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Offshore Accountants: How to OFFSHORE TO INDIA & SCALE - 6 Challenges to Overcome & Succeed

Published on: December 6 2022 by FeedbackWrench

Offshore Accountants: How to OFFSHORE TO INDIA & SCALE - 6 Challenges to Overcome & Succeed

Offshore Accountants: How to OFFSHORE TO INDIA & SCALE - 6 Challenges to Overcome & Succeed

startTime durationTime text
00:00:00 00:00:03 one all right well hey everybody rob
00:00:02 00:00:06 satchram here feedback wrench I am here
00:00:03 00:00:08 with Ankita from accredit.com and we are
00:00:06 00:00:10 going to tok to accountants bookkeepers
00:00:08 00:00:11 tax professionals based out of the us
00:00:10 00:00:14 and we're going to tok about
00:00:11 00:00:16 Outsourcing or offshoring solutions for
00:00:14 00:00:19 your uh financials for your bookkeeping
00:00:16 00:00:22 for your accounting to Indian based
00:00:19 00:00:24 Chartered Accountants and uh so the main
00:00:22 00:00:25 problem that people are facing right now
00:00:24 00:00:28 if you're doing this outsourced
00:00:25 00:00:31 accounting model is that oftentimes it's
00:00:28 00:00:33 really difficult to find us-based Talent
00:00:31 00:00:35 right and we know right now that
00:00:33 00:00:38 unemployment for accountants is
00:00:35 00:00:39 extremely low right there are very few
00:00:38 00:00:42 accountants for how much demand there is
00:00:39 00:00:44 there's a ton of um just hiring anybody
00:00:42 00:00:46 in any industry is incredibly difficult
00:00:44 00:00:48 right now so if you're a small
00:00:46 00:00:50 bookkeeping firm accounting firm tax
00:00:48 00:00:53 firm by golly we do websites and
00:00:50 00:00:56 accounting to help you actually close
00:00:53 00:00:59 hire retainer businesses I got a little
00:00:56 00:01:01 course that teaches how to sell value
00:00:59 00:01:04 um and then we will set up advertising
00:01:01 00:01:06 for you so if you compare us we set up
00:01:04 00:01:09 just really nice websites in my opinion
00:01:06 00:01:10 which I think everybody kind of thinks
00:01:09 00:01:11 that so we're going to jump back and
00:01:10 00:01:15 forth between a couple of screens here
00:01:11 00:01:16 but Ankita and I have been able to get
00:01:15 00:01:19 to know each other over the last
00:01:16 00:01:20 probably eight to nine months it's been
00:01:19 00:01:22 really fun to get to know her
00:01:20 00:01:24 um and why don't you just tell us a
00:01:22 00:01:25 little bit about yourself
00:01:24 00:01:28 um how long you been doing accounting
00:01:25 00:01:29 where are you based out of and uh just
00:01:28 00:01:30 so you know there's going to be an
00:01:29 00:01:33 Indian crowd here too if you're an
00:01:30 00:01:34 indian-based accountant I think you're
00:01:33 00:01:36 going to learn a lot here but if you're
00:01:34 00:01:39 a us-based small CPA firm accountant
00:01:36 00:01:42 bookkeeping firm and you want to
00:01:39 00:01:43 maximize your profitability scale a more
00:01:42 00:01:46 profitable business and be able to
00:01:43 00:01:48 actually wake up to pristine books done
00:01:46 00:01:51 for your client we're going to tok
00:01:48 00:01:53 about six problems that indian-based
00:01:51 00:01:55 offshoring companies face we're going to
00:01:53 00:01:57 tok about how to get over those and
00:01:55 00:01:59 then we're also going to unbox just a
00:01:57 00:02:01 little bit of tip for at the end for
00:01:59 00:02:04 Indian basic accountants to make sure
00:02:01 00:02:06 that they can attract more us-based
00:02:04 00:02:08 accountants to Offshore to them but also
00:02:06 00:02:10 I'm going to tok a little bit about how
00:02:08 00:02:12 could you get your own clients but if
00:02:10 00:02:14 you like the idea of actually working
00:02:12 00:02:18 with somebody I would love it if you
00:02:14 00:02:23 would just go to a critik.com so it's a
00:02:18 00:02:26 c c r i t i c.com so there's their logo
00:02:23 00:02:29 they do a fine job they do a fantastik
00:02:26 00:02:30 job now I gotta admit like
00:02:29 00:02:33 there's a lot of trust that's been built
00:02:30 00:02:36 over the last again six to eight months
00:02:33 00:02:37 and these guys just do a fantastik job
00:02:36 00:02:39 so why don't you just tell us about
00:02:37 00:02:43 yourself a little bit here and uh fill
00:02:39 00:02:43 us in on uh on Who We Are
00:02:50 00:02:58 as a CPA from India and I am in this
00:02:55 00:03:00 profession from past four to five years
00:02:58 00:03:03 um doing accounting and bookkeeping
00:03:00 00:03:05 worked in a big hole companies doing a
00:03:03 00:03:09 lot of audit work and accounting work
00:03:05 00:03:13 and started advisory work from India we
00:03:09 00:03:15 are a team of about 10 people from India
00:03:13 00:03:20 providing these kind of Service rules
00:03:15 00:03:24 and also also we just love what we do
00:03:20 00:03:28 and we just have a vision that why not
00:03:24 00:03:30 group businesses in U.S by Outsourcing
00:03:28 00:03:32 it to us because the Dirty Little Secret
00:03:30 00:03:32 for so I'm going to tok to two groups
00:03:32 00:03:34 of people we're going to tok to the
00:03:32 00:03:36 fellow Indian accountants but we're also
00:03:34 00:03:38 going to tok to CPA's bookkeepers small
00:03:36 00:03:40 business firms again I'm just gonna real
00:03:38 00:03:43 quick we're feedback wrench.com she's a
00:03:40 00:03:45 critik.com and uh
00:03:43 00:03:47 man you guys have a passion for doing
00:03:45 00:03:49 this well one thing that a lot of folks
00:03:47 00:03:51 don't understand is um we kind of make
00:03:49 00:03:54 the joke and it may sound a little
00:03:51 00:03:56 whatever in America that a lot of the
00:03:54 00:03:58 development Community a lot of the
00:03:56 00:04:00 accounting Community
00:03:58 00:04:03 um is is Indian based and it's because
00:04:00 00:04:06 folks don't understand that a chartered
00:04:03 00:04:08 accountant in India is absolutely the
00:04:06 00:04:10 equivalent of a CPA here in the United
00:04:08 00:04:12 States and uh one thing that I've come
00:04:10 00:04:15 to learn over the last couple of years
00:04:12 00:04:17 is that part of why Indian
00:04:15 00:04:19 um Talent is really thriving here in the
00:04:17 00:04:21 U.S is because
00:04:19 00:04:24 um for good or bad there they have
00:04:21 00:04:28 learned the U.S Lang or the English
00:04:24 00:04:30 probably better than most Americans and
00:04:28 00:04:34 uh while they're there can be dialect
00:04:30 00:04:37 difficulties in communication sometimes
00:04:34 00:04:39 um what's fantastik is that Indian based
00:04:37 00:04:42 and that's a diverse group when I say
00:04:39 00:04:44 Indian based there's 330 000 people in
00:04:42 00:04:47 the United States there's a billion
00:04:44 00:04:47 people in India
00:04:48 00:04:53 when I say Andy respectfully I know that
00:04:50 00:04:56 there's a an array of uh of groups there
00:04:53 00:04:57 but just generally speaking we know that
00:04:56 00:04:59 you guys have Mastery of the English
00:04:57 00:05:02 language
00:04:59 00:05:03 um and you guys are really great
00:05:02 00:05:06 um at
00:05:03 00:05:09 almost every profession but there are
00:05:06 00:05:13 some disconnects between the us-based
00:05:09 00:05:14 economies and the indian-based economies
00:05:13 00:05:16 um so we've been having a lot of
00:05:14 00:05:18 conversations with that now what's cool
00:05:16 00:05:22 about a critik.com
00:05:18 00:05:23 um and again it's a c c r i t i c I'm
00:05:22 00:05:25 just gonna keep plugging her because my
00:05:23 00:05:26 hope is that a handful of you guys if
00:05:25 00:05:29 you want to offsource
00:05:26 00:05:30 unabashedly I want you to call them book
00:05:29 00:05:32 a consultation they're really flexible
00:05:30 00:05:34 obviously offshoring you've got time
00:05:32 00:05:37 changes and and whatnot but they've been
00:05:34 00:05:39 really accommodating and what's
00:05:37 00:05:41 beautiful for your firm is that you can
00:05:39 00:05:43 wake up and have your your books done
