High growth startup doubles its revenue

AccountedFor
Jordan Sublette, Founder & CEO

AccountedFor is an industry leading online professional accounting service in America for small businesses. Founder and CEO Jordan Sublette discusses how he leveraged Ignition to make the shift to a subscription-based business model to double his firm's revenue in 2 years from $480K to nearly $1.1M and is now forecasted to triple in 2022.

There’s no question Jordan Sublette, CPA, is a smart, savvy guy. After graduating from Indiana University’s Kelley School of Business, he spent six years in the trenches, working for a Top 100 U.S. accounting firm. There, he gained confidence and expertise in entrepreneurial services—financial statements, taxes and consulting for small- to medium-sized businesses. But deep down, Jordan didn’t just want to just help entrepreneurs. He wanted to be one himself. So he did, buying a small firm that, in three years flat, is now on target to more than triple its revenue, as well as both triple its client and staff count.

About AccountedFor

Based in Seymour, Ind., AccountedFor has carved a niche for itself as an industry-leading online accounting service, catering to customers throughout the United States. With a focus on small- to medium-sized businesses, independent contractors, and entrepreneurs, the firm offers clients subscription-based packages, including customized, highly strategic solutions. Tapping the power of automation and the best tech tools available, AccountedFor delivers clear value and a cutting-edge experience that sustains its proven credibility in the cloud-accounting industry.

The Problem: Inheriting a legacy

When Jordan closed on his business in January 2020, the growth-focused entrepreneur “inherited” three employees, a legacy client base and $485K in revenue. In his mind, Jordan had only one way to go—up! Going full throttle, he immediately rolled out changes—one of the biggest being his decision to automate his firm to its maximum potential. And that’s where Ignition came in. Everything from its engagement, proposal and contract tools to its end-to-end, fee-based accounting solution simply made good business sense. In fact, it was a no-brainer. The quality and capability of these assets aligned with AccountedFor’s new vision and brand. Also, implementation was super easy, thanks to the personalized support offered by Jordan’s account manager. The only tricky thing? Jordan says some of the legacy clients, accustomed to doing business as usual, initially hesitated to convert.

The Solution: Shifting to a subscription-based business model

Jordan didn’t flinch, however, in the face of this minor client pushback. He simply dedicated a little more effort around educating these business owners and entrepreneurs as to the value of a subscription-based approach. For example, instead of one big invoice in the spring, smaller monthly payments now made the burden easier for these clients to bear. Also, automatic payments eliminated the need to write checks—another hassle crossed off the list. Of course, AccountedFor also experienced the benefits once these headaches were removed. Automated payments ensured more steady, year-round income. And they freed up staff to focus on more vital client work, better positioning the firm for growth. Within two years, AccountedFor had doubled its revenue (from $480K to nearly $1.1M) and grown from three to 11 staff members—more than triple. Even more exciting—with a three-fold increase in clients—its projected revenues for 2022 are estimated to triple to nearly $2M. Jordan says that, without a doubt, Ignition has and will remain a clear contributor to securing solid leads, shortening the sales cycle, and sustaining a positive, results-oriented customer experience.

Jordan’s Pro Tip

"If you’re considering that fixed-fee model, go for it! Ignition removes the admin headaches and hassles associated with running a firm, makes employees happier, and automatically generates the compliance requirements that come with running an accounting firm."

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