EP312: Lyla Smith - Bookkeeping Mastery: Getting Back To The Basics

Aug 9, 2022

In this episode, Lyla Smith, a technology expert and advocate for getting back to basics, discusses the value of knowing your worth to engage with the right clients. She emphasizes the importance of discipline, understanding, and passion in bookkeeping. Additionally, she talks about the formation of positive communities, the consequences of tolerance, and the challenges of working with family in a family-run business.

Ask episode

Chapters

Transcript

Episode notes

Introduction

00:00 • 3min

Mastering the Foundational Basics of Bookkeeping

02:49 • 25min

Creating Positive and Respectful Communities

27:42 • 5min

The Slippery Slope of Tolerance

32:43 • 5min

The Challenges of Working with Family in a Family-Run Business

38:03 • 5min

Being Open to Learning and Growing

43:14 • 2min

“You can never become the master of one thing. There is always someone out there that knows a little bit of something you don’t have an area of knowledge in.”

-Lyla Smith Technology is great, but it can sometimes limit and trap us into ways of processing information that fail when the software does. Getting back to basics, can help you grow by giving you a greater understanding of what the technology is doing, and what could be done to improve it. Our knowledge base becomes bigger and deeper when we understand what is going on in the background. When you start to prize discipline and accountability as core tenets of your bookkeeping business, it enables you to come to communities with a hunger to learn new things, and the humility to share what you know and accept what you’re being taught. Lyla Smith, owner of Mutch More Accounting and Bookkeeping Inc, is this episode's featured guest. Her approach sees knowledge as something to be learned and shared freely among the community. Rather than guarding what we know, sharing it to lift others when they need help, so that they might lift us in our time of need. She believes when we show clients our humanity, they are far more likely to trust us with their money. If you are struggling to disengage from difficult or disrespectful clients, this is also the episode for you. During this interview, you'll learn...

The value of knowing your worth to engage with the right clients
How to work with communities to help lift others up
The importance of committing to lifelong learning

The best way to contact Lyla is directly by email at admin@mutchmore.ca.

You can also learn more about her on LinkedIn. Time Stamps 1:29 - Lyla talks about her career journey 3:08 - Changing with the times 5:20 - Committing to lifelong learning 10:06 - The benefits of the basics 13:45 - Collective mastery 18:45 - Opportunities are what you make of them 22:30 - Lyla talks about her experience with Pure Bookkeeping 30:04 - Disengaging from negative clients 35:38 - The value of honesty and accountability 38:37 - How to boundary your personal and professional life