Blog

Time is money. Has there ever been a more dangerous or misleading phrase in the history of the world for entrepreneurs?

Time is not money. Time is not a commodity. We can't save time in the bank, or earn time back. We can't horde time in the corner, or under this mattress.

Time is not money, value is money.

If you remember nothing else from this article, remember this: "People buy what you do, not how long it took you to do it."

Think about that.

If it were true that time is money then …

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 al…

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 to work to co…

[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 h…

[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 price…

[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…

[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 membershipId='1…

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 cost…

[MM_Member_Decision isMember='false'] Change is difficult for most of us.  We get settled in our comfort zone and don’t want to leave it.  That’s just human nature.  Sometimes this creates a fear in increasing prices.  In order to create a more profitable services we’ll look at some important strategies you can employ other than simply increasing the headline prices. This resource is only available to members. To read more, login or join now as a free member [/MM_Member_Decision]

[MM_Member_Deci…

[MM_Member_Decision isMember='false']

I see this all the time for bookkeepers. They want to charge 'the market rate', or what others in their area are charging.  Let's just get this out there right away.

What others charge is nothing to do with you! 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 see this all the time for bookkeepers. They want to charge 'the market rate', or what others …