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Will You Fail? Starting a Bookkeeping Business & Accounting Firm

Published on: December 6 2022 by FeedbackWrench

Will You Fail? Starting a Bookkeeping Business & Accounting Firm

Will You Fail? Starting a Bookkeeping Business & Accounting Firm

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00:00:00 00:00:04 you can be a very good accountant and be
00:00:03 00:00:06 a terrible
00:00:04 00:00:07 entrepreneur business owner or somebody
00:00:06 00:00:08 who's going to start their own gig
00:00:07 00:00:10 because you have to do two things you
00:00:08 00:00:11 have to execute and do the accounting
00:00:10 00:00:14 but then you also have to go and get
00:00:11 00:00:16 sales like you start wearing so many
00:00:14 00:00:18 caps you got to be able to spin that you
00:00:16 00:00:20 have to be able to multitask you cannot
00:00:18 00:00:22 and and by nature most accountants are
00:00:20 00:00:25 behind the scenes high detailed
00:00:22 00:00:26 fine-tooth combed type of people that
00:00:25 00:00:28 are really good at working behind the
00:00:26 00:00:31 scenes and that's fine there's value to
00:00:28 00:00:33 that but unless you're ready to also put
00:00:31 00:00:34 on at least
00:00:33 00:00:36 the sales hat
00:00:34 00:00:38 and then you tok to somebody like us
00:00:36 00:00:40 that can put digital and video and
00:00:38 00:00:42 google ads and assets in place that will
00:00:40 00:00:44 bring them to you but not only do you
00:00:42 00:00:46 have to do sales and prospect and
00:00:44 00:00:48 connect and and peak curiosity and ask
00:00:46 00:00:50 them for meetings and do that
00:00:48 00:00:51 uncomfortable thing of prospecting you
00:00:50 00:00:53 also have to run a meeting
00:00:51 00:00:55 and running a meeting you have to have a
00:00:53 00:00:56 meeting cycle and not only this i'm
00:00:55 00:00:57 giving you the framework like you
00:00:56 00:00:59 haven't even worked out your business
00:00:57 00:01:02 framework yet in your services right and
00:00:59 00:01:04 you can do it i mean this
00:01:02 00:01:06 take my 500 course i will frame this out
00:01:04 00:01:08 for you so quickly and so easily that it
00:01:06 00:01:10 is absolutely worth it is that a good
00:01:08 00:01:12 pitch um but i'm telling you man if you
00:01:10 00:01:14 think that what it's gonna be is you
00:01:12 00:01:16 feeling a little naked and a little
00:01:14 00:01:18 insecure about whether or not you're
00:01:16 00:01:20 credible that's not it and here's the
00:01:18 00:01:21 assurance so here's the good news my
00:01:20 00:01:23 friend
00:01:21 00:01:24 think about these business owners so
00:01:23 00:01:26 first of all if you remember my
00:01:24 00:01:28 outsourced account model it's all about
00:01:26 00:01:29 business owners and their businesses
00:01:28 00:01:30 right because that's where the most
00:01:29 00:01:32 opportunity is they have the most
00:01:30 00:01:33 problems that need solving you're
00:01:32 00:01:34 working with a business checking account
00:01:33 00:01:36 which is better than a personal checking
00:01:34 00:01:39 account when it comes to paying you they
00:01:36 00:01:40 in general need the help and there's a
00:01:39 00:01:42 ton of them right
00:01:40 00:01:44 and there's a entropy itself makes sure
00:01:42 00:01:45 that there's roofers and plumbers and
00:01:44 00:01:47 electricians like there are a lot of
00:01:45 00:01:49 them that need this help right and the
00:01:47 00:01:51 government's not making it any easier so
00:01:49 00:01:54 what you're going to find my friend is
00:01:51 00:01:56 that um
00:01:54 00:01:57 when they're doing their stuff when a
00:01:56 00:01:59 business owner let's just say let's just
