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Would you like a steady stream of new clients beating a path to your door?

Do you wish you could charge a higher fee for the services you provide and have your clients happily pay you?

If you answered yes to either one of these questions, it’s PEOPLE who will help you get what you want. You cannot get those results without other people!

More specifically, it’s the relationships that you build with people that will cause them to seek you out, value your services and recommend you to their friends and colleagues. Building relationships is how any struggling bookkeeping business can transition from just barely surviving (sometimes for years) into a thriving, growing, and prosperous business.

And the most effective way to build those kinds of relationships is by offering the VALUE that your existing and potential clients really want.  And it needs to be value that they recognize immediately – not what they may, in fact, need, but don’t understand or see as valuable to themselves or their business in some way.

For example, they may truly need their bank accounts reconciled to assure accuracy for their financial records, but that is likely not high on their priority list of the important tasks to manage their business. So if you are touting how you can make sure that their bank account is balanced and reconciled each and every month, you’ll have difficulty attracting new clients, or demonstrate high value to your existing clients. Many small business owners don’t even know why it’s important to reconcile their bank accounts in the first place, so it doesn’t mean anything to them. Thus, it doesn’t seem necessary or important. And certainly not something they want to pay for if they don’t have to.

The same is true if you’re promoting your services using accounting and bookkeeping jargon – accounts payable, accounts receivable, payroll liabilities, and so on. Potential clients generally do not actually understand those terms. Those words do not communicate value to them.

In reality, these words represent the functions you know how to handle for your clients. But they don’t communicate the useful value of those functions for your clients, value that your clients would be happy to hire you to provide for them.

So how do you provide VALUE that your clients will understand and readily pay you for?

Forget you are a bookkeeper! Put yourself in their shoes and consider what THEY care about. What do they spend most of their time doing in their business? What do they pay attention to on a daily basis and spend money on?

To answer these questions successfully, you need to get out of your own way and forget about what you want FROM your clients. You need to think about what they want most and how you can help them get it.

Relationships are built on exchanging VALUE. People value and are attracted to those who can help them reach their goals and fill their needs. As bookkeepers we are in a fantastic position to help our clients reach their business goals AND we can thrive in the process.

Learn the art of building relationships with your clients and prospects based on what is valuable to them, and you will not be viewed as “just another bookkeeper.” You will stand out from the crowd as a provider of REAL value. And THAT is what clients are happy to pay for because it means you are helping them get what they want. They will also talk about you to others, sparking the most powerful form of free advertising – word of mouth.

How can you learn to communicate value and build these kinds of relationships?

1. Start asking your clients and other small business owners you meet what they want most in their business that they don’t have right now
2. Pay attention to their answers and consider how the services you provide – and the information provided in financial reports – can be used to help business owners reach their goals
3. Learn how to communicate the true value your services give to business owners in a language that they can easily understand

One of the best ways to learn more about what small business owners want AND stoke the fires of word-of-mouth recommendations is to build strategic alliances with CPAs and Accountants.

If you’d like to learn how to crack the code for building this special kind of referral relationship, join me and fellow CPA networking expert, Val Barshaw, this Wednesday for our live online training, “Freelance Bookkeeper Networking: How to Build Strategic Alliances with CPAs and Accountants”

Click Here for more details

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There’s something I’ve been wanting to alert you to for quite some time. And today, I just had to say it.

“There’s a myth that so many freelance bookkeepers believe that I want to dispel right now.

And that is, if you have more and more credentials, and more and more education, that you will automatically attract more and more clients.

This is simply not true!

But it is commonly believed in the accounting field.

In fact, at a high level seminar I attended a few years ago, I heard the keynote speaker say that if you get more education, more credentials, you will grow your business.

What?

That’s just not true.

What we need to do is communicate the skills that we have because clients will not come to us unless they know that we exist.

Now, it is true if you provide high quality services that your existing clients might talk to other clients and then you might get referrals. That can happen, and does happen often.

But to effectively growing your business, more important than the number of letters after your name, is your marketing ability. You need to have good marketing in order to attract the kind of clients that need the skills that you have.

So, marketing and education are two vital tools to grow your business. But you need to focus more on marketing, especially in the beginning.

