Personal Growth is Key to Freelance Bookkeeping Business Success

Posted on May 15, 2012 by Linda Hunt

Have you ever caught yourself saying, “I can’t make enough money, because…” or “I don’t like working with this client, but I can’t let go because…” or “I can’t afford that because…”

When you start looking at the because – or reasons for your behavior – are they something that can soon be changed or are they excuses for not moving forward? Is there something going on internally that’s getting in the way of creating a successful freelance bookkeeping business?

It’s a hard lesson to learn, but the fact is that you have what you have created. Your freelance bookkeeping business is an expression of who you are. It’s a reflection of your core values. And your ideal client is a version of you. You’ll be successful when you’re in alignment with things that are important to you.

Think about it: What are the characteristics and values you want your ideal client to possess? Take as an example the value of integrity. If it’s something that really matters to you, you’ll want to work with people of integrity. Otherwise, you’ll find yourself in compromising situations. Integrity becomes the pivotal point of whether to make the deal or not.

Now, let’s dig a little deeper. Identifying your ideal client starts with how you treat your vendors. If you want to be paid, do you pay your bills on time? Or are you justifying your unwise personal spending by saying, “I need to treat myself to a dinner out rather than paying the vendor.” If you want to be paid on time every time by your clients, then you need to walk your talk. That is personal and energetic responsibility.

If your ideal client profile says, “This is how I want people to pay me”, and yet, you’re treating people very differently, that’s a misalignment. Granted, nobody is perfect. To be a successful freelance bookkeeping business owner, you must come from a place of being personally and energetically responsible for your own actions.

When you take that responsibility, something wonderful happens. You gain the confidence and courage to address an issue head-on. You become clearer about your boundaries. You gain the courage to express these boundaries. Then you can come from a place of compassion.

Personal growth comes quickly when you own your own freelance bookkeeping business. Sometimes it’s a bumpy road; other times it’s smooth sailing. Don’t make it harder than it has to be. Learn my business building secrets that equip you to be successful at every level. Check out SumSolutions’ Programs for Bookkeepers and see your personal growth explode with enthusiasm and a positive “can do” spirit.

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How to Write a Proposal for Freelance Bookkeeping Services

Posted on May 1, 2012 by Linda Hunt

“But, you said …”  “I thought you were going to…”  “I’m sure you said this was included…” Have you ever had a client say something like that?  What causes this confusion?  This is often due to operating with verbal and not written agreements.

Professional bookkeepers know they should have everything down in writing.  No, you don’t want to hand them a 20-page written proposal on the first meeting.  That would scare them away and is unnecessary. 

When you write a proposal for freelance bookkeeping services, there are two components to remember. One is a description of what you will be providing for that client – I call it “Schedule A”. The second is the letter of agreement, which we’ll discuss another time.  Today, let’s focus on the written proposal itself.

When you send someone a written proposal, (Schedule A) for freelance bookkeeping services, you’re describing what you’re going to do for them. Here are 9 tips for how to write a proposal:

  1. Describe your package of freelance bookkeeping services thoroughly.
  2. Give them the pricing and payment options. You may offer 10% off if they pay in full. If you offer payment plans, be sure to include them.
  3. If you take credit cards, include that information.
  4. Provide a place for them to sign and date the document. 
  5. Have them return the written proposal to you along with a check for the first payment or credit card information.
  6. Don’t add a date for the period of services. For example, you don’t want to say, “This agreement is effective January 1st to December 31st.” That saves you from having to get a new written proposal signed every year. 
  7. Instead, state that you’re working together until a written notice of termination of your freelance bookkeeping service has been given.
  8. Your written proposal (Schedule A) stays in effect until your freelance bookkeeping services or prices change.
  9. Finally, send them the standard letter of agreement of terms, which we’ll discuss in the future.

Follow these steps – ensure all the “I’s” are dotted and “T’s” are crossed – and save yourself the hassles caused by operating with verbal and not written agreements. It’s also very important that you talk with your attorney about any requirements your state may have for written agreements. 

If you’re looking for a way to be fully equipped to handle every aspect of a freelance bookkeeping business, check out SUMSOLUTIONS’ Freelance Bookkeeper’s Business Blueprint Bootcamp.  You’ll learn how to run your freelance bookkeeping business like a pro instead of it running you!

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Freelance Bookkeepers – Are You Missing This Crucial Element to Delegating Effectively?

