The Successful Bookkeeper Podcast

It is almost the end of 2022 and wow, do we have an incredible episode for you to finish off the year! In our special Year in Review show, Michael talks to a panel of terrific guests about the ups and downs of the industry this past year. Our returning Year in Review guests are Julie Watson, founder of Bookkeeping Relief, Jessica Fox, owner of Florida Virtual Bookkeeper, Teresa Slack, co-founder of Financly, and Katrina Aarsman, CEO of Pure Bookkeeping Australia. Our guests reflect on their biggest surprises of 2022, tell heartwarming stories of success, navigate the complexity of growing businesses in an ever-changing and challenging market, and discuss the future trends facing us in 2023. Whether 2022 has been a year of success or a year of challenge for you, there is something for everyone in this episode. From fears around inflation and staffing, to the success that can come from taking on a more advisory role with your clients to help them build strong and profitable businesses. Our guests speak powerfully about the struggles they have witnessed this year, and yet still leave us feeling uplifted and ready to face the challenges of 2023. There are so many incredible nuggets of wisdom in this episode, so grab your headphones, a cup of tea and settle in! We are so grateful to all of our wonderful listeners who have joined us this year. YOU make this show possible. Thank you and HAPPY NEW YEAR! During this interview, you'll learn... The value of learning from failure to build a successful bookkeeping business How to navigate the changes & challenges of the industry The importance of getting your long-term strategy right & knowing when to pivot Find out more about our guests: Katrina Aarsman Julie Watson Jessica Fox Teresa Slack Time Stamps 01:23 - Michael introduces this episode's special guests 02:22 - The panel talks about their biggest surprises of 2022 08:35 - Knowledge building; the impact of virtual & in-person events 12:45 - The challenges & setbacks of 2022 21:31 - How do we navigate these complex changes & challenges? 27:45 - This year's heartwarming stories of client success 37:24 - The heartbreaks of 2022 50:23 - Strategies for growth: what didn't work this year 01:03:06 - Strategies for growth: what really worked this year 01:13:29 - Industry trends heading into 2023 01:21:23 - Our guests talk about their big focus for 2023 This episode is sponsored by our good friends at BILL! BILL helps automate finances for hundreds of thousands of small to midsize businesses so they can easily and quickly pay bills, collect payments, and manage employee expenses. With BILL, your clients—and you—will get greater visibility and control and more time to spend on the important stuff. To learn more and get 10% off for your clients visit Bill.com/successfulbookkeeper.

"We all are really good at one or two things, but we can all do maybe 20-100 things, and sometimes as entrepreneurs, I think we get caught up in the 'I have to do it all.'" -Nikki Rausch Pressure is a great motivator, but too much can damage the quality of our work and cause us to burn out. When we hold onto the belief that we are the only person that can achieve the right results for our clients, we end up with much less time to actually focus on the key things they hired us for in the first place. Clients want to work with experts, but that expert doesn't have to be you. It is okay to share clients with your team, not because they aren't as worthy of your attention, but because you have trained and trusted your team to deliver the best possible outcome for your clients and your business. Nikki Rausch, who is the CEO of Sales Maven, a podcaster and author, is this episode's featured guest. Nikki is a firm believer that none of us achieve success alone, and that our genius and skills are diluted when we spread ourselves too thinly. That is why we must hire people to do the things we can't, we must build teams of people that complement and make each other stronger. If you are struggling to scale your bookkeeping business, feeling too thinly spread, or struggling to prioritize the best outcomes for your clients, then this is the episode to get you thinking more clearly about what building your dream team could really do for your business. During this interview, you'll learn... The value of building a skilled team in your bookkeeping business How to stop underselling yourself to clients The importance of understanding what kind of relationship your clients want Click this link to find out more about Nikki. Connect with her on LinkedIn, Instagram or Facebook. Click here to listen to Nikki's past Successful Bookkeeper podcast appearance. Check out this Sales Maven podcast episode regarding how to sell clients on working with your team. Get Nikki's free download for TSBK listeners. Time Stamps 01:24 - Nikki talks about her experiences since her last guest appearance 02:21 - The importance of having a team in your business 04:58 - Selling clients on working with your team 10:14 - How to stop underselling yourself 18:21 - Building the right relationship with your clients 24:44 - Dealing with & adapting to crisis & change 30:10 - Telling the story of your business 34:00 - Motivating your team 36:01 - Connecting with Nikki This episode is sponsored by our good friends at BILL! BILL helps automate finances for hundreds of thousands of small to midsize businesses so they can easily and quickly pay bills, collect payments, and manage employee expenses. With BILL, your clients—and you—will get greater visibility and control and more time to spend on the important stuff. To learn more and get 10% off for your clients visit Bill.com/successfulbookkeeper.

