A technologist from birth, Nick could always be found with the latest technology in hand. Reconciling the books of his family’s business and filing his first tax return at the age of 16, Nick also discovered his knack for accounting at a young age. Nick graduated from St. John’s University with a Master’s in Taxation.
In 2010, Nick founded Bookkeeper360 with the goal of providing tech-savvy bookkeeping solutions for local businesses. Realizing the potential of the cloud to allow expansion into a global market, Nick partnered with Xero Accounting Software. Through hard work and passion, Nick led the firm to become one of the largest 100% cloud-based bookkeeping solutions providers in the United States. As the founder and CEO of Bookkeeper360, Nick is in charge of innovation and technology for the firm.
Nick was welcomed to the Canine Companions for Independence Northeast Region Board of Directors in 2018. Nick’s business success through Bookkeeper360 has enabled him and his team to give back to the community through CCI. CCI provides assistance dogs to adults, children, and veterans with disabilities. Nick’s passion and love for animals, paired with giving back to the community, has driven his dedication to the Canine Companions for Independence Organization.
Outside of work, Nick enjoys traveling, skeet shooting, fine foods, and learning about other high-technology firms. In case you wanted to know his greatest weakness, it is his spelling ability, which luckily technology provided spell-check for.
How did the concept for Bookkeeper360 come about?
The concept of Bookkeeper360 started in college, and is a mix between technology and accounting – two strong passions of mine. While in college, I was doing bookkeeping for SMB’s in the Long Island (New York) market and business owners needed the service. Shortly after I discovered this service could be done remotely, I transformed the practice into a complete cloud-based bookkeeping firm. We have built ancillary solutions on the initial product over the years such as CFO, technology consulting, tax, and more.
How was the first year in business?
The first year in business was about proof of concept; it was just about getting a client and servicing them. Before we knew it, we turned around and had dozens of clients nationwide.
What was your marketing strategy?
We had a strong marketing strategy by partnering with software, accountants and strategic partners, as well as having a great website to explain our brand and solutions to small business owners.
How fast did the company grow during the first few years?
The company has grown to be a multi-million dollar firm in under three years. We were just recognized on the 2018 Inc. 5000, placing 1359 of 5000, with our three-year growth rate standing at 349%.
How do you define success?
Success is a personal definition and is different for everyone. Bookkeepers360’s success is working with thousands of small businesses each day, helping advise them and navigate through the struggles of business to help them grow and expand their companies.
What is the key to success?
Focus. It’s not what you do, it’s how you do it. Focus, align, execution.
What is the greatest lesson you’ve ever learned?
Don’t be a jack of all, master of none. Focus on what you do very well and excel with it. Go deep. Be ready to take risks, and there is no such thing as a mistake, because you always can learn lessons.
What are some quotes that you live by?
“It’s not what you, it’s how you do it.” – Anonymous
“The only limit to our realization of tomorrow will be our doubts of today.” – Franklin D. Roosevelt
“Innovation distinguishes between a leader and a follower.” – Steve Jobs
Tell me about one of the toughest days you’ve had as an entrepreneur.
I had triple jaw surgery in 2014, and I ignorantly had a complication where I was seeing doctors three times a day, receiving treatment as an outpatient (hyperbaric chamber), and I was not able to be a part of my business. I was scared what would happen to the company I worked so hard to build. Thankfully, my company’s amazing team took the reins and were able to run the company without my day-to-day participation.
When faced with adversity, what pushes you to keep moving forward?
Entrepreneurs will always be faced with challenges. It’s important to keep positive and focus on your end goal. Life is filled with adversity. Each and every day, people are impacted by adversity – some more than others. Learn from the adversity, how to avoid it, and grow from it.
What advice would you give to young entrepreneurs?
Don’t start a company just to make money. You must believe in that passion; the money, wealth, prosperity is a result of hard, diligent-focused work.
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This interview was conducted for research purposes by author Jason Navallo for his upcoming book, Underdog.
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