The Biggest Success Killer for Freelance Bookkeepers
I’ve come to a startling discovery. And though I guess I kind of knew this already, I really did not expect it to be such a huge problem for so many people.
What am I talking about?
It’s what appears to be the #1 problem 95% of all of the new freelance bookkeepers, and even MANY of the seasoned freelance bookkeepers I talk to, face on a regular basis. It’s not what you think.
This problem is insidious because it actually prevents us from taking on new clients and building the business that we so want to have for ourselves and our family. It can cause you to work far too hard without adequate compensation… Repeatedly! In fact, it’s almost like a disease.
But once I saw it clearly after talking one-on-one with several of my students recently, I could see just how debilitating it really is. In fact, I even know what it feels like to battle this obstacle because I suffered from it myself, especially back when I first started. (and it can still crop up once in a while.)
What is this business-wrecking problem?
Is it a lack of credentials to provide bookkeeping services to clients?
Nope.
Is it a lack of experience in working with small business clients? (In some of our more recent blog discussions we’ve had some questions surrounding those who have more than enough academic credentials, but no hands-on experience. This can be a problem, to be sure, but that is not the problem we’re talking about here)
Is it not charging enough for bookkeeping services? (This problem can actually be a symptom of it, but in itself this is not the problem.)
So, what is it already? And more importantly, is it something you’re suffering from too?
Here it is – the #1 problem I see most freelance bookkeepers struggle with that can destroy your business or cause you to struggle for years on end is a lack of self-confidence.
All of us have likely struggle with this at one time or another. That’s natural. But it has become crystal clear that this is THE biggest problem that stops so many freelance bookkeepers from ever reaching their goals. And it’s primarily based on fear of the unknown.
In other words, much of that fear is NOT based on reality. And it’s working against you, often without you even realizing it.
But why is this such a critical problem?
It’s because if you don’t believe in yourself, you will either struggle with your business for years, or never be able to get your business off the ground in the first place, no matter how hard you try.
If you don’t have the confidence to stretch outside of your comfort zone in order to actually DO the marketing that you need to do in order to attract new clients, and demonstrate your expertise, you will never be able to find paying clients who will appreciate the work that you can do for them.
It doesn’t matter how many credentials you have. In fact, I see many freelance bookkeepers going after every possible credential, wasting a ton of time and money, in an effort to feel more confident! In most cases, it doesn’t work if the real issue is on the inside.
Similarly, if you’re battling self-esteem problems, years of experience won’t matter either.
In short, it’s your mindset that tells you that you do or do not have what it takes to start your own business and make it thrive; whether you are “ready” or not. But what your mindset is telling you may not be based on the truth.
And here’s the real kicker: Even if you do stretch yourself to try to find new clients, but your self-confidence is too low, that will come across in your communication. And when that happens, those you talk to won’t put much confidence in you and your abilities either. It’s a vicious self-defeating cycle.
So, now that this monster has been revealed, what can you do if you are struggling with it? How can you banish it?
From my own experience, I’d say it is actually a gradual process. But you have to be willing to deliberately step outside of your comfort zone to do things that scare you a bit. That’s how you do battle and come off victorious.
Sometimes you may need to tell yourself that it’s okay to fail so that you can get some practice and learn how to do better. (We all have to start somewhere, after all) You don’t have to be perfect and know all the answers immediately. This applies to both your marketing and taking on new clients.
I’ve also found that having a specific plan of action to take every day step-by-step will cause you to build up your confidence. All you have to do is work your plan. You also have to be determined to do it no matter what.
These are the steps to take if you’re ready to start winning this battle:
- Identify whether a lack of self-confidence is holding you back
- Identify where it is hurting you in your business
- Choose one action you can take this week to challenge yourself and stretch your comfort zone in that area.
