The goal of Hardly Hustle is to provide inspiration, drive and motivation in a 10 minute read or less. What you see is what you get. This is hot off the press without an editing team.
Ryland Beard is up.
Who are you and what do you do?
About Ledge: As the premier bookkeeping & financial reporting service, Ledge eliminates the need for business owners to spend hours on tedious accounting or preparing monthly financials.
For businesses of all sizes, Ledge is committed to providing clarity through organized accounting and financial reporting, all for a reasonable monthly cost. Every month, Ledge's clients receive timely and audited financial statements, reports, and trends, tailored toward each individual business owner. Unlike mass online bookkeeping firms, the team at Ledge consists of highly-qualified and proven financial executives & CPAs who work to develop and maintain a close and confidential relationship with every business owner they serve. For more information please visit: www.yourledge.com or email Ryland (firstname.lastname@example.org).
About Ryland Beard: Prior to launching Ledge, Ryland led the financial department at one of the nation's fastest growing franchises, helping to grow the company from 2 to 60 locations in a little over two years. Over this time, Ryland quickly realized the terrible choice most business owners are forced to make when it comes to their daily accounting and financials: either do their own accounting or significantly overpay a local CPA. From experience, Ryland knew business owners are not trained accountants (nor should they be), and they also shouldn't be forced to pay thousands for the service.
With nothing more than the belief this could be improved, Ryland traded the comforts of his CFO role for the uncertainties of entrepreneurship. Fast forward seven months, Ledge currently serves business owners in a variety of sectors across 16 states. With this growth, Ledge has scaled its operations by investing in its team, thereby giving every client an unmatched experience. From the words of Ryland, "There is no reason why business owners shouldn't have clear and relevant financials every month to guide their businesses to the next level."
What does the future look like for you and your hustle?
My goal is to obtain 300 clients for Ledge by the end of 2020. It's been 7 months, and we're at 65 clients. What drives / motivates you?
Genuinely loving what you do is the best motivation. After we organize the financials of our clients, it enables them to make better, more informed decisions. Over time, this improved decision making translates to their businesses becoming more successful.
What advice would you give someone interested in doing what you do?
Life's short, so take your leap sooner than later. Work hard, stay creative. Google what you don't know, and develop relationships with the right people. It'll all be fine.
What has been the hardest part of the hustle?
In the beginning, the idea was stacked with failure. I reached out to the wrong people at the wrong time, and this produced plenty of no's. I forgot to sleep and eat. Nothing screams stress like burning through your savings after leaving a 6-figure job for an idea which isn't working right away. So I dug deep, stayed the course, adjusted frequently, and after about a month, I was babystepping my way towards success.
What are a few resources that you'd recommend?
I don't read many books. The podcasts I listen to are all Bitcoin-related, so not necessarily worth making a recommendation.
Side or full-time hustle? Full-time.
List the founders Only me.
How many hours a week do you work on this hustle? 30-40 hours per week. I've been traveling over the past two months, working from Italy, England, France, Poland, Hungary, Spain, Portugal, and Slovakia. This is possible because Ledge is decentralized, meaning there's not office nor a requirement for specific hours. Our team is judged by the value they contribute, doesn't matter if they work for 3 hours a day or 15, from the Bahamas or Antartica.
# of Employees? 2 Full Time
When did you start? March 2019.
How much did it cost to launch? Small investment in terms of dollars. 5-10k. Mainly digital assets.
What were your funding methods and ballpark amount raised? Personal funds.
Annual Revenue? In 7 months, we're at 65 clients, 6 digit profit. Not bad considering no capital raise or upfront investment. I believe we're in a niche space, one which is ripe for the taking. No other company out there gives business owners the level of help we do, from accounting to financial guidance.
Project Revenue? 7 digit revenue.
Social: Website: www.yourledge.com