The Broke Accountant

[marchioness]

Hello everyone!

I'm Anca and I'm from Romania. I'm new to this forum and I want to introduce myself.
I'm 37 years old, with 2 kids (2 years old and 7 months) and a loving partner of over 10 years. I currently work as an accountant. My partner is a truck driver (owns his vehicle) and is mostly on the road (3 weeks out of 4).
I must admit that I appreciate my life as it is: I love my kids, my partner and my family. I count my blessings every day. We are healthy & happy together. We enjoy every single minute we have.
I am however deeply unhappy about our financial life. My job gives me minimum wage with little benefits (apart from the status, ha ha, what a joke!). My partner still struggles with making a decent wage, taking into consideration the fact that he still has to pay the loan for buying the vehicle. He was "hit" by the tense situation in Europe (Ukrainian war and such) with the crazy prices we are experiencing nowadays (especially in gas/petrol). Luckily, he found a steady contract that gives him work regularly at a decent price. It comes with the cost of being gone for extended periods of time.
That leaves me at home with 2 kids (one already goes to kindergarten, the other one is highly dependent on Mom), a job, shopping, cooking and the other responsibilities that come from being alive. My parents live in the same town, but they are still active in the workforce, so I cannot rely much on their help. Plus, I'd like them to relax and enjoy their spare time, not having to constantly help their daughter.
I've read all 3 @MJ DeMarco 's books. After reading each and every single one of them I realized that these books should be studied, not read. So although I finished reading the books, I plan on reading / studying them until the end on 2024. Study them thoroughly & start implementing. I wholeheartedly share many of the beliefs that MJ expresses in those books. Numbers don't lie.
I post this introduction because I plan on sticking around. I want to find my Fastlane, although at the moment it is a bit difficult to figure out where to start.
I do not wish to continue with the accounting profession. I don't like it. I'm sure the knowledge I already have will serve me in my entrepreneurial endeavors. And don't worry. I won't quit because at the moment I cannot make a living without this job.
On some level it's disheartening that I have to start all over again, but I know I have to achieve some new skills. I am passionate about the internet in general (esp. social media) and I find coding interesting (don't think I'm some hacker, I just started Harvard's CS50 Course and I like it). I've always been good with computers and I want a business that can break the borders and spread worldwide.
I don't know where to start, but I want to have a big impact. I want to succeed. Big time. For myself. For my kids. To be able to provide a luxurious lifestyle for my family. For my partner to be able to witness his kids grow. To be able to help my parents. To stop living paycheck to paycheck. To leave a legacy. To impact millions. I am hardworking and ambitious and although I have a full plate already, I don't mind spreading myself thin for a greater future.
Any kind of advice you have for me, I'll listen. I'm a dry sponge sucking on the amazing information I found here. Any guidance / references / topics I should read are welcome.
In the meantime I'll be here trying to figure things out.
One thing is certain: quitting is not an option. I'm almost 40 and I know better.
It's a pleasure!

Anca

 

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[Andy Black]

Hello everyone!

I'm Anca and I'm from Romania. I'm new to this forum and I want to introduce myself.
I'm 37 years old, with 2 kids (2 years old and 7 months) and a loving partner of over 10 years. I currently work as an accountant. My partner is a truck driver (owns his vehicle) and is mostly on the road (3 weeks out of 4).
I must admit that I appreciate my life as it is: I love my kids, my partner and my family. I count my blessings every day. We are healthy & happy together. We enjoy every single minute we have.
I am however deeply unhappy about our financial life. My job gives me minimum wage with little benefits (apart from the status, ha ha, what a joke!). My partner still struggles with making a decent wage, taking into consideration the fact that he still has to pay the loan for buying the vehicle. He was "hit" by the tense situation in Europe (Ukrainian war and such) with the crazy prices we are experiencing nowadays (especially in gas/petrol). Luckily, he found a steady contract that gives him work regularly at a decent price. It comes with the cost of being gone for extended periods of time.
That leaves me at home with 2 kids (one already goes to kindergarten, the other one is highly dependent on Mom), a job, shopping, cooking and the other responsibilities that come from being alive. My parents live in the same town, but they are still active in the workforce, so I cannot rely much on their help. Plus, I'd like them to relax and enjoy their spare time, not having to constantly help their daughter.
I've read all 3 @MJ DeMarco 's books. After reading each and every single one of them I realized that these books should be studied, not read. So although I finished reading the books, I plan on reading / studying them until the end on 2024. Study them thoroughly & start implementing. I wholeheartedly share many of the beliefs that MJ expresses in those books. Numbers don't lie.
I post this introduction because I plan on sticking around. I want to find my Fastlane, although at the moment it is a bit difficult to figure out where to start.
I do not wish to continue with the accounting profession. I don't like it. I'm sure the knowledge I already have will serve me in my entrepreneurial endeavors. And don't worry. I won't quit because at the moment I cannot make a living without this job.
On some level it's disheartening that I have to start all over again, but I know I have to achieve some new skills. I am passionate about the internet in general (esp. social media) and I find coding interesting (don't think I'm some hacker, I just started Harvard's CS50 Course and I like it). I've always been good with computers and I want a business that can break the borders and spread worldwide.
I don't know where to start, but I want to have a big impact. I want to succeed. Big time. For myself. For my kids. To be able to provide a luxurious lifestyle for my family. For my partner to be able to witness his kids grow. To be able to help my parents. To stop living paycheck to paycheck. To leave a legacy. To impact millions. I am hardworking and ambitious and although I have a full plate already, I don't mind spreading myself thin for a greater future.
Any kind of advice you have for me, I'll listen. I'm a dry sponge sucking on the amazing information I found here. Any guidance / references / topics I should read are welcome.
In the meantime I'll be here trying to figure things out.
One thing is certain: quitting is not an option. I'm almost 40 and I know better.
It's a pleasure!