00:05:41 00:05:45 and now there's no financial gain in
00:05:43 00:05:47 this for me I want to help entrepreneurs
00:05:45 00:05:49 like I'm not like squeezing some money
00:05:47 00:05:54 she didn't pay me for anything she has
00:05:49 00:05:56 hustled her butt off to stay in front of
00:05:54 00:05:57 me and help me understand how I can
00:05:56 00:05:59 trust her
00:05:57 00:06:01 um I got to see her credentials and
00:05:59 00:06:02 their credentials she has a business
00:06:01 00:06:05 partner need to
00:06:02 00:06:07 um whose tikno apology got a little
00:06:05 00:06:09 shaky at the last minute I think your
00:06:07 00:06:11 tiknology is fine but um it's probably
00:06:09 00:06:13 just my tool here but
00:06:11 00:06:14 um now now how did you and need to get
00:06:13 00:06:16 connected together because you guys have
00:06:14 00:06:19 done this for like KPMG you've done this
00:06:16 00:06:21 for Big Four firms and that's what a lot
00:06:19 00:06:23 of people don't understand that the big
00:06:21 00:06:26 firms are utilizing Indian talent for
00:06:23 00:06:29 accounting because dog got it you're
00:06:26 00:06:31 excellent and there's capacity and and
00:06:29 00:06:34 and the US Dollars strong like our
00:06:31 00:06:35 dollar can buy a lot over there but why
00:06:34 00:06:37 don't you fill me in and how did you
00:06:35 00:06:39 guys get your business rolling together
00:06:37 00:06:40 how did you guys meet each other
00:06:39 00:06:43 um and just give us some backstory here
00:06:40 00:06:43 while I drink some coffee
00:07:12 00:07:16 that's great and it's been fun to see
00:07:14 00:07:18 um I don't have them here but photos of
00:07:16 00:07:20 your families and to see what's going on
00:07:18 00:07:21 um but a little bit so we're I'm going
00:07:20 00:07:23 to walk through a little bit about what
00:07:21 00:07:25 I've been toking with
00:07:23 00:07:29 um Ankara here and need to about what I
00:07:25 00:07:31 see it are some barriers to get through
00:07:29 00:07:33 um and these barriers are really meant
00:07:31 00:07:35 to just help equip both sides of this
00:07:33 00:07:38 equation so if you're a CPA if you're a
00:07:35 00:07:40 local us-based accountant here I want to
00:07:38 00:07:42 tok about some truths that exist if you
00:07:40 00:07:43 choose to Offshore
00:07:42 00:07:45 um first of all there's a lot of reasons
00:07:43 00:07:47 to mistrust to be suspect I want to tok
00:07:45 00:07:49 a little bit about that there's also the
00:07:47 00:07:52 realities of hiring anybody let alone
00:07:49 00:07:55 somebody who speaks another language and
00:07:52 00:07:57 is you know offset an exact other side
00:07:55 00:07:58 of the world your time is a little bit
00:07:57 00:08:00 different
00:07:58 00:08:01 um and so what I want to do is I want to
00:08:00 00:08:03 tok about some of the barriers that
00:08:01 00:08:04 exist so that people can work through it
00:08:03 00:08:06 because these are the barriers that
00:08:04 00:08:08 we've toked about that aren't going to
00:08:06 00:08:09 need to are committed to getting through
00:08:08 00:08:10 these barriers because we understand
00:08:09 00:08:12 that
00:08:10 00:08:15 um really the key to all of the this is
00:08:12 00:08:17 that you need to be able to trust that
00:08:15 00:08:18 onboarding new clients gets done well
00:08:17 00:08:22 because onboarding is incredibly
00:08:18 00:08:23 difficult and uh for CPAs and
00:08:22 00:08:25 accountants right if you are an
00:08:23 00:08:26 accountant and you finally get a new
00:08:25 00:08:28 customer
00:08:26 00:08:30 um it's incredibly difficult to onboard
00:08:28 00:08:33 that customer right and if you remember
00:08:30 00:08:34 all of this is going to be based a
00:08:33 00:08:36 little bit and and just you can check
00:08:34 00:08:37 out my course go to feedbackreads.com go
00:08:36 00:08:40 to accountants I have a course there's
00:08:37 00:08:42 500 bucks excellent coaching about what
00:08:40 00:08:44 does it actually take to grow this
00:08:42 00:08:46 accounting firm and it's sales coaching
00:08:44 00:08:47 it's value proposition coaching this is
00:08:46 00:08:50 not
00:08:47 00:08:52 it like I'm just it's here to help you
00:08:50 00:08:54 and if you ever do a website with us we
00:08:52 00:08:55 just give it to you but I I want to tok
00:08:54 00:08:57 a little bit about um some of the
00:08:55 00:08:58 coaching that we've been doing with
00:08:57 00:09:01 Ankara and need to because I coach
00:08:58 00:09:03 accountants to do a business model
00:09:01 00:09:04 um where really what they do is they
00:09:03 00:09:06 serve as an outsourced accountant okay
00:09:04 00:09:08 and so I'm gonna hop a little bit here I
00:09:06 00:09:10 don't mean to tok too much but I'm
00:09:08 00:09:12 going to move really swiftly but the key
00:09:10 00:09:15 here is that Ankita need to have they
00:09:12 00:09:17 have formulated their service package to
00:09:15 00:09:20 support the outsourced accountant model
00:09:17 00:09:21 they have been deciding how do we help
00:09:20 00:09:22 make
00:09:21 00:09:24 um any accounting firm that's doing this
00:09:22 00:09:26 outsourced accounting firm to be much
00:09:24 00:09:28 more profitable much more scalable and
00:09:26 00:09:30 the fact of the matter is is that we
00:09:28 00:09:33 know that after you start to get great
00:09:30 00:09:35 clients adding staff and improving your
00:09:33 00:09:38 productivity improving improving your
00:09:35 00:09:40 efficiencies are the two most important
00:09:38 00:09:42 value drivers for your business like
00:09:40 00:09:45 it's not price it's not necessarily just
00:09:42 00:09:46 selling higher amounts either it is can
00:09:45 00:09:48 you bring together complementary
00:09:46 00:09:50 giftings can you you equip other people
00:09:48 00:09:53 to work that OPM other people's money
00:09:50 00:09:56 it's also other people's time right when
00:09:53 00:09:58 we can do that all of a sudden one
00:09:56 00:10:00 person plus one person equals eight it's
00:09:58 00:10:02 not one plus one equals two it's not
00:10:00 00:10:04 normal accounting right we know and I
00:10:02 00:10:06 believe in and I've seen it and I've
00:10:04 00:10:07 experienced and great leadership
00:10:06 00:10:10 understands this that there's a
00:10:07 00:10:13 multiplicative effect on people when
00:10:10 00:10:16 they start to build teams around them so
00:10:13 00:10:18 they have looked at this business model
00:10:16 00:10:20 of that I call the outsourced accountant
00:10:18 00:10:21 model and so there's kind of a pricing
00:10:20 00:10:22 structure so I'm going to hop around a
00:10:21 00:10:25 little bit here
00:10:22 00:10:26 um so um Ankara interrupt us we do have
00:10:25 00:10:28 a hard stop here that we're going to go
00:10:26 00:10:29 to I want this to be super valuable
00:10:28 00:10:31 right so some of this is rehashed real
00:10:29 00:10:32 quick I'm going to move very quickly you
00:10:31 00:10:34 know I always tok to people that
00:10:32 00:10:36 there's a small medium large pricing
00:10:34 00:10:39 scale and for the most part I find that
00:10:36 00:10:42 when you do what I tell you to do we
00:10:39 00:10:43 it says kind of selfish if you just do
00:10:42 00:10:44 everything the way I say all of a sudden
00:10:43 00:10:46 you're gonna have success but there's
00:10:44 00:10:47 some Nuance here but here's the bottom
00:10:46 00:10:49 line
00:10:47 00:10:50 um there's a pricing structure and that
00:10:49 00:10:51 pricing structure is usually you're
00:10:50 00:10:54 going to have you know small
00:10:51 00:10:57 solopreneurs that are 200 to 700 a month
00:10:54 00:10:58 to 200 to 750 a month and the idea is
00:10:57 00:11:00 that you'd be their outsourced to count
00:10:58 00:11:01 and do their bookkeeping taxes payroll
00:11:00 00:11:03 all of that then you're going to have
00:11:01 00:11:04 bigger businesses or mid-sized
00:11:03 00:11:08 businesses that's going to be like 500
00:11:04 00:11:10 to 1500 or 750 to 2500 and then you'll
