How many CLIENTS do I need to earn 100K annually? Free download!
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- Опубликовано: 28 окт 2019
- How many CLIENTS do I need to earn 100K annually? I am often asked the question 'how many bookkeeping clients do I need?' It depends so much on the size of the client and how many hours you are able to work. I created a (downloadable!) excel spreadsheet that will help you calculate how many clients you need based on your income goals. Just put your income at the top ($100,000, or $50,000 or $250,000 and beyond) and see how many clients you need to make your bookkeeping business successful. Please SHARE this with other freelancers and entrepreneurs who could also use this income planning tool!
Client calculator (Excel Doc): finepoints.newzenler.com/f/ho...
Small, medium, large client video: • CLIENT EXAMPLES: Small...
How to start a bookkeeping business CHECKLIST download: finepoints.newzenler.com/f/st...
How to start a bookkeeping business VIDEO: • Be a Bookkeeper! How t...
My website: www.finepoints.biz/
☑️My favorite bookkeeper training (affiliate links)
💜Bookkeeper Launch free series: sk293.isrefer.com/go/BLFS/ML82/
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💜Bookkeeper Launch checkout: sk293.isrefer.com/go/BLIO/ML82/
☑️Classes taught by me
🟢How to start your business in 30 days (Bookkeeper Business Coach): finepoints.newzenler.com/cour...
🟢How to get clients (Bookkeeper Marketing Coach): finepoints.newzenler.com/cour...
☑️Free stuff
➡Is bookkeeping right for me? (free masterclass): finepoints.newzenler.com/fp/b...
➡How I got my first 3 CLIENTS (free masterclass): finepoints.newzenler.com/fp/c...
➡Start a bookkeeping business (free checklist) finepoints.newzenler.com/f/st...
➡LEARN bookkeeping (my favorite training options): finepoints.newzenler.com/f/ce...
➡Where to start bookkeeping (chart): finepoints.newzenler.com/f/de...
➡Tax Biz (free intro class on taxes): sk293.isrefer.com/go/TBFW/ML82/
➡More freebies on my website: www.finepoints.biz/resources
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☑️Other awesome classes (affiliate links)
Booming Bookkeeping: www.boomingbookkeeping.com/re...
Nerd Enterprises: www.nerdenterprises.com/a/202...
5 Minute Bookkeeping: courses.5mbacademy.com/?ref=a...
▶My Bookkeeping Tech Tools: www.finepoints.biz/blog/techn...
▶ Videos to get started bookkeeping:
Learn bookkeeping: • 10 ways to LEARN bookk...
Bookkeeper certification for FREE: • FREE ProAdvisor certif...
How to become a bookkeeper (with chart): • How to become a BOOKKE...
How to get clients: • 20 ways to get bookkee...
What does a bookkeeper do? • WHAT DOES A BOOKKEEPER...
Day in the life playlist: • "Day in the life" of a...
Bookkeeper Launch video: • 10 FIRST IMPRESSIONS o...
Client onboarding: • One Client, START TO F...
How much to charge: • HOW MUCH to charge as ...
Services to offer: • BEGINNER services to o...
▶ More videos you'll like:
Big, medium & small clients: • CLIENT EXAMPLES: Small...
Niches playlist: • Niches for bookkeepers
Before you start: • Bookkeepers: 7 THINGS ...
Impostor syndrome for bookkeepers: • How to overcome IMPOST...
10 reasons to start bookkeeping: • WHY START BOOKKEEPING?
How to clean up a client's books: • How to do a "CLEAN-UP"...
#bookkeeper #finepoints #bookkeeping
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Thanks for watching! Don't forget to download the income calculator spreadsheet (check the description box). This is a FAQ on this video I should have mentioned: I classify small clients as approximately 5hr/month, medium as 10hr/month and large as 20hr/month. This isn't a perfect science, but that is a general idea of how I'm thinking of it.
