-tax-deadline-until-june-15

     

    19:42 - FreshBooks, Salt Edge Team On Open Banking Tech

    https://www.pymnts.com/news/b2b-payments/2021/freshbooks-teams-with-salt-edge-smb-open-banking-tech/

     

    20:22 - QuickBooks launches all-new Business Account https://www.techradar.com/uk/news/quickbooks-launches-a-new-business-account-powered-by-fintech-modulr

     

    20:36 - QuickBooks gets all Modulr with new business accounts  https://www.enterprisetimes.co.uk/2021/03/03/quickbooks-gets-all-modulr-with-new-business-accounts/

     

    21:44 - Xero to buy Planday

    https://www.accountingtoday.com/news/xero-to-buy-planday

     

    25:33 – Why we’re securing your account with Multi-Factor Authentication

    https://www.xero.com/blog/2021/03/introducing-xero-verify/

     

    Xero – Further Reading 

     

    https://www.planday.com/

     

    Xero to acquire Planday to simplify workforce management and compliance https://www.xero.com/blog/2021/03/xero-to-acquire-planday/

     

    Xero steps into workforce management space with $285m dealhttps://www.smh.com.au/business/small-business/xero-steps-into-workforce-management-space-with-285m-deal-20210304-p577s8.html

     

    Xero buys Planday: Accounting software firms biggest ever deal creates four growth optionshttps://www.afr.com/chanticleer/xero-s-biggest-ever-deal-creates-four-growth-options-20210304-p577q6

     

    What our new multi-factor authentication process means for Aussie customers https://www.xero.com/blog/2021/03/mfa-what-it-means-for-au-customers/

     

    A message from Anna Curzon: What the Planday acquisition means for you https://www.xero.com/blog/2021/03/what-the-planday-acquisition-means-for-you/ 

     

    28:06 - Countingup closes £9.1M for its business current account with built-in accounting features 

    https://techcrunch.com/2021/03/04/countingup-series-a/

     

    29:33 - Square acquires majority of Tidal, Jay-Z’s streaming service, in $297 million deal.

    https://www.nytimes.com/2021/03/04/business/media/tidal-square-jay-z-dorsey.html

     

    34:42 - The Robots Are Coming for Phil in Accounting - The New York Timeshttps://www.nytimes.com/2021/03/06/business/the-robots-are-coming-for-phil-in-accounting.html

     

    ​42:37 - Burger Restaurant Renames Menu So You Can Expense Items

    https://www.ladbible.com/news/food-burger-restaurant-renames-menu-so-you-can-expense-items-20210221

     

    43:54 - Indoor marijuana grower keeps strict schedule to maximize output, avoid bottlenecks

    https://mjbizdaily.com/indoor-marijuana-grower-schedule-maximizes-output-and-avoids-bottlenecks/


    Get in Touch

    Thanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040

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    Show Notes

    02:30 – Blake’s take on craptastic TikTok tax advice

    https://www.cloudaccountingpodcast.com/213

     

    03:08 - How the word 'accountant' became synonymous with sex workers, strippers, and OnlyFans creators on TikTok

    https://www.insider.com/what-is-a-tiktok-accountant-meaning-meme-2021-2

     

    04:38 – Rocky Paterra – I’m an Accountant 

    https://www.youtube.com/watch?v=yNLNHzjeSd8

     

    09:58 - TransferWise Rebrands To Wise 

    https://www.pymnts.com/news/cross-border-commerce/cross-border-payments/2021/transferwise-rebrands-to-wise/

     

    10:25 - Receipt Bank is Now Dext

    https://www.accountingweb.com/technology/accounting-software-news/receipt-bank-is-now-dext

     

    11:07 - Welcome to Dext - Dext

    https://dext.com/us/blog/welcome-to-dext

     

    Dext Product FAQs – Dext 

    https://help.receipt-bank.com/hc/en-us/articles/360017865657-Dext-Product-FAQs

     

    14:47 - White House will give small firms two-week exclusive PPP access

    https://www.accountingtoday.com/articles/white-house-will-give-small-firms-two-week-exclusive-ppp-access

     

    16:07 - Fraud Checks and Errors Slow Small-Business Relief Loans

    https://www.nytimes.com/2021/02/22/business/paycheck-protection-program-small-business-coronavirus.html?referringSource=articleShare

     

    17:58 - Which States Are Taxing Forgiven PPP Loans?

    https://taxfoundation.org/state-tax-forgiven-ppp-loans/

     

    20:42 - Federal Reserve Financial-Services Systems Disrupted for Hourhttps://www.wsj.com/articles/federal-reserve-reports-several-business-lines-disrupted-by-operational-error-11614194912


    Rare Outage Takes Fed Payment Systems Offline
    https://www.cfo.com/credit/2021/02/rare-outage-takes-fed-payment-systems-offline/

      

    21:30 - Yellen sounds warning about 'extremely inefficient' bitcoin

    https://www.cnbc.com/2021/02/22/yellen-sounds-warning-about-extremely-inefficient-bitcoin.html

     

    21:59 – CAP Crypto Update episode 

    https://www.cloudaccountingpodcast.com/bonus214

     

    23:33 - Bitcoin’s Value Is All in the Eye of the ‘Bithodler’

    https://www.wsj.com/articles/bitcoins-value-is-all-in-the-eye-of-the-bithodler-11613826002

     

    25:03 - Companies investing in crypto may be in for a rude accounting surprise https://www.accountingtoday.com/news/companies-investing-in-crypto-may-be-in-for-a-rude-accounting-surprise

     

    27:53 - Intuit's Q2 revenue declines due to later tax season 

    https://www.zdnet.com/article/intuits-q2-revenue-declines-due-to-later-tax-season/

     

    28:21 - Square Doubles Down On Bitcoin; Posts Solid Q4https://www.pymnts.com/earnings/2021/square-doubles-down-on-bitcoin-generates-1-7-billion-in-crypto-revenue/

     

    29:06 - More than half of Square’s revenue now comes from bitcoin tradinghttps://www.paymentssource.com/news/more-than-half-of-squares-revenue-now-comes-from-bitcoin-trading

     

    33:03 - What’s new in QuickBooks Online – February 2021

    https://quickbooks.intuit.com/blog/whats-new/whats-new-in-quickbooks-online-february-2021/

     

    35:26 - Help grow your small business with Venmo: Business profiles are officially available for all sellers 

    http://blog.venmo.com/hf2t3h4x98p5e13z82pl8j66ngcmry/2021/2/24/help-grow-your-small-business-with-venmo-business-profiles-are-officially-available-for-all-sellers

     

    38:02 - Latest product news – March 2021

    https://www.xero.com/blog/2021/03/latest-product-news-march-2021/

     

    40:12 - New & Improved in FreshBooks: Accounts Payable Aging Report, Credits, and More

    https://www.freshbooks.com/blog/product-updates-february-2021

     

    41:35 - ADP Launches 'Roll™ by ADP®' Mobile App, a Completely Reimagined Way for Small Businesses to Do Payroll

    https://www.prnewswire.com/news-releases/adp-launches-roll-by-adp-mobile-app-a-completely-reimagined-way-for-small-businesses-to-do-payroll-301235154.html

     

    45:35 - Affirm Launching Buy Now, Pay Later Debit Card