How Laura doubled the turnover in her practice
We were so inspired by our conversation with Laura Green. Laura is the owner of LG Virtual Services and inspired us by her motivation to build a flexible business around her son after leaving her employer.
Laura Green started her own practice after being made redundant from her previous job. She found her niche as a Virtual Assistant (VA) specialising in bookkeeping services after researching different options during the pandemic. With her personal circumstances changing after having a baby, Laura was looking for a flexible work arrangement and saw the potential for building a successful bookkeeping practice.
Laura believes that niching in bookkeeping has been key to her success. By focusing on a specific area of expertise, she has been able to build a reputation as a knowledgeable bookkeeper who understands her specific sector. This has helped her attract the right clients and grow her business.
Laura supports her clients with a range of bookkeeping services, but started out with VA services. Becoming clearer on her niche, she specialised and has recently expanded her offering to include advisory services such as cash flow management and reporting. To ensure that her clients receive the best possible support even when she's taking time out of the business to be with her son, Laura subcontracts these additional services to trusted professionals in the field.
Over the past 12 months, Laura has more than doubled her turnover. This growth has been achieved by increasing her prices, expanding her service offering, and becoming more confident in her business.
One of the biggest changes that Laura has made to her business is moving from hourly rates to fixed prices. While one client was initially unhappy about the repricing, Laura has found how to express her value to her clients and this change has given her more control over her time and workload. With a fixed price structure, she is able to provide a more consistent and predictable service to her clients.
Laura's bookkeeping practice has given her the flexibility she was looking for. She now has Fridays off to spend with her son and was able to take three weeks off during the holidays. This has been possible because she relies on trusted subcontractors to support her business.
Laura is an inspiration to others who are considering starting their own business. With determination, hard work, and a clear focus on her niche, she has built a successful bookkeeping practice that gives her the flexibility and freedom she was looking for. Her clients appreciate her expertise and the value she brings to their businesses, and she is proud to have established a reputation as a trusted and reliable bookkeeper.
1:10 Laura's background
7:00 What a VA does
10:15 How Laura markets her bookkeeping practice
12:00 How Laura has moved into offering advisory services
16:00 How Laura has grown her practice
21:00 How Laura gets flexibility from her business
22:40 How subcontracting works for Laura