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the AltAccountant Business Model

I wrote the 6-week program called “AltAccountant” to teach people by philosophy for running an alternative accounting/bookkeeping business; hence the name altAccountant.

It is important to mention that most accountants rely on a traditional business model; which is commonly seen bu these traits:

  • They take virtually every client that calls their office asking for an “accountant” (Generalists)
  • They tend to keep most clients “forever” (low attrition rate), so they tend to avoid “rocking the boat” by developing new lines of business or new services
  • Most new business comes by word of mouth – even if business comes from internet; it is still highly based on recommendations (hardly spend any money on marketing to target audience)
  • They use the traditional cost-plus method of pricing (billing by the hour) with a percentage markup over the base hourly “cost” of the employees.  Some firms get 3 to 5 times the hourly rate from what they pay their employees (like a $25/hour employee gets billed at $125 per hour)
  • High quality of work, High levels of trust

Now, none of these things are “bad” per se, but they are certainly not innovative enough to withstand the next big disruption that will come to the industry (probably via software automation, artificial intelligence, increased globalization of business and e-commerce, subscription-based business models etc.).  And of course “High quality of work, High levels of trust” should be givens of any service provider.

However, the opportunity to swim against the current and break the status quo starts with these 3 fundamentals:

  1. Positioning – Your niche/specialty with messaging that encourages your target clients to chase you instead of the other way around.
  2. Pricing – How you create and capture value with your customer. You increase your worth by increasing value. But, more importantly, how you have a value conversation with your clients to discover their real needs.
  3. Innovation (disruption) – How you create new services and offerings. How you deliver services in a unique way that is both a differentiator and a disruptor–making it impossible to be seen as a commodity

If you want to learn more about my 6-week program, go to:

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Hector Garcia

Hector Garcia

Use our link to get 30% off for a year, valid through 07/31/2022

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