So now you know the truth.”

If you’ve already got the bookkeeping skills you need, but have been struggling to find more clients, then it’s time to learn how to improve your marketing communication skills. That’s the kind of education that can REALLY grow your freelance bookkeeping business.

My Freelance Bookkeeper Marketing webinar is popular, because many have said that they just don’t know where to start when it comes to marketing.

But I’d be interested to hear what you seasoned bookkeepers have been doing and what YOUR best sources for learning how to market your services has been.

Please share your experiences in the comments below!

An important question facing you as freelance bookkeeper is…

Are you going to specialize or will you remain a generalist?

As a freelance bookkeeper, do you offer specialty services? Or do you offer any kind of bookkeeping to anyone who’s willing to pay you to do the work?

Here’s three reasons why I strongly recommend you go the specialization route:

Specialists are viewed as experts and can charge higher fees

When you specialize in a specific type of service or industry, it helps set you apart from your competition. You have a lot more credibility, too. When a potential client is looking for a independent bookkeeper, chances are they’d much rather hire someone who already “knows” their business or the specific type of services they need.

If you provide that service or specialize in their industry, then you’re going to make it to the top of their list very quickly. And they will be more willing to pay a higher fee for your expertise.

Not specializing means lower quality service and slows you down

Choosing a specialty means you don’t have to constantly be researching how to handle new situations accurately, or worse yet, winging it and *hoping* you didn’t miss a step.

Let’s be real here. It’s challenging enough to own and grow your own professional bookkeeping business. The last thing you want to do is spend a ton of time that you can’t bill out trying to figure how to deliver the services your client is paying you for. They won’t want to pay you to learn new skills either.

But when you specialize in a particular industry or service, you are much more in control of your time, since you already know the ropes. It allows you to focus on being the best in your niche and provide high-quality services efficiently and profitably. It’s a win-win scenario.

Specializing helps you market your services more effectively

It’s tough to get the word out about your services when you’re not quite sure who your potential clients are exactly. But that’s what happens if you offer general bookkeeping services to any and all small businesses.

However, if you offer QuickBooks training and set up for online retailers, for example, then it’s much easier to market your services to those who specifically need your help. You know exactly who you’re potential clients are and the specific benefit you can provide them.

So, how do you choose a specialty?

There are a few considerations when making your choice.

• An industry: Such as, your specialty might be with staffing firms.
• A specific service: Such as, your specialty might be complete payroll services.
• An industry and a specific service: such as, complete payroll services for staffing firms.

You may be thinking that this degree of specialization limits you. However, consider this: How many staffing firm clients who need payroll services would you really need to take on before your schedule would be completely maxed out?

Additionally, if you provide your services on a virtual basis, you vastly expand the geographical reach of your service area. The reality is, there’s plenty of work to go around. Specialization simply makes your business easier to manage and grow… and easier for your Ideal Clients to find you!

Which specialty is right for you?

Specialize in what you know. If you are skilled at teaching others how to use software, then specialize in QuickBooks training. If you’re an expert at troubleshooting and taxes then specialize in QuickBooks clean up for taxes and partner with accountants that specialize in year-round tax preparation. (HINT: Don’t try to compete with CPAs for the tax work – you will do much better if you partner with them instead, since they will send you referrals once they trust you)

If you know the ins and outs of payroll for time & billing based companies, then specialize in payroll for law firms or consultants.

Specialize in what you enjoy, whether that’s the service itself or the industry. If you love gardening and flowers, for instance, consider specializing in bookkeeping for garden & flower shops. You’ll be much happier and productive if you’re doing something you really like.

Specialize in something that’s in demand. Take a look at the job boards. What jobs are commonly posted for bookkeeping positions, and from what types of companies? Chances are, there are some clues there for what’s in demand in which industry. If it’s also in an area you enjoy and are skilled in, then your chances at success are very high.

Nothing is written in stone

You might still be worried about limiting yourself if you specialize. However, remember – you are the boss! You can do whatever you want!

In reality, your business will naturally grow and change. You can always experiment with new service offerings. It’s perfectly acceptable to change your services (and clients) as you grow. Specializing simply helps you establish and grow your business so you can reach your financial goals more quickly.

