SaaS Interviews with CEOs, Startups, Founders
What if An Accounting Firm Was Built Specifically For Young Entrepreneurs? EP 285: Finn Kelly
14 Jun 2016
Chapter 1: What is We Love Numbers and how does it generate revenue?
This is The Top, where I interview entrepreneurs who are number one or number two in their industry in terms of revenue or customer base. You'll learn how much revenue they're making, what their marketing funnel looks like, and how many customers they have. I'm now at $20,000 per top. Five and six million. He is hell-bent on global domination.
Chapter 2: What strategic insights does We Love Numbers offer to entrepreneurs?
We just broke our 100,000-unit soul mark. And I'm your host, Nathan Latka. Top Tribe, you know I don't have a lot of time to waste. That's why I use FreshBooks to send out invoices and make sure I'm collecting my money. To get your free month, go to NathanLatke.com forward slash FreshBooks and enter the top in the How Did You Hear About Us section.
Chapter 3: How does Finn Kelly plan to scale We Love Numbers quickly?
Okay, Top Tribe, this week's winner of the 100 bucks is none other than Derek Rodenbeck. He is an artist and he's looking to increase his revenue. If you want your chance to enter and to win 100 bucks each Monday on the show, simply subscribe to the podcast on iTunes now and then text the word Nathan to 33444 to prove that you did it. Again, text the word Nathan to 33444.
Top Trap, you're listening to episode 285.
Chapter 4: What challenges has We Love Numbers faced with customer churn?
Coming up tomorrow morning, you're going to hear from Madison Wickham. He's a frat guy that takes $2,000 a month side projects to a $10 million a year media company. You're not going to believe how he did it.
okay top tribe good morning good morning good morning our guest today is finn kelly and he's the co-founder and ceo of we love numbers and co-founder of award-winning gen y advisory firm wealth enhancers he's driven by the pursuit to really influence others to live fulfilling lives that they are in total control of free of societal pressures in 2013 finn was selected as one of the 20 australian delegates to attend the g20 yea summit in moscow and again in 2014 as a lead delegate in sydney
He's won a variety of industry awards, including the AMA National Young Manager of the Year, and has been recognized as one of Australia's top 30 entrepreneurs under 33 times.
Chapter 5: How does Finn Kelly's previous experience shape his current business?
Finn, are you ready to take us to the top? Sure, I'm nice and really looking forward to it. All right, let's do this. So first things first, why don't you tell us what We Love Numbers does and how you guys make money?
Brilliant.
Chapter 6: What is the significance of raising capital for We Love Numbers?
So We Love Numbers is what we call smart bookkeeping plus advice for entrepreneurs. We're all about helping entrepreneurs get to know their numbers and use them to make better decisions on how to reach their goals quicker. How we make money is we charge a monthly membership fee for ensuring that all your bookkeeping is done and you're getting the best insights out of your business. Okay.
And so what do you charge for that?
Chapter 7: What role does technology play in the business model of We Love Numbers?
So we have four different packages ranging from $3.95 to $16.95 a month. And then we have some add-ons for payroll and a finance team.
Just to be clear, that's $395 to $1,695? Correct. Okay.
Chapter 8: What advice does Finn Kelly have for young entrepreneurs?
Per month. So can you tell us the story of maybe one of the last client you worked with?
Yeah, definitely. So we've got an awesome business called Heritage Link Brands. They're a wine distributor. They actually import a lot of wine from Africa and they've got a social venture as well. And the founder is Selina Cuff. And she's been running for about 10 years and she's made great progress. But there's a few things which are holding her back. And a lot of it was heritage.
how the actual business was running efficiently behind the scenes, so the actual back engine, and how to actually interpret the numbers to be able to make decisions on how to grow. So what we've done is really gone in and looked at all her different processes.
We've created all these technology systems to actually streamline the numbers management system and then really helped her determine the numbers that she needs to focus on how to grow.
And these are, just to be clear, this is, I'm trying to get a sense of like what role at my last company I would have replaced with We Love Numbers. And it sounds like it would have been the CFO role. Is that accurate?
Well, initially when you're a new startup, yes. But then actually, we actually love working with companies which have CFOs because what we can do then is do all the really great grunt work, analytical work behind the scenes, and then they can actually interpret it more in line with their business.
Like, okay, so I'm a CFO. I'm sending you our general ledger with 2,400 lines of individual credit card transactions from my 13-person team over the month of February 2016. What might be something that me as a CFO sending you that general ledger might ask you guys to do?
So first, we'd be worried if you were sending that general ledger. We want it all set up on technology. So we're fully aligned with Xero at the moment because we think they're the best cloud-based accounting software platform out there. And we would actually set all that so everything's automatic.
We would then put on different add-ons so you could get inventory management, you get point of sale set up. and then we can have their numbers daily. And that's a big focus. So if I press a button, the CFO can know exactly where they stand and they get a customized dashboard to help them focus on the numbers. So then they can actually use them to make decisions in order to achieve their goals.
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