The 5 Crucial Steps to Building a Six-Figure Bookkeeping firm: The Bookkeeper Breakthrough Approach
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As you may already know, I am kind of obsessed with sharing the struggles I overcame and knowledge I gained from when I owned my firm in order to support the bookkeeping and accounting community.
Since then, I've developed The Bookkeeper Breakthrough Approach which I'm thrilled to share with professionals in the accounting industry! If that's you - keep reading, friend!
Here are the five core pillars to successfully implementing The Bookkeeper Breakthrough Approach in your own firm (master them in order to break through to the next level!):
Powerful Mindset
Optimized Offers
World-Class Systems
Empowered Company Culture
Removable CEO
Are you ready to harness your power to break through? Let's get started!
Powerful Mindset
If I told you that a simple mindset shift was the cornerstone to my firm's six-figure success, would you believe it?
When I'm talking about mindset, it doesn't mean that I just tried to stay positive even when my firm was an overwhelming stress fest.
In fact, the very moment I realized that growth is inherently uncomfortable, everything changed for me as a CEO.
Too often I see bookkeepers and accountants give up because they get too busy and overwhelmed.
Say it with me: Growth is uncomfortable.
The whole point of working for yourself is freedom, right? So make an effort to apply a mindset driven by action that aligns with your vision of freedom (whatever that looks like for you).
Do you want to scale your firm, but you have a hard time imagining it’s actually possible?
I challenge you to identify EXACTLY what is stopping you from breaking through the barrier between where you are and where you want to be.
I know, it isn't fun bringing your shortcomings to light.
But here's a secret...
You can't improve, grow, or scale your firm if you’re too afraid to address what's not working. Don't choose comfort over progress!
Take the time to create a clear vision for yourself and your team, and ensure that every action you take aligns with your established company values.
Conduct a company audit on a regular basis (Team Workflow Queen does one every quarter!). Use this time to identify core issues, celebrate milestones, and create an action plan.
Want more on how to train your brain to destroy roadblocks and become a solution machine? Want to learn how to conduct your own company audit with our exact Breakthrough Business Audit we use in our business? Join Breakthrough for Bookkeepers & Accountants.
Optimized Offers
Optimizing your offers is the process of redefining your services, zeroing in on the niche you serve, and streamlining the delivery of your service. By optimizing your offers, you'll have more return on investment and the financial capacity to bring on more team members to support your firm.
If you feel stuck at a point where you can't afford to hire, but you NEED to hire in order to grow - it's time to take a hard look at your pricing and how much you actually make from each client.
There is tremendous value in taking a step back to analyze whether or not your pricing and packages are producing enough income!
Pricing is HUGE when it comes to creating optimized offers, but zeroing in on a specific niche is another big piece of the puzzle!
Too often I see bookkeepers and accountants offer tons of services, serve multiple industries, and get super burnt out in the process.
If you’re truly looking to scale your firm to align with your vision, the best thing you can do is find and stick to a niche.
Niching down to serving one industry has SO many benefits!
Streamlines processes with fewer nuances
Builds your authority and credibility
Simplifies your packages and marketing strategies
...just to name a few!
How does niching down streamline your processes?
I'll give you a real life example of this:
Think about your car. If you've had it for a while, you know where all the buttons are located, how to operate all the bells and whistles, etc. Turning on the A/C is second nature, no problem.
Then you go get a brand new car. Different make, different model. Yes, the basics are all the same (steering wheel, gas, brake), but all the nuances are different and you have to reteach your brain how to operate the car (which slows down the process!).
The same is true for your niche. If you choose one and learn the ins and outs of the client, their industry, and typical issues with their books, everything becomes inherently easier.
Your credibility skyrockets when you get on consultation calls and ask your client questions specific to their industry!
Best of all, you know exactly how to sell your services to them because you've done your research. You know their wants, their needs. You know them.
Optimizing your offers is a crucial piece to successfully scaling your firm because it allows you not only to scale, but to do it FAST!
Are you ready to streamline your packages and start charging more for your services? Join Breakthrough for Bookkeepers & Accountants here.
World-Class Systems
Most people know me for demystifying Asana and educating bookkeepers and accountants on how to effectively use a project management system to create a scalable firm.
While yes, your project management system is a HUGE piece of the puzzle, building your systems doesn't end there.
In fact, it's just the beginning.
There are many aspects to building out superior systems for your firm, such as:
Choosing the right tools/tech
Effectively managing your clients and team
Learning to leverage automation
Perfecting your project management
Ensuring your systems and software work seamlessly together
...and that's just to name a few!
My point here is, systems are everywhere in your firm! They’re not just your software.
All of the moving parts I listed above are cogs in the machine that make up the systems outside of project management. Some examples of essential systems you need are:
Sales & Marketing Systems
Client Systems
Operations Systems
Team/People Systems
I can't stress enough that robust systems are an absolute game-changer. Implementing systems in all aspects of my firm completely transformed the way I did business. I found myself getting so much more done in a day, outsourcing became a breeze, and I was eventually able to take time off (totally unplugged, during tax season 😉).
These same methods have afforded me the chance to take multiple unplugged vacations as CEO of Workflow Queen. Taking what I learned from building systems in my firm, I've had the privilege to develop a new company with systems top of mind. This allowed me to cultivate a culture of efficiency from day one, so as my team grows, everyone is able to execute work quickly and accurately.