I don't know exactly when on-boarding a client where they will be (although I am getting better at determining this the more experience I get)... so, I just charge an hourly rate for the first few months. The client won't know exactly what their bill will be, but that is often the case with service providers (lawyers, accountants, plumbers, etc.). Then, if possible, I do try to offer a fixed rate once I know how much work the client will have.
Great worksheet, Morgan! Truly appreciate your willingness to share it. I also love spreadsheets! I have a suggestion for cells E9 - E11. You mentioned that when you change the hourly rate, we should only pay attention to the Annual Income in cell M13. If you put an equation in E9 (=I9*K9), then your annual incomes will always match up and it would be less yellow boxes to fill in. Maybe I'm late to suggest this or it isn't useful for your overall goal, but I don't know unless I try. Again, thank you for the time and energy you put into your videos and links!
@@nicolestalker7151 Great idea! I love fellow Excel people. :) I haven't revisited the spreadsheet in awhile, but I will take a look!
Morgan! I cannot tell you the value and inspiration you have brought me!!! I purchased an ebook from a Facebook ad and have quickly realized this is my passion and I can’t wait to get started!!! I have so much to say haha. Anyway, I found you right away and have been watching and rewatching everything! I truly thank you!
Now to my question!
In the past, have you seen any trends or are you able to give a couple examples of what professions are usually small, medium, or large clients?
I didn’t initially see this post, I was wondering how you categorized the clients by small, medium and large. I’m looking into being a book keeper. Thanks so much for the videos
Thank you for the video! I'm really interested in bookkeeping. You had the different examples of how much you might charge hourly. I've heard of bookkeepers (even with only a year of experience) charging $75/hour. Is that something that would be realistic to charge with experience? Or what would you say is the average amount?
I love this! I am a spreadsheet junkie too! Thank you so much for sharing with us!
This helps to have a vision on what goals we want to set up for our business! Thank you
These videos are great! I was offered a job to be a book keeper but don’t know how. Doesn’t seem like an exhaustive process. Definitely looking into it
I'm just starting out being a work from home Bookkeeper. This is amazing.
Congratulations on 1K Morgan🎉
This video is so helpful! So easy to use and can be applied to many types I'd businesses.
Thanks so much Marta! Glad you found it helpful--it definitely goes beyond just bookkeepers. Have a good one!
WOW! I love your spreadsheet. I will pass it around. You are so generous in sharing your ideas and tips!😊
So glad you found the spreadsheet helpful! -Gabe (FinePoints Admin)
Great breakdown Morgan! This was a great video idea and definitely motivational!!
Thanks so much! I really appreciate it!
Nice! Really enjoy the spreadsheet and explanation. One interesting factoid I'd like to know is how much you can expect to charge hourly year by year. I recall in a previous video, the approximate amount was 35-40 starting out (contractor route). A potential video idea would be to see how much your hourly/fixed rate has increased year by year of doing this.
This is fantastic! Thank you!
Thank you for providing this income calculator spreadsheet. It will help me so much with pricing and knowing how many clients I will need to gain and maintain to have a successful bookkeeping business
Hi Lee! You're welcome, glad you found it helpful!
Krista (FinePoints Admin)
Yay!! I love interactive spreadsheets!!
My people! 🙌😀 Me too, me too.
Thank you for this, I had no idea that this information was available on RUclips. It's very timely as I am starting my own online business using QBO as a platform. Many of the questions I had have been answered. Pricing seems to be the trickiest part of this, but thanks to you and some others I have come up with a good plan for my own pricing. I'm going to 'binge' on your videos today. Thanks again.
Were you able to obtain enough clients now?
You are awesome!! This helps me a lot! Greetings from Aurora, Colorado
Glad it helps! Let me know if there are other videos you'd like to see. Have a great one!
Thank you for all that you do💖
Great video. Thanks Morgan, just discovered your channel and I love that you also talk about organizaton. Can you make more of the organization videos too?
Thanks so much! I love making organization videos too! Right now my bookkeeping videos seem to be doing better with my audience--but I'll keep testing different kinds to find the perfect niche. Let me know if there's anything in particular that you'd like to see organized. :)
This is awesome!! Thanks for making this available
No problem!