Anca

Welcome.

First off.. is it accounting you don't like or the way it's setup for you? What if you were working for yourself with clients you enjoy working with and maybe even delegating the work you don't like to a team? And could see progression where you're building a brand and assets you own?

Maybe you can build on top of what you already know instead of starting completely afresh?

Maybe check out the two radio interviews in my signature. I think I discuss this in the second one.

 

[marchioness]

Welcome.

First off.. is it accounting you don't like or the way it's setup for you? What if you were working for yourself with clients you enjoy working with and maybe even delegating the work you don't like to a team? And could see progression where you're building a brand and assets you own?

Maybe you can build on top of what you already know instead of starting completely afresh?

Maybe check out the two radio interviews in my signature. I think I discuss this in the second one.

Hi Andy,

Thank you for the conversation starter. I think Accounting is not be my cup of tea. I have been in the field for several years now and my issues are the following:
1. Fiscal regulations in Romania tend to change often and abruptly. - Keeping up with all the changes is hard work and often impossible if you work with companies that activate in different areas.
2. Customers are not educated when it comes to the work of an accountant- they have the impression that the accountant has to deal with all their fiscal situations - at no additional cost, of course.
3. This might be subjective - but I feel accountants are disregarded and not respected enough.
4. I personally don't feel that my work is valuable.
5. I chose this job because of family pressure: "There will always be work in this field".
These are some of the reasons why staying in this field would be a "No" for me. I do appreciate the experience & the knowledge, I know it will serve me in my entrepreneurial activities, but that would be it.
I'd like to orient my efforts towards something else.

I will listen to the radio interview! Thank you for the recommendation

 

[StrikingViper69]

It’s always easiest to start with what you know. Why start from scratch when you can start a few steps ahead?

To go back to MJ’s books, he was a limo driver and didn’t like it. So he made a website where people could hire a limo.

Just because you don’t like working in the field doesn’t mean you can’t do something within the field.

What are problems in the field you can solve?

Are there things that annoy you that also annoy other accountants?

What would make your life easier?

Are there things that companies/individuals would benefit from that they don’t know about?

 

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[shubham___3011]

Hello everyone!

I'm Anca and I'm from Romania. I'm new to this forum and I want to introduce myself.
I'm 37 years old, with 2 kids (2 years old and 7 months) and a loving partner of over 10 years. I currently work as an accountant. My partner is a truck driver (owns his vehicle) and is mostly on the road (3 weeks out of 4).
I must admit that I appreciate my life as it is: I love my kids, my partner and my family. I count my blessings every day. We are healthy & happy together. We enjoy every single minute we have.
I am however deeply unhappy about our financial life. My job gives me minimum wage with little benefits (apart from the status, ha ha, what a joke!). My partner still struggles with making a decent wage, taking into consideration the fact that he still has to pay the loan for buying the vehicle. He was "hit" by the tense situation in Europe (Ukrainian war and such) with the crazy prices we are experiencing nowadays (especially in gas/petrol). Luckily, he found a steady contract that gives him work regularly at a decent price. It comes with the cost of being gone for extended periods of time.
That leaves me at home with 2 kids (one already goes to kindergarten, the other one is highly dependent on Mom), a job, shopping, cooking and the other responsibilities that come from being alive. My parents live in the same town, but they are still active in the workforce, so I cannot rely much on their help. Plus, I'd like them to relax and enjoy their spare time, not having to constantly help their daughter.
I've read all 3 @MJ DeMarco 's books. After reading each and every single one of them I realized that these books should be studied, not read. So although I finished reading the books, I plan on reading / studying them until the end on 2024. Study them thoroughly & start implementing. I wholeheartedly share many of the beliefs that MJ expresses in those books. Numbers don't lie.
I post this introduction because I plan on sticking around. I want to find my Fastlane, although at the moment it is a bit difficult to figure out where to start.
I do not wish to continue with the accounting profession. I don't like it. I'm sure the knowledge I already have will serve me in my entrepreneurial endeavors. And don't worry. I won't quit because at the moment I cannot make a living without this job.
On some level it's disheartening that I have to start all over again, but I know I have to achieve some new skills. I am passionate about the internet in general (esp. social media) and I find coding interesting (don't think I'm some hacker, I just started Harvard's CS50 Course and I like it). I've always been good with computers and I want a business that can break the borders and spread worldwide.
I don't know where to start, but I want to have a big impact. I want to succeed. Big time. For myself. For my kids. To be able to provide a luxurious lifestyle for my family. For my partner to be able to witness his kids grow. To be able to help my parents. To stop living paycheck to paycheck. To leave a legacy. To impact millions. I am hardworking and ambitious and although I have a full plate already, I don't mind spreading myself thin for a greater future.
Any kind of advice you have for me, I'll listen. I'm a dry sponge sucking on the amazing information I found here. Any guidance / references / topics I should read are welcome.
In the meantime I'll be here trying to figure things out.
One thing is certain: quitting is not an option. I'm almost 40 and I know better.
It's a pleasure!

