Story of how Reach Accountant made 100 customers
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This is the story of how we made 100 customers
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Story of how Reach Accountant made 100 customers
- 1. Introducing Reach Accountant Accounting Software with Expert Accountants
- 2. Where it all started? THE NEED: After the advent of VAT/ST, SME’s had to finish accounts every month. THE PAIN: A plain accounting software didn’t help. The needed the backing of an Expert Accountant THE MARKET: It looks like there is a whole 20 Lakh SME’s facing the same pain
- 3. Who all got together? THE FOUNDER: Robin , a Chartered Accountant bitten by the entrepreneurship bug THE TEAM: Balaji was willing to find customers, Puhal was willing to code and Praveen was ready to give support. THE ADVISORS: Morpheus Venture Partners, The three musketeers who vowed to be the ray of light through the valley of death.
- 4. This is what they did … Customer: Raises Invoices and does other Basic Stuffs Our Accountant: Finishes your Account and Files Tax Returns Reach Accountant: Maintains Accounts and Stores Records Client’s CA: Views Reports, Authenticates and completes Audit Customer: Views Profitability and OutstandingReports
- 5. They created a product which…
- 6. And sold to… A targeted market of START-UP’s: : Businesses who just got started and had no accounting system whatsoever. SMALL BUSINESSES: Businesses which used the services of a Part-time Accountant or Local C.A’s OTHER BUSINESSES: Professionals, Service Providers and Online Businesses
- 9. They also discovered that… It’s a Painful Problem with a Very Large Market Key Statistics No. of SMB’s: 3.5 Crores (Googled) Growing at: Brisk Pace Filing e-returns: 18.5 Lks (ITD Website) Unit Spend: 50 – 300K p.a Top Cities: Mumbai, Bangalore, Delhi, Chennai, Ahemadabad
- 10. In the first 9 months of operation They managed… 30 Lakhs Annual Revenues 100 customers 15 employees Cash Profitable A semi-automatic accounting software
- 11. An also some Valuable Customer Feedback
- 12. In the next 12 months.. They plan to get … 300 Lakhs Annual Revenues 500 customers 25 employees 10x Profits A fully-automatic accounting software
- 13. And some Really Happy Customers
- 14. If you run a small business and want to free yourself from Accounting Can we discuss over a cup of coffee? I’m reachable at +919841225544