In order to build systems that run smoothly, it's important to have the right tools for the job!
Here are the tools that I highly recommend you employ in your firm to achieve maximum efficiency:
✅ The Six Essential Questions
✅ SOPs
✅ Decision Trees
✅ Owner's Manuals
✅ Process Maps
Creating all these tools for my firm was no small feat, but I didn't have to accomplish this on my own! In fact, I highly recommend you give your team the autonomy to help you create these tools (you may be surprised at how much they can truly support you!).
It is also SUPER important that once you start to create these tools, you organize them so they can work together seamlessly.
Remember those tools I mentioned? I KNOW you want all the juicy details on how they will totally change the way you work! Join Breakthrough for Bookkeepers & Accountants here.
Empowered Company Culture
There is somewhat of a stigma when it comes to creating a company culture. If you make it too fun, nobody gets their work done. If you make it too serious, morale suffers and it's hard to keep employees.
It's important to strike a balance between the two, and to have a clear vision as to what you see for yourself, your employees, and your company's future.
Creating a company culture that is rooted in empowering those who are actually showing up for the company and dedicating a huge chunk of their lives to you speaks volumes.
This isn't just a mission statement in a bland PDF.
This is the culture that you (and your team) need to embody every day! Everyone must live and breathe these ideals while also bringing their special sauce to the table. A successful company culture is one that revolves around a few specific ideals and ALSO celebrates the uniqueness of each member!
At Workflow Queen, I expect my team to not only execute work with efficiency and agility, but also with a sense of approachability and fun!
They know when it's time to dive into some deep work and get in the zone and when it's time to decompress with a coffee chat via Zoom.
(If you've ever seen my Instagram stories, you know how silly our Slack channels can be! 🤣)
So, if sending your team a GIF to lighten the mood feels right for you, great! It is one hundred percent okay if that isn't your thing.
Just remember that the culture starts with you!
YOU as the owner need to set the tone, and follow through. Once you identify a clear company culture, it is super easy to translate it to your team.
✨ Reminder: DON'T OVERTHINK IT! ✨
Even if you have a fully remote team, there are tons of ways to embody your company culture!
If you strive to create a family-centered culture, maybe you create a Slack channel for people to share photos of their kids (and fur babies!).
Perhaps you always want your team to feel affirmed and celebrated! Try sending team members a Starbucks gift card with a personalized note when they've had an awesome win!
Here are a few ways Team Workflow Queen lives our company culture...
A virtual Uno competition
Taking funny photos (with the dogs, of course)
Ordering lunch and dining together via Zoom
I challenge you to review back to your company vision, and outline 3-5 ideals that will make up your company culture. Even if you don't have a team yet, this is still a SUPER important practice so that you can hire with clarity.
Is it your goal to run a kickass team of magical unicorns? Join Breakthrough for Bookkeepers & Accountants where we will show you to create your company culture & give you our EXACT hiring roadmap.
Removable CEO
Is there anything better than not working and still getting paid?
I don't know about you, but even though I love working for myself and I'm proud of the businesses I was able to build - I don't necessarily want to be IN the work all the time.
I'm very grateful to have the ability to take plenty of time off throughout the year without worrying if my business will be there when I return. I was even able to take time off during tax season!
The same is possible for you.
If you position your systems now with the ultimate goal of removing yourself from the daily operations, the transition will be much smoother AND faster when the time comes.
Here's what you need to know about removing yourself from your company (and still gettin' paid!):
🌈 Establish a long-term vision with clear action steps
⌛ Figure out which systems you need to create so you’re not the bottleneck in a process
🆘 Create an emergency preparedness plan
🦸♀️ Allow your team to step up, take charge, and flourish in their roles
Once you’re able to complete all of these, you'll find yourself with SO much more time to spend on what matters most to you.
Even if this goal isn't quite on the horizon for you yet, I sill want to stress the importance of establishing systems and a team that doesn't need you to function.
It may be uncomfortable to discuss, but the truth is that when you're self-employed...
You don't get sick days.
You don't get paid time off for holidays.
You may not have a 9-5, but you do have a 24/7.
Positioning yourself to work as much or as little as you please is completely achievable.
When life happens and you don't have the capacity to work, your team and systems are there to support you!
Make a list of the processes that currently rely on you. It may be a long list right now, but that's ok! The idea is to create this list so that you can have a visual of how involved you truly are with the company. Over time, you will be able to tick items off the list and effortlessly transfer ownership of these processes to your team.
Do you daydream about traveling full time AND making a full time income? Maybe you'd prefer to set up your company to sell? Join Breakthrough for Bookkeepers & Accountants here.
The Bookkeeper Breakthrough Approach: Conclusion
So there you have it! I know it can seem like A LOT to put on your plate as the CEO, but remember that the only thing preventing you from accomplishing your definition of success is the actions you take.
If you have clients and a team (or the desire to hire a team) but you're feeling stuck on how to take your firm to the next level, our group coaching program, Breakthrough for Bookkeepers & Accountants, is here to help! This high touch program dives DEEP into solidifying all aspects of your firm using my proven methods as a six-figure business owner.