So what’s your specialty?

If your business has slowed down due to the rocky economy, or just because we’re in the dog days of summer, your thoughts may be turning to how you can bring in more business quickly, or rev things up as we head into the fall.

Either way, if you know QuickBooks well, here’s an easy way to not only get the word out about your bookkeeping services, but expand the services you offer to a wider audience at the same time. All without any hard selling.

The Plan in a Nutshell

Offer to do a health check-up of QuickBooks data files

While this doesn’t sound sexy, it’s something that 95% of all small businesses using QuickBooks really need, whether they know it or not. The fact is, the vast majority of small businesses are NOT using QuickBooks correctly. Some of them have SERIOUS problems with their books that may cause a HUGE problem for their bottom line.

But you can save them from this peril!

Bookkeepers and Dentists

I’ve often compared keeping bookkeeping records up to date like going to the dentist. We all know we SHOULD do it to avoid BIG problems later, but many of us do not eagerly anticipate our next dental checkup.

In this simple comparison, however, we, as bookkeeping experts can take a cue from our dentist friends. They are pretty savvy about overcoming this hurdle and keep a flow of return patients… and revenue… coming into their office!

Yes, they take in patients with toothaches and broken teeth and make big money from those emergency services. But the foundation of their STEADY income is from the patients who are coming back for regular checkups every six months or so.

Why?

Because that’s how they uncover additional work that needs to be done. And their patients appreciate it because it takes care of problems while they are still small.

How do we apply this to bookkeeping and QuickBooks?

Not only can we help clients who have neglected their books and are in trouble because they have a tax deadline looming or some other “urgent” need to get their books straight…

But we can also help clients who have been attempting to handle their books themselves (and will ultimately get themselves into trouble).

How?

Through education, regular check ups and “repair” services.

How to Put This Simple Concept Into Action

1. Offer a free or low-cost “class.”

It could be on something like, “The Most Common QuickBooks Errors that Could Be Costing You a Bundle”

You could teach this at your local business networking groups, to past clients, or even offer it free to clients of local CPA firms who do not specialize in QuickBooks. (That gets you good exposure from two angles!)

2. Present a simple but educational session that lasts 30-60 minutes.

Brainstorm your class content by thinking about all the problems you see whenever new clients come in and their books are a mess. Show them the tell-tale signs of the most common problems as they show up on their financial reports.

If you’re part of the QuickBooks ProAdvisor program, there are also plenty of free QuickBooks training materials you could use for this and other types of QuickBooks-based classes that could serve the same basic purpose.

You want to make them aware of problems that could be draining them of profits that they need to address within their bookkeeping records.

3. At the end of the class, offer a free 30-minute QuickBooks data file check-up.

This should be by appointment and can be done at the client’s site, in your office, or via online meeting. Whatever works best for you is the way to go. The point is to get them to raise their hand and say that they want more information from you, and give you their contact information so you can follow up.

To conduct the check-up, use the Client Data Review tool available in QuickBooks Accountant Edition 2009 and newer. Or create your own diagnostic checklist.

IMPORTANT: The purpose of this “check up” is NOT to FIX problems with the client’s books! You are simply identifying issues found and providing an overall report (I suggest a written report) on how “healthy” their bookkeeping records are.

Discuss your findings with the client and then come up with a mutually agreeable action plan for…

• Prioritizing and addressing any important problems found, including your suggested solutions
• Decide whether or not the client will engage your consulting or bookkeeping services, will need guidance in fixing problems themselves, or require training to avoid repeating the same problems again
• Offer ongoing maintenance with regular check-ups to keep the books in a “healthy” condition (just like dental cleaning & checkups every 6 months!)

This process naturally leads to new client prospects, referrals and more billable work both in the short term, and over a long period of time. You will be remembered for providing this valuable, professional  service!

Even if you’re not a QuickBooks specialist, you can use these same principles to help small businesses assess the overall accuracy of their bookkeeping records, even if they’re using a pencil and paper system.

Using this simple strategy, or some variation of it, will position you as a top-notch expert in your community AND attract high quality clients at the same time.