Anca

Hey Anca, Welcome to the forum, i loved the ending part of your introduction and that shows how ambitious you are.
You are good with computers you can pick various booming skills like ads, video editing, digital marketing, website development, new ai (many more these are just example) tho you will have to start from zero but the process would definitely worth everything, also there are many idea and execution threads on the forum which you can go through to find you fastlane!

All the best! You are in the right place

 

[shubham___3011]

Hey Anca, Welcome to the forum, i loved the ending part of your introduction and that shows how ambitious you are.
You are good with computers you can pick various booming skills like ads, video editing, digital marketing, website development, new ai (many more these are just example) tho you will have to start from zero but the process would definitely worth everything, also there are many idea and execution threads on the forum which you can go through to find you fastlane!

All the best! You are in the right place

Also there is a Linkedin thread where you can share your linkedin and connect with fellow fastlaners

CHAT - LinkedIn: Connect, Mastermind, Progress

(This isn't MY thread. It's for all of us to chat and mastermind about what's working and not on LinkedIn.) LinkedIn is a great platform and I encourage you all to put some effort into your profile and network. I've been on there for over a decade and I've had countless DMs with interesting...

www.thefastlaneforum.com

 

[marchioness]

It’s always easiest to start with what you know. Why start from scratch when you can start a few steps ahead?

To go back to MJ’s books, he was a limo driver and didn’t like it. So he made a website where people could hire a limo.

Just because you don’t like working in the field doesn’t mean you can’t do something within the field.

What are problems in the field you can solve?

Are there things that annoy you that also annoy other accountants?

What would make your life easier?

Are there things that companies/individuals would benefit from that they don’t know about?

Thank you for this. Although I'd normally just dismiss what you said (because I'm so tired of this field & I cry at the thought of doing what I do for longer), you are the second person today to propose seeing it from another perspective. I will do my best to sincerely answer the questions you've mentioned in your post.
I'll be back soon with some answers.

 

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[Ing]

A woman I know, makes accountant for about 6 businesses and she does quite well with it.
A friend makes export/import. In other countries, in Romania, too. Wood from Ru to western countries, othes, I don’t want to share, back to Ru. Ha makes a fortune with that.

Hope you will succeed!

 

[marchioness]

A woman I know, makes accountant for about 6 businesses and she does quite well with it.
A friend makes export/import. In other countries, in Romania, too. Wood from Ru to western countries, othes, I don’t want to share, back to Ru. Ha makes a fortune with that.

Hope you will succeed!

Thank you for your input, Ing. I also know people who do quite well with accounting. They probably make around 3000-4000 euro / month. They own small businesses and they have around 2-3 employees. The downside is that they are mostly chained to their desk and this is what they do all they long (sometimes even during the weekends). Because of the legislation changing often, they have to redo work they already finished. They have to be present in case of a fiscal inspection. They have to manually handle papers and enter the data in the accounting software because of the lack of automation. There is special national legislation for each area (commerce, agriculture, etc.), plus the European directives that need to be taken into consideration. The monthly deadline for submitting the monthly declarations is always the 25th of each month. Sometimes the clients bring you all of their documents on the 22nd of the month. :| They pretty much refuse to pay for any extra document that you have to fill in or submit for them. They just think that everything is included in their monthly fee.
In my opinion, this is not Fastlane. No matter how many clients you have & how many hours a day you work it's hard to make 40 000 euro / month by being an accountant.
I feel that Accounting is like being a dentist / doctor. You are trading your time for money. And honestly, I do not want to do that anymore.
I wish you success in your journey too!

 

[Beerbread]

How are you my friend? I'm also a bookkeeper in the US and after working in public, I don't want to be an accountant just because of the lack of work-life balance and the garbage pay unless you're on the partner path or a controller in industry.

However, you definitely have a lot to offer. If you're learning how to code, you do some equivalent of helping automate simple tax returns. It probably exists, but it's all marketing.

 

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[marchioness]

How are you my friend? I'm also a bookkeeper in the US and after working in public, I don't want to be an accountant just because of the lack of work-life balance and the garbage pay unless you're on the partner path or a controller in industry.

However, you definitely have a lot to offer. If you're learning how to code, you do some equivalent of helping automate simple tax returns. It probably exists, but it's all marketing.

