Blog

What Do I Need?

20200122_183351_0000

When you start a bookkeeping practice there are hundreds of things you could do.  There are many things you should do, but only 3 things you need to do.

Legally, you need to register with a supervisor under the Money Laundering Regulations, register with the Information Commissioners Office under the General Data Protection Regulations and tell HMRC that you're now self employed (if that's the route you've chosen)

Registering for supervision for Money Laundering Regulations is a fairly...

Read more…

Can I be a Self Employed Bookkeeper?

20200122_183631_0000

There's a myth doing the rounds.  If you're a great bookkeeper you will have a great bookkeeping practice.

It's the rock that many a good bookkeeper can perish on.  Just because you're an amazing bookkeeper, doesn't mean you can have an amazing bookkeeping business. 

The reverse also holds true, just because you're not an amazing bookkeeper doesn't mean you wont have an amazing bookkeeping business. 

You do need to have the skills and confidence to complete any work that...

Read more…

Don't Just Sell the Shelf

20200120_074728_0000

I made the crazy decision that a Saturday trip to IKEA was a great idea this weekend.  After being carried along in the crowd around the store, I noticed the same thing with virtually every product.

IKEA have planned their whole store to encourage you, the shopper, to spend more money with them.

They have a few base products, and then add-ons to allow you to personalise that product to your requirements.  

They don't want you to buy a KELLAX shelving system at £39. ...

Read more…

When Should I Disengage?

Is Market Rate Important

It seems counter-intuitive to actively disengage clients.  You’ve worked hard to recruit them and probably spent time and money finding them in the first place.  If you want a business that serves your dreams, though, this is a skill that you’re going to need to get comfortable with.  Fast.

If you’ve been in business for any length of time I’m sure you’ve felt it.  The clients who felt so right before now feel all wrong. You once loved working...

Read more…

I Can't Charge That!

I Can't Charge That!

I believe that bookkeepers should be able to charge at least £35 per hour.

When I say that, how does that make you feel?

If you're like most bookkeepers I speak to, you probably let out an audible gasp. Or shouted at the screen "yeah, right!"

If you're charging somewhere between £12 and £20 you probably think £35 an hour is unachievable.  If you're charging up to £25 you probably think you're about the maximum you can charge. If you're charging less than...

Read more…

Is The "Market Rate" Really That Important?

Is Market Rate Important

It's not unusual to hear the question "what is the going rate in my area for a bookkeeper?"

This question often saddens and frustrates me. It's especially concerning when I hear justifications for artificial maximum chargeable amounts being geographic area.

I genuinely believe that there is no market rate for bookkeepers.  Some business owners will see huge value in a bookkeeper and others will see little or no value.

When we try to target everyone, the people who see us of value and...

Read more…

It's Circus Time

It's Circus Time!

It's circus time! They've come a long way since I was a wee boy.  They really are experts at keeping the audience amused and entertained.  Add in a few daredevil stunts and it'll make you gasp.

The other thing that the circus are experts in is pricing.  See how many of our usual pricing strategies you can see in my recent experience.

Initially they offer free tickets around the community they are visiting.  You can attend at absolutely no cost whatsoever. An amazing lead...

Read more…

What's the Election got to do with Bookkeeping?

It’s not often that we talk about politics at The Bookkeepers Alliance, but things are so interesting I just couldn’t avoid it any longer.

How are you feeling about the EU election?  Are you feeling really energised, or are you getting bored of the whole thing?

Regardless of what you think about him, Nigel Farage and The Brexit Party is the interesting one to watch for me.  I probably shouldn’t be very surprised when the polls show his party gaining ground quickly...

Read more…

Am I Worth It?

Am I Worth It

How many times have you procrastinated over your pricing? Maybe you need to increase your prices, or you want to quote a higher initial price but chicken out?

You just know that this client can’t afford to pay your increase.  You haven’t asked them. You don’t need to. You know.

I speak to bookkeepers about this very thing almost on a weekly basis and the story is always the same.  I was there myself not so long ago.

I walked in to meet a new client.  As I...

Read more…

Are you selling yourself short?

Are You Selling Yourself Short

As bookkeepers, most of us offer our potential clients a free consultation.  It’s the recognised thing in the industry, but how many of us really get the most from these meetings?  And how many end up doing free work for the client?

How many of you can relate to this story? 

When I started out as a bookkeeper I would go to meet potential clients for their free consultation.  When I got there they would tell me all of their business woes and I would bend over...

Read more…