If you’d like to learn more soft-sell, high-value ways of attracting new clients, then you’ll want to take a look at my NEW Freelance Bookkeeper Marketing course.

It’s the easy way to fill your business with more clients than you can handle, using simple, but powerful relationship-based strategies!

Get more information HERE

QuickBooks is a registered trademark of Intuit, Inc.

“How can I find new clients?”

This is the question that, far and away, both new and seasoned bookkeepers consistently ask me. They are looking for effective ways to market their bookkeeping services, especially in this choppy economy.

How about you?

In reality, ALL of us need a steady stream of new prospects, whether you run a large multi-bookkeeper business, or you’re a home-based solo freelancer. That’s because you’ll occasionally have existing clients outgrow your services (hire dedicated staff), or even leave you entirely because of circumstances beyond your control.

When that happens (and it will) you need new clients waiting in the wings to replace the lost income.

Even when you have “enough” clients, it does not mean you’re set for life. No business is static; it’s constantly either growing or dying. Choose to grow by making consistent marketing a priority, no matter how busy you get!

And of course, if you’re just starting out, or are ready to take your business to the next level, you may need more than a few new clients right now.

So…what IS the BEST way to market bookkeeping services?

It’s word of mouth, of course!

It’s powerful. It’s free. And referred clients are usually ready to engage your services right away.

In fact, most successful independent bookkeepers get a majority of their new clients from referrals. Once you’re established, referrals are like an engine that just keeps sending you more business.

Even in the beginning, the vast majority of new freelance bookkeepers get their very first client by simply letting their existing friends and professional contacts know that they are starting their own bookkeeping business. It’s the easiest first step to getting the wheels moving on your word-of-mouth marketing program.

Did you catch that?

If you’re just getting started (or you’ve hit a dry spell), brainstorm a list of everyone you can talk to about what you’re doing. Share the good news about your bookkeeping services with friends, family and any other contacts you have.  Let them know you are taking on new clients and ask for their help in your search. If you can describe the exact type of clients you like working with best, that will make it easier for them to find someone to refer your way.

And by the way, don’t assume that everyone in your life already knows what you do for a living. They probably don’t. And the truth is, you never know who they know that may need your services!

The Downside to Word-of-Mouth Marketing

There is, however, a problem with this marketing strategy.

It’s really a shot-gun approach. While it’s quite possible that you will get quick results from your initial awareness campaign, you need to focus your ongoing word-of-mouth message more specifically on those closer to your Ideal Clients (aka a specific segment of the small business market).

The easiest way to do that is to go where your potential clients gather. By doing so, you will not only have more opportunities to strike up conversations with those who may wish to hire you directly, but also with those who regularly have contact with your potential clients.

Where might that be? The basic answer is at networking events or any other location (online or offline) where your best clients might gather to talk shop or socialize (such as at Chamber of Commerce meetings, a golf club, LinkedIn Groups, charity events, industry-specific conferences, etc.)

A Key Source of Targeted Referrals

Referrals work because they are built on relationships. And in this economic and technological climate, social interaction is extremely powerful.

That being said, the best source of high quality client referrals will come from those who are already working with the clients you want to snag. Therefore, building strategic relationships with professionals whom you can complement is the #1 way for freelance bookkeepers to build a solid referral engine.

For most of us, that means building strategic alliances with CPAs and accountants. (You may also consider strategic relationships with lawyers, insurance agents and any other small business service professionals who focus on serving the same clients you do).

Yet, as powerful as these relationships are, I’ve heard time and again how frustrating it can be to “crack the code” on getting referrals from accountants.

If you’ve run into that roadblock too, you’ll be glad to know that I’m holding a FREE teleseminar specifically for freelance bookkeepers and QuickBooks consultants on how to build mutually beneficial relationships with CPAs and accounting firms.

Together with CPA networking expert Val Barschaw, we’ll reveal the simple strategies that you can use immediately to connect with CPA firms and accountants to kick YOUR referrals and word-of-mouth marketing into high gear.

If you want to listen in on this exclusive 1-hour FREE training call, mark your calendar now for next Wednesday, July 27 at 8:00 PM Eastern Time.
Then click here to claim your spot on the call.