Posted on April 17, 2012 by Linda Hunt

Great leaders are great delegators. Any person in authority knows that you can’t simply say, “Do this job” and expect it to be done like you want it. Since you, as a freelance bookkeeper, are asking a completely different personality to do the work, they’re going to use their knowledge and skills to accomplish the task.

If your team member, such as another bookkeeper or virtual assistant, doesn’t possess your same level of expertise, the job isn’t going to be done to your standards. If you don’t instruct your team member in detail, it isn’t his or her fault that the job is below your standards. The fault lies in your communication skills. You have failed in the crucial element of successful delegation…

The key to successfully delegating to a team member lies in a freelance bookkeeper’s ability to clearly communicate your expectations.

Ask yourself, “If I delegate this, how will I be satisfied that it’s done? What is my expectation?” The onus is on you as the delegator to communicate clearly how you want it done. You may have to make a list of exact steps that you want your assistant to take, in order to handle it the way that you want it handled.

The people on your team want to do a good job. Your job is to give clear instructions and expectations and have a routine so they know what to do. In other words, you need a system.

If your team member can’t do it from the beginning according to the way that you want it, then you need to look at what you didn’t communicate. You also need to question the person, “These are the steps that I gave you. Was there something that you didn’t understand?”

It’s important, also, to have an open door policy so your assistant is comfortable coming to you and saying, “I don’t quite understand this step. This is how I would do it. Is that what you meant? Do you want it done a certain way?” Then you can elaborate on the details that need clarification.

It’s also vital to set time limits for job completion for your team member. If it’s a new process, build in quality checks along the way. You can say, “The first time you do this show me when you get to X point and when it’s done.” Then you know that they get your system and instructions.

Yes, it will take some time up front to document the process you want your team members to follow for each specific task. But in the long run you’ll save so much time and money, because everyone will have a solid reference point to work from.

Successful freelance bookkeepers must have systems or processes. Winging it just won’t do. That’s why I’m so excited to introduce everyone to my new Freelance Bookkeeper’s Business Blueprint Program. It contains business-building secrets, tools, and systems – everything to make your freelance bookkeeping business flourish.

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5 Reasons Freelance Bookkeepers Shouldn’t Be Afraid of E-Accounting

Posted on April 6, 2012 by Linda Hunt

Not too many years ago, bookkeepers had to make the nerve-wracking change from the hand-written ledgers to entering data into a computer.  Some were afraid, while others willingly embraced it, quickly seeing the advantages, and prospered.

Freelance bookkeepers today are facing another business-changing decision.  Will you embrace new technology and take your freelance bookkeeping business into the internet cloud?  Or are you going to fight this change because you fear the unknown?

When you’re not a techie, it’s normal to feel nervous about new things. So, here are some impressive things about e-accounting that may help you embrace this new technology.

Ease of use.  E-accounting simply means using internet technology to do your accounting.  It’s as easy as sending e-mails.  Sure, the first time you signed up for your e-mail account you probably were hesitant and unsure.  But don’t you find e-mails indispensable in your business?  You’ll find e-accounting to be as indispensable.

Affordable. Today, services are available at a very competitive price for people who freelance. Bookkeepers will actually find that they save a lot of time and make their businesses more profitable.

Flexibility of how you work. When you’re using software products like Peachtree or QuickBooks desktop editions, you can use PC-to-PC remote control solutions like GoToMyPC or LogMeIn. It allows you to sit in your office and use the internet to literally connect to your client’s computer and do your work.

Provides multi-user access when you use an internet hosting company. Securely store information where everyone authorized can access it at any time. It tracks everything that each user does. It’s very secure, and regular data back ups are made. It’s on a monthly subscription fee that takes care of all the technical stuff.

Keeps you up-to-date with the changing world of accounting. In the past, you entered data as it came in, so you were always playing catch-up.  Now, everything is happening in real time.  It puts you more in the role of interpreting the data and giving your clients really useful, up-to-the-minute advice. The difference between record keeping and accounting is becoming very distinct, requiring new skills and knowledge.

On Thursday, April 11th The Bookkeeper’s Club will learn all about e-accounting in their Ask the Expert Call with Joanie Mann. For over a decade, she has specialized in internet technologies for business finance and accounting.  Joanie will share her cutting edge knowledge when discussing “What Is e-Accounting & Why Is It Important?” You’re not going to want to miss this!

Not a member yet? Click here to review all the benefits, including the not-to-be-missed information from Joanie that helps freelance bookkeepers quickly, confidently, and profitably use the internet.