Thank you for your input, Beerbread. Some sort of software is what I have in mind too. Things are generally good, but there's always room for improvement.
What about your job? Do you plan on leaving? Perhaps find a Fastlane?

 

[Beerbread]

Thank you for your input, Beerbread. Some sort of software is what I have in mind too. Things are generally good, but there's always room for improvement.
What about your job? Do you plan on leaving? Perhaps find a Fastlane?

Yeah it's always in the front of my mind. I took a break for a while to get my finances in order and now I'm back in the swing of things. I went from poverty wages to making middle class wages in less than 2 years and debt free. Granted it's slowlane, but I learned a lot and it's just a means to an end, especially since I use my day job to fund my projects and contractors.

 

[marchioness]

Yeah it's always in the front of my mind. I took a break for a while to get my finances in order and now I'm back in the swing of things. I went from poverty wages to making middle class wages in less than 2 years and debt free. Granted it's slowlane, but I learned a lot and it's just a means to an end, especially since I use my day job to fund my projects and contractors.

I know exactly what you are talking about. Good luck with everything. I wish you well!

 

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[Panos Daras]

I worked as an Accountant for 3 years. I would wish my worst enemy to do it for the rest of their lives. If I hate them even more I wish them to retire as a Financial Controller. And if my enemies fancy random strokes at the age of 50, wives that leave them for the plumber, a partner at a Big 4 is a magnificent career to pursue.

That being said, I made a career automating Accounting and Data Entry. I also know so many people that made a shit ton of money doing RPA, Accounting, and Financial Control (#Vomit) projects. So if you can help develop these kinds of software, you can become really rich. It can be a killer combination really.

Do you know these guys About UiPath - Accelerate Human Achievement | UiPath Also Romanian!

 

[marchioness]

I worked as an Accountant for 3 years. I would wish my worst enemy to do it for the rest of their lives. If I hate them even more I wish them to retire as a Financial Controller. And if my enemies fancy random strokes at the age of 50, wives that leave them for the plumber, a partner at a Big 4 is a magnificent career to pursue.

That being said, I made a career automating Accounting and Data Entry. I also know so many people that made a shit ton of money doing RPA, Accounting, and Financial Control (#Vomit) projects. So if you can help develop these kinds of software, you can become really rich. It can be a killer combination really.

Do you know these guys About UiPath - Accelerate Human Achievement | UiPath Also Romanian!

Loved the beginning of your post, Panos Daras! I really appreciate the humor. And the sympathy
This is the beauty of interacting with people who know more than you do. You learn the name of things: "automating Accounting and Data Entry". I'm writing everything down.
I've never heard about UiPath until now.
Thanks for your input. It was really helpful.

 

[Mr. Tycoon]

Hello everyone!

I'm Anca and I'm from Romania. I'm new to this forum and I want to introduce myself.
I'm 37 years old, with 2 kids (2 years old and 7 months) and a loving partner of over 10 years. I currently work as an accountant. My partner is a truck driver (owns his vehicle) and is mostly on the road (3 weeks out of 4).
I must admit that I appreciate my life as it is: I love my kids, my partner and my family. I count my blessings every day. We are healthy & happy together. We enjoy every single minute we have.
I am however deeply unhappy about our financial life. My job gives me minimum wage with little benefits (apart from the status, ha ha, what a joke!). My partner still struggles with making a decent wage, taking into consideration the fact that he still has to pay the loan for buying the vehicle. He was "hit" by the tense situation in Europe (Ukrainian war and such) with the crazy prices we are experiencing nowadays (especially in gas/petrol). Luckily, he found a steady contract that gives him work regularly at a decent price. It comes with the cost of being gone for extended periods of time.
That leaves me at home with 2 kids (one already goes to kindergarten, the other one is highly dependent on Mom), a job, shopping, cooking and the other responsibilities that come from being alive. My parents live in the same town, but they are still active in the workforce, so I cannot rely much on their help. Plus, I'd like them to relax and enjoy their spare time, not having to constantly help their daughter.
I've read all 3 @MJ DeMarco 's books. After reading each and every single one of them I realized that these books should be studied, not read. So although I finished reading the books, I plan on reading / studying them until the end on 2024. Study them thoroughly & start implementing. I wholeheartedly share many of the beliefs that MJ expresses in those books. Numbers don't lie.
I post this introduction because I plan on sticking around. I want to find my Fastlane, although at the moment it is a bit difficult to figure out where to start.
I do not wish to continue with the accounting profession. I don't like it. I'm sure the knowledge I already have will serve me in my entrepreneurial endeavors. And don't worry. I won't quit because at the moment I cannot make a living without this job.
On some level it's disheartening that I have to start all over again, but I know I have to achieve some new skills. I am passionate about the internet in general (esp. social media) and I find coding interesting (don't think I'm some hacker, I just started Harvard's CS50 Course and I like it). I've always been good with computers and I want a business that can break the borders and spread worldwide.
I don't know where to start, but I want to have a big impact. I want to succeed. Big time. For myself. For my kids. To be able to provide a luxurious lifestyle for my family. For my partner to be able to witness his kids grow. To be able to help my parents. To stop living paycheck to paycheck. To leave a legacy. To impact millions. I am hardworking and ambitious and although I have a full plate already, I don't mind spreading myself thin for a greater future.
Any kind of advice you have for me, I'll listen. I'm a dry sponge sucking on the amazing information I found here. Any guidance / references / topics I should read are welcome.
In the meantime I'll be here trying to figure things out.
One thing is certain: quitting is not an option. I'm almost 40 and I know better.
It's a pleasure!