"If you can answer the questions that are being asked to people that don't even know what their questions are to begin with, then you have created a name. People will say you've gotta come and see what he's doing for us." -Michael Alliman In part 2 of the interview with Michael, he digs into the importance, power, and potential that can be unlocked when businesses find and focus on their niche. All too often, we think that in order to be successful we have to do as much business as possible with anyone that will have us. But this spread-out and scatter gunned approach keeps us only being good at surface-level skills. When you find your niche, you'll move away from the surface and create a depth of experience that will see new clients seeking you out. Letting go of the short-term earning potential of taking every client is scary, but you'll never have the kind of business that is scalable and successful, if you can't offer niched skills and services, rather than generic ones that are available everywhere. Michael speaks from experience that the demand for quality skills will enable you to command quality prices. And when you have your niche, you'll be able to help your clients build their dreams, not just balance last month's books. During this interview, you'll learn... The value of finding your niche How to effectively sell your expertise, so clients seek you out The importance of building the kind of company you would want to work for To find out more about Michael, click here. Connect with him on LinkedIn. Time Stamps 01:37 - Helping others to understand your value 10:30 - When you niche clients, they will find you 14:30 - Figuring out niche trends 16:50 - Selling your experience & enjoying it 18:44 - Custom building narrative reports 23:18 - Building the kind of company you'd like to work for 25:30 - How to get in touch with Michael

"I'm not the expert in real estate, that's why I hire you. It doesn't make any sense for me to learn it just to buy one house, as it doesn't make any sense for you to learn accounting just to get your own numbers in order." -Michael Alliman Creating, owning, and running our own business is really challenging. So many things need our attention that it can often feel overwhelming, like we can't get our heads above the water. The desire becomes to keep throwing ourselves at problems, rather than take a deep breath, dive beneath the surface, and find a place of calm and wider perspective to help us resolve them. In this first part of a two-part interview, Michael Alliman, owner of Alliman Business Group and Reconcile bookkeeping, talks about overcoming the things you think are holding you back to find your own rhythm of success. Michael speaks inspirationally about the way he has taken his ADHD diagnosis and turned it into a hyper-focused superpower that enables him to dial into detail in a way that has become a great selling point to clients. He also speaks about the need to stop setting unrealistic goals and punishing ourselves when we can't meet them. If you are facing difficulties in your life or business and are struggling to change your mindset from one of fearing your complexity to one that embraces it, this is the episode for you! During this interview, you'll learn... The value of embracing what your differences bring to the world How to shift your mindset away from fear & toward success The importance of getting focused on what it is you do well To find out more about Michael, click here. Connect with him on LinkedIn. Time Stamps 01:42 - Michael talks about his career journey 06:25 - Creating a company you'd like to work for 09:19 - Overcoming the challenges of business 14:04 - Learning to recognize what difficulties have to teach us 18:40 - Embracing the value of difference

"You need to surround yourself from an inclusion standpoint, with people who fill in the gaps and complement the skills you don't have so that you don't have those blind spots." -Carice Anderson Building a business is never easy, and yet we often make it so much harder for ourselves by believing we can't be truly successful unless we are the ones doing everything. This kind of thinking only leaves us with skill and knowledge gaps we didn't even know we had. Being intelligent alone isn't enough. There will always be things we are drawn to and things we don't like doing. What matters is the ability to recognize when we have gaps and fill them with people who complement the skills we lack. Carice Anderson, a workplace diversity and inclusion expert and author, is this episode's featured guest. She has spent her career working to understand why even after achieving so much academically, there were still so many gaps that could only be filled by the experiences of others. She speaks powerfully about the need to build connections between people. To work on your relationships with others, not just in them. To think in the long term about people, not just in the short term to meet a deadline or push a product. If you are trying to go it alone and finding that maybe you don't even know what questions you should be asking, this is the episode to get you thinking about how a mindset shift might open up a world of possibility. During this interview, you'll learn... The value of taking ownership of your client's problems How to work on your relationships, not just in them The importance of creating a support network for success To find out more about Carice, click here. Connect with her on LinkedIn, Twitter, Instagram and Facebook You can buy Carice's book here. Time Stamps 01:42 - Carice talks about her career journey 03:52 - Learning to adapt when things don't go your way 08:10 - Overcoming personal obstacles 11:13 - Carice talks about her book 15:28 - Working on your relationships, not in them 18:55 - Tips for building healthy relationships 25:40 - Introversion vs extraversion; creating connections in a different way 28:20 - Ownership, taking responsibility & initiative 33:35 - No one becomes a success alone, it takes a community 36:40 - Learning more about Carice