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Freelance Bookkeepers Get Great Testimonials When They Take These 7 Steps

Posted on April 3, 2012 by Linda Hunt

People love to talk about themselves and others. And when you hear someone saying, “Psst…have you heard…” you lean forward because you know you’re going to hear something juicy. Freelance bookkeepers need to capitalize on this human tendency and utilize it as a great marketing tool.

Many freelance bookkeepers get most of their new business from word of mouth. That’s why getting referrals is your smartest, yet most untapped, marketing tool. Closely connected to referrals is posting testimonials from satisfied clients on your website.

Why are testimonials a valuable marketing tool for freelance bookkeepers?

They give prospective clients a chance to look at how other people have used your services. This builds your credibility, and presents outside proof that you offer great value. It tells a stranger that he or she isn’t the first client to hire you. A page of 30 testimonials builds trust instantly, which is key to the success for freelance bookkeepers.

Have you asked your best clients for testimonials but haven’t gotten any to respond? Here are 7 easy-to-do steps that get great results without irritating anyone:

  1. Send an email to clients who have already given you positive feedback.

  2. Ask if you can schedule a 10-minute phone interview with them.

  3. When they respond, confirm the appointment and send them a list of the questions you want to talk about. This gives them time to really think about them. Some questions to ask are:

    • What was your main concern about hiring me as your virtual freelance bookkeeper?
    • What benefits have you received from my services as your freelance bookkeeper?
    • What specific feature do you value most in the services I provide as your freelance bookkeeper?
    • What are two other features that you value from my services as your freelance bookkeeper?
    • Would you recommend my freelance bookkeeper services? Why?
    • Is there anything that you’d like to add?

  4. During the brief interview, ask your questions and write their responses.

  5. Immediately following the interview, use their answers in their voice (style of communication) and write their testimonial.

  6. Email a draft of the testimonial to the person and ask him or her to make any corrections or additions.

  7. Once you have an approved version you just need to post it on your website.

This technique works because people love to talk. If you don’t want to do this yourself, assign it to your virtual assistant. I’d love to hear about your successes.

If you want more tips that make a freelance bookkeeper’s business prosperous, join us at The Bookkeeper’s Club. We’re a highly motivated and supportive group of freelance bookkeepers who love to share what works.

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5 Reasons Savvy Bookkeepers Love Their Mastermind Group

Posted on March 30, 2012 by Linda Hunt

Napoleon Hill reveals in his timeless classic, “Think And Grow Rich”, that Andrew Carnegie, one of the world’s foremost industrialists, attributed his entire fortune to his mastermind group.  He had about 50 men that concentrated on manufacturing and marketing steel.  The laser sharp focus of those minds sparking off of each other grew an enormous industry that made Andrew Carnegie rich and changed the world forever.

He knew the secret power that a person only gets when other minds are consulted.  As the saying goes, two minds are better than one.  That’s especially important for owners of a freelance bookkeeping business to remember.  Isolation can be very lonely and can erode your motivation.  And if you’re constantly giving to others (your clients) without recharging your own batteries, you’re going to wear out!

Of course, there’s social value in talking with a group of entrepreneurs who speak your language.  But even more important is the exposure to different viewpoints and approaches to running a freelance bookkeeping business.  You learn from each other, and your business benefits from a flood of new ideas that translate into huge profits if you act upon them.

No doubt you can already think of a number of problems that would benefit from a brainstorming session with people who have already found out what works and know the shortcuts to getting the results that you want. A mastermind group is a safe environment to talk about those problems and get un-biased feedback that will help you get past your stumbling blocks.

That brings up another benefit of belonging to a mastermind group. Once you’ve brainstormed with others, those new ideas can only benefit your freelance bookkeeping business if you put them into practice. Having a group of supportive people who hold you accountable to following through with your new ideas and strategies will make your business grow by leaps and bounds.

Not knowing how to do things often keeps bookkeepers from implementing new processes.  Within a mastermind group, you get access to inside information on how to build a successful freelance bookkeeping business. Once you have the proven techniques, strategies and tips from successful bookkeepers and industry experts, you’ll never have to waste your time on trial and error.  Imagine the time and money you’ll save!

Are you tired of spinning your wheels…every year promising yourself you’re going to make your freelance bookkeeping business more profitable and easier to manage?  If you’d ready to take your freelance bookkeeping business in the right direction, right now, join us at the Gold Mastermind Membership to The Bookkeeper’s Club.  You’ll find a caring and supportive mastermind group that keeps you motivated, inspired and on track.