So whether you’re looking for just one or two new clients, or you’re ready to ramp up your business with a whole slew of new clients as quickly as possible, what are YOU going to do right now to get your word-of-mouth marketing going?

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Resources

FREE Teleseminar:

“Effective Methods for Building Strategic Alliances with CPAs and Accountants”

Recommended Book:

The Referral Engine by John Jantsch

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What’s the single most powerful way to grow your business?

Based on my experience over the last 20+ years?

It’s attending live seminars and conferences.

What Makes Attending a Live Events So Powerful?

Most people attend seminars and live events because they want the education the event has to offer. They feel the new information they learn will help grow their business.

The knowledge you gain is one important benefit, no question.

As freelance bookkeepers, we have a need to stay on top of the fast-moving technology changes to work efficiently (and more and more virtually) with our clients, as well as keeping up with the growing list of software our clients are now using on their computers AND in the clouds (with a variety of devices!).

Along those lines, the two most notable annual conferences (surrounding QuickBooks and accounting technology) are:

The Sleeter Conference

Scaling New Heights

If you specialize in a particular niche, you may want to attend other seminars and conferences specific to the type of clients you serve There, you’ll gain valuable training to position yourself as THE expert bookkeeper in a particular industry.

For example, if you love doing the books for professional speakers, trainers, authors and consultants, then you might want to attend the annual convention held by the National Speakers Association.

Another choice is to attend events for entrepreneurs surrounding specific aspects of your business, such as how to market your services more effectively.

Personally, I tend to favor online marketing events, since, as a virtual bookkeeper and consultant, ALL of my promotional efforts are done using the Internet.

But there is another, even MORE VALUABLE reason to attend live seminars than for the educational content!

What Makes Live Seminars Incredibly Valuable?

The people you meet and the connections you can forge. These are what will ultimately grow your business and potentially explode your bottom line.

In-person networking helps you to build strategic alliances and stimulate new ideas that can have a HUGE impact on your business. When you look for ways that you can complement other businesses, build strategic alliances, and make friends in the process, that’s a powerful way to build your business that you just can’t do any other way.

This is true both at events you attend with your peers and those where you will be mingling with potential clients and referral partners.

An example of this for me this year was that I attended the IVAA conference, since there is a definite overlap of virtual bookkeeping with virtual assistance. The connections I made there were both with peers and complementing virtual professionals!

Personally, I’m now “addicted” to attending live events several times a year for the simple reason that I want to re-connect face-to-face with the powerful friends and business partners I’ve made at these events (and continue to build new ones, too!)

In fact, just this year alone I’ll make more than $28,000 from just one client as a direct result of a connection I made at a live seminar!

I can’t promise you’ll get that kind of tangible result immediately from attending just one live seminar. But I can tell you that I have consistently reaped HUGE benefits because of attending seminars and conferences. They have boosted my business in totally unexpected ways that would be impossible otherwise.

How To Get Results from Attending Live Events

While the sad reality is, only the top 10% (or less!) of freelance bookkeepers will make the investment to attend a live conference or seminar, it’s not just attending them that will really boost your business. It’s what you do AFTER the event that is the true “secret to success.”

(By the way, the fact that only about 10% or less of most industries will attend live events is a GREAT reason why you should be one of them! You will be rubbing shoulders and making connections with the best in the field!)

Based on the two main benefits of attending seminars – education and making connections – to maximize your return on investment, you’ll need to…

1.  Implement what you’ve learned

2.  Follow up with the people you connected with

To make that simple, you can use my own cheat sheet, which I created for myself a few years ago.

=> Live Seminar Tips Sheet

Which seminar(s) should you attend?

Here are two coming up that I’ll be attending this fall:

The Sleeter Group’s Accounting Technology Conference – this is all about the cutting edge of technology for the accounting industry. Primarily attended by CPAs, accounting IT professionals and QuickBooks ProAdvisors. Best pricing is by June 30th (TOMORROW!), but even after that date, if it’s your first time attending, let them know I recommended you and save $100

The Jim Boat – though it’s specifically geared toward information marketers, this fun-filled and educational seminar – held on a cruise ship! – is extremely beneficial for virtual professionals who market their business using a website!