00:01:57 00:02:00 imagine you're a concrete guy right and
00:01:59 00:02:01 you're working for something you're like
00:02:00 00:02:03 you know what i want to do my own
00:02:01 00:02:05 concrete for me break off
00:02:03 00:02:06 year one you barely pay your mortgage
00:02:05 00:02:08 you're just making sure you don't go
00:02:06 00:02:09 under you're too you make a little bit
00:02:08 00:02:11 of money maybe you got some help year
00:02:09 00:02:12 three all of a sudden you got help you
00:02:11 00:02:14 started making some money and now they
00:02:12 00:02:16 better tok to you because through this
00:02:14 00:02:17 whole thing all they did was barely
00:02:16 00:02:19 survive they don't understand the
00:02:17 00:02:22 problems that are going on
00:02:19 00:02:24 and on one end of the spectrum they've
00:02:22 00:02:26 been doing their own stuff just holding
00:02:24 00:02:28 on by the seat of their pants
00:02:26 00:02:29 they could do it their themselves on a
00:02:28 00:02:32 real
00:02:29 00:02:34 diy spectrum on this side is them
00:02:32 00:02:36 getting no help doing it themselves and
00:02:34 00:02:38 they are not experts in fact
00:02:36 00:02:40 they'll often have like double counted
00:02:38 00:02:42 revenue they're they don't have bank
00:02:40 00:02:44 accounts set up like that's the worst it
00:02:42 00:02:47 can get is they do it themselves and
00:02:44 00:02:48 they screw it all up but you know what
00:02:47 00:02:50 it's a lot of people doing that and then
00:02:48 00:02:53 on the other side let's just say they go
00:02:50 00:02:55 to the most credible confident high
00:02:53 00:02:56 caliber high protein accounting firm
00:02:55 00:02:59 that's out there
00:02:56 00:03:01 that's going to cost them a fortune
00:02:59 00:03:03 think of the gap there you know how many
00:03:01 00:03:05 people are like halfway and below on
00:03:03 00:03:07 that
00:03:05 00:03:09 at minimum you should be encouraged that
00:03:07 00:03:11 you as an organized person simply
00:03:09 00:03:13 helping them a little bit will add so
00:03:11 00:03:15 much value because what you don't
00:03:13 00:03:18 understand is that a business owner
00:03:15 00:03:20 wears all these caps and some of them
00:03:18 00:03:22 are so hardwired towards sales so
00:03:20 00:03:24 hardwired towards you know the mechanics
00:03:22 00:03:26 of executing in their job that the
00:03:24 00:03:27 finances the mark like there's marketing
00:03:26 00:03:29 and finance there's kind of these
00:03:27 00:03:31 different vertikals within the business
00:03:29 00:03:33 and different hat that they are
00:03:31 00:03:35 significantly different um types of
00:03:33 00:03:36 thinking like it's using a whole
00:03:35 00:03:38 different hemisphere of their brain and
00:03:36 00:03:40 by the time they get to the end of their
00:03:38 00:03:41 day the end of the week the month the
00:03:40 00:03:43 quarter and the year
00:03:41 00:03:44 their decision making their attention
00:03:43 00:03:47 span and everything that they have in
00:03:44 00:03:49 them is no longer capable of doing this
00:03:47 00:03:50 thing that they hate doing they don't
00:03:49 00:03:53 know how to do they second guess
00:03:50 00:03:54 themselves they do it wrong and it sucks
00:03:53 00:03:56 life from them
00:03:54 00:03:57 just watch a guy i was just so i'll tell
00:03:56 00:03:58 you a story right now i was just on the
00:03:57 00:04:00 phone with a friend of mine from high
00:03:58 00:04:02 school he runs his own custom cabinet
00:04:00 00:04:05 shot he's been his own diy guy single
00:04:02 00:04:07 owner llc doing his own thing and him
00:04:05 00:04:09 and his wife are having conflict because
00:04:07 00:04:11 of taxes and i'll tell you what