Anca

From a Romanian to another Romanian- I suggest you to study Bitcoin (and only BTC and not other cryptos as they're all scams).

 

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[MJ DeMarco]

Welcome Anca! Appreciate the intro and happy to hear you found value in the books.

 

[marchioness]

From a Romanian to another Romanian- I suggest you to study Bitcoin (and only BTC and not other cryptos as they're all scams).

I really appreciate your advice. In the long term I do plan on studying Bitcoin as I believe it could be a good "basket" for a few "eggs". However, at the moment this is not my priority. I am trying to find my Fastlane and I am pretty sure that putting money into Bitcoin won't help my situation much. I won't wake up tomorrow seeing that my 1 Bitcoin is worth $ 2 million.
I am searching for something that can bring massive value to people. I'm sure the money will come once this happens.
I'm also trying to avoid analysis-paralysis, so I can start executing on something.
Multumesc frumos and have a great weekend!

 

[marchioness]

Today was awesome. I got to attend 30 minutes from the Accountability Call for Young Entrepreneurs. Thank you @matteblack @Spenny @Subsonic @piano for your input.
I already set up an account on Trello (for better productivity), in order to implement the GSD System that @LightHouse talks about.
I wrote down the questions that @StrikingViper69 addressed earlier in this post. I want to take proper time to answer those.
@Andy Black , during the call the guys talked about something I found interesting and if I remember well they attributed this to you: finding a need / problem to solve first and then figuring out what are the skills / the things you need to do / learn / outsource. Do you happen to have a thread for me to read on this topic? I started listening to your radio interviews.
Thank you everyone for all the help you directly / indirectly given me.

 

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[matteblack]

NOTABLE! - MEETUPS - [TFLF Call Replay] - For teens & students getting started

Hi all. @Lawtiti (who changed his forum name to @Chet Shen) created a Meetup Thread a few days ago and had a Zoom call with @ZCP who gave advice on getting started etc. I offered to do a Zoom where I'll go through some of the main things I think holds people back when getting started, and how...

www.thefastlaneforum.com

This might be that thread
@Andy Black

 

[Andy Black]

NOTABLE! - MEETUPS - [TFLF Call Replay] - For teens & students getting started

Hi all. @Lawtiti (who changed his forum name to @Chet Shen) created a Meetup Thread a few days ago and had a Zoom call with @ZCP who gave advice on getting started etc. I offered to do a Zoom where I'll go through some of the main things I think holds people back when getting started, and how...

www.thefastlaneforum.com

This might be that thread
@Andy Black

That's the one. Thanks @matteblack.

@marchioness ... start with the 8 min video extract. The long video might help too, as well as the replies in the thread.

 

[Spenny]

I do not wish to continue with the accounting profession. I don't like it. I'm sure the knowledge I already have will serve me in my entrepreneurial endeavors

You mentioned that you would make ten ideas for a business by the end of the week; here is one: An accountant consultancy.

1. Create a bundle of services for a specific market - let's say small local shops as an example.
2. Do their taxes/returns/ for a monthly cost - pitch why It would save: A) Time & B) Effort
3. Initially, reach out to people that you know, then grow through getting leads in local Google ads. Andy has excellent stuff on Google AdWords.
4. Build up a sufficient run rate, hire an employee to do the regular stuff once you can pay that employee to do the work, and offer the employee a cushy job.
5. Keep building leads and hiring employees as seen fit

Just an idea, but this could be a Fastlane idea. People NEED taxes done. You can scale this throughout the whole of Romania (SCALABLE), most tax returns are the same for most businesses (REPLICABLE), most people need to be trained to be an accountant AND need knowledge of how to do the process (ENTRY), and you use other people's time as employees for leverage (time). On top of that, you own it (CONTROL). It is a fast lane business IF you can overcome the problems you've outlined.

The only downsides I see are:

1. Lots of competition - but most people are half-arsed at doing their job, don't deliver and don't drive customer delight
2. You may not enjoy the work.
3. All of the stuff you previously mentioned as being bad with laws.

BUT
I smell opportunity... You've outlined many problems with accounting in Romania, indeed other accountants have these problems too. Just entertain this - is there a way for you to solve one of these problems?

• Templates for new laws, become the producer & distributor for these templates for people to use
• Could you offer a way to educate people properly about accounting? Is there a way to bundle services together to make the cost affordable but worthwhile?

Just some thoughts.

-----

And as for not feeling your job is useful, it is.

1. You save people time so that they can focus on their products and services.
2. You let people identify where they need to improve efficiency in their financial machine.
3. You help people avoid bankruptcy from poor financial allocation.
4. You make sure people don't go to jail for evading taxes.
5. You help the economy push forward with taxes & public spending.

