And then when I sat together and thought, “Which customer problem do I want to address?” The part of it was building financial analytics was the first problem that I thought. I don’t know if you know whois.com. For businesses. in this sector of business that we are in patience is a big deal. But more importantly, great set of people, probably top notch customer service. Well, every time it shows up on my accounting software, I see their expenses. I’m checking it out. . The Online Indian Yellow Pages, Search Engine to find local businesses by Product, Services with Ratings/Reviews. You thought, “If we acquire them, as soon as somebody gets close enough to need an accountant, we want to jump in there, talk to them and let them know that when they are ready to hit that mark, we got software that’s part of LessAccounting, natural transition.” That’s what you were thinking. . I want to pay you to build a chat bot.” We’ll say, “Well, we’ll take the money but then we’ll pass it on to one of our graduates and have the graduate do the bot.” Let me ask you this. They talked to me about, how should I open mail and see now that I have it and it’s up and running and I want my books done or I want my payroll run,” we’re sure that we’re going to get that first caller a first chance to service them. The whole of the cycle lasted probably six to eight months overall. The Great Gambler. Two, I’m 100% sure you’re more comfortable being on camera. There’s a URL where you can try one of the chat bots so you can see what it’s like to get messages from us and what it would be like if you created a similar campaign for yourself. . I had a preferred if you raised your invoice through our application, though Qount, the default is to go through Payment Spring to collect your payments. . Andrew: Okay. Let’s say there were multiple correlations. Let’s start building a software. Andrew: So if I come to your site, I click the button to talk to an expert, I’m taken to . We’re doing your accounting, we would do your taxes,” so on and so forth. Uday: At this point I believe it’s a really exciting time to be in accounting software, but more than accounting software, the companies that you cited, the inDineros of the world, the Benches of the world, I think there’s one more [inaudible 00:39:05] is roughly around there and us. I kept Googling them. &q=photoshop+tutorials+color+correction Learn how to color grade your pictures to give it a vintage photo effect in Photoshop Vintage color grading makes your photos have an old and retro effect. We’re comfortable with our accountant using Xero. If it’s I’m on the go, if it’s take one of these powder things, and one of their cups which I actually took home to wash the other day. It’s great where they got LessAccounting too, given that they were more software engineers that set out, they understood the pain points and built a software. We did it pretty fast, put it out there for 15 customers, got the learnings, went out and sought opinion of a lot more customers. So we went ahead and acquired LessAccounting. Now, I sent another one saying, “Hey, I got to call you. So it’s more often, for lack of a better word, an investment up front. Even if you had to switch an accountant, how do you make sure that everything that the old firm did for you is transferred over? Slow Network, promoted by journalist-lyricist Neelesh Misra, pushes rural products and experiences, How marketers can use the traditional exchange of festive wishes meaningfully. Uday: One of the things we realized is most of the questions are pretty straightforward. Now all this is very soft. All right. No meat in it, really ingredients that you can actually read and understand. The Qount umbrella pretty much has everything. I’m kind of an energetic person anyway, but Athletic Greens is helping me and I’m going to be open about that. Just go to botacademy.com/mixergy, to try one of our bots and be invited to our webinar where I demo how to create a chat bot in less than an hour. No one’s going to really remember. Andrew: Was it weird for you to sit in someone’s office and just look over their shoulder? . But what we noticed is they were, at the end of the day as a small business you would go and buy accounting software, you would also engage an accountant to work on your behalf, and at the end of the year probably you would also engage a tax accountant who would then do your taxes. It’s fantastic that those guys are able to do that well. Thank you for being on here and thank you all for being a part of this. You got to come and use this new thing that I’m using.” Right? They also . That was a big pull aspect because a big part of what we said is, “Hey, everything that you have thus far for your company, we want to make sure that we get it into this ecosystem.”