"With Anchor, you work and then you get paid by default and your client needs to actively do something in order for you not to get paid." - Omry Man It's well-known that comfort and convenience rule everything we do. People and especially clients are always looking for simpler and more effective ways to handle their business. We have all had clients that aren't good at paying us on time, not because they are bad people, but because their priorities and attention are directed elsewhere. Omry Man, co-founder of Anchor, is this episode's featured guest. He recognized a gap in the market, a gap created by the friction between bookkeepers and their clients. Anchor is an autonomous billing solution that sets out payment relationships from the get-go, and automates the entire process. So, you never have to wait on a bill again. If you are struggling to get clients to pay on time, are feeling strained around repeatedly asking for payment, or are even too scared to push for the money you are owed for fear of losing a client, this is the episode for you. During this interview, you'll learn... The value of being consistent with your clients How automation reduces friction in relationships The importance of streamlining your services to focus on your bookkeeping business Click here to find out more about Anchor. BLACK FRIDAY SALE OFFER: Anyone signing up or booking an Anchor demo during November, who bills over 50 monthly invoices, is eligible for $500 in Anchor credits to use in their first 3 months in Anchor. Visit this link for more details! Connect with Omry and Anchor on LinkedIn, Instagram, Twitter and Facebook. Time Stamps 01:48 - Omry talks about his career journey 03:55 - Overcoming bad experiences with clients 09:10 - The real reason your clients aren't paying on time 13:20 - Using automation to reduce friction 17:20 - How Anchor works for you & your client 20:14 - The right metrics to measure 26:20 - Getting connected with Anchor

"There will always be chaos. There will always be change. You will always be dealing with fires in your life, and it's really about how you respond to the chaos that will determine your success or failure." -Elisa Schmitz The way we think becomes the way we act. If our thoughts are riddled with self-doubt and fear, we are never going to get to the place of success we dream about. Life is full of change and chaos, and there will always be another fire to put out. What separates successful people and businesses from the unsuccessful, is how they learn to adapt and respond to the chaos. Often our lack of self-belief comes from doing things differently from other people in our industry. Yet it is those very differences that allow us to offer unique strengths and perspectives no one but us could. Elisa Schmitz, founder and CEO of 30seconds.com, and author of the new book, Become The Fire, is this episode's featured guest. Elisa has spent her career helping people embrace failure as a tool for learning and teaching them to shift their mindsets from ones based on fear to abundance and growth. If you feel like you are pushing against the tide, unsure where to start or how to let go of the fears that have long protected you then this is the episode to pull you into the fire and so you can start to truly realize your personal and professional dreams. During this interview, you'll learn... The value of practicing resilience in your personal & professional lives How to transfer your mindset from fear to abundance The importance of embracing chaos & change To find out more about Elisa, click this link. Connect with her on LinkedIn and Twitter. Click here to learn more about her new book. Time Stamps 02:07 - Elisa talks about her career journey 04:44 - The birth of 30Seconds.com 07:52 - Riding the business owner rollercoaster 09:33 - Learning to embrace the chaos 12:27 - Seizing your moment when it comes 15:25 - Practicing a resilience mindset 22:42 - Elisa's strategies for success 27:48 - Making friends with your fear of change 32:34 - Where to find Elisa's new book

"If you have the belief, you can't get off that rat wheel…you're not going to reach out for something to build the skills to help you." -Sharon Francisco The wheel keeps turning and if we are not careful, we can end up trapped chasing the same things that aren't working for us. Belief is a key component in the mindset of successful people. Very rarely do people master a skill on the first attempt. They become masters by believing that with every practice attempt, their abilities will improve. If your environment and the people in it aren't serving to help lift you up to new heights, it might be time to consider a change of metaphorical scenery. To seek out a better space and people who can teach you the valuable skills you feel you are missing. Sharon Francisco, an Australian bookkeeping business mentor, is this episode's featured guest. She speaks about the need for belief and confidence when building a business and explores the key assets that will set the firms of the future apart. Her approach to mentorship sees bookkeepers overcome their barriers and limited beliefs, by getting hands-on with the aspects of business that have previously scared them. Whether you are struggling with pricing, or which niche to focus on, or how to hire the right people, you will only get better with practice. If you need that push, that injection of courage to get off the wheel and start moving in the direction of true success, this is the episode for you! During this interview, you'll learn... The value of developing your niche skills to charge premium prices What the future of business is going to look like The importance of building a positive environment for your bookkeeping business Click here to find out more about Sharon or connect with her on LinkedIn. Time Stamps 01:38 - Michael & Sharon catch up 03:20 - Overcoming the barriers to success 07:38 - Building a positive environment 11:43 - Working on your business, not just in it 19:18 - Firms of the future: the ingredients of success 26:50 - Building positive relationships & good impressions 31:42 - The nine projects - a road map to the future

