1-800 Accountant is a service dedicated to helping small business owners manage their finances with ease and confidence. By offering personalized accounting solutions, they ensure that business owners can focus on growing their businesses while leaving the complexities of accounting to the experts. Their team of experienced accountants provides a range of services, including bookkeeping, tax preparation, and financial planning, all tailored to meet the unique needs of small businesses.
1-800 Accountant is a service dedicated to helping small business owners manage their finances with ease and confidence. By offering personalized accounting solutions, they ensure that business owners can focus on growing their businesses while leaving the complexities of accounting to the experts. Their team of experienced accountants provides a range of services, including bookkeeping, tax preparation, and financial planning, all tailored to meet the unique needs of small businesses.
1-800-Accountant, a tech-enabled accounting firm focused on small businesses, has taken a rather unique path to growth, relying primarily on organic expansion and strategic acquisitions rather than traditional venture capital funding.
Early Days and Bootstrapping (1999-2019):
- 1999: Founded by Michael Savage, 1-800-Accountant initially focused on providing traditional accounting services to small businesses.
- Organic Growth: The company grew steadily by focusing on customer acquisition and building a strong reputation for its accessible and affordable services.
- Technology Integration: 1-800-Accountant gradually incorporated technology into its operations, developing its own cloud-based bookkeeping software called ClientBooks to enhance efficiency and client experience.
Strategic Acquisitions (2020-Present):
- July 2020: Acquired JobbHopp, a company specializing in accounting services for startups and entrepreneurs. This acquisition expanded 1-800-Accountant’s reach and service offerings.
- Further Acquisitions: While specific details aren’t always publicly disclosed, 1-800-Accountant has continued to pursue strategic acquisitions to expand its market share and capabilities.
Key Takeaways:
- Bootstrapped Growth: 1-800-Accountant has largely relied on bootstrapping and internal resources to fuel its growth, demonstrating a focus on profitability and sustainable expansion.
- Customer-Centric Approach: The company’s success can be attributed to its focus on providing accessible and affordable accounting solutions for small businesses, a segment often underserved by traditional accounting firms.
- Strategic Acquisitions: Acquiring companies like JobbHopp has allowed 1-800-Accountant to expand its service offerings and reach new customer segments, further fueling its growth.
1-800-Accountant’s funding history showcases a company that has successfully grown by focusing on its core strengths: customer service, technology integration, and strategic acquisitions. This approach has enabled them to become a leading provider of accounting solutions for small businesses without relying heavily on external funding.
1-800Accountant was founded by Michael Savage. He launched the company in 1999 with the goal of making accounting services more accessible and affordable for small businesses.
Savage’s vision was to leverage technology to streamline accounting processes and provide virtual solutions that would cater to the needs of entrepreneurs and small business owners.
His leadership and innovative approach have been instrumental in 1-800Accountant’s growth and recognition as a leading provider of virtual accounting services.