. Uday: Because he sat down and thought, “Hey, I’m running a service company,” but he was looking to expand his horizons, looking to do more, and because of his background and his knowledge in accounting always wanted to build something rather than purely running a service company. Andrew: Hey, everyone, my name is Andrew Warner. I also like that you guys have a CFO functionality. Go to botacademy.com/mixergy. Uday: What we ventured was to get into getting this data out and throwing a bunch of dashboards at you so that it made it more clear and simpler for you to look at it. Example is, Uber probably is the greatest example of that. . Three areas where we said, “Hey, we’re not going to venture into it at this point.” One is payroll systems, one is payment gateways, and then finally taxes. Finally, he called me back and I said, “Look, I promise this is important. It’s really important. Brendan McDermid | Reuters New York opened a mass Covid-19 vaccination site at […] Covid-19 has triggered a consumer shift towards branded products as ... Big Story | Understanding bearish and bullish reversal chart patterns. I immediately fired off a text message. I’m more gung ho about this than you are. . Do you feel like excited to be in accounting software? And the resonating thing was, “Hey, you guys are doing a great job. Bellicosity has been Saddam Hussein's trademark right from the start. It’s very, very organic traffic that comes through. Ubuy India: The How did you know what to iterate to next? And so I thought, how do we reach customers using chat? Now, software for accounting, really intense, does so much, it does invoicing, it sucks in data from banks. Of all the things that you’ve tried, what’s the biggest? We talked to him, we understood where LessAccounting was and, you know, it looked like something that we would be interested in acquiring. How many customers do you have at Qount? You can write a book review and share your experiences. You tried calling them, I’m sure. You don’t look at an ad or a Facebook ad or a sticker somewhere and say, “Hey, I’m going to jump onto this accountant and I’m going to use this guy to do my accounting.” In the line of . What if I have Stripe or one of the other payment gateways? Not sure what a chat bot is? So then, you got that feedback. Do they do that for you? Are you . It’s called Athletic Greens. Andrew: All right. . . Andrew: Oh, they never got back to you even? Uday: That was absolutely a question. I’m not actually going to attribute everything to them, frankly. Andrew: And then you refer that out to someone else or you guys are doing taxes now? I get that you have these clients who are already working with your accountants. Andrew: You know, one thing that I wonder when I see these guys, Bench, inDinero, why not say, “Okay, people prefer to have bookkeepers who they could have as strategy partners who do the work. Andrew: Is that expensive to have someone who’s enough of an expert that they could answer questions like that, get on a call and at the same time, you know, close a sale and you guys aren’t charging that much? . Why do you have to do it? Analytics and big data is what my interest started off with, and I partnered with my co-founder whose background is, he’s a CPA and accounting expert, worked with the big four and he was running his own services company. The combination I think is what’s exciting at this point of time. But we also wanted a synthetic name rather than accounting and counting. How Zee Ali went from selling cigarettes in the hood of Chicago to selling... LeadPages founder on why you should be embarrassed by your first launch. It’s a whole other set of skills and people have their accountants do it. But you want that interaction to happen through a software. Okay? Andrew: I see. I don’t even know if it’s Athletic Greens that’s making me feel this energized, though if you listen to my earlier episodes, you might see that I’m more energized. We’ll just use Xero or we’ll use QuickBooks.” Why do you have to create your own software? I realize that I don’t get enough protein in my diet. That was one. Andrew: I see. What does it mean that on the packet it says it’s going to give me energy, health, body and . cross-selling has been our biggest way of acquiring customers, and that’s where I’ll talk a little bit about LessAccounting too. Not as much, but yeah. Okay. It’s great to have that information, it’s great to have that insight, but am I going to pay you $20 a month to get it?”. And I discovered that you can do it if you build a chat bot. Easy in and out. Or you are a startup that started out today, you’re one employee, you’re two employees, you just need software that day. I wanted to get a handle on my personal finances. Andrew: Okay. They could pretty much ask, “What’s my gross profit margin?” and one of our bots reply’s to that chat. When I heard that the founders of LessAccounting sold their company I was completely surprised. That’s where we are right now too. Uday: Bookkeeping, accounting, payroll, taxes. Intuit is a great company. Andrew: HubSpot does. Uday: Some of them I believe. it takes a lot of time to build, and if you’re on the flipside, if you look at LessAccounting, it’s great. I’ve heard about this. Fundamentally, we sat down and gave this a big [inaudible 00:19:22] because like you said, building software or going through the iterations is not simple. I want to just call up this Chinese company and talk to them, Lu Kuan Jiang is who I want to talk to. All right. It used to be the most effective thing. Uday: It’s been good thus far, but I agree, it’s slightly challenging. They need something simple, do-it-yourself. We would