‘Accounting Tech Innovator of the Year’ shares secrets to success.
August 11, 2021
By Ben Grossberg
This month I caught up with Patrick Sargent, CEO and co-founder of cloud and tech-focused accounting firm POP Business. Patrick shares a lot in common with Weel co-founders, Daniel Kniaz and Russell Martin.
Each are, dare I say, Australian accounting technology innovators. Each has solved important problems for small businesses, which has allowed them to achieve huge growth for their own companies in just a few short years.
It’s no wonder the three are such good mates. So, from one mate to another, we’re pleased to pass on a few secrets to success Patrick was good enough to share just with us for our accounting community.
Keep your purposes front of mind (I guess we could say, understand your “Why”)
"A strong purpose can get you there. Understanding why you’re doing what you’re doing can get you through the highs and lows.
As you know, it can be extremely stressful. Building a business is a massive roller coaster and knowing the reason you’ve thrown yourself into this gives you something to fall back on and build your resilience each day."
Long-term thinking should direct your marketing
"For us we learned the value of looking at things in the longer term.
We love innovation, so we’ve tried a lot of different things. We’ve advertised on all the different social platforms, like TikTok and Spotify.
They’ve worked, but we’ve found these things compliment, not replace, the foundations every brand needs. That includes getting our brand content right and building real person-to-person business relationships. But in saying that..."
Innovate your own processes with a digital mindset
"Businesses can now access phenomenal, inexpensive and innovative technology. Staying across these innovations has made everything so much easier to get our business foundations right.
As we are technology-driven accountants for small businesses, we obviously use Weel, which has automated our expense payables. It does all the account matching with Xero, which is well structured and easy to use. It’s helpful that each different department can have their own credit card, making it simple to understand the data at a glance."
Look for the strategic partnerships
"We’ve invested a lot of time in relationships and building out our network. We’re fortunate that we positioned ourselves in ways that attracted these partners and leveraged some which were bigger than us with similar target audiences.
It’s important to understand what other businesses are operating in your market that can complement your service and start building those partnerships so both businesses can benefit."
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