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Build your Bookkeeping Business in Just 30 Minutes a Day

Posted on March 20, 2012 by Linda Hunt

width=What if I told you that you could build your dream bookkeeping business by only investing 30 minutes a day! Am I going to tell you about a slick new computer program or internet product that guarantees – once purchased – your cares are over? No, this isn’t a magic bullet. It’s going to take some work and courage from you.

Why? Because, for this to work you need to have conversations with prospects and colleagues that can make referrals for you. That’s right! The secret is using a system that regularly schedules check-ins on your calendar that will get you referrals!

Using social media is great, however it’s a much longer-term marketing solution. The best marketing to concentrate on is having conversations with people about what you do and how you can solve their problems.

Start by calling every CPA you have a mutual client with and say something like, “Hi, I wanted to check in. We’re on track to get so-and-so’s year-end numbers to you. Is there anything else that you need? By the way, if you have any other clients who are in need of our assistance I’d be happy to help. Shall I check back with you in a week?” Ask for the business. Don’t be shy.

If you’ve just started working with a CPA, you might not be as direct about asking for business on the first phone call. Get to know them and establish a rapport. Then keep in touch with them every eight to twelve weeks. If you’re on their minds, you’ll be the first person they refer to when someone needs a bookkeeper.

By only spending 30 minutes a day, you can build your bookkeeping business. Look through your colleague database. Besides CPAs, look for “power partners” who have direct access to the types of clients that you’re looking for – payroll reps, business attorneys, accounting or software consultants, business coaches, and even massage therapists. (They hear their clients woes and can connect you with those who need good bookkeeping services.)

It only takes sending simple e-mails or phone calls every day, “We haven’t touched base in a little while. I wanted to connect with you.” That’s what keeps things moving and churning. Find out what’s going on with them, and share what you’re doing. You don’t have to feel like a pest, because your approach is: “Can I be of service to you? Is this a fit right now?”

Even if they don’t respond right away, don’t give up. Realize that people are busy.
Reach out again three days later. If you still don’t hear from them, put them on a list for another three to four days after that. If no response then, put them in your tickler for 30 days later. If you e-mail someone the first two times, then the third attempt is a call and vice versa. Let me tell you…this system really works!

Would you like more marketing tips? Or maybe you’d just like to have support with implementing your new ideas? You can find it at The Bookkeeper’s Club. It’s a safe place for bookkeepers to talk about what really matters!

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Freelance Bookkeepers – As a Business Owner How Do You Know When It’s Time to Delegate?

Posted on March 9, 2012 by Linda Hunt

As CEO of your freelance bookkeeping business, it’s constantly on your mind to spend your resources – time, money, energy – wisely.  Otherwise, your bookkeeping business (and your health) won’t last very long. It can be a tricky balancing act.

The trouble is since your business is your baby, it’s hard to relinquish control to someone else for fear they won’t do things up to your standards. While this is a valid concern, it can also become a stumbling block to the success of your freelance bookkeeping business. You can get so bogged down in the details that you fail to pursue the activities that make your business grow.  And remember, your time is valuable, so if you’re wasting it on the small stuff, the cost to you per hour is huge!

What’s the solution? You need to delegate at the right time to the right people. This will give you time and energy to focus on the things that only you can do to make your freelance bookkeeping business grow.

Ask yourself these questions to determine if it’s time for you to delegate:

  • What things in my freelance bookkeeping business can only I do?  Be honest.  This is about ability not about controlling everything.
  • What necessary support-work in running my freelance bookkeeping business can be delegated to another capable staff person?
  • What non-billable work could be delegated to allow me time to concentrate on money-making activities? Why not spend a week tracking the time you work.  Sort it into billable and non-billable hours.
  • Where do I really want to be in 2 years, 5 years?  If I continue to do it by myself, will I get there?  What support do I need in order to reach my goals? Rethink the vision you have for your freelance bookkeeping business.
  • How many clients can I reasonably provide quality work for by myself?
  • In order to generate the income that I want, how many clients does my freelance bookkeeping business need?  Doing it all yourself severely limits that number.  When you delegate work to your staff, that number can continue to grow.

Need to learn more about delegating effectively? Want to start building a support team for your business?  On Thursday, March 15th The Bookkeeper’s Club will get invaluable delegating tips in their Ask the Expert Call with Sophie Zollmann. Sophie, a Virtual Assistant and Online Business Manager, will discuss “The Importance of Delegating.”

