I Love Bookkeeping

Amy worked at a bank for 14 years and eventually it became not worth the hours she had to put in anymore, so she decided to retire. This led her to thinking about what else she could do for work, ideally from home. Since she was good with numbers already, bookkeeping seemed like a solid choice. She signed up for Bookkeeper Business Launch and went from there. [6:00] Nonprofits were the niche that Amy chose to work with because working around or in them has been a part of her history and experience. She felt like she was in a unique position to help nonprofits specifically. [7:50] In the beginning, Amy felt like everything had to be ready to go before she officially launched her business and she ended up pushing her launch back until the last week of August. She got her first three clients in the same week right before Thanksgiving. [9:25] The first client was a Facebook referral, the other two were found on Indeed by applying for remote bookkeeper positions. There is always a price to getting clients, it’s ei

Tracy’s 35th birthday really changed things for her. She was working as a substitute teacher and wasn’t really enjoying it when her husband suggested that taxes may be a way to go. She stumbled upon some videos put together by Ben Robinson, and she decided to jump in with both feet. [4:20] Tracy learned most of her bookkeeping skills by going through Ben’s course, in addition to some minor experience in high school and college accounting. [5:40] If you don’t have clients you don’t have a business - you have a hobby. Once Tracy completed the course she dove in to trying to secure her first client, and she actually connected with her first client through a Facebook post. [8:45] You can’t give away too much for free. Giving value always seems to come back to you. [10:00] Tracy is currently serving 18 or so bookkeeping clients plus another handful of tax clients. [11:00] The first year was the hardest. Tracy was studying for her EA and some other exams at the time and combined with some personal issues she faced

Ben had graduated with his degree in 2017 and worked part-time for a local music guy, which was great until music turned out to be not very lucrative. After getting hooked by a Facebook ad, Ben decided to check out a great course that helped him launch his bookkeeping business. [3:00] 99% of what Ben focuses on is real estate. Oklahoma has a growing real estate market so it made a lot of sense to niche down. [5:20] Ben spent around 6 hours per day networking and connecting with various professionals in the market, specifically meetup.com, and that time evolved into those people asking Ben to help them with their books. [7:00] Take it slow, ask questions, engage and offer value before you ask for money. [8:05] Ben formed his business in a way that facilitated a freedom lifestyle. He found that building a virtual business is more of a challenge but is totally worth it. [10:20] Fear setting is one of the major challenges that Ben has overcome in growing his business. Every day he finds new fears around talking t

Why should you ask candidates about their salary expectations? Co-hosts Hannah Robinson and Melissa Honan discuss how business owners can set salary expectations based on a candidate's skill level, experience, and location. Hannah and Melissa start the conversation by announcing that this will be their last episode on the podcast. Ben Robinson will go back to hosting the show next season. Hannah explains how inflation is changing salary expectations and making it harder to attract high-quality candidates. According to Melissa, the first step to navigating pay expectations is having an idea of the type of candidates your budget can attract. Melissa believes business owners should set a pay range for salary negotiations because stating a specific number can weaken your negotiating power. Hannah and Melissa describe why business owners should create and stick to a realistic business budget. Melissa is a strong proponent of fair pay and keeping up with inflation but never at the expense of your business. For Mel

You think you've found someone who would be a good fit for your bookkeeping business. How do you make them a job offer they can't refuse? In this episode, co-hosts Hannah Robinson and Melissa Honan go through the key steps to creating enticing job offers that get you the right candidates every time. Hannah and Melissa start the conversation by describing how making an offer is arguably one of the most important elements of hiring. Melissa shares her go-to strategy for making a job offer that candidates simply cannot refuse. According to Melissa, the first step to making a job offer is sticking to your budget - be a little flexible with pay expectations, but never pay more than you can afford. Hannah and Melissa discuss the impact of inflation on the job market and how candidates have way higher pay expectations than 12 months ago. Melissa explains that making a job offer is a high-stakes negotiation, and business owners should always expect the candidates to counter. For Hannah, incentives that have nothing