If you will be attending either or both of these events, let me know so we can get together in person! I’ll introduce you to my contacts at each of these events, so you’ll be surrounded by friends. Then we can learn new skills and build our businesses together! 

What’s the next most important action to take for your business success after you find enough clients?

Holding onto them!

In a tough economy, when cash flow is tight, clients look for ways to cut costs. They may “forget” how important it is to have up-to-date financial records and view you as an overhead expense they can cut back on to save money.

Any clients who are struggling will make their decision to continue working with you based on the real value you bring to them – value they can recognize immediately.

So, how valuable would your clients say you are? Do they feel that they cannot afford to lose you?

The Secret Sauce to Client Loyalty…especially in tough times

When a client wants to cut overhead expenses, what is their motive?

Usually it’s nothing personal. It’s just that they are having a cash flow issue and need to…
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1. Maximize sales to pull in more cash
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2. Minimize expenses to hold onto what they do have
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Guess which one they usually aim at first? Yep, they usually start cutting expenses because it seems more immediate.

Bookkeeping work is considered administrative overhead that does not contribute to cash flow, but drains it.

The only time that bookkeeping becomes something of high importance to the vast majority of small business owners is when tax time rolls around and they need to report their income and expenses to the IRS. And getting the books done represents a HUGE, painful expense if they have neglected their bookkeeping over the previous year.

Some of your existing clients may have hired you initially because of such a time-crunched, painful situation. But once the deadline and pain go away, they may start to again forget the value you have to offer and start flaking out on you.

But in reality, that’s not their fault….it’s YOURS!

Huh?

In order for your clients to KNOW beyond a shadow of a doubt that you are one of the most valuable players on their business success team, YOU have to demonstrate your worth every time you provide services for them; at least on a monthly basis.

How?

By recognizing what they REALLY want most – a profitable business with plenty of cash. They don’t care about keeping up-to-date books, unless they can see how that information helps them pull in more sales.

Now before you complain that you have no control over the success or failure of your client’s business, especially if you’re doing after-the-fact bookkeeping, take another look.

The true value you could provide – from your client’s standpoint – has little to do with reconciling the bank accounts each month, running payroll checks, or getting the books organized so their CPA can prepare tax returns.

If you want your clients to sing your praises and feel that they could not survive without you, show them how they can USE the information provided in the bookkeeping records and reports to increase their sales, cash flow and give a substantial boost to the bottom line.

Now THAT’S value they can take to the bank!

Proactively caring about the success of your clients’ businesses and showing it by rolling up your sleeves and making suggestions that will affect their bank account in a hurry will lock you in for life. It is extremely rare for bookkeepers…or even CPAs for that matter… to take the initiative to give clients what they really long for…
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1. Someone who knows and understands their business from the inside
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2. Someone who can advise them on how to be more profitable
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You are in the perfect position to do both! All it takes is the use of your analytical skills to review the trends revealed in the financial reports and suggest possible ways to maximize sales and minimize expenses.

Also, pay attention to what’s working best for sales promotions, or the most profitable products or services, and brainstorm with your client ways he or she can maximize those offerings and drop the least profitable products / services to cut associated expenses.

When you are willing to take on the informal role of trusted business confidant, the result is more profit and better cash flow for your clients, and you get clients who won’t be able to live without you!

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There are actually many more small businesses that need the help of professional bookkeepers than there are bookkeepers to go around!

So why is it so hard to find new clients – especially when starting a freelance bookkeeping service business?

Get the real answer to that question (and many more) on a brand new LIVE webinar designed especially for Freelance Bookkeepers on Wednesday, February 23 at 7:00 PM Eastern Time (6:00 Central, 5:00 Mountain, 4:00 Pacific)

If you’ve been looking for …

* Effective, low and no-cost ways to pull in additional revenue quickly and easily

* A reliable way to get referrals that’s easy and sends you a steady stream of new client inquiries every month

* High quality clients who appreciate your expertise and are glad to pay you what you’re worth

…then you’ll want to join me on this ground-breaking webinar.