Not a member yet? Click here to review all the benefits, including delegating tips from Sophie that relieve overwhelm and let you get back to doing what you love doing most.

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Are You Portraying the Image of a Successful Professional Bookkeeper?

Posted on March 6, 2012 by Linda Hunt

Many freelance bookkeepers want to increase their income so that it reflects their true worth. That process starts with picking a reasonable, specific dollar amount to aim for. However, you can’t stop there. You need to stay focused on that number every day, asking yourself, “Am I being and doing the things a six-figure business owner does?”

When envisioning your life as a professional bookkeeper, go beyond a dollar figure and include the number of clients, type of office, and position in your community. Also envision the house you’ll live in, the vacations you’ll take, the charities you’ll contribute to, and the college your children will attend. To make something happen, you need to be very specific about what you want to happen and then keep that in front of you every day.

It’s not about what’s waiting for you in the future. If you want to be a six-figure professional bookkeeper, you have to be in alignment with that in your thoughts and actions right now.

It starts with your business image on a day-to-day basis. Rather than thinking, “I’ll dress a certain way when… I’ll have that great website when…” Your image is how you dress, how you show up for events, how you talk on the phone, how you talk to your staff, how you talk to your clients, how you interact in social media and how you behave with yourself NOW.

If you’re still thinking of yourself as a business owner who only makes $10,000 per year, then it will be hard for you to get up to $100,000. You need to think about what a six-figure professional bookkeeper would do in this situation. You want to align your thoughts to that vision. Now this doesn’t mean spending money you don’t have right now. It does mean that you start being the professional bookkeeper who has $100,000.

Be the professional bookkeeper that you envision. Carry business cards with you. Don’t mindlessly send e-mails or responses. Read them through first to ensure they exactly deliver the message you want. You can sharpen the way you talk to someone. If you work from home, get dressed as though you could see someone at a moment’s notice. Being ready will make you feel different and give you a higher energy even if you’re only doing calls.

You might enjoy a certain gourmet coffee. Allow yourself the luxury of enjoying it rather than settling for the store brand. Or when you tip someone, do you only give 10%? Then splurge a bit. See what it’s like to give 15% or 20%. Start doing little things that are no cost or low cost as though you were a six figure professional bookkeeper.

Look at your number every day. Ask yourself, “Am I being a professional bookkeeper? Am I in alignment with my desired dollar amount?” That will focus you. In The Bookkeeper’s Club, we’ve been filling in an i’mage’ profile that you need to portray for a six or seven figure professional bookkeeper. If you’re ready to transform yourself and your business, why not join us there?

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Be the Copernicus of the Bookkeeping World

Posted on February 24, 2012 by Linda Hunt

People used to think the earth was flat.  Some people were imprisoned, and even executed, if they suggested the earth revolved around the sun rather than everything revolving around the earth.

What does this have to do with you, the freelance bookkeeper?  Antiquated thinking can keep you from venturing out to find your fortune at the very least.  At its worst it can kill your freelance bookkeeping business.

It used to be the accepted practice to trade hours for dollars.  That’s how everyone did it.  But that antiquated thinking can cause you to burn out, working yourself to death.  And really, is it reasonable that, as you increase your skills and do the work faster, you get paid LESS for those valuable skills?  It’s time to be like Copernicus and challenge antiquated thinking.

When you trade dollars for hours you aren’t being paid for the value, expertise and skill you bring to each client. On top of that, you’re opening the door for clients to “question the number of hours you worked on their account” and having to “defend” or “justify” the work performed.  What a waste of energy! But quite often, fear keeps most freelance bookkeepers from switching – fear that they’ll end up providing more services than they’re being paid for, or simply the fear of the money conversation with their clients.

Imagine how much more confident you will feel using a proven formula that allows you to form a profitable foundation for establishing your flat rate fees.  Imagine basing the price upon what you are worth and not what you think the client can afford. And let’s not forget the biggest benefit for your client – it helps them to establish their monthly cash flow budget, thus gaining better control while still maintaining the same level of quality services.  It’s a win/win.

Copernicus was a mathematician and astronomer who studied the heavens closely and saw how things really worked.  His discovery that the earth travels around the sun was extremely controversial, and not widely accepted for many years.  But time proved him true.

In the times that we live in, trading hours for dollars just doesn’t make sense any more.  It takes courage to stand up and do things differently or battle your own fears and insecurity. Learn exactly how to do it by attending my “How to Create Packages that Keep You Profitable” Webinar on May 16th.  Click here to learn more and make sure to reserve your spot.

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