00:11:08 00:11:11 have larger businesses now when you do
00:11:10 00:11:14 the math on some of this to sell this
00:11:11 00:11:17 value I want you to remember in my model
00:11:14 00:11:18 there's three core value propositions is
00:11:17 00:11:20 number one you're going to help the
00:11:18 00:11:21 business owner as a CPA and accountant
00:11:20 00:11:23 you're going to help that business owner
00:11:21 00:11:25 gain time and efficiency so that they
00:11:23 00:11:27 can be more productive you're going to
00:11:25 00:11:28 serve as an outsourced staff person our
00:11:27 00:11:31 goal is to make sure that they don't
00:11:28 00:11:32 have to hire Patty part-timer that
00:11:31 00:11:34 person that might come in one day a week
00:11:32 00:11:36 and like do things for eight hours
00:11:34 00:11:38 that's what we're trying to replace
00:11:36 00:11:40 because as soon as we do that
00:11:38 00:11:42 um what you're going to find is that you
00:11:40 00:11:44 know you do this simple math on that if
00:11:42 00:11:46 you had eight hours of that a week which
00:11:44 00:11:48 is very regular for a business owner if
00:11:46 00:11:49 they have somebody Petty part-timer
00:11:48 00:11:51 comes in once a week she spends eight
00:11:49 00:11:53 hours she's probably gonna get paid
00:11:51 00:11:56 about you know thirty dollars an hour at
00:11:53 00:11:59 minimum here in the US I mean McDonald's
00:11:56 00:12:00 is legitimately paying you know 16 to 25
00:11:59 00:12:03 an hour depending on what you're doing
00:12:00 00:12:04 so you're competing against some really
00:12:03 00:12:07 strong
00:12:04 00:12:09 um situations here so again that's going
00:12:07 00:12:11 to translate to 240 a week and if you
00:12:09 00:12:14 can replace that person you're going to
00:12:11 00:12:16 be up against 960 a month you're an
00:12:14 00:12:17 alternative to 960 a month and not only
00:12:16 00:12:19 that but if you think about it when you
00:12:17 00:12:21 are doing that when you're doing their
00:12:19 00:12:23 bookkeeping accounting and maybe some of
00:12:21 00:12:25 their AR and AP what what's happening is
00:12:23 00:12:27 is they don't have to waste time and
00:12:25 00:12:29 you're doing it right because if we're
00:12:27 00:12:30 Frank about it folks you know that that
00:12:29 00:12:32 person does their bookkeeping and
00:12:30 00:12:33 accounting and then you have to come and
00:12:32 00:12:35 do journal entries to fix everything
00:12:33 00:12:37 because they're nonsense
00:12:35 00:12:38 um usually they mean well but they
00:12:37 00:12:40 create a bigger mess than what they
00:12:38 00:12:41 actually solve so you're going to do do
00:12:40 00:12:44 it right the first time and when you're
00:12:41 00:12:47 Frank about that that is a compounding
00:12:44 00:12:49 value thing right so when you can do it
00:12:47 00:12:50 right the first time they don't spend
00:12:49 00:12:51 the time in the first place you don't
00:12:50 00:12:53 have to come in and fix on it when you
00:12:51 00:12:55 don't have to come in and fix it you can
00:12:53 00:12:57 focus on tax reduction planning when you
00:12:55 00:12:59 can focus on tax deduction planning now
00:12:57 00:13:01 they're getting real qualitative advice
00:12:59 00:13:03 you can be a CFO you can help them see
00:13:01 00:13:05 their kpis you can actually get creative
00:13:03 00:13:08 and spend time in their case rather than
00:13:05 00:13:10 just fixing journal entries and what's
00:13:08 00:13:11 beautiful is a Critik and Ankara here
00:13:10 00:13:13 have put together a package to support
00:13:11 00:13:16 this in bookkeeping and accounting
00:13:13 00:13:17 financial reporting and even utilizing
00:13:16 00:13:20 some tools that they're getting to know
00:13:17 00:13:21 like tax Dome or canopy so that you guys
00:13:20 00:13:24 can have a centralized communication
00:13:21 00:13:26 tool and everything I have a link for
00:13:24 00:13:28 tax Dome little affiliate link if you
00:13:26 00:13:30 click it and get signed up for a free
00:13:28 00:13:32 trial also ADP has some sweet offerings
00:13:30 00:13:35 if you're looking for
00:13:32 00:13:37 um just connect with me in my in the
00:13:35 00:13:40 link in this video or go to our website
00:13:37 00:13:41 feedbackrange.com so again we're we're
00:13:40 00:13:42 going to help them gain time and
00:13:41 00:13:45 efficiency which is the number one thing
00:13:42 00:13:46 but that takes Vision that's not an easy
00:13:45 00:13:48 value prop number two we're going to
00:13:46 00:13:49 create pristine financials and number
00:13:48 00:13:50 three we're going to help them lower
00:13:49 00:13:54 their taxes well what that value
00:13:50 00:13:56 proposition is really based on well
00:13:54 00:13:58 um that value proposition to this
00:13:56 00:14:00 business owner is really based on these
00:13:58 00:14:01 three those are just another way to say
00:14:00 00:14:03 it but number one they want to mitigate
00:14:01 00:14:05 their taxes and build tax efficient
00:14:03 00:14:07 wealth number two they want to Inc or
00:14:05 00:14:10 you need to save them time you need to
00:14:07 00:14:12 save them labor you need to build
00:14:10 00:14:13 efficiencies in productivity and become
00:14:12 00:14:15 a staff replacement really serve as a
00:14:13 00:14:18 CFO that's the second big value
00:14:15 00:14:20 proposition in order to sell High
00:14:18 00:14:21 retainer business the third one is that
00:14:20 00:14:23 you're going to bring you're going to
00:14:21 00:14:24 help them stay compliant you're going to
00:14:23 00:14:27 bring peace of mind risk mitigation and
00:14:24 00:14:29 IRS protection when you can do that when
00:14:27 00:14:31 you stack those three values together
00:14:29 00:14:32 what you're going to find is it's much
00:14:31 00:14:34 easier for you to create a situation
00:14:32 00:14:37 where people might pay you
00:14:34 00:14:39 um you know 500 600 800 a month usually
00:14:37 00:14:41 what I found and this is what I actually
00:14:39 00:14:43 built that Nuance Financial my old tax
00:14:41 00:14:44 firm is that we would have different
00:14:43 00:14:46 levels of clientele five hundred seven
00:14:44 00:14:48 fifty one thousand fifteen hundred or
00:14:46 00:14:49 twenty five hundred dollars a month and
00:14:48 00:14:50 if you think about what that equates for
00:14:49 00:14:52 an annual
00:14:50 00:14:54 um Revenue that's that's compelling
00:14:52 00:14:55 right so if you land a 1500 a month
00:14:54 00:14:57 client that's eighteen thousand dollars
00:14:55 00:14:59 a year and as we move into like what
00:14:57 00:15:00 does that look like let's just imagine
00:14:59 00:15:02 you got a twelve hundred dollar a month
00:15:00 00:15:04 client that's fourteen thousand four
00:15:02 00:15:06 hundred dollars a year
00:15:04 00:15:08 that's a good client well now if we're
00:15:06 00:15:10 Frank about it they don't leave right
00:15:08 00:15:12 away so in year one you make fourteen
00:15:10 00:15:13 four year two that's twenty eight
00:15:12 00:15:14 thousand year three that's forty three
00:15:13 00:15:18 thousand you're four that's fifty Seven
00:15:14 00:15:22 you get it right most people won't leave
00:15:18 00:15:25 you unless you screw it up and what's
00:15:22 00:15:27 beautiful is that a Critik and Ankara
00:15:25 00:15:30 allow you to fulfill and stay on top of
00:15:27 00:15:31 things in a very price efficient manner
00:15:30 00:15:34 and they have built a pricing that
00:15:31 00:15:38 allows you to absolutely scale they have
00:15:34 00:15:40 access to so need to and Ankara are they
00:15:38 00:15:42 are absolutely engaged in making sure um
00:15:40 00:15:44 your books are fantastik that your
00:15:42 00:15:45 financials are done right
00:15:44 00:15:47 um you know if you were to just
00:15:45 00:15:48 summarize real quick Ankita what um and
00:15:47 00:15:50 I'll just kind of plant the seed because
00:15:48 00:15:51 I know I'm just surprising you with a
00:15:50 00:15:54 question here
00:15:51 00:15:55 what you know when it comes through like