Want to learn how to conduct successful interviews and improve your skills in assessing candidates? Co-hosts Hannah Robinson and Melissa Honan go through the main elements of an effective interview and how you can significantly increase your chances of hiring the right person. Hannah starts the conversation by highlighting how interviewing can be daunting, especially if you're a new business owner. For Hannah, the first step to having a successful interview is being clear on the type of person you're looking for. Melissa goes through the benefits of having a well-defined interview process. Hannah and Melissa agree that business owners would rather not fill the position than panic hire - a bad hire can be expensive, both financially and culturally. If it's your first time hiring, Melissa feels the best way to develop a hiring process is to Google other people's processes, implement them, and learn as you go. Melissa tries to compare an interview to a romantic first date and the risks involved when it's not a

Want to know how to create job postings that attract stronger candidates? Co-hosts Hannah Robinson and Melissa Honan discuss creative, inviting ways to write effective job postings that filter out unqualified applicants and attract the ideal candidate. Hannah introduces the topic by highlighting the struggles new business owners face when it comes to job postings. Melissa highly recommends the Bookkeepers.com community for posting bookkeeping jobs due to its high talent quality.. While the job description must be clear and straight to the point, Melissa feels the job posting is where your personality and creativity should stand out. To get your job posting to stand out, Hannah is convinced you must be creative - This is why Melissa uses Bernie Sanders memes to gain people's attention. Hannah and Melissa agree that hiding "trivia eggs" in the job posting is a great way to ensure applicants read the entire post. Applicants that do not respond to the trivia are automatically filtered out. For Melissa, the last

When should you use fixed rates versus hourly rates for your bookkeeping tasks? In today’s episode, co-hosts Hannah Robinson and Melissa Honan explore the pros and cons of flat-rate pricing versus hourly billing - and which payment type works best for a bookkeeping business. Melissa starts the conversation by highlighting the difference between paying an hourly rate versus a flat rate and what the law says about it. For Melissa, all new hires should be paid a flat rate until they get accustomed to the core business processes. When working with subcontractors, Hannah believes a fixed rate will get things done faster than an hourly rate. Melissa goes through the benefits of setting a fair rate for both the employer and the employee. Hannah reveals how hourly rates are mostly influenced by the economy and the demand for skilled labor. According to Melissa, one of the main benefits of hiring full-time employees is they only have to worry about production quality and not putting in as many hours as possible. Meli

Should you hire an employee or a subcontractor for your bookkeeping business? Co-hosts Hannah Robinson and Melissa Honan break down the difference between hiring an employee and a subcontractor, their pros and cons, and when it makes sense to go with either. Melissa starts the conversation by describing the difference between hiring employees and hiring subcontractors. Melissa explains why it's important that subcontractors and employees be held to the same performance standard. For Melissa, performing a task audit is the first step to understanding whether you need to hire an employee or a subcontractor. Hannah and Melissa go through the difference in workload for sub-contractors and employees. Melissa breaks down the steps to making a successful first hire in your small business. Melissa believes it's more beneficial for your first hire to be a subcontractor than an employee while you figure out what you want. Hiring and onboarding is expensive. To help increase the odds of a successful hire, Melissa belie

Want to know how to write a compelling job description? Co-hosts Hannah Robinson and Melissa Honan discuss the process of writing compelling job descriptions. They break down the key components of a well-written job description and explain why it should accurately reflect the duties and expectations of the position. Hannah starts the conversation by highlighting the negative impacts of a poorly written job description - new hires feel conned when the job description doesn't match the role. Hannah explains that crafting a compelling job description is essential to attracting the most qualified candidates. Melissa and Hannah agree that transparency is the most important part of writing a persuasive job description. For Melissa, a properly written job description is supposed to give applicants the best perspective of what it's like to work with you. Melissa believes a great job description should accurately highlight the responsibilities and duties of the position. Hannah and Melissa go through the best places

