I had a potential client call up this week and we spent a bit of time talking about the return on investment (ROI) of the work that Nudge does. Having only started her business in August, she wanted to get on top of the numbers. And she was interested in what Nudge could offer her business. But most of all, she wanted to understand what return her business would generate from one of our monthly Nudge packages.
It was a really good question. How do you assess the ROI on the work that your accountant does? From a Nudge perspective, we think about it as follows:
Traditional accountants generally help you comply with your taxes. The return that you generate from them doing this work can be broken down into (1) you are not an expert in it so let them do it all and (2) the time you need to spend getting them the work. This work really can be viewed as something to help you stay on the right side of the ATO but does it really add any value to your business.
On top of the cost of a traditional accountant, you have the following choices in getting your books up to speed. You can do it yourself, at a considerable time cost (time which you could spend getting more sales through the door) or you can hire a bookkeeper which is another separate cost.
How do you track your income and expenses? Often you will need to go and buy some accounting software to help you manage the business finances and to do your invoicing. You need to pay for this on top of your accounting and bookkeeping costs.
Then, because you bookkeeper and accountant work for different companies, you need to help them talk to each other and often when they have questions, you somehow get involved in answering them.
Is something missing here? With this complicated, timely and expensive process, have you noticed that no one is talking about how this helps your small business grow!
Mat Beeche from ShoeString Startups is talking about how Nudge Accounting gives startups and small businesses their numbers each month.
A quote we love is when he is talking about the importance of the monthly numbers as says “one of the biggest things that I have seen with a lot of start-ups that I have interviewed that have failed or gone under, is that they are not managing their finances properly, and think they are growing faster than they actually are”. You can read more about what you can achieve from knowing your numbers here.
At nudge, a lot of our new clients have come to us through referrals from existing clients. For us, this is the ultimate compliment! To say thank you, we have started a referral program – clients receive one month free subscription for every client they refer. Most clients had no idea about this program when they made the referral and so it came as a nice surprise to them!
We know a lot of small businesses have different referral programs in place and we’d love to learn more. Tell us what referral program you are using in your small business.
We are proud to say that that our co-founder, Emma Petroulas, was listed earlier this week as one of the 8 women to watch in the Sydney Tech-Startup Scene by Shoe String.
It’s a real honour that Nudge has been listed alongside some really amazing Aussie women in startups who are doing such exciting things! Many of whom we have followed their journeys as we were starting Nudge.
Other women included on the list were:
Katrin Suess from Vimily: a new online concept where you can leave video messages for future generations
Fiona Anson and Alison Baker from Hire me Up: recruitment for the part-time and casual markets making waves at the moment
Kat McKinnon from Verify1st: on a mission to stop fake websites and scammers
Katie Campbell from firehosiery: a subscription service for hosiery
Jodie Fox from Shoes of Prey and Pascale Helyar Moray from Style Rocks: design your own shoes and jewellery
Priyanka Rao from Evolvex: online flat-packed furniture
Bronwen O’Brien from Digital Sorbet: virtual PA services
The article discusses how we turned around one of our biggest challenges to make it our “Best mistake”.
Some key points we were able to take away from our best mistake were:
Communication is one of the most critical parts of business. Getting it right needs to be with a whole-of-business approach, all the time
Inject your key differentiators into the message straight away to capture attention, Otherwise the opportunity could be lost.
Highlight the problem your audience has. Only when they understand their problem, can you provide the solution
We were lucky to have our communication mistake picked up by a presenter at a workshop during Small business month – we are pleased to say this presenter with his own small business has become a nudge client.
Emma had the opportunity to be interviewed for the start-up show on Eagle Waves Radio.
Have a look at how Nudge Accounting is changing the way accounting is done for small business.
We Are E.S.T. 2012
Who WE Are
At Nudge, we do it all for your small business: bookkeeping, accounting and tax. we can also help you with tax advice, company setups, personal tax, monthly performance summaries and specialist advice for small business owners. All work is completed by Aussie Accountants so you’ll never have to worry about compliance again.
100% Online Accounting
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Jane Lu - CEO
“Nudge has been a fantastic company to work with. They’ve really gone above and beyond in providing an extremely high level of service and truly care about our business and its growth. Their team is very personable and supportive. By providing us financial transparency, Nudge has better equipped us to make informed business decisions.”