“Freelance Bookkeeper Marketing: Proven Strategies for Getting Clients to Come to You”

Get all the details here:

http://thefreelancebookkeeper.com/webinar

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Have you ever thought about what a little bit of fame could do for your business?

If you were considered a top, highly respected bookkeeper in your community, what kind of clients could you attract?

Best-selling business authors are assumed to be the best in their field, usually because they’ve written articles and/or published a book. That’s the catalyst that helps them get invited to appear on TV spots or radio talk shows. And you can be sure that that kind of attention works wonders for their business.

SECRET REVEALED: Business authors don’t write books to make money from the book sales, but to make sales in their business because of the authority and notoriety the books give them!

But when we think about it, what great feat have they accomplished?

Nothing too difficult, really. They’ve provided some helpful information related to their field of expertise…and made it easily accessible to the public. That’s it!

Guess what?

You can easily (and quickly) do nearly the same thing and start positioning yourself as the go-to bookkeeper in your community too! That’s what will help you attract high-quality clients to your business like a magnet (and they won’t complain about your rates, either!)

Why So Few Do It

Q: If it’s so easy, why don’t more small business owners do it?

A: Because writing a book can be a huge, time-consuming project…when done the hard way, which is how most people do it. It can take a long, LONG time. Most entrepreneurs cannot afford the time. And once it’s written, they don’t know how to get their book published.

But what’s slowing them down is actually VERY good news for you!

With the Internet and online technology, it is quite easy (and MUCH faster than traditional methods) to publish information, whether in writing, as audios, or with videos (or all three!).  You can even SELL your information to create another income stream for your business!

This is exactly what I’ve done in my own virtual bookkeeping business, and it has attracted FAR more high quality clients to me than I can possibly serve myself. I regularly refer incoming client inquiries to colleagues because I am truly booked solid. (And my colleagues always ask how I’m able to keep pulling in so much business!)

How did I get my business to this point?

By simply providing helpful, instructional information online surrounding my expertise as a QuickBooks trainer and consultant. I’m just sharing my knowledge by publishing what are known as info-products.

And here’s the secret – as a professional freelance bookkeeper, you can DEFINITELY do this too. One way is by offering a free or low-priced, special report from your company website.

That’s actually how I got started.

And the best part is, once you do it, it’s like having a little salesperson working for your business 24/7! Online technology automates the whole thing.

And I’ve got to tell you, it sure is a nice little bonus to open your email in the morning and find out that you’ve made sales (and found new customers and prospects) overnight while you were sleeping.

Will Info-Products Work For YOU?

Creating small, but effective info-products works for ALL kinds of businesses, but it’s especially powerful for service-based businesses.

Because so few people are doing this effectively, creating small but valuable educational products positions you as the obvious expert and the person your prospects will trust and want to do business with when they need your services. In effect, you won’t have any competition!

As you become more known and in demand, you can also easily raise your rates.

If you can see how powerful it would be to position yourself as THE bookkeeper to go to by simply providing useful information geared toward your best customers’ needs, then I highly recommend you seriously consider publishing simple information products as lead generators for your freelance bookkeeping business.

It’s really quite easy to do.

And remember, you can even sell the information to create an additional revenue stream. Few ways of marketing your business is sweeter than that!

But I bet you’re wondering, “Where do I begin?”

I’m glad you asked!

This coming Thursday, February 10th at 7:00 PM (Eastern Time) there’s a FREE online webinar that shows you how to create your first info-product fast AND avoid making BIG mistakes that can backfire on you and actually KILL your reputation.

Even though I’ve been doing this successfully in my business for years now, I’ll definitely be attending this online event myself. The guy teaching it is (in my opinion) the absolute BEST!

I always pick up time-saving tips every time I attend one of his events.

If you’d like to attend too (remember, it’s 100% FREE), you can get all the details here:

=> Click Here for the Webinar Details

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In the previous post we discussed some of the benefits to YOU for taking your bookkeeping business virtual. But there are some significant benefits to your clients for letting you take their bookkeeping online as well.

One of the big ones is, it can actually save them THOUSANDS of dollars in taxes, interest and penalties. No kidding.

