Blog

Playing by the rules

If you’ve watched some of my webinars, or read my blogs on fixed prices you’ll know that one of the things I talk a lot about is systemising your services. But what do I mean?

By systemising your services I really mean creating a rulebook, it’s your game after all. Not just the rules about how you do your bookkeeping but how you run your business. If you’re anything like I used to be all of these rules are in your head right now. But maybe like me, you forget some from time to time, or ignore...

Read more…

A Chat with Kate Brown

Today we caught up with Kate Brown who runs the successful Stenson Office Services in Derby. Kate had a varied career before becoming a bookkeepers with roles as diverse as working for Harrods and the British Army. After gaining invaluable experience of small business finance within a construction firm, she set up her bookkeeping business in Derby four years ago. She is a member of the Institute of Certified Bookkeepers and when she's not busy helping business owners with their finance she...

Read more…

Training - An expense or not?

One of the first questions asked by new bookkeepers regarding their own accounts is can I claim my training costs as an expense. This is a complex area so lets walk through it slowly.

As a sole trader, the training you gain to enable you to start a business is an enduring asset of the business. It’s something that will allow the business to generate income over a prolonged period of time. The fact that training isn’t tangible doesn’t make it any less of an asset to the business. This is where...

Read more…

Raise Your Fees

When I talk to bookkeepers about their pricing, something that comes up time and again is raising fees. There is a certain resistance to this by bookkeepers. More often than not when the topic is discussed I hear things like "My clients won't pay any more" or "If I raise my prices they'll leave."

This is one of those times when the fear of doing something is a lot worse than actually doing it.

We often convince ourselves that bad things will happen, so avoid it at all costs. Our clients are...

Read more…

The problems with hourly rates

With so many bookkeepers scared to make the move from hourly rates to fixed fees I decided to write another short article highlighting the problems of trading your time for money.

While most would accept that charging by the hour seems so simple for the more risk averse bookkeepers, there are also some major flaws with this approach. There is no upside to increasing your efficiency or investing in newer technology. 

The more efficient you become, the longer and harder you’ll need...

Read more…

Time Tracking on Fixed Fees

[MM_Member_Decision isMember='false'] This may sound strange, that you need to track time with fixed fees. I've spend goodness knows how long saying prices of your services should not be an hourly rate, now I'm saying you need to track time?! This resource is only available to members. To read more, login or join now as a free member [/MM_Member_Decision]

[MM_Member_Decision membershipId='1|2|3|4'] This may sound strange, that you need to track time with fixed fees. I've spend goodness knows...

Read more…

Problems with the 'from' price

[MM_Member_Decision isMember='false'] I recently spoke at the Bookkeepers Conference on pricing and a large part of that was about price anchoring. If you’re not sure what price anchoring is, let me explain using this famous optical illusion.

This resource is only available to members. To read more, login or join now as a free member [/MM_Member_Decision]

[MM_Member_Decision membershipId='1|2|3|4'] I recently spoke at the Bookkeepers Conference on pricing and a large part of that was about...

Read more…

The Power of 9

[MM_Member_Decision isMember='false'] The incredible power of ending your price with a 9 is not a new concept. In fact, it’s been around for more years than any of us can remember. But does it really influence buying habits? This resource is only available to members. To read more, login or join now as a free member [/MM_Member_Decision]

[MM_Member_Decision membershipId='1|2|3|4'] The incredible power of ending your price with a 9 is not a new concept. In fact, it’s been around for more years...

Read more…

Irrational Decisions

[MM_Member_Decision isMember='false'] As humans we like to think that we’re in control of the decisions we make. Whether they are important or every day decisions we want to know that we’re actually making them. The truth is, though, we’re not. We find decisions very hard to make so use a lot of other information to try to make the task easier. This resource is only available to members. To read more, login or join now as a free member [/MM_Member_Decision]

[MM_Member_Decision...

Read more…

What Can Pick and Mix Teach Us?

Only a few years ago, the thought of buying pick and mix sweets was a real mix of emotions for most of us. We’d take the paper bag in one hand and the scoop in the other. Filling the bag was a joy. Fired eggs, smarties and fudge filled the bags. All the favourites were available to choose from.

Then came the time when the feeling changed. Joy and pleasure quickly departed and was replaced with fear and pain as, for the very first time, you got some idea what this bag of goodies was likely to...

Read more…