00:15:54 00:15:57 real simply what are the three or four
00:15:55 00:16:00 things that you really
00:15:57 00:16:02 um help these accountants with uh in in
00:16:00 00:16:04 terms of making of doing like what do
00:16:02 00:16:06 you actually do for them
00:16:04 00:16:09 um as you get going
00:16:06 00:16:12 okay uh so first thing is we provide
00:16:09 00:16:16 quality work and at the lower prices uh
00:16:12 00:16:18 the price is also a plus Factor here uh
00:16:16 00:16:20 secondly books should be timely ready
00:16:18 00:16:25 and so that we can prepare the reports
00:16:20 00:16:27 and we can be on top of it so secondly
00:16:25 00:16:30 the reports are on available timely
00:16:27 00:16:33 third the difference of timing that also
00:16:30 00:16:35 is very uh beneficial for us and as well
00:16:33 00:16:37 as for you guys so when you're sleeping
00:16:35 00:16:39 here we are working so there is someone
00:16:37 00:16:42 or the other who is on your books
00:16:39 00:16:42 working for you
00:17:05 00:17:11 how can we increase more profits and
00:17:08 00:17:12 lower the cost yeah so and I love that
00:17:11 00:17:15 so plus you guys are Chartered
00:17:12 00:17:17 Accountants like just you know folks um
00:17:15 00:17:21 I I tok to scores of accountants every
00:17:17 00:17:22 week and some of you are like your side
00:17:21 00:17:25 hustle bookkeepers and you've been doing
00:17:22 00:17:26 this and by golly um you know how to do
00:17:25 00:17:28 bookkeeping but you might not
00:17:26 00:17:31 necessarily be like CPA caliber
00:17:28 00:17:32 financial report type of person you
00:17:31 00:17:34 you've learned enough maybe in your
00:17:32 00:17:36 courses or whatever it is and there's no
00:17:34 00:17:37 denigration to to what you're bringing
00:17:36 00:17:39 to the table I think you're fantastik
00:17:37 00:17:42 but these folks these folks know their
00:17:39 00:17:43 stuff um they're doing this for KPMG
00:17:42 00:17:44 they're doing this for the big four and
00:17:43 00:17:47 that's not like an official like
00:17:44 00:17:49 statement don't call me KPMG but these
00:17:47 00:17:52 folks have been working for the big four
00:17:49 00:17:53 accounting firms bringing High Caliber
00:17:52 00:17:55 financial statements financial reporting
00:17:53 00:17:57 and bookkeeping and when we were walking
00:17:55 00:17:59 through and we'll do some other videos
00:17:57 00:18:00 about this but there's a sweet package
00:17:59 00:18:01 that you guys have kind of put together
00:18:00 00:18:03 to make sure that you're not only doing
00:18:01 00:18:04 their books accurately you're doing
00:18:03 00:18:06 their books but there's a great
00:18:04 00:18:08 onboarding process and that's what I do
00:18:06 00:18:10 want to dive in here about what I know
00:18:08 00:18:12 are some of the the problems but I do
00:18:10 00:18:13 want to frame up what I know to be
00:18:12 00:18:16 valuables because
00:18:13 00:18:17 um so so basically you guys will do
00:18:16 00:18:19 everything you don't do the tax
00:18:17 00:18:21 preparation but you can help them with
00:18:19 00:18:23 some of the process about asking clients
00:18:21 00:18:24 in a way you almost serve as like a
00:18:23 00:18:27 virtual accountant to help their
00:18:24 00:18:29 processes again I think leveraging a tax
00:18:27 00:18:31 Dome or a canopy software
00:18:29 00:18:32 um some sort of Erp built for an
00:18:31 00:18:34 accounting firm is really going to help
00:18:32 00:18:35 with that you know they can go through
00:18:34 00:18:38 and make sure that everything's all set
00:18:35 00:18:39 up and they will learn with you but uh I
00:18:38 00:18:41 do want to tok about some of the
00:18:39 00:18:43 difficulties and for those of you that
00:18:41 00:18:44 are indian-based accountants I want you
00:18:43 00:18:46 to know some of the tensions that are at
00:18:44 00:18:48 play because my hope and I genuinely
00:18:46 00:18:52 mean this guys there is huge opportunity
00:18:48 00:18:53 entrepreneurship is is such an
00:18:52 00:18:55 opportunity here in the United States
00:18:53 00:18:57 accountants don't need to be working for
00:18:55 00:19:00 these gigantik firms with huge overhead
00:18:57 00:19:03 that are archaic in what they do you can
00:19:00 00:19:04 build lean super valuable effective
00:19:03 00:19:06 businesses that aren't just good for you
00:19:04 00:19:08 but that actually bring better solutions
00:19:06 00:19:09 to small businesses and I think in the
00:19:08 00:19:11 small business realm right now is where
00:19:09 00:19:12 all the opportunity is
00:19:11 00:19:14 um if you look at what's happening and
00:19:12 00:19:16 it's a little bit tied to the tik
00:19:14 00:19:18 Market small businesses are starting to
00:19:16 00:19:19 thrive in a way that they they used to
00:19:18 00:19:21 in the past but now it's really
00:19:19 00:19:23 happening and they need accountants they
00:19:21 00:19:26 need people to protect them against the
00:19:23 00:19:28 IRS they need to be able to scale along
00:19:26 00:19:29 the population growth that we see and
00:19:28 00:19:32 I'm sure
00:19:29 00:19:33 um that's a whole other subject but
00:19:32 00:19:36 um the idea here I just want to hit on
00:19:33 00:19:37 this is that you can attract these types
00:19:36 00:19:39 of clients but you have to position
00:19:37 00:19:41 value so the only way you can get
00:19:39 00:19:42 clients like this here in the U s is you
00:19:41 00:19:44 have to do something that Most
00:19:42 00:19:47 accountants are not very good at you
00:19:44 00:19:49 have to do proactive prospecting to get
00:19:47 00:19:51 enough people into your your sales
00:19:49 00:19:54 process which the sales process I
00:19:51 00:19:56 recommend is that you you call people
00:19:54 00:19:58 you run marketing you have funnels you
00:19:56 00:20:00 do everything possible to confront as
00:19:58 00:20:02 many people and you actually are going
00:20:00 00:20:04 to have to confront about 20 000 people
00:20:02 00:20:06 with the idea of having a meeting with
00:20:04 00:20:07 you then once you confront them you're
00:20:06 00:20:09 going to have an actual connect meeting
00:20:07 00:20:10 with them that's usually a book meeting
00:20:09 00:20:12 and then from there you're going to do
00:20:10 00:20:14 an analysis and then after you do the
00:20:12 00:20:15 analysis of finding out what their taxes
00:20:14 00:20:16 and their bookkeeping looks like you're
00:20:15 00:20:18 going to do a proposal about what it
00:20:16 00:20:20 would cost and before you ever show The
00:20:18 00:20:22 Proposal you want to show them the
00:20:20 00:20:23 identified tax savings you find you
00:20:22 00:20:24 don't need to give them the exact tax
00:20:23 00:20:25 plan but you want to tok a little bit
00:20:24 00:20:26 about what you found in the S Corp what
00:20:25 00:20:28 you found at hiring your kids or
00:20:26 00:20:30 whatever that is the top level stuff
00:20:28 00:20:32 then you want to go into the value of a
00:20:30 00:20:34 staff alternative you have to hit on if
00:20:32 00:20:36 you hire Patty part-timer it's going to
00:20:34 00:20:37 cost you this third you want to show
00:20:36 00:20:39 them everything they get and this is
00:20:37 00:20:40 kind of the transition I want to make
00:20:39 00:20:43 because this is going to translate
00:20:40 00:20:45 position in accountants I'm teaching how
00:20:43 00:20:47 to do this you're learning how to
00:20:45 00:20:48 position this in front of business
00:20:47 00:20:51 owners who don't give a hoot it's they
00:20:48 00:20:53 just want lower my taxes do my taxes do
00:20:51 00:20:54 my books and help me scale my business
00:20:53 00:20:57 that's all they want
00:20:54 00:20:58 um so what's hard is like you have to
00:20:57 00:21:00 keep it simple because they don't they
00:20:58 00:21:02 don't care they just wanna they want
00:21:00 00:21:05 that monkey off their back and thrown on
00:21:02 00:21:07 yours to handle and then you want to do
00:21:05 00:21:09 that with a team that's competent that
00:21:07 00:21:10 actually builds efficiencies and that's
