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What's Next for Accounting? - Issue #54

What's Next for Accounting?
Voting ends TOMORROW for the AICPA’s innovative practitioner award. You know what to do 👀

  • Congrats to Bookkeep for raising $6M! Bookkeep pulls data from third-party apps like PayPal Amazon Shopify & more, and posts neat n tidy summaries to QBO Xero & Intacct
  • AR-collection-as-a-service company BillerGenie raises $5M
  • Ramp launched their iOS app
  • Dropbox launched their own spin on Loom/screen capture
  • A new category of app is super hot right now: An app that lets your search across all your apps. Dashworks and Needl are two examples. Searchable makes your Airtable bases.. searchable from Slack
  • If you like low-profile laptop keyboards, but also appreciate the big-thock energy that comes from a mechanical keyboard, low-profile mechanicals may be for you
  • Presenting puts your screen share into a fancy animation
🤖 Automate My Thing
How I Build Passive Product Revenue
Today I shared my playbook for how I build passive product revenue. This all started in my firm, and I think accountants are best-suited for this work:
Jason Staats ⚡
Behind every company is a big, ugly, accounting file

It's one of the only things all SMBs have in common

And whether you're an accountant or not, it's a treasure trove of valuable info

Let me show you a way I build passive income around other people's accounting files 👇
The core idea is to use a service to sync accounting data to Airtable or Google Sheets, then build a mobile app on top of it.
Mobile apps these days are super easy to make, I previously shared a bank transaction reviewer that took less than five minutes to build.
Look for opportunities to build *custom business logic* into your app. This is where the real value lies, is the ability to incorporate the fiddly stuff that other tools won’t do out of the box.
Charge a reasonably inexpensive setup fee, then get them on a fixed recurring fee. Build up a few of those & you’ll have a nice, largely passive base of recurring revenue, and 2x your firm’s stickiness with clients.
💎This Week's Sponsor
Meet the first workflow system that makes getting client answers a breeze
😍From The Community
We have 27 live events planned between now & the end of the year. Some highlights:
  • Monthly roundtables hosted by Rachel Fisch, Chad Davis, Nayo Carter-Gray, Brandon Hall and ME
  • “Show Me Your” events, where we demo our live client setups. We have events scheduled for renewal processes, client communication plans, your 1099 process, and tax intake
  • Live demos with several exciting new startups in our space
  • User group meetups for Karbon and TaxDome
  • A book club
  • An AMA with Nayo about running virtual events
My community Realize is a private space for people to swap ideas & collaborate. At $120/mo it’s also the way I finance everything else I do, pay a full-time creative director, and a part-time developer in an effort to make the accounting industry a slightly better place 💗 The community is currently about 200 members strong.
🕵️‍♂️Where to Find Me
🎧 Podcast Interviews:
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Jason Staats
Jason Staats @jstaatscpa

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