Today we’d like to introduce you to Alex Riccio.
Hi Alex, we’re thrilled to have a chance to learn your story today. So, before we get into specifics, maybe you can briefly walk us through how you got to where you are today?
My first job out of college was helping a portfolio of 15 small businesses with their accounting. These were local coffee shops and restaurants I had frequented while I was in college. So going from college graduate to an expert advisor for these popular small businesses was a crazy transition. I remember sitting in one of the restaurants thinking, “It would be so cool to know how this business works on the back-end” And fast forward a few year’s the Owner was asking me what his price for Chicken Wings should be.
Before going into Stronghold Accounting full-time, I worked as an independent auditor who’s job was to ensure the financial statements of name-brand companies weren’t fraudulent. Think companies like Walmart or Amazon. But something about helping small businesses, whether it was saving them $20,000 in taxes or unlocking more profit for the mom & pop shop down the road, was an unbeatable level of fulfillment. And the level of appreciation they have compared to working with large companies was incomparable. And that is why Stronghold Accounting exists, to bring clarity & guidance to small businesses that need it most.
Alright, so let’s dig a little deeper into the story – has it been an easy path overall and if not, what were the challenges you’ve had to overcome?
The hardest part was leaving a high paying W-2 salary and diving head first into a full-time business. There were so many thoughts of doubt that run across your mind when mentally preparing to embark on the entrepreneurship journey. How would I get enough sales? Would I be generating enough to pay for an employee, let alone myself? Can that employee trust me to provide income for their family? The thought that always helped me get through it was picturing myself as an old man…knowing that if I never took the leap to see what was possible, I would always be filled with regret.
And that thought alone put me at ease and gave me confidence that there really was no loss that would put me lower than I started.
Alright, so let’s switch gears a bit and talk business. What should we know?
Business owners call me every week struggling with their finances. They have a CPA they can’t get a response from all year, disorganized financials, and a complete lack of financial guidance. Our trademark CPASystem™ was created to alleviate these common struggles. It’s a weekly subscription that includes the following:
C – CPA-Reviewed Financials every month
P – Protection from penalties and no more tax surprises
A – Advisory year-round, Unlimited CPA-Access
This CPA System™ is our bread and butter offering for small businesses with no guidance and confusion over their books. The key differentiator for us is the white-glove level of communication. Every client has a dedicated team that responds the same-day, and we are meeting at least every Quarter to dive deep into the numbers proactively with each client. The reason this is so important is because most business owner’s wait until year-end to try to piece together their financials. And by the time the year is over, you’ve missed out on 99% of the strategies you can implement.
I am most proud of the fact that we have never lost a client due to lack of customer satisfaction. The only time we lose clients is if they are selling their business and I hope we can continue that trend.
What sort of changes are you expecting over the next 5-10 years?
The accounting industry is shifting to a more advisor-focused approach. No longer can your “bookkeeper” treat you like client #99 out of 100 and simply check the compliance boxes. The modern bookkeeper needs to take a step back and thinking deeply about how the business can be put into most optimal financial position. How can we use the golden nuggets of your numbers proactively to put you in a better position.
Whether it be lower their taxes or improving cash flow, more than ever small businesses are getting destroyed by high taxes and inefficient operations. The modern accountant now more than ever needs to be the expert advisor.
Pricing:
- Flat, weekly rate based upon size/complexity (prices are custom to each business)
Contact Info:
- Website: https://www.strongholdaccountants.com/
- Instagram: https://www.instagram.com/alexmricciocpa/
- Facebook: https://www.facebook.com/alexstrongholdaccounting/
- Youtube: https://www.youtube.com/@strongholdaccounting/
- Yelp: https://www.yelp.ca/biz/stronghold-accounting-and-bookkeeping-lake-mary