You're providing value. I won't underestimate how valuable you are.

Let me give you an example of myself. The product I sell is a silly bit of metal - at times, I spend hours trying to solve problems for no pay, and I don't enjoy it.

...but when I get a review like this



I want to dance around the house.

My point is that my joy derives from making people's lives better. The customer is the winner. I provide value. They get value. I get paid. They win, and I win.

I don't know where to start, but I want to have a big impact. I want to succeed. Big time. For myself. For my kids. To be able to provide a luxurious lifestyle for my family. For my partner to be able to witness his kids grow. To be able to help my parents. To stop living paycheck to paycheck. To leave a legacy. To impact millions. I am hardworking and ambitious and although I have a full plate already, I don't mind spreading myself thin for a greater future.
Any kind of advice you have for me, I'll listen. I'm a dry sponge sucking on the amazing information I found here. Any guidance / references / topics I should read are welcome.

Print this out: this is your north star and what your "Lamborgini" is. We all need a why on why we do this. Otherwise, we're crazy. This is also your cookie jar. When you're feeling down and need a boost, you go into here, and you pull out courage.

Looking forward to seeing your progress, Anca, you've put yourself out there more than all the lurkers. Remember to keep turning up and consistency is key.

 

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[marchioness]

You mentioned that you would make ten ideas for a business by the end of the week; here is one: An accountant consultancy.

1. Create a bundle of services for a specific market - let's say small local shops as an example.
2. Do their taxes/returns/ for a monthly cost - pitch why It would save: A) Time & B) Effort
3. Initially, reach out to people that you know, then grow through getting leads in local Google ads. Andy has excellent stuff on Google AdWords.
4. Build up a sufficient run rate, hire an employee to do the regular stuff once you can pay that employee to do the work, and offer the employee a cushy job.
5. Keep building leads and hiring employees as seen fit

Just an idea, but this could be a Fastlane idea. People NEED taxes done. You can scale this throughout the whole of Romania (SCALABLE), most tax returns are the same for most businesses (REPLICABLE), most people need to be trained to be an accountant AND need knowledge of how to do the process (ENTRY), and you use other people's time as employees for leverage (time). On top of that, you own it (CONTROL). It is a fast lane business IF you can overcome the problems you've outlined.

The only downsides I see are:

1. Lots of competition - but most people are half-arsed at doing their job, don't deliver and don't drive customer delight
2. You may not enjoy the work.
3. All of the stuff you previously mentioned as being bad with laws.

BUT
I smell opportunity... You've outlined many problems with accounting in Romania, indeed other accountants have these problems too. Just entertain this - is there a way for you to solve one of these problems?

• Templates for new laws, become the producer & distributor for these templates for people to use
• Could you offer a way to educate people properly about accounting? Is there a way to bundle services together to make the cost affordable but worthwhile?

Just some thoughts.

-----

And as for not feeling your job is useful, it is.

1. You save people time so that they can focus on their products and services.
2. You let people identify where they need to improve efficiency in their financial machine.
3. You help people avoid bankruptcy from poor financial allocation.
4. You make sure people don't go to jail for evading taxes.
5. You help the economy push forward with taxes & public spending.

You're providing value. I won't underestimate how valuable you are.

Let me give you an example of myself. The product I sell is a silly bit of metal - at times, I spend hours trying to solve problems for no pay, and I don't enjoy it.

...but when I get a review like this

View attachment 52119

I want to dance around the house.

My point is that my joy derives from making people's lives better. The customer is the winner. I provide value. They get value. I get paid. They win, and I win.


Print this out: this is your north star and what your "Lamborgini" is. We all need a why on why we do this. Otherwise, we're crazy. This is also your cookie jar. When you're feeling down and need a boost, you go into here, and you pull out courage.

Looking forward to seeing your progress, Anca, you've put yourself out there more than all the lurkers. Remember to keep turning up and consistency is key.

I appreciate all the effort that you put into your post, @Spenny . If there is one thing I will print out tomorrow, it's this post. Your reply. It makes me see things differently. It reminded me of the times when I helped people with fiscal / accounting advice and the way it made me feel.
Your whole perspective is fresh and gives me ideas that I'd like to tackle. I have a lot of things to reconsider. And I completely agree: there actually is a lot of opportunity on the market. I just have to keep my eyes open for it.
I know you are young and you probably have no kids, but I promise that what I am about to say is a big compliment coming from a parent: I have a boy and I hope that when he grows up, he ends up adding value to people's lives just like you do.
Thank you.

