Navigating Changes in Bookkeeping: From Stress to Strength

There's no question. Changes in bookkeeping are all around us. Are you keeping up with them, and do you really need to anyway?

The answer must be YES!

Important Changes in Bookkeeping

COVID-19 has caused a major shift for our clients and for many freelance bookkeepers as well, forcing us to be working differently, and most often, via the Internet rather than on-site. Did you find you needed to re-think the workflow for how you are serving your clients?

You aren't alone. Those who hadn't yet embraced virtual bookkeeping were thrust head-long into it!

Additionally, some of your clients likely needed urgent help with navigating the cash flow impact of the shutdowns on their businesses. There were government loans to apply for (requiring up-to-date financial records, among other things). Now many of these clients have a new perspective on just how important it is to have a capable bookkeeper by their side when the financial going gets tough! And that need will continue as loan forgiveness looms.

If you were already running a virtual bookkeeping practice before the virus-induced changes were thrust upon us, you were likely helping your clients get set up at least on a basic level with online meetings and other ways to operative or innovate to stay afloat and keep cash coming in or employees on the payroll.

The good news: While you were learning by fire new skills and becoming more flexible during trying times, you were also learning to get valuable results for your clients (even if they were stressed and didn't thank you enough).

What Hasn't Changed

There are a few things that haven't shifted in our profession as a result of our new reality. Our clients' need for accurate books and their desire for proactive support from capable, caring accounting professionals. In fact, these needs have become even more keenly felt.

Something else that has not changed is the need for us to improve our communication skills. We also must stay current on the current online options available to us and our clients. Cybersecurity threats are rapidly growing and our clients are counting on us to keep them informed and protected.

More than ever, we are key partners supporting our clients' financial well being and their ultimate survival.

How to Go From Stress to Strength

Of course, all these changes and unpredictable future yet ahead have been stressful for everyone. In fact, you may have noticed that some of your clients are emerging as high quality ‘A Level' players based on how they depend on (and value) your services when the chips are down, despite the high stress. You also may be seeing your less-than-favorite clients putting more pressure on you, possibly demanding you to work without pay in order to support their business survival. You know the type. The ones who play win-lose.

If that wasn't enough, new regulations for government loan forgiveness are changing nearly daily, along with needs to update and upgrade your tech stack in a work-from-home world. There's a steep learning curve here for many of us. In fact, this may be causing you to re-think your own business goals for the rest of this year and beyond.

All of these factors probably has you busier than ever (maybe even a bit worn out), including providing more advisory and premium level services that your clients need right now. Do you feel like you don't know how to make these changes quick enough, especially in the current economy?

While these changes may have disrupted our comfortable pre-COVID-19 basic bookkeeping routines, it has opened the door to many more opportunities for us to grow to a whole new (more profitable) level. Where have you shined over the past couple months? What new services have you started to provide out of necessity?

Taking a moment to see what good is resulting (even beyond dollars and cents), and what new opportunities for growth have been planted with your client base means it's time to rise to the challenge, leverage your strengths, and build a more prosperous bookkeeping business. You truly can be the valued (and well paid) partner to your best clients and an invaluable guide through the rocky economic road ahead.

If any of this stirs your vision for a stronger, growth-focused bookkeeping business, then you may be realizing that you can't do it all on your own. Getting the needed support from those who have traveled this path ahead of you will speed up and smooth out your ascent. We can make much more progress together than we can alone.

Get the Support You Need Now with Bookkeeper Lab

As you know, The Freelance Bookkeeper has joined forces with Bookkeepers.com. The main reason we have done that is to support bookkeepers like you who want to truly step up and play win-win while facing the challenges and opportunities that are now here. Bookkeeper Lab is the community, training and support that is designed to do just that!

If you want to learn more about the NEW Bookkeeper Lab  Click Here Now

However, if it's just not the right time for you yet, that's okay too. It's definitely not for everyone. Bookkeeper Lab will be here when you're ready for the next level. Like I said, we're all about playing it win-win. 🙂

No matter what, I'd love to hear about the changes that you've been experiencing since March, and the opportunities that are presenting themselves in the process. Please share your experiences (and any hard won lessons) in the comments below!

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About Gabrielle

Freelance bookkeeper, trainer and consultant who works with internet savvy business owners and bookkeeping professionals to maximize cash flow and support true win-win business success.
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