Category Archives: Members Forum

The Most Lucrative Profession

It may come as a surprise to many struggling bookkeeping firm owners that accounting and bookkeeping are the top money-money makers when compared to legal services and many other service firms. This is true in the USA where research firm Sageworks annual ranking of industries found that accounting-related firms (accounting, tax preparation, bookkeeping and payroll service firms) are the most profitable.…

The Myth of a Market Price

The law firms do it, accounting firms do it and so do bookkeepers: they each determine what they consider to be the going rate, the “market price” for the service they are delivering and either match it or discount it. But there is an underlying fallacy in this method; it’s a fallacy that a market price exists at all for a service.…

How much do you pay for petrol?

When you need petrol where do you go? Despite TV ads promising lower emissions or whatever, chances are you will still buy at the station with the cheapest petrol prices, assuming the station is close at hand when you see a need.…

How Proactive Are You?

Proactive bookkeepers and accountants are the closest to their clients and in touch with their needs, and therefore in the best position to increase their income and the positive outcomes created for clients. It’s a strong case against being a doormat; it’s really about what’s best for the two of you for the long term.…

Find your sweet spot

Buying services is not like buying stuff and loading up the shopping trolley. Think of it this way: if what you offer can be obtained from anyone, you are competing against everyone. You won’t stand out from the crowd.

Most bookkeeping service businesses are generalists.…