Do you respond to work emails over the weekend? Co-hosts Hannah Robinson and Melissa Honan discuss why it's never a good idea to respond to work-related emails over the weekend, on public holidays, or after hours. Hannah and Melissa start the conversation by revealing that they don't reply to work-related emails during the weekend. For Melissa, there is no such thing as a work emergency - and replying to emails on the weekends gives people the impression that it's okay to contact you whenever they like. Melissa talks about how some people struggle to put away work on the weekends. Daniel is one such example and struggles to disconnect himself from work on weekends. Hannah and Melissa try to identify the only times it makes sense to reply to work emails - There aren't any. Hannah talks about her weekend schedule and how she shuts off completely on Friday evening. Hannah and Melissa agree that the hustle mentality and working throughout the weekend often leads to burnout. Melissa also believes the concept of "

Are you looking for a dose of motivation, mentoring, and accountability? A mastermind group might be what you need. In this episode, co-hosts Hannah Robinson and Melissa Honan go through the benefits of being part of a mastermind group, how to join one, what to expect, and how to get the most out of the group. Hannah and Melissa talk about the benefits of being in a mastermind group and reveal they first met at the Bookkeeper Launch Mastermind Group. Melissa explains why she feels the best mastermind groups consist of people with diverse skill sets and experiences. Hannah and Melissa agree the best way to get more out of a mastermind group is to join groups that focus on areas you are not particularly good at. Hannah shares the benefits of being around people who push you and hold you accountable - Melissa adds that accountability partners should also understand if you have to pivot. Melissa highlights why it pays to join mastermind groups with people who have already reached the goal you would like to achie

Want to know how to ask for testimonials and actually get a response? In this episode, co-hosts Hannah Robinson and Melissa Honan discuss the dos and don'ts of asking for testimonials. They also demonstrate how bookkeepers can use testimonials from satisfied clients to build social proof and scale their businesses. Hannah starts the conversation by revealing she enjoys the process of asking for and receiving testimonials. Although there are numerous ways to get testimonials, Hannah believes the most persuasive testimonials come from customers who are already satisfied with your services. Melissa explains that you don't have to ask all your clients for testimonials - start with the ones that have had a positive experience working with you. Hannah and Melissa discuss the difference between asking for a testimonial in-person versus through email. Hannah shares her experience asking for testimonials at BKX - it was interesting since most bookkeepers are introverts and camera shy. Melissa goes through some of the

Want to come up with new ideas for your business? Maybe you should consider going on a brain dump retreat. Co-hosts Hannah Robinson and Melissa Honan talk to Ben Day from Lionshare Bookkeeping - they discuss how business owners can use brain dump retreats to clear overwhelm and come up with fresh ideas for their businesses. Ben Day is the owner of Lionshare Bookkeeping where he and his team offer full-service bookkeeping exclusively to real estate investors. Ben is a huge proponent of having a niche - However, he also believes your niche should be broad enough for it to make sense. Melissa asks Ben what it’s like to manage a large team and the difference between managing full-time employees and a handful of subcontractors. Ben talks about creating a flexible work environment and how giving your team the opportunity to self-govern around a set of guidelines leads to better morale, improved productivity, and positive work culture. Hannah goes through the benefits of creating a space where team members can grow

Why is delegating so important, and how can business owners master the art of effective delegation? Co-hosts Hannah Robinson and Melissa Honan expand on Melissa’s BKX talk - Delegate, Develop, and Grow. They also share insights on why delegation is the only way to scale a business and create more time for the business owner. Melissa shares her first experience delegating tasks and letting go of responsibilities - it was chaotic. Delegating is a skill that doesn’t come naturally for most people - Hannah believes business owners should not be too hard on themselves if they struggle to delegate. Melissa explains why the most valuable thing you can do as a business owner is learning how to delegate. For Hannah, delegating frees up more time for the business owner to focus on high-impact tasks and create the perfect work-life balance. Melissa explains why the most challenging transition for business owners is shifting from doing to leading. Hannah and Melissa agree that it’s almost impossible to scale your busine