00:21:09 00:21:14 what's cool about what Anka is doing
00:21:10 00:21:16 here is that a critik.com uh they don't
00:21:14 00:21:18 make your life harder because sometimes
00:21:16 00:21:20 when you Outsource you get virtual
00:21:18 00:21:21 assistants you you and you guys aren't
00:21:20 00:21:23 virtual assistants you're Chartered
00:21:21 00:21:25 Accountants a lot of times when you do
00:21:23 00:21:27 that if you don't invest on onboarding
00:21:25 00:21:29 correctly understanding the business
00:21:27 00:21:31 model well you can't actually make life
00:21:29 00:21:32 easier if all if I have somebody who's
00:21:31 00:21:34 gonna I'm gonna Outsource to and I have
00:21:32 00:21:36 to tell them everything to do it's
00:21:34 00:21:38 worthless now it's just a duplication of
00:21:36 00:21:40 time that's not what we're doing but
00:21:38 00:21:41 onboarding is important so here's where
00:21:40 00:21:43 again again the outsourced accounting
00:21:41 00:21:46 model is based on you are going to do
00:21:43 00:21:47 these things and when we build websites
00:21:46 00:21:49 we always bring them to this and it's
00:21:47 00:21:51 because once we start toking if we show
00:21:49 00:21:53 the taxes we show the value of the staff
00:21:51 00:21:56 alternative we show them everything they
00:21:53 00:21:57 get then the pricing is much easier
00:21:56 00:21:59 because by the time you're done here
00:21:57 00:22:00 looking at everything they're going to
00:21:59 00:22:02 get it's pretty good so we're just going
00:22:00 00:22:04 to go through this we've got a couple
00:22:02 00:22:05 about 10 more minutes here on this video
00:22:04 00:22:06 guys so number one they're going to
00:22:05 00:22:08 clean up their books and establish a
00:22:06 00:22:09 perfect chart of accounts and ensure
00:22:08 00:22:10 that they're set up properly number two
00:22:09 00:22:13 they're going to provide an in-depth
00:22:10 00:22:15 analysis of the taxes and financial
00:22:13 00:22:17 situation and accounting system that's
00:22:15 00:22:19 about doing like a a snapshot of where
00:22:17 00:22:21 they are financially and just kind of
00:22:19 00:22:22 assess the overall Situation Number
00:22:21 00:22:24 Three you're going to create a
00:22:22 00:22:25 comprehensive tax reduction plan of the
00:22:24 00:22:26 current year in the future year you're
00:22:25 00:22:27 going to create a tax plan number four
00:22:26 00:22:29 you're going to provide excellent
00:22:27 00:22:31 bookkeeping throughout the month
00:22:29 00:22:34 um oh tied to this tax plan one you're
00:22:31 00:22:35 going to do the tax plan and you're
00:22:34 00:22:36 going to implement the tax plan like
00:22:35 00:22:38 once they sign up
00:22:36 00:22:39 um you're going to do bookkeeping every
00:22:38 00:22:40 month you're going to do it right you're
00:22:39 00:22:42 going to do it ahead of time you're
00:22:40 00:22:43 you're going to be prompt then you're
00:22:42 00:22:45 going to set up the best payroll for
00:22:43 00:22:47 their solution whatever that looks like
00:22:45 00:22:50 again ADP connect with us we have an
00:22:47 00:22:51 offer for you for ADP and then you will
00:22:50 00:22:53 either run the payroll for you or just
00:22:51 00:22:55 help you and your staff do it but you'll
00:22:53 00:22:57 help onboard new clients you'll help
00:22:55 00:22:59 them with their 1099s or W2s or w9s all
00:22:57 00:23:01 of those annoying pieces of paperwork as
00:22:59 00:23:02 an accountant you'll help that business
00:23:01 00:23:03 owner with it then you're going to pay
00:23:02 00:23:05 in their taxes throughout the year
00:23:03 00:23:06 according to the tax plan which
00:23:05 00:23:07 eliminates
00:23:06 00:23:09 um year-end surprises so that you never
00:23:07 00:23:11 overpay or build up a huge tax bill or
00:23:09 00:23:13 get a big tax return and give the IRS a
00:23:11 00:23:14 free loan
00:23:13 00:23:16 um we're going to provide monthly or
00:23:14 00:23:17 quarterly reports and management
00:23:16 00:23:19 dashboards for key performance
00:23:17 00:23:22 indicators we'll meet before the year
00:23:19 00:23:23 end to make the big tax mitigation
00:23:22 00:23:25 decisions around Investments and
00:23:23 00:23:27 purchases should you buy a new excavator
00:23:25 00:23:29 before you're in quarter four is fun for
00:23:27 00:23:31 us to do B2B stuff we're just bringing
00:23:29 00:23:34 in the rain and so are my accountants
00:23:31 00:23:36 and so is every sales person that calls
00:23:34 00:23:37 on businesses so you're going to help
00:23:36 00:23:38 them make those decisions before the
00:23:37 00:23:39 year end then you're going to close up
00:23:38 00:23:41 the books at the end of the year perform
00:23:39 00:23:43 high levels you you're in reporting then
00:23:41 00:23:45 you're going to make the tax season a
00:23:43 00:23:46 breeze do their taxes and help them
00:23:45 00:23:49 build tax efficient wealth so the reason
00:23:46 00:23:51 why I'm bringing that up is Ankara and a
00:23:49 00:23:54 Critik have built a service model that
00:23:51 00:23:56 helps you do a whole bunch of that now
00:23:54 00:23:59 to be fair every state has a little bit
00:23:56 00:24:00 different tax situation and whatnot but
00:23:59 00:24:02 um
00:24:00 00:24:03 that's what they've done and I'm really
00:24:02 00:24:06 impressed with what I've seen the
00:24:03 00:24:08 clients that they have so far based in
00:24:06 00:24:10 the US are having an outstanding time
00:24:08 00:24:12 and now I just want to tok a little bit
00:24:10 00:24:14 about the barriers but Ankara is there
00:24:12 00:24:16 anything that you'd bring up there I'm
00:24:14 00:24:18 drinking coffee it's morning time here
00:24:16 00:24:20 for me I'm going a million miles an hour
00:24:18 00:24:24 but what pops up in your head as I frame
00:24:20 00:24:24 all that up and how you support that
00:24:25 00:24:30 um the way you're putting it up and
00:24:27 00:24:33 doing it it's amazing and
00:24:30 00:24:34 it's like I do it every day all day no
00:24:33 00:24:38 matter
00:24:34 00:24:39 so let's go that works so that that's
00:24:38 00:24:40 the other thing there's a humility in
00:24:39 00:24:43 Ankara
00:24:40 00:24:45 um High Caliber Chartered Accountants um
00:24:43 00:24:47 need to is sharp too and unfortunately
00:24:45 00:24:50 knee two's and I are here because
00:24:47 00:24:52 um she got punked with her tiknology at
00:24:50 00:24:54 the last minute so um and I kind of had
00:24:52 00:24:56 to wait for my my monster kids I have
00:24:54 00:24:59 four kids they're great I love them so
00:24:56 00:25:00 much 11 to 4 years old and uh in the
00:24:59 00:25:02 mornings it sounds like a stampede of
00:25:00 00:25:04 Buffalo are coming through my house so
00:25:02 00:25:05 um I kind of had to wait till that was
00:25:04 00:25:07 done before we did this meeting but
00:25:05 00:25:08 here's I'm going to tok about a couple
00:25:07 00:25:10 of barriers and a couple of tips for
00:25:08 00:25:12 other Indian based accountants and this
00:25:10 00:25:13 is based off of what Ankara is actually
00:25:12 00:25:15 doing she's working through these
00:25:13 00:25:16 barriers so you can rest assured that
00:25:15 00:25:18 you're gonna have somebody committed to
00:25:16 00:25:21 this and it's a process folks anytime
00:25:18 00:25:23 you hire an employee it's a process you
00:25:21 00:25:24 have to get them onboarded each one of
00:25:23 00:25:26 you accountants I know this to be true
00:25:24 00:25:28 each one of you do tax returns different
00:25:26 00:25:30 each one of you actually do accounting
00:25:28 00:25:31 quite differently from each other in
00:25:30 00:25:34 fact when I used to be selling and just
00:25:31 00:25:36 like dominating my competitors down here
00:25:34 00:25:39 we would get tax returns and we're like
00:25:36 00:25:42 how is it possible to have this much
00:25:39 00:25:44 diversity in books and in taxes you know
00:25:42 00:25:46 we close 150 clients by the time I was
00:25:44 00:25:48 done and left Nuance Financial but I had
