Can bookkeepers make passive income?

The Bookkeepers’ Podcast discussing how bookkeepers can make passive income or recurring revenue.

In this episode of The Bookkeepers’ Podcast, we spoke to Lisa Johnson from That Strategy Co about how bookkeepers can make passive income or recurring revenue. Lisa describes the difference between recurring revenue and passive income and how recurring revenue will help you meet your income and time balance goals.

In the quest for financial freedom and a balanced work-life dynamic, the concept of passive income has increasingly become a beacon for entrepreneurs and business owners. Among these aspirants are bookkeepers, who traditionally rely on hourly or project-based billing. But can bookkeepers pivot towards passive income? Lisa Johnson, a multi-seven-figure entrepreneur renowned for her strategic approach to business growth, sheds light on this possibility.

The Journey to Passive Income

Starting from a challenging background, Lisa climbed the corporate ladder, only to realise that true financial freedom required a different path for her. Her pivot to entrepreneurship, catalysed by the desire for a better work-life balance after becoming pregnant with twins, marked the beginning of an extraordinary journey.

Her initial venture into wedding planning eventually evolved into a broader business strategy role, where she discovered the allure of recurring revenue.

The term “passive income” often conjures images of effortless earnings and overnight success. However, Lisa and her peers emphasise the reality behind the dream: passive income requires significant upfront effort. The key lies in creating assets or systems that, once established, generate income with minimal ongoing work. This distinction is crucial, moving away from the stigma of “get rich quick” schemes to a sustainable, long-term strategy for income generation.

Practical Paths to Passive Income for Bookkeepers

For bookkeepers, the journey towards passive income can take various forms, leveraging their expertise and the unique needs of their clientele. From creating templated resources for common bookkeeping challenges to offering specialised courses on niche topics, the opportunities are vast. Lisa’s experience with clients who’ve monetised their unique skills—ranging from potty training twins to meal planning for busy moms—illustrates the diverse avenues for passive income.

Lisa’s upcoming challenge

From the end of February, Lisa will be running her annual Race to Recurring Revneue 4-day challenge, designed to introduce participants to passive income creation.

Register now for an exciting look at what the future could hold, plus your chance to win some great prizes! https://zoewhitman–lisajohnsonstrategy.thrivecart.com/otm-2024/?ref=video

About us

We help bookkeepers find clients, make more money and build businesses they love that work for them. We’re raising the profile of the bookkeeping profession and bookkeepers worldwide.

Whether you’re a bookkeeper or accountant wanting to grow your own business to have the flexibility for your life, and your family, come and join us.

Join our FREE Facebook community, The 6 Figure Bookkeepers’ Club, to experience this revolution for yourself. Connect with us at 6figurebookkeeper.club. Visit our website at 6figurebookkeeper.com.

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Quiz

Are you 6 figure ready? Find out at 6figurebookkeeper.scoreapp.com

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Courses

Find out about how we can help you at 6figurebookkeeper.com/bookkeeper-courses 

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About our Sponsor

This episode of The Bookkeepers’ Podcast is sponsored by Xero. Find out more at:

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The information contained in The Bookkeepers’ Podcast is provided for information purposes only. The contents of The Bookkeepers’ Podcast is not intended to amount to advice and you should not rely on any of the contents of the Bookkeepers’ Podcast. Professional advice should be obtained before taking or refraining from taking any action as a result of the contents of the Bookkeepers’ Podcast. The 6 Figure Bookkeeper Ltd disclaims all liability and responsibility arising from any reliance placed on any of the contents of the Bookkeepers’ Podcast. 

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