call them and say, “Hey, we can do your taxes. I want to also feel healthier. I’m happy with it. Although, I’ve actually not been active on there for about a year now. Andrew: I get it. A big part of that was saying, “Hey, we have a captive customer base of about 300 companies. And I’d love your feedback on this. It’s got a lot of people reaching out to it. Well, today I have founder of that company. Where did you get that? I can’t go to my bookkeeper and say, “I know you just studied QuickBooks, that’s what you’ve grown up on. I think we should be thinking that way too. People want to talk to a human being before that human being creates a chat bot. . What do you make of that? Uday: The first version is we rolled out an analytics software called Big Half. Then there was this other company called ProfitWell that came out, that said, “We’re also going to give you this kind of analytics for free. So it wouldn’t be contact us if you’re interested in buying, but instead it should be contact us if you want to personal demo of how these chat bots could help your business. Please Subscribe to get access to one of our early bird packs. Uday: Intuitively, that’s what it felt, but when we did the customer service or when we went to the customers that was not the resonating feedback. . . All right, Uday. I think that’s where you refer to HubSpot, so I’ll go off that tangent. So, like I said, it’s about talking to people, giving them fundamentally good advice whether or not they’re going to adopt your solutions or service at this point. So it’s just that we don’t use our own software to do taxes. Yeah we know that laughing is the best medicine. Maybe you could figure out what to do.” I’ll tell you exactly what I did. the 350 customers that he was servicing at that point pretty much came through referrals. That’s the thing where if I get an order, it goes through the gateway, you guys automatically suck the data in and you keep track of it. . So it was good that we learned our lessons quick and fast and we got the pulse of where the market was going towards. We can also go and talk to, you know, programmatically to software, people who are canceling or whose credit cards expire and convert them back into customers again and we’ll only charge you a percentage of sales.” And that felt right. One is typically, I’m laid back. Andrew: That’s funny, because Drift was founded by the guy who created HubSpot software. Andrew: Okay. And I looked at this in my notes and I didn’t understand what you guys meant by that. What’s your date like? Andrew: It’s so funny that they’re not, because for my website I would have an analytics software. If you're a premium member, you can save your likes. But you’re right, there’s nothing drawing me to have analytics software built on top of my accounting software. And you can do Whois searches on a lot of different sites. You might have even seen it in past interviews, earlier in 2017. I’m like shot out of a cannon all the time. It’s a Chinese company that has the domain. But then again if you told me the need, if you told me how I would solve a problem, I would want that. It’s more of a, we’re doing X, we’re going to go Y, we’re going to make sure that everything that you have here, we’re going to provide there too. It gave us exposure to a lot of micro small businesses. Are you in a relationship? . What’s something that’s more difficult that I would not obviously think I need, but if I hear about it I might be drawn to it? But if I gave you an accountant and said, “Hey, the accountant is the one that runs everything in your software. You’re putting your experts out there, you’re asking them to talk to people, you know that at some point the next time there is a need, you’re going to get that first call in terms of saying, “Hey, I spoke to these guys. That was the first question. Shop electronics, fashion, mobile phones, computers, gaming laptops, beauty products, home improvement & office products, perfumes & more at discount prices. Hunter Walk has this group of entrepreneurs who are all dads who have kids roughly the same age, and I saw in this group people were saying, “How do you even find a good sitter?”. Andrew: So, it is a harder thing to do. So that’s where I think the patience aspect especially in selling accounting software and accounting services comes into play. Andrew: In addition too, he would get to run his current company, you guys would have a separate company together that you co-own, this would be a software company and would scale much better than a services business. And usually what we realized is that thing takes time. So I hired a bookkeeper to manage my personal expenses, and she happened to recommend QuickBooks and now we’re using QuickBooks together. Google me. Pretty much as service organization that did all the back-office work for you. I want to feel great. recognition of a familiar pattern leading to immediate solution of a mathematical problem. I remember years before people knew what customer development was and understanding your customers and watch them. And the shift is that we’re using chat more and more often and email less frequently. Offer closes soon. 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