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Helping a $250K Accounting Firm Get to $1M — Transcript · YTtoTranscript

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Helping a $250K Accounting Firm Get to $1M

MoreMozi · 1,659 words · 8 min read · EN

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Below is the complete, readable transcript of Helping a $250K Accounting Firm Get to $1M by MoreMozi on YouTube. Read the full text, copy any part you need, or generate a transcript for any video with our free tool.

I sell accounting services to real estate entrepreneurs. So, property managers, developers. We're doing 250k this year. We're only 11 months in. Oh, congrats. Thank you. I would like to be at, you know, 100k per month. Cool. Right? Um I think what's stopping me is not enough leads. I've been doing like cold DMs, cold email. And people here told me

to do more of those things, but I'm kind of tapped out. Like it's becoming a mess. >> No, like software and I have a VA that's helping me. Okay. So, I'm not sure what to do to get more leads. >> Yeah. So, uh so you sell to real estate professionals. And we say real estate

you Okay. Um DMs via social media? Yeah, LinkedIn, Instagram. LinkedIn is really what's driving it, I'd say. I also do podcasts, like I guess on podcasts. Uh-huh. >> I've been on four. That's what's gotten me some clients as well. It's really been like a spread across all those things. And so, >> okay though.

Yeah. So, um do you have somebody else who's doing the actual services? Well, yeah, like an offshore team that takes care of 95% of the heavy lifting. >> So, you're just in charge of acquisition. Primarily. Like you need a marketer as well. >> do a lot of fulfillment, like I review the files and everything, but like all

of the heavy lifting, the bookkeeping and everything, that's pretty much taken care of. >> of your time is going towards front end versus back end? Too much on the back end. Okay. >> I'm That's what I'm realizing. You focus on the constraint. I need to do more front end. That was like my main

takeaway from this, but where where on the front end, I'm not sure. Yeah, so um Okay. So, one LinkedIn should be able to allow you to scale more in terms of your outbound efforts. You can go through Sales Navigator and then basically create a I can only do 150 connection messages though. I think you can do

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more. I feel like cof Like there's a way. Yeah. I can I can I can >> capped at another account and then like have it burning out. >> big companies use LinkedIn and they're not like capping at your sales velocity. Do they do cold DMs or do they do ads? No, I know they're not I'm I'm talking

from a DMs perspective. >> Yeah. Um now ads obviously you can scale like pretty straightforward. Um So, okay. There is a solution. I am just not the one who's like giving every day and so I don't know the the click here answer to that. But there is a solution. That being said, in order, I would still go back to

front on this, which is like you have to get more of your time back because right now I can feel Let me just you know, not overstepping. I feel the stress. You know what I mean? Of what's going on. And the good news is this, man. Like it's been 11 months. You have a business doing 250k a year. It's

[ __ ] awesome. That's really cool. So, congrats. But in terms of the way to get customers, if LinkedIn is working really well for you, I I'm very confident that there's a way to do more. But if for some reason the gods of LinkedIn have just banned you from doing this, then running LinkedIn ads might just be

the next best thing. Cuz if all the people are already there, you already know what the targeting is, and you already know what the offer is cuz you can just use the basically the the same structure that you use in the DMs, you just do it at scale via LinkedIn, then that might just be

the kind of the next best bet. You may be able to I Whoever's really good at LinkedIn ads or you may be able to do ads that go to message. Is that true? Can you do that?

There's a way. And you have a will. Okay. >> [laughter] >> Appreciate it. Thank you very much. >> No, but I I say to say like the So, this is a a better meta thing here is that you have so little time and attention. Like this was a 60-second figure-it-out. You know what I mean? Like and I'll bet

you if you had all your time back, you would have figured this out in 1 day. That you could have done more more DMs, but it's like you're barely getting those done. And then it's like it's not coming in fast enough and then you've got fires on the back end. But you're not doing anything wrong.

It's just this is the season. And so, whenever you start a business, you always incur debt. It's something that like it took me a long time to understand this. Every business incurs debt. It's just which debt you want to incur. And so, you will either incur talent debt, like you don't have any

good people, right? You'll incur technological debt. So, you have like no IT systems in place. You'll incur financial debt if you wanted to take money on. And sometimes if you take money on, then it allows you to get the IT infrastructure in place, get talent that you otherwise couldn't afford. But then you have to pay the

financial debt back. So, it's really just which debt do I want to incur and which one do I is easier for me to pay back. And so right now, you've chosen I'm not saying it's wrong to take on technical debt and talent debt as the primary two types of debt. And so, you're you're paying it right now in how

you're working. Does that make sense? Yeah. And so, the stress that you're feeling is normal and it will This may sound terrible, but it will go away at like never. Um And uh it'll just change. >> [laughter] >> You'll just have bigger problems. But yeah, so but I I I just want to like

you're not doing anything wrong. I think there are ways to scale the outbound. In order to do that, you still need to get the back end fixed, which is what we do is we look at a time calendar, we map out all the minutes of the day, we try and block those into what are the what

are the activities that we're doing that have the lowest leverage, give those to somebody else, and then you need to spend it as quickly as possible, you need to get to like 6 hours a day of promotion. Okay. >> And you basically need to keep doing that until you're probably at about between 1 and 3 million a year. And then

you'll have the additional cash flow to be able to bring somebody else in who's high level who can take some of this load off of you. I'm guessing you don't have an operator. No, I need a >> Right. Yeah. But not right now. So, there This is kind of like there's no right way up the mountain. Right. Um

if you This is This will apply to a lot of you. There are like you can see this with math. So, it's not like a like like theory here. Like let's say you're doing a million dollars top line and you have 25% margins. Good business. $250,000 in profit. Okay. Well, if I want to bring

in somebody who's really good to help me out, I have two options. I can either do that person's job and then work 18 hours a day and then still have money so I can feed myself, or I bring that person in have no profit because the cost of somebody who's like that is 180, 200,

whatever, maybe some upside. And then all of a sudden it's like my profit's gone. And so, that's why that period is so terrible because either you're working yourself to death, or your business feels like it's on thin ice because if you hiccup, you lose money. And so, that's why we call it the swamp.

Exactly. So, yeah, you just like the good news is that every entrepreneur has been there before you and you will make it. Thanks. Appreciate it. If you are a business owner and you are not growing as fast as you'd like, I'd like to give you a free gift. So, my team and I put together the 100 million

dollar scaling road map, which is basically 200 hours of us looking over all the portfolio companies we've had and what stages of growth they went through and more importantly where they got stuck and how they got past it. And so, we broke it into these 10 stages and we made this little kind of quiz thing

where if you put in your business information, it'll tell you where you're at and the most important part for you, what to do for each of functions of the business across product, marketing, sales, customer success, recruiting, IT, human resources and finance. And so, no matter what you're struggling with, someone else has already struggled with

it and solved it. And so, I'd like to give you this thing absolutely free. You can go to acquisition.com/roadmap, plug in your business information, and if you want us to actually help you deconstraint the business and you're trying to scale, we'd love to help you out. On the thank you page, you can just

book a call with my team and we will look at the business, see if we can help, and if we can, we'll invite you out to Vegas and we'll do this in person live.