Thank you. Very good information.
Love the spreadsheet!!! Thanks! I’m thinking about starting a bookkkeeping business.
Thanks for watching Kelsey!
@@FinePointsBookkeeping how can i start my bookkeeping business? can i earn it on fiverr or any other freelance marketplace?
Thank you so much for posting such a great and helpful vdos.
Thanks for watching!
Great spreadsheet! Thanks
Great spreadsheet!
THANKS VERY USE FULL
Very helpful to see all the numbers. Thanks for sharing.
Thanks for watching!
Krista (FinePoints Admin)
I love your videos. I'm in the process of starting bookkeeping business. I feel like I'm all over the place 😔. Any advice is great.
Thanks! It is hard getting started, but it gets better. Just try to focus on one thing at a time. Did you download my checklist on starting a bookkeeping business? Good luck and let me know if you have any specific questions!
Thank you so much for these videos. How do you pay yourself? Do you draw a salary or equity?
Thank you so much for all your videos 💝😊
You are so welcome!
Wow, amazing channel thank you so much!
Glad you enjoy it!
Thank you for the great video, you mentioned the quick book link and i clicked on it , my question is which type of quick book is best, simple, essential, plus or advanced. Please advise me. I need to start a quick book business.
Great Videos, currently studying for my certificate in bookeeping/accounting and like the idea of starting my own business in the future, thanks for info on how you setup your fee structure ;)
Happy studying! Starting your own business can be a lot of work, but so worth it! Let me know if there are other videos you'd like to see!
Thanks for these videos, it really helps. I basically have years of experience with Cash applications and success with B2B collections from working on a finance team. I am not sure I want to offer a total bookkeeping experience, such as taxes and payroll. Is it realistic in your opinion, that I can offer only certain services in Quickbooks and still make 60k annually with out a ton of hours?
I am in-love OMG
Could you do a video that goes into detail about what would make a client a “small client, medium client, large client”?
Good idea! I'll add it to my list!
I second this! Thanks for the great spreadsheet and content 🥰
Yes! I would have this same question!
Lmao was the first ring I was thinking
What system do you use when determining if the client is a Small, Medium and/or Large client? Is it the amount of service(s) needed, number of employees (with or without payroll), or a mixture of both? How do you determine what to charge for specific packages? Minimal vs. full-blown, even in a small business... There are some clients who are small, (flower shop), but they do not want to fool with anything financial. They want it all done for them. - Please advise. Thanks :) Love the videos! You ROCK!! - LOVE the spread sheet, too!! Very well done!! :)
Great questions! Probably too long to answer here, but I'll put this on my video list to make. I pinned my comment with small/med/large clients. Basically, I would base everything on how long it's taking you (even if it's an estimate and then you charge a set amount). Have you watched this video yet about what to charge: ruclips.net/video/tm-Eo3tke0E/видео.html
Love that spreadsheet! Great, clear video!
Thank you!!
Great resource, thank you! Do you have any videos that address subcontracting?
Do you mean being a contractor as a bookkeeper? I talk about it some in this video: ruclips.net/video/tm-Eo3tke0E/видео.html
Hey Morgan, thanks for all the information and great work you are doing. How do you distingiush a small company from a medium and a large one? Number of employees, amount of profit generated, what would distingiush one from the other. Any help would be greatly appreciated.
Hi Christopher! Thanks so much for watching--good questions, I really should have mentioned this in the video. I classify small clients as approximately 5hr/month, medium as 10hr/month and large as 20hr/month. This isn't a perfect science, but that is a general idea of how I'm thinking of it. I added this answer to my pinned comment, so hopefully others can find the answer when needed.
Thank you for this great video is full of useful information. I do have some questions you probably have made some video about this😊but: It seems like this is the revenue but what would be the profit or the monthly expenses? and How would you define a small, medium and large client?