 

[marchioness]

A new week has started and I am here for it.
On Sunday I started reading Atomic Habits. I made a big list of all the habits (=, -, +) I have (like James recommends) and the conclusion was unexpected. I found big chunks of time that could potentially be used for study / work on my Fastlane idea - approx. 1.5 hours, during the day, when the kids are sleeping / not home. The evening also offers an extra 2 hours (after their bedtime, without me being extremely tired) that I can use for the same purpose.
My realization is that I lost these chunks of time doing housework or menial tasks. Not having clear tasks to perform affected my productivity. I would never write tasks down because I have a very good memory. However, that made me perform chaotically, choosing tasks randomly, according to what I could remember and seemed important at that particular time.
I set up Trello and I have to admit it's a bit hard to use. Not because it's complicated, but because I'm used to relying solely on my memory for doing tasks. I want to create this habit of writing very specific tasks at night (on Trello) that I must perform the next day. This will allow me to develop the habit of using the app in the first place and becoming more productive due to having a better picture of where I am and what needs to be done.
It's not a big deal but realizing that I have + 3.5 hours to use for my Fastlane idea is something. That's + 24.5 hours / week towards my goal!
Have a great week everyone.

 

[Panos Daras]

On Sunday I started reading Atomic Habits. I made a big list of all the habits (=, -, +) I have (like James recommends) and the conclusion was unexpected. I found big chunks of time that could potentially be used for study / work on my Fastlane idea - approx. 1.5 hours, during the day, when the kids are sleeping / not home. The evening also offers an extra 2 hours (after their bedtime, without me being extremely tired) that I can use for the same purpose

Awesome job on taking action! I also read "Atomic Habits," and it really transformed me. The best tip? Pick a TIME and a PLACE for what you want to do.

Also, use a calendar with tick boxes. Even if you do something for just 5 minutes, give yourself a tick. The only rule? Never miss twice. Only allow misses for "life happens" events.

This simple trick helped me make exercise a regular thing and do what I needed to do daily.
Both in my business and also at work.

Last but not least, ditch Trello! Write down the time and task/ habit on a calendar instead. Google Calendar is a good choice, but any calendar works really.

 

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[marchioness]

Awesome job on taking action! I also read "Atomic Habits," and it really transformed me. The best tip? Pick a TIME and a PLACE for what you want to do.

Also, use a calendar with tick boxes. Even if you do something for just 5 minutes, give yourself a tick. The only rule? Never miss twice. Only allow misses for "life happens" events.

This simple trick helped me make exercise a regular thing and do what I needed to do daily.
Both in my business and also at work.

Last but not least, ditch Trello! Write down the time and task/ habit on a calendar instead. Google Calendar is a good choice, but any calendar works really.

Thanks for the input, Panos Daras. I haven't advanced so quickly with the reading, but I bet I'll find amazing little tricks just like the ones you've mentioned.
I do plan on giving Trello a shot though. At least for a month. If there are no results by then, I'll ditch it. The truth is that I prefer physical objects to apps, but it's good to experiment with new things.
Being an accountant, I do have a fair share of actual paper calendars that I use around the house. We have plenty of deadlines and I need to know if they are during the weekdays or not. I'll use them to tick the boxes. See how I feel.

 

[Bekit]

Welcome to the forum, Anca! I loved reading your intro.

In my opinion, this is not Fastlane. No matter how many clients you have

Ok, so let's look at some of the tangential problems in your industry. You have a better chance of solving these problems than the average person who has no accounting skills.

What if your clients could be the accountants themselves?

How much would each accountant in the country pay to solve their most painful problems?

What are problems in the field you can solve?

Let's look at a few that you have already highlighted...

1. Could you provide a software solution that would make it effortless for accountants to keep up to date with the changing laws?

1. Fiscal regulations in Romania tend to change often and abruptly. - Keeping up with all the changes is hard work and often impossible if you work with companies that activate in different areas.

There is special national legislation for each area (commerce, agriculture, etc.), plus the European directives that need to be taken into consideration.

Because of the legislation changing often, they have to redo work they already finished.

Based on this, what if you could offer a subscription service that every accountant pays to access. You keep abreast of all the new laws, the interpretation, and what that means for accounting implementation for your clients. You provide the forms, the step-by-step instructions, and maybe even a way to automatically redo work that was already finished if it was previously submitted according to certain parameters.

I'm guessing that each office has a one-off approach to keeping abreast of these legislative changes. What if you could be the secret weapon that helps them stay ahead of the game?

- Control (you would own this)
- Entry (this would be hard - it probably hasn't been done because no one has the guts to do it)
- Need (sounds like every acccounting firm needs this)
- Time (building the software would take time, and keeping abreast of the research would take time, but adding each additional client would not take additional time from your day.)
- Scale (your target market could be every accountant in Romania. Calculate how much this would be worth to a single accountant, and then multiply that number by how many accountants you'd need to attract as customers in order to be profitable)

2. What if you could provide marketing services for accountants that helps them educate their clients on what services they do and do not provide?

2. Customers are not educated when it comes to the work of an accountant- they have the impression that the accountant has to deal with all their fiscal situations - at no additional cost, of course.

Let's say you write SEO-optimized blog posts for accountants in Romanian and English. They rank higher in Google listings because you've written about relevant topics, and their customers are more educated on what to expect, and they didn't even have to do it themselves! That's one way to bring value in this area.

Another idea would be to provide business coaching services to accountants to teach them how to establish boundaries with clients who are asking for the moon and the stars and the whole universe every time something happens.

