LiveCA with Chad Davis (Co-Founder) | EP35
Leveraging technology to create the accounting firm of the future.
During this 35th episode of the Fintech Impact podcast, Jason Pereira interviews Chad Davis, the Co-Founder of LiveCA, which is an accounting firm rather than a fintech. What makes LiveCA an excellent company to talk about on Fintech Impact is that it is a next generation company with no fixed address, it has about 60 employees from all around the world, and it communicates and renders their service offers using a number of technology tools and fintech tools—some that have been featured on previous episodes of this show.
●01:31 – LiveCA focuses on providing clients with technology and tax services.
●03:01 – Chad, his wife, and their children used to live in the Cayman Islands.
●05:51 – LiveCA have about 50-60 people working remotely without any central office.
●09:07 – Slack, Zoom, the Google suite of apps, Collage, and Humi are some of the tech tools for communication and human resources.
●10:10 – LiveCA offers tax, standard year-end work, United States consulting, mergers, treasury and accounts payable, bookkeeping, and aggregating multiple digital payment services.
●14:27 – You have to have key people that believe in what you do.
●16:33 – The 80% or 90% of LiveCA ex-employees that have left tend to move on to competitors or start their own firms.
●17:27 – You need support and controlled growth to not overextend too fast.
●20:00 – Living in an RV with his family and being flexible allows him to “grow smart.”
●22:20 – Chad Davis is excited about moving into a trainer role and creating opportunities for the team to try new things in a supported environment.
3 Key Points:
1. Services that LiveCA Tax, standard year-end work, Unite States consulting, mergers, treasury and accounts payable, bookkeeping, and aggregating multiple digital payment services.
2. Xero is an accounting system that LiveCA prefers.
3. Controlled growth is important to avoid watering down your services and spreading your value too thin.
-“At the end of the day, we just put ourselves in everybody’s shoes.” – Chad Davis
-“We just try to remove the risk of people saying ‘yes’ to working with us. We start removing things like set-up fees and hourly rates, the conversations just start flowing really naturally” – Chad Davis
-“For us, that in-person social interaction with cues that you see in body language and tone, you really can’t see when you are working virtually.” – Chad Davis
●LinkedIn – Jason Pereira’s LinkedIn
●Facebook – Jason Pereira’s Facebook
●Woodgate Financial – Website for Woodgate Financial
●Chad Davis – LinkedIn for Chad Davis
●LiveCA LLP– Website for LiveCA LLP
●@ChadDavis – Twitter for Chad Davis