- Give yourself a deadline and put it on your calendar
- Take ACTION! (And promise yourself a reward when you succeed in getting it done, regardless of the results)
- Repeat steps 3 through 5 one or more times per week
By simply facing your fear one step at a time, with a plan, you can build up your confidence, even if it is only with one baby step each week.
Bottom line: it’s all about your mindset. More than anything else, it’s your mindset that determines the success or failure of your business.
In fact, I recently interviewed my own business mentor who has helped me to battle some of my self-confidence demons successfully for branching out in scary territory in my own business. (He is not a freelance bookkeeper, but he has helped me transform my business)
In this interview, he shares how he started with over $25,000 in debt to build a multimillion dollar business, now with zero debt. In his well-known animated, and entertaining way, he also explains why your mindset is so critical. This really is a complete training in how to create your own winning mindset and how to put it into action.
As my gift to you, get free access to this highly valuable recording. I know it will be a huge help to anyone who truly wants to break free from the shackles of low self-confidence and get what you want for yourself and your business faster than you ever dreamed possible.
7 Responses to “The Biggest Success Killer for Freelance Bookkeepers”
Val Barschaw on February 20, 2012
Wonderful article Gabrielle!
Here is one action that may happen far more than bookkeepers realize; and is easy to implement.
Make a file for client feedback. Then any time a client makes a statement or writes a Thank You (I often get these with their payment), put that in your file. Soon, you will be able to start your own Brag Book.
Really think about it…someone thanking you that they are paying you. It happens frequently and all we need to do is accept that fact; and give credit where credit is due.
Gabrielle on February 20, 2012
what a great tip Val!
Thanks for sharing it. It’s always a good idea to see just how many times someone tells you what you’re doing is good. And of course, as long as you get permission, it’s a great way to have testimonials that you can include with your marketing materials.
Elissa on February 20, 2012
Great article, Gabrielle! As the saying goes, Fear = *F*alse *E*xpectations *A*ppearing *R*eal. Mindset plays a huge role in life outcomes by influencing what we are and are not willing to try. You’ve hit nicely on the Catch 22 problem too–if we don’t believe in ourselves, others won’t believe in us. And that means that finding the right place to start talking to others is key–as you suggested to me when we talked earlier this month, maybe doing some volunteer work to build the confidence. Practicing good emotional self-management is important too, which is why I’ll leave up the link to my blog. If you scroll down into the first post to the section on Emotional Self-Management, you’ll find some more hint that tie nicely into your post as concrete steps one can take.
Elissa on February 20, 2012
I thought the website would appear–http://www.fiscalfitnesspro.com. And please feel free to delete the link if you want…don’t want to step on your toes here!
Dave on February 21, 2012
This article sounds like me to a tee.
I registered a bookkeeping business mid way through last year and still have no clients. Why? Because I lack the self confidence to SELL. I know this has to change.
I have all my systems, manuals and EVEN my marketing materials and presentations ready to go but still can’t manage to take that leap of faith. Bookkeeping and sales just don’t go hand in hand for me.
One of my favourite quotes thats sums things up is:
“The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt.” – Bertrand Russell.
Bob on March 6, 2012
Good article, Gabrielle. As a freelance writer of marketing communications and public relations, more than once I have encountered financial freelancers (CPAs, Bookkeepers, etc.) who have spent serious money on tactics that produced zero results. Why?
They failed to identify a target market and what they provide to that target market and — most important — which medium would best get them in front of that target market. Sure, there’s lots of social media options. But which will work best for you?
As you suggest, have a plan and take one step at a time.
Gabrielle on March 12, 2012
thanks Bob, you are spot on. Most “financial freelancers” serve any client that comes their way. Most are afraid to narrow their services down to a specific audience. There are a lot of reasons for this, but as already discussed staying general and unfocused does not a prosperous business make. The easiest way to find your specific clients (once you realize WHO they are) is to simply get out of your own way and understand them, what they do, what they want, and who they associate with. And yes, social media is one possible place to find them, depending on your market. Thanks for your insight.