Do you struggle to follow through with your goals? Co-hosts Hannah Robinson and Melissa Honan discuss goal setting and the benefits of setting realistic, achievable goals. They also share practical strategies you can use to maximize your ability to follow through on your goals. Hannah and Melissa discuss the benefits of setting big goals and having smaller goals that keep you motivated along the way. Hannah shares her struggles with following through on the goals she set for herself. Melissa shares her goal-setting process - and a framework that makes it easy to follow through. Hannah shares a story of how she used goal setting to prepare for a marathon and remain disciplined throughout. Hannah and Melissa agree that celebrating small wins along the way is the easiest way to stay motivated and follow through on your goals. Melissa explains that motivation is good for goal setting - but you need consistency to actually follow through. Melissa breaks down an intriguing goal-setting strategy that will keep you

How accurate are personality assessments, and should you use them for hiring? Co-hosts Hannah Robinson and Melissa Honan break down the pros and cons of personality tests- and whether business owners should use them when making business decisions. Hannah and Melissa go through the major highlights from Sally’s BKX speech - Personality Assessments. Melissa unapologetically maintains that she doesn’t like personality assessments - because there are no comprehensive studies to prove their effectiveness. Melissa explains why she believes personality assessments should not dictate how you live your life, both professionally and personally. For Hannah, personality tests are not super important, but they do help shine a light on a person’s strengths and weaknesses. Hannah and Melissa agree that personality tests are great for personal use - but should never be used in any part of running a business. Melissa breaks down the effectiveness of personality assessments compared to the Big Five when hiring new employees.

How close are we to a recession? Can your business survive and maybe even thrive in a market downturn? Co-hosts Hannah Robinson and Melissa Honan break down Ben's BKX opening speech: Fascinating Futures - and how bookkeepers can build recession-proof businesses in these uncertain times. Hannah and Melissa talk about Ben's doomsday BKX speech about the prospect of an impending recession. Hannah describes why it was important for Ben to talk about the recession and the uncertainty in today's business environment. Melissa explains why she's convinced that the businesses that came out of the pandemic unscathed can survive a market downturn the same way. According to Melissa, your actions will determine whether you're one of the businesses that come out on top in case of a recession. As someone with anxiety, Melissa reveals all she can do to stay sane, with everything that's happening in the world, is to keep moving forward. Hannah and Melissa share their admiration for Ben's "Adapt and Overcome" philosophy - and

BKX 2022 was a massive success. Want to know what you missed? Co-hosts Hannah Robinson and Melissa Honan talk about the most memorable moments of BKX 2022. Hannah and Melissa reveal that one of their major highlights at BKX was when they interviewed Ben on stage. Hannah reveals that their interview with Ben was not rehearsed as he wanted to answer questions off the top of his head. Hannah admits that she was a little nervous about being on stage. Melissa describes how the audience resonated with the topic of weird client interactions - because we've all had one. Hannah shares Ben's reaction when he learned that the audience wanted to know who his favorite child was. Melissa talks about the excitement that comes with meeting fans in person and interacting with people she normally sees on Facebook. Melissa's pro tip for event speakers: volunteer to speak on the first or second day of the event. Hannah and Melissa break down the pros and cons of running a virtual event alongside an in-person event. Melissa expl

What is a business process, and does your business really need one? Co-hosts Hannah Robinson and Melissa Honan go through systems and processes that can enhance the overall performance of your business - and how you can build one that’s tailored to your business model. Melissa goes through the benefits of developing business processes - and why creating systems and processes is the first step to scaling a business. Melissa talks about the first processes she implemented in her business when she took over running the business after Daniel was deployed. Hannah shares her thoughts on why she believes having processes always leads to increased productivity. Melissa describes how hard it was to move from a sub-contractor business model to hiring permanent staff. Melissa reveals she is a massive fan of time blocking. Hannah and Melissa go through unique strategies for building efficient business processes. According to Melissa, processes guarantee high-quality outputs - knowing exactly what needs to be done ensure