When I started my bookkeeping practice, I thought my role would stop - needed to stop at the trial balance.
How wrong I was.
By limiting myself to just processing transactions, I was performing a process, I was replaceable. I would be prepared to every other bookkeeper on the list. And ultimately, a client's choice on most occasions would come down to whether I charged more or less than the bookkeeper down the road.
Once I started to see however that I could serve my clients with more than just the data entry. That I could give them insight into their businesses, that I could help them save money, arm them with the information they needed to plan for different options, make decisions. That was a game changer.
I was able to move from hourly rate bookkeeping to fixed price retainers with a minimum monthly fee and a clear advisory package which could be bolted on to that service.
Being more than "just" a bookkeeper is a skill, it takes experience and confidence, and we've discussed it several times on the podcast. If you're interested in learning more, you might like our podcasts with James Ashford and Natasha Everard.