00:04:09 00:04:13 the taxes the bookkeeping and all that
00:04:11 00:04:15 just eats at them because what they've
00:04:13 00:04:18 done is up to this point for like 15 20
00:04:15 00:04:19 years is you know he just kind of
00:04:18 00:04:20 wings it
00:04:19 00:04:21 well then what happened is last year
00:04:20 00:04:23 something happened you made a little
00:04:21 00:04:25 more money and then a little less money
00:04:23 00:04:27 and all of a sudden boom that
00:04:25 00:04:30 you're about to have a 15
00:04:27 00:04:32 five thousand thirty five fifty thousand
00:04:30 00:04:34 dollar tax bill you didn't know about
00:04:32 00:04:36 and your wife is asking you about it you
00:04:34 00:04:37 know what that does to you turns you
00:04:36 00:04:40 into a crabby dad i'll tell you that
00:04:37 00:04:44 much turns you into a bad business owner
00:04:40 00:04:45 it eats your soul my friend
00:04:44 00:04:47 again
00:04:45 00:04:48 that's over here don't you think you can
00:04:47 00:04:50 help
00:04:48 00:04:52 i think you can help my friend i think
00:04:50 00:04:53 that if you just take your skills of
00:04:52 00:04:55 being organized and understanding
00:04:53 00:04:56 accounting and bookkeeping and just help
00:04:55 00:04:58 them stay organized shoot there's a
00:04:56 00:05:00 whole atm there's a whole sphere of
00:04:58 00:05:02 business owners that are just virtual
00:05:00 00:05:03 accountants or virtual assistants and
00:05:02 00:05:05 they don't even know how to do
00:05:03 00:05:07 accounting really you can come in and
00:05:05 00:05:09 add a ton of value my friend so my
00:05:07 00:05:11 answer is screw the mba screw higher
00:05:09 00:05:13 education there's a whole bunch of
00:05:11 00:05:16 reasons for that it is the most stacked
00:05:13 00:05:18 up inflationary thing it is not worth it
00:05:16 00:05:19 unless you want to go to big business
00:05:18 00:05:22 and even there entrepreneurship's not
00:05:19 00:05:24 easy this is hard but you know what
00:05:22 00:05:26 you can put that tea time
00:05:24 00:05:27 i was toking to the same business owner
00:05:26 00:05:29 right so i was toking to my buddy
00:05:27 00:05:30 and i'm like he's like man i just part
00:05:29 00:05:32 of me wants to get out of here and go
00:05:30 00:05:34 work for somebody else because this just
00:05:32 00:05:35 pisses me off and he was toking about
00:05:34 00:05:37 how he gets in arguments with his wife
00:05:35 00:05:39 about how he spends his time right
00:05:37 00:05:41 because i said well the good news is you
00:05:39 00:05:42 know one bad thing is that work follows
00:05:41 00:05:43 you on the nights and weekends if you
00:05:42 00:05:46 allow it
00:05:43 00:05:48 but on the other side
00:05:46 00:05:50 you kind of set your own schedule right
00:05:48 00:05:51 you you can you can do whatever you want
00:05:50 00:05:54 you want to go on that trip go on that
00:05:51 00:05:55 trip you got to afford it
00:05:54 00:05:56 if you want to go and have the tea time
00:05:55 00:05:57 and play some golf you want to go
00:05:56 00:06:00 fishing you want to go on a hunting trip
00:05:57 00:06:01 you want to work remotely like me myself
00:06:00 00:06:03 if i didn't have a family here i could
00:06:01 00:06:06 seriously do whatever i want everything
00:06:03 00:06:08 i do is on this laptop right here short
00:06:06 00:06:09 of making these videos and i could work
00:06:08 00:06:11 wherever i want whenever i want i could
00:06:09 00:06:12 make bank right
00:06:11 00:06:14 now
00:06:12 00:06:16 he goes you know what i always do every
00:06:14 00:06:18 other week i got a tea time and i hit it
00:06:16 00:06:20 my wife hates it but
00:06:18 00:06:22 there's benefits to this not only that