Hi Zasquia! Here is a video Morgan made on small, medium, and large clients: ruclips.net/video/8A877-pVRKA/видео.html
Krista (FinePoints Admin)
Thanks so much for watching! If you want in-depth info and action steps on how to START YOUR BUSINESS IN 30 DAYS, check out my course here (available only in April 2020): finepoints.teachable.com/p/bookkeeper-business-coach
Great video! Already subbed
Yay, thanks! Are you a bookkeeper?
@@FinePointsBookkeeping nope but graduating soon with accounting. Hopefully i can start this for my side business. Do you think i can start it now as a student and study book keeping online or should i wait a little bit more?
If i am doing job in firm as a Acca so is it in remaing time can i manage this work also...?
Thanks! Now I would like to know what tasks are you doing for each level of client or what number of transactions determine which level to charge? THAT would determine whether I even want a $1000 client or should concentrate on the $250 - 500 level. So, any answers?
Good questions! This is a somewhat complex topic of value pricing. Currently I mostly charge an hourly rate to my clients, but value pricing is something that I'm researching and would like to implement in the future. It's definitely on my radar for a future video! I know that doesn't answer your questions exactly, but hopefully more to come on this.
@@FinePointsBookkeeping I'm taking my bookkeeping business virtual and offer flat rates for a specific set of services. I have set a goal for what I want to earn and offer adjusting packages as needed. Just wondering what you offered for your flat rates to see if I'm in the ballpark. Will eagerly await that new vid!
I've been a bookkeeper for 12 years and I would much rather have 4 easy small clients than 1 large headache of a client that takes up all your time.
How do you keep track of know how to categorize everything for all your clients? Keep all that info straight?
Do you need to figure your quarterly taxes out of the monthly amount to save?
How many clients a single bookkeeper can deal in a week or month?
So if you wanted to scale your bookkeeping business to $100,000 a year, then you would need to either have like 10 large clients, or something equivalent, and as I was watching, with the mix of small, medium, and large clients, you would be working the same as a full time employee. It averages out to about 160 hours a month, which would be about 40 hours a week. Am I right on that?
But that's also taking into consideration that you're charging $50 an hour, which you could scale up to maybe $50.
Hey so are you charging based on employees are in that business? for example you said for the small clients that pays $250 a month but there are 6 employees. So you really make $1500 in total from small clients? So is it based on how many or what?
@finePoints Please help us to find clients. Do you hire accountants?
Hi, I think the market price is really hard to get a better hourly wage payment, I have several years of experience in Accounting and business don't want to pay more than $ 25 in San Francisco, luckily one or another one for $ 30, that's what I found with other Accountants and bookkeepers too.
Thank you for sharing what you have experienced in your area.
Krista (FinePoints Admin)
How many clients is needed to make a small client? medium client? and large client?
How did you determine the size of the company? I saw in an another answer you stated 5 hours per month. So how did you get that at the beginning of taking on the client? How many hours are considered for a medium & large company? Thank you for helping!
Hi! The small is 5hr/month, medium is 10hr/month and large is 20hr/month. I don't know exactly when on-boarding a client where they will be (although I am getting better at determining this the more experience I get)... so, I just charge an hourly rate for the first few months. The client won't know exactly what their bill will be, but that is often the case with service providers (lawyers, accountants, plumbers, etc.). Then, if possible, I do try to offer a fixed rate once I know how much work the client will have.
Hope that helps! It is sometimes hard to predict the amount of work. Are you a bookkeeper? What stage of business are you at?
FinePoints thank you! Super helpful!!! I’m just starting, looking for clients!
@@jenniferpayne2446 Good luck! I have heard that from others as well, so I'll try to do some more content on client search. :)
Here's a video about client size. How's your business going Jennifer? ruclips.net/video/8A877-pVRKA/видео.html
Thnx a zillion
Most welcome
I have been working as an accountant in India for the last 15 years. My pay is very low. May I work for you as your assistant remote accountant. Please reply
Is this number of clients realistically doable? I'm just in the very beginning phases of my business, so I don't really know what the work load would look like with 15+ clients.
I do believe so! It obviously depends on how much time you spend on each client. I connected with a bookkeeper who said he had over 100 small clients (hard for me to picture, but I believe him!).
