Who’s that Square?
It is me, 23 years ago.
This photo is the first professional photo taken for my new business in the boardroom at the serviced office in the centre of Edinburgh that I rented at that time.
Setting up your own business was a bit more unusual in those days and I wanted to make sure that I gave it a proper shot so I committed to keep going for at least a year.
To ensure that I stuck to that commitment, I made some financial investments – I leased the office and invested in a new logo and website.
I had left the accountancy profession to go into industry as soon as I qualified, ten years before, but I wanted to try and do it differently, my own way, this time.
I wanted to create a new sort of accountancy firm that gave founders of early stage tech startups access to an accountant with appropriate experience and contacts, increasing their chances of success and love of what they did and reducing their stress by helping them out with what they didn’t know.
There was a gap between what traditional accountancy firms serving every type of businesses provided to tech startups which was lacking and the help on offer from what was then called freelance finance directors (now “fractional CFOs”) which could be more than startups needed or could afford.
Sound financial reporting is still the basis of what we do, but we have also specialised in areas where tech startups have a specific need – financial projections, SEIS/EIS and R&D tax credits.
As technology has changed, we can do more – first with cloud accounting and now with AI.
Other changes have also worked in our favour:
- Remote working and working from home removes the cost of expensive offices.
- Marketing can now be done cost effectively through LinkedIn and a website.
- The “Great Resignation” has seen the very best expert specialists become available to us as subcontractors that we can allow our clients to access on an “as needed” basis without them being on our payroll as an overhead to recover.
The business has evolved – I no longer wear a suit and tie to work every day and we now specialise entirely in impact driven tech start-ups (climate tech and life sciences/medical devices).
I am still the same in some ways though.
When other kids wanted to be a spaceman, a rockstar or a football player, I always wanted to be an accountant.
I value the tradition and the emphasis on high standards and ethics that comes from being a member of ICAS (Institute of Chartered Accountants of Scotland), the oldest professional body for accountants founded in 1854 whose Latin motto “Quaere Verum” means “Seek the Truth”.
Monty Python used to say that accountancy was dull and Herbert Anchovy considered a career change to Lion Taming instead.
But it has changed now and although Michael Palin now does travel documentaries instead of comedy and John Cleese is on his “Not Dead Yet!” farewell tour, comedy in accountancy can still be found by watching some firms trying a little too hard to be super cool.
I was useless at marketing when I started off – most accountants are.
But now I know that you have to consider your target audience.
I reckon that investors and other startups are more interested in what other cool clients you already have and what they have achieved with your help than in how cool their accountants are.
So I am sticking to my original plan from 23 years ago.
Judge for yourself how that is going from this website which we have just updated with new photos and client testimonials:
Square Accountant, Cool Clients.