A word of caution about quoting based on most recent 3 months of transactions: You need to know if a business is consistent throughout the year or if it's seasonal. Let's say you follow this framework and are onboarding a business like a ski lodge or something like a Spirit Halloween during their off season. Spirit Halloween would experience the bulk of their transactions for the year in and around October. If you onboard them in May, you're going to under-quote and be VERY busy, come Halloween. I'd make sure to ask the owner or rep you're in contact with whether the business is seasonal (is one quarter unusually busy).
Respectfully, from a business management point of view, one year to get a client tells you that your market is overcrowded and that you should look for a different business. Two golden rules of business: 1. Never start a business until you get clients. Otherwise, you will start losing money. Throw some numbers around to see how long you can keep that up. 2. If you're starting a business while unemployed, do something that's easy for you to start. Do not start like that you have to learn bookkeeping and quickbooks first, because it would force you to start offering g your service/product later. And if the market tells you that it can take you one year to get a customer, then you could be unemployed for a year.
How do you handle a client that is very slow in responding to emails and also giving you follow-up information? For example, questions you may come across that need owner's input.
I really struggle to keep my own books up to date. I catch up at tax time. I always feel like I can't spend time on mine when there's so much client work
Hey, great content! Have you had any success with cold calling or is it just social media? I know you did a cold calling video a while back, but was curious if you still engage with that method.
I seem to find clients that are tire kickers, and that don't respect the value of a bookkeeper and feel like that there is a ton of bookkeepers they can go to, so you're replaceable.
Have you had any problems with QBO system generated fake transactions? QBO system generated marking invoices paid when no money was received? How do you handle the QBO glitches, they can wreck havoc.
A word of caution about quoting based on most recent 3 months of transactions: You need to know if a business is consistent throughout the year or if it's seasonal.
Let's say you follow this framework and are onboarding a business like a ski lodge or something like a Spirit Halloween during their off season. Spirit Halloween would experience the bulk of their transactions for the year in and around October. If you onboard them in May, you're going to under-quote and be VERY busy, come Halloween. I'd make sure to ask the owner or rep you're in contact with whether the business is seasonal (is one quarter unusually busy).
That’s great advice!
hey i must say your video is very educative ,Am graduate of Accounting but i dont know how to use quick book.
Thanks for watching!
I missed the live! I am watching now!
I hope you enjoy it!
Thanks for today's Magic Answer. Very helpful
Glad it was helpful!
I like the focus on the software for your niche. Instead of industry niche.
Me too 😁
I regret that I used an ACH/cc form in my orginal contract. My highest paying client (2k/ month) chose credit card. I won't offer that again
I charge a 3% convenience fee to process cards
Respectfully, from a business management point of view, one year to get a client tells you that your market is overcrowded and that you should look for a different business. Two golden rules of business: 1. Never start a business until you get clients. Otherwise, you will start losing money. Throw some numbers around to see how long you can keep that up. 2. If you're starting a business while unemployed, do something that's easy for you to start. Do not start like that you have to learn bookkeeping and quickbooks first, because it would force you to start offering g your service/product later. And if the market tells you that it can take you one year to get a customer, then you could be unemployed for a year.
There’s definitely a lot to consider
How do you handle a client that is very slow in responding to emails and also giving you follow-up information? For example, questions you may come across that need owner's input.
That happens all the time, that’s one of the biggest challenges
Thank you, Marcus 36:40. Great question 👍🏾
Happy to help!
Very helpful thanks.
You're welcome!
What software would you recommend using to create contract agreements or quotes?
www.pandadoc.com/?Affiliate&Affiliate&ps_partner_key=emFjaHBhc3F1YXJpZWxsbzc3Nw&ps_xid=ouLnOi2dMQVSzd&gsxid=ouLnOi2dMQVSzd&gspk=emFjaHBhc3F1YXJpZWxsbzc3Nw
Do you meet with your clients on video? Do you meet with them just on the first intro meet and onboarding?
I never do video meetings. Everything is over the phone
I really struggle to keep my own books up to date. I catch up at tax time. I always feel like I can't spend time on mine when there's so much client work
Treat your own business like a client! Add your self to the end of month checklist 😁
@@BookkeepingExpertExcellent advice.
I am a bookkeeper working 7 days a week in my own business in canada been doing it 30 years I make 2100 per month
Wow, that’s a long time!
Great content. I'm wondering whether to register my bookkeeping business as a limited liability company
That's what I did
I am interested to learn more about partnering with ADP
You should contact ADP directly
This is a wonderful video!!! Is there any way I can contact you directly to ask a question?
www.harrisburgbookkeeping.com/scheduling
66 client!!!! Are you outsourcing any of the work and if so, what aspects?
No, I do everything
@@BookkeepingExpert You are a mad man lol. about how many hrs a week is that??
How do u get the taxes correct when u don't see the paperwork. Some items are not taxable or only have one tax at least in canada
Canada is completely different 😅
I don't see the link for the course
hbg-bookkeeping.mykajabi.com/offers/UmQTBrXF/checkout
Hey, great content! Have you had any success with cold calling or is it just social media? I know you did a cold calling video a while back, but was curious if you still engage with that method.
No, I don't do cold calling. All social media
I seem to find clients that are tire kickers, and that don't respect the value of a bookkeeper and feel like that there is a ton of bookkeepers they can go to, so you're replaceable.
Don't give up! I promise there are good clients out there
Can I get clients from us, while sitting in india
I'm not sure, sorry!
Have you had any problems with QBO system generated fake transactions? QBO system generated marking invoices paid when no money was received? How do you handle the QBO glitches, they can wreck havoc.
the only time I see that happening is when people have rules, which is why I never use rules in the QBO bank feed