3. What if you could make automation software for tasks that currently have to be entered manually?

They have to manually handle papers and enter the data in the accounting software because of the lack of automation.

Ideas for how you could pull this off...

• Hire VAs from the Philippines to take scanned documents and do the data entry
• Decide on one task that is currently being done manually and create and sell an automation tool for it. Then, eventually create a suite of automation tools to cover additional tasks that need to be automated and sell these to create additional revenue streams to the same customer base
  • Simple example - is there something you could create a spreadsheet for? You don't have to have coding skills to build a spreadsheet template that has the built-in calculations for something where the user plugs in the raw numbers and then the spreadsheet does the rest of the work.
• Leverage AI to learn how to pick the relevant numbers off of specific forms that are scanned in and import them automatically to the right places in spreadsheets or other software

 

[JordanK]

Have you ever considered moving within the EU? Your English language skills are really great. I live in Galway City on the west coast of Ireland. Hundreds of Romanians are moving to Ireland as our jobs market is crazy right now. It is so easy to find positions and the pay is very high by European standards. The only issue here is it is difficult to find a place to rent and it can be expensive but with an accountancy job you could probably work from home and still make 5k+ per month. Even part-time positions pay a lot if you wanted to move into a different field while transitioning to a business career.

 

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[marchioness]

Welcome to the forum, Anca! I loved reading your intro.


Ok, so let's look at some of the tangential problems in your industry. You have a better chance of solving these problems than the average person who has no accounting skills.

What if your clients could be the accountants themselves?

How much would each accountant in the country pay to solve their most painful problems?



Let's look at a few that you have already highlighted...

1. Could you provide a software solution that would make it effortless for accountants to keep up to date with the changing laws?





Based on this, what if you could offer a subscription service that every accountant pays to access. You keep abreast of all the new laws, the interpretation, and what that means for accounting implementation for your clients. You provide the forms, the step-by-step instructions, and maybe even a way to automatically redo work that was already finished if it was previously submitted according to certain parameters.

I'm guessing that each office has a one-off approach to keeping abreast of these legislative changes. What if you could be the secret weapon that helps them stay ahead of the game?

- Control (you would own this)
- Entry (this would be hard - it probably hasn't been done because no one has the guts to do it)
- Need (sounds like every acccounting firm needs this)
- Time (building the software would take time, and keeping abreast of the research would take time, but adding each additional client would not take additional time from your day.)
- Scale (your target market could be every accountant in Romania. Calculate how much this would be worth to a single accountant, and then multiply that number by how many accountants you'd need to attract as customers in order to be profitable)

2. What if you could provide marketing services for accountants that helps them educate their clients on what services they do and do not provide?

Let's say you write SEO-optimized blog posts for accountants in Romanian and English. They rank higher in Google listings because you've written about relevant topics, and their customers are more educated on what to expect, and they didn't even have to do it themselves! That's one way to bring value in this area.

Another idea would be to provide business coaching services to accountants to teach them how to establish boundaries with clients who are asking for the moon and the stars and the whole universe every time something happens.

3. What if you could make automation software for tasks that currently have to be entered manually?

Ideas for how you could pull this off...

• Hire VAs from the Philippines to take scanned documents and do the data entry
• Decide on one task that is currently being done manually and create and sell an automation tool for it. Then, eventually create a suite of automation tools to cover additional tasks that need to be automated and sell these to create additional revenue streams to the same customer base
  • Simple example - is there something you could create a spreadsheet for? You don't have to have coding skills to build a spreadsheet template that has the built-in calculations for something where the user plugs in the raw numbers and then the spreadsheet does the rest of the work.
• Leverage AI to learn how to pick the relevant numbers off of specific forms that are scanned in and import them automatically to the right places in spreadsheets or other software

Thank you for your input, @Bekit . Although in the introduction post I mentioned that Accounting was not my Fastlane, I started seeing this area with different lenses in the last couple of days. I got many new points of view and perspectives on it (including yours) and I am really starting to believe that this will work. How lucky of me to have posted my story here!
At the moment a software that solves specific problems in Accounting would be my go-to choice. Also, a website that provides valuable information for people who need help with their taxes. I am still trying to figure out problems that I could solve and ways to solve them.
My problem is that I have no idea of who could develop this software. Or how to build this website. I am good with computers but I have never built a website in my life. I have no knowledge in this area and that makes me feel that I cannot control things. I know there are companies offering these services, but how do I know if they are honest? If the price they offer is fair? I sometimes read threads from the forum related to IT and web development and I feel I'm reading a different language.
It's not a real problem and I have the capacity to overcome this, but I need to find a way of learning how.
Any advice is appreciated. Thank you.

 

[vladikcm]

I am following your thread since 20 minutes you have created it. Don’t have anything to add with more value than the responses that you are getting.
Just wanted to say to never stop working on your goal, this community will help and support you in the way.
I will be reading your success. If I don’t see people commenting in the future of your updates, I will comment to let you know I will still read you.
Great job, really motivating. Don’t let yourself down.