"Leadership is something you do with people, not to people." -Dr. Elizabeth Moran We have all found ourselves at one time or another having to react to an unexpected change. Often those of us that go into business for ourselves do so to have more freedom and control over the decisions that will affect the long-term viability of our businesses. Problems start to occur when we become so avoidant of change that we fail to address the concerns our employees or clients have in the choices and changes we make. But we do not have to fear change or be reactive and defensive to its presence in our lives. Dr. Elizabeth Moran, an experienced leader, consultant, and coach is this episode's featured guest. Dr. Moran has spent her career helping teams and organizations navigate and evolve through complex changes. She speaks powerfully to the need for curiosity when addressing change, the value of allowing yourself and your teams to explore and play with what the changes may mean, and how to take the time to reconnect with why you wanted to do what you do in the first place. If you are struggling to adapt to change or find it challenging to evolve at the same pace as your teams, leaders, or other organizations, this is the episode to help you take a pause, dig into where you are placing your energy and intention, and get curious about what changes could really mean. During this interview, you'll learn... The value in taking time to reflect on the impacts of change How to overcome resistance to change The importance of reconnecting with your why Click here to find out more about Elizabeth. Connect with her on LinkedIn. Click here to pre-order Elizabeth's new book, "Forward: Leading Your Team Through Change." Time Stamps 01:51 - Elizabeth talks about her career journey 04:52 - The peaks & valleys of starting your own business 11:08 - Common mistakes facing leaders 16:42 - Understanding why we resist change 22:17 - Embracing the chaos of change 26:01 - The networks of our brain & how to engage them 29:41 - Taking a pause to truly reflect on what leadership means 33:38 - What it means to be a change maker 40:40 - Adapting, evolving, and overcoming 45:14 - What does change mean for me & why? 50:14 - Elizabeth talks about her new book SPECIAL ANNOUNCEMENT: Don't miss your LAST chance to get your free ticket to The Successful Bookkeeper Summit! Click here for more information!

"The minute you move into a leadership role, it's no longer about you." –Shelli Warren Being a great individual contributor doesn't always make for the best leadership material. We all know someone who is great at what they do but struggles to scale those skills when put into a leadership position. When filling leadership roles too often we are looking for someone to fill a gap, when we should be looking for someone who will grow and fulfill the future needs of the business. Stepping up can be a real challenge. It takes courage to seek out people that can help us on our journeys to becoming effective leaders and the will to take an honest account of our current skills and get focused on self-development. Shelli Warren, a team and leadership coach with Biz Chix and host of the Stacking Your Team podcast, returns to The Successful Bookkeeper podcast this week. (Catch her previous episode here.) Shelli has spent her career developing people into leaders. Questioning, encouraging, and helping people from a range of industry backgrounds to understand what it really means to be a leader. If you are struggling to break into a leadership role, or are currently in one, but don't know why things just aren't working the way you had hoped, this is the episode for you. During this interview, you'll learn... The value of hiring for the future, not for a crisis How to upgrade your leadership skills The importance of understanding team dynamics Click here to learn more about Shelli and Biz Chix. Listen to the Stacking your Team Podcast here. Connect with her on LinkedIn. Time Stamps 02:04 - Shelli talks about her career journey 04:02 - Shouldering responsibilities with grace 06:38 - The key skills of a good leader 13:32 - Good business leadership: a personal inventory 23:22 - Hiring for the future 27:28 - Why leadership skills are so rare 30:13 - Figuring out how to upgrade your leadership skills 39:14 - How to promote a team member into a leader: TSBK Summit sneak peek 42:20 - The perfect time to grow 45:46 - Where to find Shelli SPECIAL ANNOUCEMENT: Don't miss a chance to get your free ticket to The Successful Bookkeeper Summit coming up on November 9th! Click here for more information!