Steven Fine - Managing Director
“The nudge service has been a massive cost and time saver for me. Having a separate bookkeeper to my accountant was causing double handling. I was spending far to much time on admin tasks. The automation, workflows, responsiveness and easy access to real time information has allowed me to focus on the growth aspects of the business rather than administration.”
SHOE STRING MEDIA GROUP
“Nudge is like having my own personal CFO for my startup without the cost. The team go above and beyond to make sure they take the time to assess your numbers in order to help you strategise on getting your business to the next level”
Dan Stinton - Managing Director
“Nudge takes the hassle out of bookkeeping and accounting. Their service utilises cloud accounting to make things fast, painless and easily accessible, so I can spend less time on administrative tasks and more time on growing my business. I recommend them to any startup, as well as any other business who wants a thoroughly modern approach to accounting.”
RESOURCES FOR PROFIT
“Nudge rescued us from a midsized accounting practice who, amongst other things, messed up our GST returns. As an ex Accountant, I have to say, to move to a cloud based solution (but very cost effective) had me feeling uneasy, but we decided to take “the risk”. The outcome (we’ve now done a full years cycle) was much better than expected. Accounting is now a simple process for us, no longer a distraction from running our business. Monthly reports, GST returns and our annual return are prompt, and any questions (there are very few) are answered quickly. We can’t give a strong enough recommendation for Nudge.”
Kate Miller - Director
“The biggest challenge that I have faced since starting my own business 3 years ago is finding a good accountant/bookkeeper who not only understands my business but can provide advice and solutions to help grow my business. Nudge takes care of all of my bookkeeping and financial reporting in a timely and professional manner. They never grow tired of answering my questions – no matter how silly they may sound! I would strongly recommend Nudge to any business owner.”
PREMIUM PLANT HIRE
Russell Wells - Managing Director
“Nudge have been awesome from the very start, from flawlessly migrating our accounting software mid way through a financial year, to giving us clarity on our numbers with tailored reports that are meaningful to our business. Their team has a genuine interest in seeing us succeed and are always available with any support that we need.”
With the uprising of technology and the plethora of competition in the majority of industries, business owners tend to seek help and assistance in managing and tailoring their business to suit the era’s needs and expectations. The process of accounting provides reports that bring key financial indicators together. Understanding financial concepts and gearing clients to financial success is what we exceed at here at Nudge Accounting.
Our expertise lingers throughout the field of online accounting and engulfs all financial cases. With years of extensive experience and a dedication for our clients success, we endeavour to evolve our existing methodologies, in order to transform into Australia’s leading online financial firm.
OUR COMPANY Commitment
A successful marriage between bookkeeping and accounting will contribute to the long-term financial success of any business. Nudge Accounting takes pride with their online bookkeeping and online accounting services that encompass all aspects and sectors of finance to ensure our clients receive the utmost finest service. Commitment is an attribute we stand for as client satisfaction is always key to evolution.
Our reliability is second to none, as we ensure our clients are well organised and pursuit their financial tasks with accuracy and precision. Nudge Accounting propelled their excellence and with their dynamic team of online accounting professionals transcended competition and have cemented themselves as the leading online bookkeepers in Australia.
OUR COMPANY Success
Our software and technological client interface is meticulous and seldom do alternative online accounting companies acquire this quality of infrastructure. This is what portrays our excellence and gears Nudge Accounting towards success. We ensure client satisfaction, by going through all the details and explaining financial situations to our clients. Engaging the client is what makes us stand out!
Online accounting software, combined with online accounting techniques is a much more effective procedure than filling out paperwork because half the work is already done for you!
Nudge Accounting take pride in providing the utmost finest online accounting service across Australia, with a variety of small to medium businesses and accounting excellence, technology and Nudge go hand in hand, just like the glove fits the hand!
WE HELPING SMALL BUSINESSES
Nudge provide exceptional accounting service and support whilst remaining price competitive. All of our packages provide the same great features for your small business accounting needs, which includes:
For companies that are finding themselves growing more and more and are struggling with basing thems
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