Bookkeepers & Accountants: 1 Behavior to Rule Them All for a Profitable Business.
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- čas přidán 25. 02. 2024
- Bookkeepers & bookkeeping businesses,
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Wow, this is my answer from God, I started doing this last month but stopped after 2 weeks, I know this is the path to success
Yes joine
Wait think about this a moment. 85 clients a month (this is near impossible to service with out a full team but I digress) at $500 a month is $42,500 a year and a half million a year. Now if you do the math on the high end you are looking at $3.5 million a year. Sure these are great numbers but at that point you are talking about some of the larger accounting firms. A simple independent bookkeeper can really only service 10-15 clients a month on their own. On average they can charge $500-$800 for on going services. Those are the real numbers you can expect when you are working on your own, with a second person you can bump that up to 20 clients but after that you are now running a small team with it's own headaches. Payroll alone is going to make it not worth it in most states.
Yeah - most BUSINESSES - not a self employed person, will build a small team. A leader, a bookkeeper and probably a tax person. But again - 3.5 million a year and a small team of people with COMPLIMENTARY gifting and strengths, sharing the load and working towards a mission - BOOM - sweet little business. And no - mid sized small businesses will pay significantly more IF You know how to identify and connect with what's valuable to them. I'm no "10,000 a month" kind of guy, but seriously, the alternatives to hiring someone at 1500 - 2500 a. month is MUCH more expensive. THat alternative would be hiring a part time or full time, amateur bookkeeper, as well as a tax person. Trust me when I say this. - it's not EASY to do what I'm saying, but I'm suggesting a different model than your typical accountant gurus.
@@FeedbackWrench Do you feel I was personally attacking you? Seems that way. I was pointing out that the numbers you give are not what most people who start a bookkeeping company are striving to attain. At your high end ($2500) that is $30,000 a year. A company that can afford that is probably not going to outsource and would rather keep all their accounting done in house. I watched your recent interview with that bookkeeper launch student. She is that norm. They are looking for a job that will pay them $60,000-$100,000 a year so they can have flexibility. What you offer is how to create a large firm which is not something most people want nor could even accomplish.
@@redtiger7268fair enough - I didn’t feel attacked at all.
What I’m arguing is that if you say at the closest busy round about or 4 way stop in average suburbia, and you counted the number of small business company wrapped trucks and trailers, you’d realize that the average business owner CAN and DO afford 1500 a month.
In fact, and I’m not kidding, every alternative is less valuable and more expensive.
And most people should not hire internal bookkeepers, they should hire internal AP and AR specialists, admins should focus on customers, getting paid and tracking things - not spending 2 days a week doing mediocre books at best.
And yes - the average CZcamsr based bookkeeper I think is being sold a lie.
Do the math - how many small clients do you need to make a living?
You would need 14 clients at 500 a month just to GROSS 7,000 a month.
And I don’t know about you, but anyone doing that isn’t THaT far from being able to make 3x that if they simply pursue clients with employees, ad a bit more value and be selective.
I was just making an argument - no attack felt and totally appreciate what you’re saying, as it’s definitely the truth for many many people.
I’d just share that one of the main problems is that you have NO IdEA what the “Typcial bookkeeper” might be.
There’s such diversity in America and there’s sooooo many people.
Most people I talk to want to create something special, not just income for themselves.
But yeah - that’s a different breed of person!