Price for the Majority
When you price your service you want to put them at the point where the majority of your buyers are able to afford them, thus selling to more people. This makes absolute common sense.
It's also a huge mistake that so many bookkeepers around the country are making day after day.
When I talk about my idea of a minimum of £35 per hour price point, I'm often met with the reply "That's fine for other places, but clients here won't pay that much"
It's almost like people in that part of the count…
A Week From Hell
This last week has been hell. Leaving my office and setting up my desk at home seemed to flick a switch for me.
I was full of positivity and plans, and then depression set in.
I've been short-tempered, and falling out with everyone, including my mum.
The future looked bleak. I've been imagining the worst possible outcomes of everything and generally feeling that my work over the last ten years has been for nothing.
Imposter syndrome has taken over and I feel like a fraud. Two weeks ago…
Dating v Marketing
If you were to look for something that was most like marketing for your business it would be dating. This may sound very strange, but the two are extremely similar. It’s also an experience most of us have had and can draw upon.
When you start dating, you probably already know the type of person you are looking for. You possibly have some type of list of attributes you’d like a future partner to have, and those which would be a red line. If you think about it, this is just like defining your …
No Fizzy Drink?
Last Thursday I went to a local takeaway for lunch. While I was waiting I heard the most incredible conversation between a customer and a member of staff. It went something like this.
Staff: No can of Coke today?
Customer: No. I'm giving up on fizzy drinks. I'm not even missing them.
Staff: When did you do that?
Customer: Monday. If I don't notice a difference by Friday I'll start drinking them again.
I had to hide a small snigger. Here we were on Thursday and he had kicked his ha…
What Do I Need?
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 straigh…
Can I be a Self Employed Bookkeeper?
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 you undertake. I'm n…
Don't Just Sell the Shelf
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. They want you to add four …
When Should I Disengage?
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 with them, but suddenly they make you feel as thoug…
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 £12 you must think I'm on another plan…
Is The "Market Rate" Really That 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 not, we …