Hey folks,
We’ve been diving a bit deeper into the U.S. tax market to understand it better. Below I’ve left a brief on our learnings, and we have a couple of simple asks for you as well!
Past Month
Tax Market Research
We’ve been doing some qualitative research on the U.S. tax market. We’re actively looking into the following:
How consumers are currently filing for taxes and becoming more tax efficient.
How CPAs deal with consumers, their workflow, and running their businesses.
How SMBs/Enterprises are dealing with taxes and accounting.
Some fun facts:
We’ve learnt that 24-25% of the U.S. population uses tax professionals.
CPAs are great referral marketers, but aren’t really using the Internet in a proper way to acquire clients.
Some enterprises are willing to offer tax advice to their employees if they weren’t liable.
We’re speaking to more CPAs to understand their problems better, as well as gathering more data from consumers and businesses (which we need your help from – see below)!
We’d like to have a product / market hypothesis in the next two weeks and decide if we’d like to pursue it. We have a couple brewing already.
Agency
We’ve signed on a new client this past month and have a few in the pipeline. We’re decently aware that the agency is what funds all this fun exploration, so we’ve decided to make sure we’re putting a bit of structure around operating it:
We’re qualifying potential clients: This means that startups which are likely to churn due to budget cuts, products we don’t enjoy, and people we don’t philosophically agree with shouldn’t become clients.
We’re operationalizing our process: We went back through every account/client we’ve ever had to understand what we could have done better and have put together a somewhat simple (but hopefully powerful) process in place around communication to help remedy some of those failures in the past.
How Can You Help?
We have two simple asks for you:
If you’re a U.S. tax resident, please take a minute to fill out this survey!
If your open to it, we’d like to speak to you about how you handle taxes and bookkeeping in your company (or portfolio companies). Just email back here or email karim@pearmill.com and we’d love to borrow you for 15 minutes to ask you a few questions!
Thanks for reading.
❤️,
Nima + rest of the team.