Introduction: From Cubicle to Cloud by Jennifer Brazer (Listen)
From Cubicle to Cloud by Jennifer Brazer is her story of how she developed, built, and scaled a totally cloud-based Client Accounting Services business that serves customers and tax professionals nationwide in the United States. The author is an astute businesswoman who was able to spot the trend of virtualization in bookkeeping services and leverage technology to build a thriving business.
In the book, Jennifer Brazer quotes a friend, who is a lawyer. She took this quote to heart.
“Your hours are your inventory. You only have so many hours in the day, and so much the market will bear for your hourly rate. Hourly rates will limit you. The key is to find a way to make money that is not associated to hourly performance. Sell professional services based on value and performance rather than hourly rate.”
From Cubicle to Cloud is a guidebook for setting up a successful cloud accounting service. It’s ideal for people who are interested in improving or creating cloud-based business services. The author, Jennifer Brazer offers practical advice on how to create your business model leveraging technology, attract and retain talented employees, and grow a profitable, sustainable, and thriving business.
The book is specific to the accounting business, so some examples may not be relevant to you.
Summary of From Cubicle to Cloud by Jennifer Brazer
What do you need to let go to move forward? Which company could be helpful to you in creating your own business model? What can you offer that creates flexibility for your customers?
Subscription Model
How do you price services in advance?
Layer yourself out of the business by pulling back layers and delegating. This allows you to have a self-supporting business. It removes constraints on customer capacity, allowing you to generate more profits in the long run.
Develop a strategy to handle customer complaints. Complaints are great for service improvements. Give customers clear processes to follow. Provide the tools they need to be successful.
Customer Onboarding: Getting Started Guide
What to do when customers push the envelope. You may need to put your foot down. Don't deviate from your business model for one customer. That's a recipe for disaster. You can fire customers, be upfront and tell the client he's not the best fit.
Vision, Values, and Competitors
Have a true vision of your business. Your business model reflects your personal values and profession. You're unstoppable when you develop your vision and lay out your business model and how it works. Learn the business model your competitors use. For me, some of my competitors are:
- Soundview Executive Book Summaries https://www.summary.com
- getAbstract https://www.getAbstract.com/en
- Readitfor.me https://www.readitfor.me
- 12min https://web.12min.com
There are a lot more competitors in this crowded niche, but I’ve listed only the ones above. From the information in From Cubicle to Cloud, I realize that I need to do the following. Other subscription companies do some of the following but not all.
- Explain pricing packages.
- Map out your processes.
- Solve the most obvious problems.
I need to do a better job of presenting my offers and I haven’t mapped out my processes. I need to go back to the drawing board. Having a vision was a priority for the author and it helped her when difficulties arose in the business.
Stay true to your vision. Virtualization allows you to tap into skilled labor regardless of geographic location. Make meaning for customers. That way you can create value. People pay for value. People have to value what you are selling. Different customers value different things, some value:
- Excites customers.
- Solves problems.
- Saves time.
- Saves money.
Standardization and Barriers to Success
How do you make your company or your offering attractive so clients choose you? And how are you making meaning with your service?
Standardize things for your staff, customers, and vendors. Make sure your staff knows how work gets done and can do the work. You need accountability systems in place and a way to track staff. Give your employees the tools they need to do the job well. Provide extensive training.
Every start-up has barriers to growth – areas that need attention. Make sure you identify them early and fine remedies. Five common errors are:
- Perseverance
- Cash flow
- Marketability
- Customer acquisition
- Quality control.
They usually show up as the company struggles to grow. The solution isn't always to throw money at these areas. Think like a bootstrapper for innovative solutions. You need to keep going, even during the bleakest times.
Lessons Learned
Lesson One: Pay for work with revenue from that work.
Products need to pay for themselves. Don’t take money from one area to subsidize another.
Lesson Two: Create a strong image and establish trust.
How others perceive you is important. What do you need to do to build credibility? Take time to develop your image and your brand.
Lesson Three: Take a risk.