00:06:20 00:06:24 you can make some serious wealth you can
00:06:22 00:06:25 integrate there's all sorts of reasons
00:06:24 00:06:27 to start your own business and i think a
00:06:25 00:06:30 lot of you are called to do it but if
00:06:27 00:06:31 you can't run meetings and get sale some
00:06:30 00:06:33 prospect
00:06:31 00:06:36 doesn't matter how credible you feel now
00:06:33 00:06:38 that being said it's a lot easier to
00:06:36 00:06:39 prospect it's a lot easier to sell it's
00:06:38 00:06:41 a lot easier to get behind your
00:06:39 00:06:43 marketing system if you work with us and
00:06:41 00:06:45 create videos if you are competent so my
00:06:43 00:06:46 suggestion for you is get your cpa or
00:06:45 00:06:48 enrolled agent if you want that
00:06:46 00:06:50 credibility forget the mba get your
00:06:48 00:06:52 college degree get out go work in a firm
00:06:50 00:06:54 if you want some real experience go call
00:06:52 00:06:56 the local cpas around you and say hey
00:06:54 00:06:58 tell you what wondering if you need help
00:06:56 00:06:59 during this tax season
00:06:58 00:07:01 don't tell me you're starting to infirm
00:06:59 00:07:03 all of these guys need help they need
00:07:01 00:07:04 good help unemployment for accountants
00:07:03 00:07:06 is
00:07:04 00:07:08 worse than it is in the trades okay so
00:07:06 00:07:10 that would be my recommendation to you
00:07:08 00:07:12 good luck god bless i hope that helps if
00:07:10 00:07:14 this is helpful okay i'm trying to make
00:07:12 00:07:15 sure that i give stuff away okay if
00:07:14 00:07:16 you're just looking to start your own
00:07:15 00:07:18 business there's two things i want you
00:07:16 00:07:20 to do number one if that was helpful go
00:07:18 00:07:22 to this support the channel and there's
00:07:20 00:07:25 a link in the description here too and
00:07:22 00:07:27 give me money
00:07:25 00:07:29 if you give a donation well there's two
00:07:27 00:07:32 bucks right this google ad spender this
00:07:29 00:07:34 google adsense does it's not it doesn't
00:07:32 00:07:36 provide this hour that i just poured out
00:07:34 00:07:38 of myself and i want to do that i feel
00:07:36 00:07:39 called by god to help more of you start
00:07:38 00:07:41 your own business and i know that might
00:07:39 00:07:43 sound a little corny but that's the
00:07:41 00:07:45 first thing the second thing is is that
00:07:43 00:07:47 i've got a course okay this course is no
00:07:45 00:07:48 joke and i know that's easy for somebody
00:07:47 00:07:50 to say but if you go to my website go to
00:07:48 00:07:52 feedbackgrunch.com and you come down
00:07:50 00:07:54 here to online course you can learn
00:07:52 00:07:56 about this thing it's 500
00:07:54 00:07:57 and in this 500 it's your value
00:07:56 00:07:59 proposition it's your structure it's
00:07:57 00:08:01 your coaching what i just did there it's
00:07:59 00:08:03 27 segments and i'm pouring more into it
00:08:01 00:08:04 and i'm telling you this will get you
00:08:03 00:08:06 set for the things you don't know how to
00:08:04 00:08:09 do go get your enrolled agent go get a
00:08:06 00:08:11 cpa get some um bookkeeping help go to
00:08:09 00:08:12 bookkeepers.com they have some really
00:08:11 00:08:15 good stuff about how to do bookkeeping
00:08:12 00:08:16 this is about how to run a business and
00:08:15 00:08:18 we can help you with that that course
00:08:16 00:08:20 will help you with that i guarantee you
00:08:18 00:08:22 it'll be worth your money good luck god
00:08:20 00:08:23 bless like and subscribe if you like
00:08:22 00:08:25 this leave a comment evidently comments
00:08:23 00:08:29 help a lot i don't know i'm just
00:08:25 00:08:29 trying to help so have a good one