00:25:46 00:25:51 done analysis on about 400 different
00:25:48 00:25:54 people like actually ran ran the up
00:25:51 00:25:57 front and not everybody closes and
00:25:54 00:25:59 you're diverse so it's a process no
00:25:57 00:26:01 matter what as much as the language of
00:25:59 00:26:03 accounting is universal which is what we
00:26:01 00:26:05 rely on math as math facts are our
00:26:03 00:26:07 friends and we want to make sure that we
00:26:05 00:26:10 align all of their financials to that
00:26:07 00:26:11 there's a lot of diversity but they are
00:26:10 00:26:12 committed to getting through these
00:26:11 00:26:14 barriers that I want to hit on and I
00:26:12 00:26:15 don't have cool sides for this this is
00:26:14 00:26:16 more we've been thinking so I'm going to
00:26:15 00:26:18 dive in a little bit
00:26:16 00:26:19 um so I'm just going to be frank about
00:26:18 00:26:21 this uh and there is a little bit of
00:26:19 00:26:22 story so here in my new neighborhood
00:26:21 00:26:25 that I live
00:26:22 00:26:27 um here in the Twin Cities I have a
00:26:25 00:26:29 wonderful community of Indian immigrants
00:26:27 00:26:31 they work for a lot of the corporations
00:26:29 00:26:34 around here highly capable amazing
00:26:31 00:26:36 family people that I absolutely
00:26:34 00:26:37 genuinely love
00:26:36 00:26:40 um and I have a lot of uh I have
00:26:37 00:26:42 Pakistani neighbors I have um Indian
00:26:40 00:26:44 neighbors I have all sorts of fun
00:26:42 00:26:46 diversity and as I've gotten to know
00:26:44 00:26:49 their families and gotten to know their
00:26:46 00:26:51 different holidays and everything
00:26:49 00:26:52 um there is just a frankness that I've
00:26:51 00:26:54 even learned from my neighbors that they
00:26:52 00:26:57 have to deal with when they're working
00:26:54 00:26:59 within their businesses here and the
00:26:57 00:27:02 first one is is that there is a
00:26:59 00:27:03 difference in language in terms of um
00:27:02 00:27:05 like the there's some communication
00:27:03 00:27:06 barriers right so
00:27:05 00:27:07 um
00:27:06 00:27:11 and tied to that are some other things
00:27:07 00:27:14 but like it I know that Indians often
00:27:11 00:27:16 write perfect English but if you were to
00:27:14 00:27:17 tok to a Minnesotan versus somebody
00:27:16 00:27:22 from
00:27:17 00:27:24 um Alabama y'all we sound and speak very
00:27:22 00:27:26 differently as does every region I've
00:27:24 00:27:27 learned that so much so that a billion
00:27:26 00:27:29 people in India actually speak different
00:27:27 00:27:31 languages like we're all in the same
00:27:29 00:27:33 language barrier um here
00:27:31 00:27:36 um but one of the the little things that
00:27:33 00:27:38 happen is that our sentence structure
00:27:36 00:27:40 the way we generally speak is quite
00:27:38 00:27:45 informal if you were to write down the
00:27:40 00:27:46 way we speak it's quite poor and uh and
00:27:45 00:27:48 also um there's a little bit of
00:27:46 00:27:50 connection between British English
00:27:48 00:27:53 versus us-based English some of the
00:27:50 00:27:54 systems are are a little bit different
00:27:53 00:27:57 um so there's a little difference in in
00:27:54 00:27:58 structures of sentences and I'm just
00:27:57 00:27:59 hopping off of my list that I made over
00:27:58 00:28:01 here but
00:27:59 00:28:03 um the other challenge is that the
00:28:01 00:28:05 dialect is different so when you're
00:28:03 00:28:07 working with an indian-based accountant
00:28:05 00:28:10 any accountants you have to work very
00:28:07 00:28:14 hard to make sure that you speak in in a
00:28:10 00:28:17 Cadence that's often slowed down and and
00:28:14 00:28:20 just elongate your words sometimes when
00:28:17 00:28:22 a Minnesotan will say Minnesota we say
00:28:20 00:28:24 it quite long like hilariously long
00:28:22 00:28:27 right it sounds like comical even to
00:28:24 00:28:29 other people in the U.S and somehow an
00:28:27 00:28:31 Indian will say it like it's like
00:28:29 00:28:35 Minnesotan and it goes short and quick
00:28:31 00:28:37 and it's no shot but this is an honest
00:28:35 00:28:39 assessment if if you want to work with
00:28:37 00:28:42 Americans you need to know that
00:28:39 00:28:45 communication it it it really is a
00:28:42 00:28:47 difficult thing sometimes and the key is
00:28:45 00:28:49 you can't get frustrated both parties
00:28:47 00:28:51 have to make sure that you're committed
00:28:49 00:28:53 to making it work be honest if you
00:28:51 00:28:56 didn't catch it now the other thing
00:28:53 00:28:58 working against this is in the 90s what
00:28:56 00:29:00 happened was a lot of our direct to
00:28:58 00:29:03 Consumer companies like in cable
00:29:00 00:29:06 television and in the Telecommunications
00:29:03 00:29:09 realm started to Outsource to India
00:29:06 00:29:11 India very early and Indians were
00:29:09 00:29:15 capable but there was a disconnect
00:29:11 00:29:19 between the U.S based customer base and
00:29:15 00:29:21 the communication style and and I don't
00:29:19 00:29:22 think that corporations knew how
00:29:21 00:29:26 important it was so there was a cynicism
00:29:22 00:29:28 that got instilled into Americans as
00:29:26 00:29:30 soon as they find out that they're
00:29:28 00:29:32 working with somebody who's overseas oh
00:29:30 00:29:34 you're from India you outsourced the
00:29:32 00:29:36 Indian it's no shot at anyone that finds
00:29:34 00:29:38 that to be difficult because it
00:29:36 00:29:39 certainly is it's hard for my
00:29:38 00:29:42 grandmother if my grandmother were
00:29:39 00:29:45 visiting with somebody who who requires
00:29:42 00:29:47 more calories to listen to it's over it
00:29:45 00:29:49 ain't happening she's a great woman but
00:29:47 00:29:51 it's not happening right and so what has
00:29:49 00:29:53 happened over the years is there's a
00:29:51 00:29:55 little bit of cynicism but I've watched
00:29:53 00:29:58 documentaries and learned how
00:29:55 00:30:00 indian-based Talent have gone in and
00:29:58 00:30:02 worked really hard on that but you have
00:30:00 00:30:04 to be frank about that we need to be
00:30:02 00:30:06 very intentional about both parties
00:30:04 00:30:08 being patient both parties were working
00:30:06 00:30:10 on bringing Clarity to communication
00:30:08 00:30:12 understand that dialect and even just
00:30:10 00:30:15 frequency of your dialect
00:30:12 00:30:17 um can be difficult but so number one
00:30:15 00:30:18 that's the first major barriers just the
00:30:17 00:30:20 communication barrier you have to work
00:30:18 00:30:21 at it and
00:30:20 00:30:24 um for all of you Indian accountants out
00:30:21 00:30:26 there and I just want you to know it is
00:30:24 00:30:28 really hard for us to understand what
00:30:26 00:30:31 you're saying sometimes and that's fine
00:30:28 00:30:33 you you the more you work on that and
00:30:31 00:30:36 the more you spread out your words and
00:30:33 00:30:38 keep your Cadence and and it's hard hats
00:30:36 00:30:40 off to you like it's almost not fair
00:30:38 00:30:42 that we put that burden on you guys but
00:30:40 00:30:44 that you come here and take our strong
00:30:42 00:30:46 dollar there's opportunity for you right
00:30:44 00:30:48 but I just want to be frank about this
00:30:46 00:30:50 number one is the communication barrier
00:30:48 00:30:52 is hard number two there are trust
00:30:50 00:30:54 barriers right so we need to trust that
00:30:52 00:30:56 you're not fraudulent that you're not a
00:30:54 00:30:59 bad player and that you'll deliver on
00:30:56 00:31:01 time good results and that the negative
00:30:59 00:31:04 trade-offs of onboarding you and working
00:31:01 00:31:06 with you will never outweigh the
00:31:04 00:31:08 positive benefits of offshoring to you
00:31:06 00:31:09 like if if we choose to work with you if
00:31:08 00:31:11 you're going to come in and help an
00:31:09 00:31:13 accountant and this is what Ankara has
00:31:11 00:31:14 absolutely been committed to working