❤
Thanks for watching!
Krista (FinePoints Admin)
When you are onboarding new clients, how do you predict how many hours you will have to work for them?
Based on the size of client they are. Here's a video that explains this: ruclips.net/video/8A877-pVRKA/видео.html -Gabe (FinePoints Admin)
Hey a question?your clients are remote? Or you visit them at office weekly?
Mostly remote
How do you distinguish between a small, medium, and large client?
Good question... I classify small clients as approximately 5hr/month, medium as 10hr/month and large as 20hr/month. This isn't a perfect science, but that is a general idea of how I'm thinking of it.
How long do clients typically stay with you? Do you have "life long" clients? If so, how do you inform them of rate increases as you grow over the years?
Hi Stephanie! I think it's very possible to have lifelong clients--I haven't had to deal with this yet (as I grew my business, then chose to cut back for a bit when I had my second child... so I gave away clients to another bookkeeper). I've thought about the same question, but I'd imagine that you'd do it similarly to other industries, maybe give your clients a 6mo heads up that prices will be changing in January (for example) and give the reasons why (your costs have gone up, your experience, etc). Not sure if that's helpful, but I'll keep it in mind as a video if I need to do it!
Hey, I'm confuse. Do we pay the client per hour and monthly?
Hey! Morgan typically has clients pay hourly to start off as she gets them onboarded and caught up or set up in QBO. After that, Morgan switches to a monthly charge based on the size of the clients and the amount of tasks they need completed.
Krista (FinePoints Admin)
I am not from United States but I have 5 years of public accounting firm experience in US taxation. WILL I BE ABLE TO START AN ACCOUNTING BOOKKEEPING BUSINESS.
I'm sure someone has done it successfully! That's not my area of expertise, but I do get this question a lot, so I'll try to do some research. Thanks for watching!
@@FinePointsBookkeeping yes please😄 in fact I am also pursuing my EA as well. I intent to provide book keeping and accounting services for the clients. So your direction will be very useful for me to make this decision.
Hello,
I just keyed my email and name to get the calculator and when i went to opened the excel spreadsheet, it gave me an error message. Could you email me the spreadsheet to me please? My email ends with an edu
Sorry about that! Send me an email with which one you need in the title: morganfinepoints@gmail.com
But are you physically and mentally able to handle 15 clients at the same time?
Better to value charge then to hourly charge as a general rule of thumb because you get punished for working smarter...
Hi morgan can you please explain how get work from cpa related accounting
Hi! I'm not quite sure the info you're looking for. I'm a bookkeeper, so I got certified in Quickbooks and work for small business clients. I have some videos on how to start a bookkeeping business, get clients, etc. Let me know if that helps answer your question!
ruclips.net/video/W089i96rbzI/видео.html
ruclips.net/video/v92DBK9dbLA/видео.html
Actually i am from india and i am work for us based accounting qb desktop qb online i want to start new work for your information i already email you please check your email morganfinepoint and reply further i can't work for direct client i work for only cpa or like you bookeeper like outsource usually lot of cpa and professional out source their work and we are work via remote desktop usually i charged $ 13 to $ 15 per hr for any size business acconting their sales tax filling 1099s prep please check your email i already mention fully
@@mohammedimran2813 I'll check my email. 😊
Thank you for ur time
What’s your definition for these different clients?
Hi! What do you mean by definition? Like, what services to provide the $250 clients? A small client would be about 5 hours of work per month. Let me know if that helps or if I can clarify!
Thank you!
Is this excel spreadsheet still available?
Hi Felicia! You can find the Client Calculator here: finepoints.newzenler.com/f/how-many-clients-spreadsheet-freebie
Krista (FinePoints Admin)
Here is the aha moment, no freedom lol😂 isn’t that the purpose of having your own business? Nope when you have your own business you work way more hours and that is a must in order to reach goals.
Yes, it's easy to get into the trap of over working to reach goals and setting boundaries is important when you have your own business!
Krista (FinePoints Admin)