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Welcome back to Incubateme!
In this special edition, I’d like to introduce exclusively and ask for your feedback on a Financial Concierge tool I have been building: MyPocketCFO.com.
The purpose of this tool is to help small business founders and owners manage finance-related, repeated, tedious tasks, such as data reconciliation, bookkeeping, document preparation, etc., at a fraction of the cost today when you have to hire a professional “labor” to manually compile everything and have to pay by an “hourly” fee.
In the early days, I spent years as a consultant at Ernst Young and later McKinsey to do manual financial data compiling, excel modeling, and document preparation. The price that was charged to the clients for this kind of work was between $100 and $500 per hour. That pricing model dictates that only deep-pocketed big companies can afford the service.
In my opinion, not being able to sort out your data, especially financial data, puts small businesses at a disadvantage when dealing with investors, banks, as well as strategic partners. On the other hand, we have to solve the prohibitive pricing model to break this lock.
So I have been working with a small team of CPAs and FinTech API partners to see if we can significantly bring down the cost of financial operations and significantly enhance the timely access of financial data and insights for the entrepreneurs, as well as their partners.
MyPocketCFO.com is the deliverable of the above project. It is still in the beta version. The features are based on the asks, wishes, and pains expressed by many community entrepreneurs. As the name implies, we hope the tool could serve as your virtual CFO to take care of your financial tasks.
If you are interested in trying this tool out, please sign up HERE!
For the first 25 beta customers, we commit to doing your financial concierge for FREE, for one month, with no obligation or condition. The only ASK is your feedback on how this product can improve your business's financial health in a cheaper, faster, and better way.
And we don’t stop here. The back-office experts, ex-Googler, and ex-Amazon-er team hope to bring more tech-empowered tools to help small businesses streamline operations. Currently also on our roadmap are an HR concierge service and a legal concierge service to make HR and legal work cheaper, faster, and better.
The spirit of building all the above tools is the desire to serve the small business community better. Thus, we will continue to provide content, events, and other community services as long as they are beneficial to you. And for the ones who are interested in offering help or services to this community, I encourage you to sign up as a Partner! A thriving small business community will always be our north star.
Please check out our updated Incubateme website to learn more about the plan.
And I look forward to your feedback!
Meanwhile, stay safe, and stay tuned.