00:31:13 00:31:17 through with our current clients and
00:31:14 00:31:18 it's not been a problem is that getting
00:31:17 00:31:20 over these trust barriers but you need
00:31:18 00:31:21 to know that these trust barriers exist
00:31:20 00:31:24 so we need to understand that you're not
00:31:21 00:31:26 a fraud we need to understand that you
00:31:24 00:31:27 deliver excellent outcomes like how do
00:31:26 00:31:30 we know your accounting is any good you
00:31:27 00:31:31 can't it's not a matter of telling us
00:31:30 00:31:32 you have to show that you're credible
00:31:31 00:31:34 and I want to tok a little bit about
00:31:32 00:31:36 that you need to show that you're easy
00:31:34 00:31:37 to work with like you can't like there
00:31:36 00:31:39 needs to be excellent customer service
00:31:37 00:31:41 you can't just be eager to cheaply
00:31:39 00:31:44 Outsource everything to us
00:31:41 00:31:45 you need to actually like be great to
00:31:44 00:31:48 work with another thing is
00:31:45 00:31:50 is there recourse if things go poorly
00:31:48 00:31:52 like one of the things that happens is
00:31:50 00:31:54 like okay so I send you money what
00:31:52 00:31:55 happens if you just run away with it I
00:31:54 00:31:57 just had the same conversation with
00:31:55 00:31:58 someone here in the U.S if we can't
00:31:57 00:32:01 establish that you're a credible
00:31:58 00:32:04 business we can't find licenses we can't
00:32:01 00:32:06 validate good real like that you're real
00:32:04 00:32:09 um there's a whole industry of fraud out
00:32:06 00:32:10 there in fact that's probably the
00:32:09 00:32:13 biggest problem when it comes to trust
00:32:10 00:32:15 is that I'm on hundreds of websites and
00:32:13 00:32:18 I see every morning we wake up and we
00:32:15 00:32:19 get called all day by indian-based
00:32:18 00:32:22 Talent
00:32:19 00:32:24 um or even there's overseas
00:32:22 00:32:25 um people trying to work hard and get
00:32:24 00:32:27 clients but there's a lot of folks out
00:32:25 00:32:30 there trying to manipulate and and and
00:32:27 00:32:32 just mess with you so we're always
00:32:30 00:32:34 wondering is is there recourse and there
00:32:32 00:32:36 is recourse I've come to find out that
00:32:34 00:32:38 there are things that you can do another
00:32:36 00:32:40 question is are you reliable how do we
00:32:38 00:32:41 know that you're reliable sure you can
00:32:40 00:32:43 do accounting but can you do it
00:32:41 00:32:46 consistently over time because we're
00:32:43 00:32:49 about to stake our reputation with our
00:32:46 00:32:51 clients on your ability to do this right
00:32:49 00:32:53 that's the big deal if I'm going to
00:32:51 00:32:55 Outsource to you are you going to
00:32:53 00:32:56 operate in such a manner that my
00:32:55 00:32:58 reputation can be staked upon the
00:32:56 00:32:59 outcomes of that work that's a big thing
00:32:58 00:33:01 so
00:32:59 00:33:02 um that that's kind of the second major
00:33:01 00:33:04 barrier is the trust barrier we need to
00:33:02 00:33:06 get through those trust barriers and
00:33:04 00:33:08 there's things that that do that a
00:33:06 00:33:10 couple other things that wreck wreck
00:33:08 00:33:12 trust okay so I'm just going to kind of
00:33:10 00:33:14 hit on a couple of these so number one
00:33:12 00:33:16 is that UNS all unsolicited
00:33:14 00:33:18 communication is met with suspicion okay
00:33:16 00:33:20 if you just call us and you want to say
00:33:18 00:33:22 I I admire the Hustle but if I can't
00:33:20 00:33:24 find a trace of you and we've tried to
00:33:22 00:33:25 work with this on their website at
00:33:24 00:33:28 accredit.com to make sure that we show
00:33:25 00:33:30 how how real you are that's an important
00:33:28 00:33:33 thing because any unsolicited messages
00:33:30 00:33:36 especially from a foreign country I mean
00:33:33 00:33:38 it it's we're so suspicious of it
00:33:36 00:33:39 um we also have fraudulent activity so
00:33:38 00:33:42 even our corporations and tiknology
00:33:39 00:33:43 will shut you down if you try and do it
00:33:42 00:33:45 um we have no recourse if the agreement
00:33:43 00:33:48 falls through that's a problem Americans
00:33:45 00:33:49 are are aware of Fraud and corruption in
00:33:48 00:33:51 foreign countries that's another thing
00:33:49 00:33:53 we get it we've watched documentaries on
00:33:51 00:33:55 it we've seen it we've heard suspicions
00:33:53 00:33:57 of it it's been in the news we know that
00:33:55 00:34:01 that corruption
00:33:57 00:34:04 and fraud is rot in in nationally here
00:34:01 00:34:06 in the US we have corruption as well but
00:34:04 00:34:08 it's totally it's not anywhere near the
00:34:06 00:34:09 levels that we see internationally and
00:34:08 00:34:12 that's no shot at International people
00:34:09 00:34:14 it's just a fact of the matter
00:34:12 00:34:16 um the other problem is we ignore you
00:34:14 00:34:19 because we just get bombarded business
00:34:16 00:34:21 owners get bombarded by Outreach I
00:34:19 00:34:23 admire the hustle I admire the calling
00:34:21 00:34:25 when you guys call and reach out and try
00:34:23 00:34:26 to build businesses I admire that one of
00:34:25 00:34:29 the things that Ankara did is she
00:34:26 00:34:31 persisted gently and was easy to deal
00:34:29 00:34:32 with and never got in you know entitled
00:34:31 00:34:35 or rude or anything like that and it was
00:34:32 00:34:36 just a fantastik interaction throughout
00:34:35 00:34:38 the whole thing and then there's just
00:34:36 00:34:40 there's a mistrust of anything that's
00:34:38 00:34:43 unsolicited so again if we were to recap
00:34:40 00:34:46 we stake our reputation on you
00:34:43 00:34:48 um onboarding offshore can be difficult
00:34:46 00:34:49 that's the next thing
00:34:48 00:34:50 sorry I'm kind of hopping around there
00:34:49 00:34:51 but
00:34:50 00:34:54 um
00:34:51 00:34:57 if we're gonna onboard a new accounting
00:34:54 00:34:59 offshore Solution that's a lot of time
00:34:57 00:35:01 that's a lot of effort and what I know
00:34:59 00:35:02 nitu and Ankara are committed to and and
00:35:01 00:35:05 if you want to be a great Indian
00:35:02 00:35:07 offshore solution for a us-based
00:35:05 00:35:10 accounting firm you have got to work
00:35:07 00:35:13 really hard and doing homework and doing
00:35:10 00:35:15 training to make sure that onboarding is
00:35:13 00:35:17 smooth understand the processes I think
00:35:15 00:35:19 you should lean into a tax Dome or a
00:35:17 00:35:21 canopy again there's a link
00:35:19 00:35:22 um and I make like a hundred bucks if
00:35:21 00:35:26 you buy it
00:35:22 00:35:27 um but using an Erp so that you have
00:35:26 00:35:30 this standardized communication you have
00:35:27 00:35:32 safe communication it's all from one
00:35:30 00:35:35 point can they like help send reminders
00:35:32 00:35:36 like that all of that onboarding to for
00:35:35 00:35:38 an accountant to come to you and show
00:35:36 00:35:40 you their systems and have you become
00:35:38 00:35:42 part of it if they have to undo that
00:35:40 00:35:43 that's a lot of wasted time and it's
00:35:42 00:35:46 very difficult if they have to
00:35:43 00:35:48 micromanage much of what you're doing
00:35:46 00:35:52 that's terribly unhelpful okay
00:35:48 00:35:54 micromanagement is makes Outsourcing and
00:35:52 00:35:56 using virtual assistants or outsourced
00:35:54 00:35:57 accountants or anybody even if you have
00:35:56 00:35:59 to micromanage as an employee that's
00:35:57 00:36:01 sitting right next to you is pointless
00:35:59 00:36:03 if we have to monitor everything and
00:36:01 00:36:06 tell you what to do that stinks you need
00:36:03 00:36:08 somebody who knows how to act that lives
00:36:06 00:36:11 by values and this is where like anybody
00:36:08 00:36:13 I interact with they're trustworthy
00:36:11 00:36:16 competent enjoyable and rigorous
00:36:13 00:36:17 trustworthy competent enjoyable and
00:36:16 00:36:19 rigorous and I could give you speeches
