Are you a “Parakeet” Accountant paid to peck at the keyboard all day?
Are you working more “on” the business rather than “in” the business?”
Now, maybe you’re wondering….
“Andrew, what exactly is a “Parakeet?”
I will explain in a minute…
But first I want you to ask yourself, “How can we work less time IN the business where we’re actually doing the accounting, and spend more time working ON the business as an entrepreneur?”
And there are multiple stages that soon-to-be entrepreneurs go through…
Today, I’m going to explain the first stage…
Stage #1: The Parakeet (or typically called the Generalist)
*Charging low fees for monthly services*
Most people that start their businesses in accounting start out as a “Parakeet.” If you don’t have any training, any help, or any mentors, it’s kind of the obvious way to start.
Typically this business is built on word of mouth, networking events, friends, family, and personal connections. You provide really any service that someone will pay for. You could have as many as 30 or more services. How could you possibly know how to do each of those services really well?
When you get into this situation, you’re not only a Generalist on the services you offer, but also the industries you work with.
This really drives low fees.
And the fees are low because, to be honest, the VALUE is low.
It’s very hard to be the best at the services delivered when there are so many different services and so much custom work to be done. Each industry is different and it’s kind of a learning curve with every new client.
So Parakeets generally aren’t respected by their clients and their work is seen as a commodity.
And most of their clients are small.
They’re doing services work only.
There’s no training.
There’s no higher level of value in these services.
Just baseline commodity services.
And most of the companies they’re working with are less than $500,000 a year in annual sales.
Parakeets are typically paid to play $100 a month calculator game.
Just paid to peck at the keyboard like a parakeet.
And it’s a sad story and it’s unfortunate, but if you’re at this level, the good news is that it’s easy to get out of this level.
There’s just one or two key things we need in order to make it beyond the Parakeet stage and get to the Confidant stage.
Make sure you are NOT a Parakeet Accountant and check out this FREE training resource here.