Establish brand presence, reputation, and voice. Master the follow up. As an introvert, this is very difficult, which affects customer acquisition. The author hired a salesperson to manage customer acquisition, and she would then close the sale. Getting clients wasn’t one of her strengths, and she recognized that and found a solution. Fire ineffective people because they’ll place your company at risk.
Lesson Four: Know when to make a major investment and do it.
What do you need to invest in to accommodate the smooth running off your business? Do it and don’t procrastinate. Figure out how to find the funds necessary for the investment.
Lesson Five: Keep the faith.
Be grateful. If you keep the faith, do the work, miracles can and do happen. Be grateful for what you have now.
Lesson Six: Don't count your chickens before they pay.
I need a constant reminder of this. Wait until the contract is signed. Don't change your business model for one person, even if you think they’ll bring the business a windfall.
Lesson Seven: Choose corrective measures over being right.
You need checklists to make sure all areas are covered. Do you have an onboarding checklist? Streamlining your business processes helps to reduce errors and is good quality control.
Lesson Eight: Document relentlessly.
You may need a getting started guide. This is a process for working with you. Develop FAQs for customers to use.
Lesson Nine: Invest in good quality control.
Customer acquisition is important. So is customer retention. What does good quality control look like in your niche?
Lesson Ten: Expect growing pains.
You may need help desk/tech support. Have a process for handling complaints.
Lesson Eleven: Always have a second hand in negotiating.
A business owner has to negotiate to pay below value to remain relevant and competitive. Don't alienate your vendors. Work with another person who doesn't have an emotional attachment to the deal.
Lesson Twelve: Take care of your business first.
Your business is your lifeblood. Take care of your business first. The other things will come. What do you need to do to run a sustainable business?
Lesson Thirteen: Don't let your frustration get the best of you.
You'll get frustrated when things don't go right. Don't give up, keep going knowing that things often work out.
Secret Sauce
The most successful companies have a secret sauce. It’s a secret that’s only known to them. One element that will also give a company a competitive advantage is to have a published practice standards document to help staff know how to address issues that crop up. And give them a place to learn about the corporate level culture of your company.
The practice standard document will also outline how work gets done, Confidentiality Practices, Efficiency Practices Work, Tracking Practices, Timekeeping Practices and so on.
Have you read?
Zero to One by Peter Thiel, Book Review
Book Review – The Innovation Stack by Jim McKelvey
How to Find Prospects
Before a potential customer will sign up with you, you have to create an environment where they feel comfortable with you. They have to know, like, and trust you. You have to demonstrate to customers how you can meet their specific needs. The customer has to see you as an expert.
Standardization is key. Give people what they expect, provide the same experience for all stakeholders.Once you have a business model and all of your processes are standardized, you will need two other foundational elements to differentiate yourself—strong branding and trust. This will help in finding customers.
What's the customer's journey?
- Position yourself as an expert.
- Make the service accessible to customers.
- Know your best practices.
- Standardize all business processes.
- Develop a strong brand.
- Be consistent. Consistent tone and voice. And be:
- Intentional.
- Visible.
- Social.
- Well positioned.
You have to build trust with your future customers. Once you’ve established a strong brand, you can figure out how to build trust. Create valuable tools. For me, I have to create a playbook for using Roam Research to help clients capture the notes from the books they read. Regular note taking will not do. Roam Research offers network note taking with bidirectional links.
The more notes you have in Roam Research, the more connections you can see between the books you read. This is key because clients will be able to write unique articles, cementing their personal brand and building thought leadership.
The Customer Journey
- Welcome email.
- Tell them what to expect.
- Listen and learn.
- Let customers feel valued.
- Make their life easier.
- Communicate.
Build something bigger than yourself, something that’s sustainable and can function without you.
Conclusion: From Cubicle to Cloud by Jennifer Brazer
Although many of the examples and information in From Cubicle to Cloud by Jennifer Brazer are specific to the accounting profession, any small business owner can find several nuggets on how to build a sustainable business. I like the idea of streamlining the processes in a business, so you can evolve it.
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Next Steps
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