00:36:17 00:36:21 on that but as I've been toking to
00:36:19 00:36:23 Ankara nitu there are certainly these
00:36:21 00:36:25 types of people that have that their
00:36:23 00:36:26 their fun they interact with they they
00:36:25 00:36:28 take their work serious but they're not
00:36:26 00:36:30 too serious about themselves they they
00:36:28 00:36:32 work really hard at the onboarding
00:36:30 00:36:33 process to serve you they have a
00:36:32 00:36:35 servant's heart which I think is great
00:36:33 00:36:36 because what that does is it makes it
00:36:35 00:36:38 easy to do business but that whole if
00:36:36 00:36:40 you have to micromanage an outsourced
00:36:38 00:36:41 accountant by golly it's not helpful no
00:36:40 00:36:42 one's going to want to sign up with you
00:36:41 00:36:45 if you're in any based accountant trying
00:36:42 00:36:47 to do that client communication and the
00:36:45 00:36:50 process is critikal okay with your
00:36:47 00:36:53 client communication using a tool so
00:36:50 00:36:55 that they can actually help you remind
00:36:53 00:36:57 your clients and do all that tax Dome
00:36:55 00:36:59 has a sweet system for that but that's
00:36:57 00:37:01 critikal so as an outsource-based
00:36:59 00:37:03 accountant I would go learn tax Dome I
00:37:01 00:37:05 would go learn canopy those are two erps
00:37:03 00:37:06 that are great for that so that you can
00:37:05 00:37:08 help with communication and help with
00:37:06 00:37:10 process as much as you can actually
00:37:08 00:37:12 onboard that now you guys are great you
00:37:10 00:37:14 have your own tools as well you have
00:37:12 00:37:16 spreadsheets and you have some great
00:37:14 00:37:18 tools but the more that you guys can
00:37:16 00:37:19 bring that to to bear on the whole thing
00:37:18 00:37:21 the better so
00:37:19 00:37:23 um you need to show your credentials so
00:37:21 00:37:24 this one's out to other indian-based
00:37:23 00:37:27 accountants
00:37:24 00:37:28 we need to see you we want to know your
00:37:27 00:37:30 credentials we want to see actual Google
00:37:28 00:37:32 reviews we want to see you listed on all
00:37:30 00:37:34 of the different listings that are out
00:37:32 00:37:36 there you have to show up in a huge way
00:37:34 00:37:38 it's the same coaching that I give to a
00:37:36 00:37:39 local business owner here you have to
00:37:38 00:37:41 show up you have to have a Facebook page
00:37:39 00:37:43 an Instagram page a YouTube channel
00:37:41 00:37:45 you'll want to get a LinkedIn business
00:37:43 00:37:46 page you want to get those filed you
00:37:45 00:37:48 want a real address you want to show
00:37:46 00:37:50 pictures of you and your team you want
00:37:48 00:37:52 to get actual reviews and testimonials
00:37:50 00:37:53 from your current clients you need to
00:37:52 00:37:55 operate in such a manner that they're
00:37:53 00:37:57 willing to do that if we cannot find out
00:37:55 00:37:59 that you're a credible
00:37:57 00:38:01 solution we don't want to do business
00:37:59 00:38:04 with you right and what's beautiful and
00:38:01 00:38:05 even that you know that's part of why I
00:38:04 00:38:07 waited so long to have Ankara on here is
00:38:05 00:38:09 because I just wanted to find out is she
00:38:07 00:38:11 credible and from what I can tell I mean
00:38:09 00:38:13 I haven't been over there to do stuff
00:38:11 00:38:16 but from everything that I've operated
00:38:13 00:38:18 with nitu and Anka there absolutely
00:38:16 00:38:20 um there so uh how can recourse be
00:38:18 00:38:21 pursued if there's fraud that's another
00:38:20 00:38:24 one you got to make sure that you just
00:38:21 00:38:26 figure out what actually happens
00:38:24 00:38:27 um and last this is what we got to tok
00:38:26 00:38:30 about
00:38:27 00:38:32 does your offering match what the
00:38:30 00:38:34 accountant is matching so again A lot of
00:38:32 00:38:36 times I'm coaching people to do this
00:38:34 00:38:38 outsourced accounting model what's been
00:38:36 00:38:40 really cool is Ankara and uh need to
00:38:38 00:38:42 have worked to craft their service model
00:38:40 00:38:44 to be a small portion of the monthly
00:38:42 00:38:46 billing depending on the scaling so that
00:38:44 00:38:48 there's alignment there alignment for
00:38:46 00:38:50 them and alignment for you and Alignment
00:38:48 00:38:52 to the client so that the expectation to
00:38:50 00:38:54 the client is identikal to what your
00:38:52 00:38:56 firm is going to be on the hook for
00:38:54 00:38:59 which is identikal to what um Nieto and
00:38:56 00:39:00 Ankara are actually going to deploy in
00:38:59 00:39:01 the system
00:39:00 00:39:03 um so we're gonna we're gonna stop here
00:39:01 00:39:05 uh we we've had a lot again go to a
00:39:03 00:39:07 critik.com
00:39:05 00:39:09 um here's a couple little tips again I
00:39:07 00:39:12 want you to use real domains when you're
00:39:09 00:39:13 building if you're an outsourced if
00:39:12 00:39:15 you're supporting accountants and you're
00:39:13 00:39:18 offshore in your Indian base or anywhere
00:39:15 00:39:19 offshore you need to use a real domain
00:39:18 00:39:22 you have to actually have that going you
00:39:19 00:39:23 need to have an authentik website don't
00:39:22 00:39:25 try and be bigger than who you are don't
00:39:23 00:39:27 act like your big go watch Gary
00:39:25 00:39:29 vinerchek he toks about this don't fake
00:39:27 00:39:31 it till you make it be you be exactly
00:39:29 00:39:34 who you are there needs to be continuity
00:39:31 00:39:35 between how you present yourself and who
00:39:34 00:39:37 you absolutely are and then how you
00:39:35 00:39:39 operate in the the more you can bridge
00:39:37 00:39:41 the gap between that the more authentik
00:39:39 00:39:43 trustworth and credible you are make
00:39:41 00:39:45 sure that you have simple branding a
00:39:43 00:39:47 clear logo color continuity that's
00:39:45 00:39:49 important right you have to make sure
00:39:47 00:39:51 that you you look decent but we all know
00:39:49 00:39:52 folks just go out and grab WordPress
00:39:51 00:39:55 templates turn it on they never change
00:39:52 00:39:57 the images they like we get it websites
00:39:55 00:39:59 aren't hard communication on websites is
00:39:57 00:40:01 hard but we need to show that you're
00:39:59 00:40:04 credible we want to have great branding
00:40:01 00:40:07 um it should be a simple business name
00:40:04 00:40:08 that's clear and unique and then you
00:40:07 00:40:10 need to make sure you have citations you
00:40:08 00:40:12 got to open a Google my business you
00:40:10 00:40:16 need to show that you are who you are
00:40:12 00:40:18 Ankara thank you so much I know I didn't
00:40:16 00:40:21 I toked a lot there but it was really
00:40:18 00:40:23 more of like uh we want people to to
00:40:21 00:40:24 reach out and connect with you
00:40:23 00:40:27 um anything that you'd add as we end
00:40:24 00:40:28 here if I want more people to reach out
00:40:27 00:40:30 to you because I believe in your
00:40:28 00:40:32 business I've seen how you act I I've
00:40:30 00:40:35 seen the actual
00:40:32 00:40:36 um professionalism you guys bring I know
00:40:35 00:40:38 what you're doing to help accountants
00:40:36 00:40:39 and I know that the need is dire we need
00:40:38 00:40:41 you but
00:40:39 00:40:43 um any last thoughts that pop up in your
00:40:41 00:40:47 mind or or things that you would bring
00:40:43 00:40:50 up and add to the vast amount of words
00:40:47 00:40:52 big fours are Outsourcing the work to
00:40:50 00:40:55 India then why not small firms yeah
00:40:52 00:40:57 that's my message boom I love it like
00:40:55 00:41:00 And subscribe check out a critik.com
00:40:57 00:41:02 check out tax domain in the descriptions
00:41:00 00:41:04 God bless good luck everybody
00:41:02 00:41:06 um that was an absolute pleasure and uh
00:41:04 00:41:08 check out a critik.com I just want to
00:41:06 00:41:14 make sure that I show that again so it's
00:41:08 00:41:17 a Critik a c c r i t i c a c c r t i
00:41:14 00:41:17 c.com