To illustrate what I mean, let’s take a look at a Tax Court case that took place earlier this year. (K. J. Fessey v. Commissioner of Internal Revenue)

If this self-employed loan consultant had used a virtual bookkeeper to not only keep his books, but a paperless solution to handle all the paperwork, he would have saved himself a HUGE amount of time and tax dollars.

This sole proprietor ended up owing over $11,000 in taxes and over $4,700 in interest and penalties, with the vast majority of that being due to business deductions that the Court determined he could not claim.

Why were so many of his business expenses disallowed by the Court?

One word: Substantiation.

It wasn’t because these weren’t truly viable business expenses, but rather, he could not prove that the expenses were directly related to his business.

Didn’t he keep records?

Yes, but much of his recordkeeping was done using his American Express credit card statements alone. With the statements he had documentation of who he paid, how much and on what date, but nothing more. Because he did not have his receipts, there were no additional details to prove WHAT the money had been spent on specifically.

The Court denied many of his business expenses because a credit card statement alone is not evidence of the business purpose of an expense. Receipts contain details that demonstrate the nature of the purchase; just noting the vendor is not proof enough that the purchase was for business purposes.  (i.e., just because you buy something at Staples doesn’t mean it was for your business)

Receipts provide the best substantiation of business expenses and need to be stored with the credit card statements or financial records files, for tax purposes.

So how does a Virtual Bookkeeper come to the rescue?

Having complete bookkeeping records would have given him better documentation. Additionally, by using a paperless solution, electronic copies of his receipts would have been saved and tied to each transaction. He would have had air-tight proof of his business deductions. None of his deductible expenses would have been lost.

Since most small business owners don’t like to be bogged down with keeping track of all the receipts, using a paperless solution is a way to get rid of the clutter and conveniently provide the information you need as a bookkeeper to properly keep the books.

By simply scanning receipts as they come in, or gathering those that are already in electronic form, and sending them to an electronic dropbox, your client can forget about the bookkeeping AND feel secure that nothing will be lost. Should the IRS come calling, they could easily breeze through a tax audit unscathed.

And of course, we all know how difficult it can be do to “after the fact” bookkeeping from bank and credit card statements alone. So going paperless makes your job much easier, too.

If going virtual and converting business expenses to a paperless system sounds like a good fit for your business, consider which of your clients are vulnerable and would benefit most by switching to virtual bookkeeping and paperless expense tracking.

To get started, all that’s needed is a scanner.

I also highly recommend considering the use of document management software, such as SmartVault. I use that program myself, and it is a great all-in-one solution for your virtual services that also works seemlessly with QuickBooks. It’s easy and convenient to use both for you and your clients. And convenience is a BIG motivation for getting your clients to go paperless.

If the concept of using the Internet and electronic solutions in your freelance bookkeeping business is new to you, you may want to catch the replay of the free training webinar I did last week, “Taking Your Bookkeeping Services Online” (See below for details)

No matter how you decide to do it, one of the BIG reasons your clients will want to work with you, is because you can protect them from a very painful tax audit by making sure their business expenses are adequately substantiated (with receipts) and accessible.

That kind of protection is worth a lot and will help your clients, or potential clients, see the true value of what you can do for them.

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Free Resources

“Taking Your Bookkeeping Services Online” – This free training webinar replay shows you why bookkeeping services through the Internet is the wave of the future, and why getting onboard now will make your life easier and your business more profitable.

Here’s what a fellow bookkeeper had to say about this webinar:

I got so much helpful information last week on the webinar.  Just started using SmartVault and LOVE it!  Told my employer he has until the end of the year to get over keeping paperwork too.
– Karen Howell

The webinar replay is free, but it will only be available through October 31st.

=> Get Access to the Webinar Now

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SmartVault document management solution. This is an all-in-one paperless solution that also integrates with QuickBooks. In fact, SmartVault started as a QuickBooks document management product, and now is a total online solution for handling paperwork on a virtual basis. You can start using it for your own business (recommended) as well as for your clients for free (no obligation to upgrade). I use SmartVault in my own business, and believe this is the best choice for Virtual Bookkeepers.

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