Michael Palmer, President of Pure Bookkeeping North America & Podcast host, works specifically with bookkeepers to help grow your bookkeeping practice. Michael spent close to a decade giving bookkeepers the tools to start, grow and scale their own business outside of the accounting firm realm. In this episode of the Growing Your Firm Podcast by Jetpack Workflow Software, David Cristello and Michael Palmer discuss:
- The #1 way to grow your bookkeeping practice
- How to put systems in place to maximize profits
- Ways to keep clients excited to work with you even if you double your fees
- LINKEDIN: Michael Palmer
- Successful Bookkeeper Podcast
- Pure Bookkeeping - Michael Palmer's company
- Automate Your Firm 1,500% [interview]
#1 Way To Grow Your Bookkeeping Practice:Michael Palmer leads the North American team of Pure Bookkeeping. Pure Bookkeeping helps great bookkeepers grow their business. The founder, Debbie Roberts, originally worked as a bookkeeper in a company. She heard the advice, 'Quit and start your own shop.' The words buzzed in her ears for over 2 years before she made her life-changing move. It wasn't all sunshine and rainbows (when is it?). After 18 months, Debbie was afraid to hire someone because she didn't think they could replicate her work. That's when she read the E-Myth Revisited by the timeless Michael Gerber. Many guests on the show recommend this book, so don't wait any longer to pick up a copy. Anyways, Debbie realized she needed to take all her patented knowledge and put pen to paper. Document all her processes for reconciling, correcting, etc. As the E-Myth recommends, make your business system dependent. 'Work on your business, not in it.' This is the message Michael Palmer pushes as he meets with bookkeepers like you to grow your bookkeeping practice. Before he even digs into concepts from Gerber's book, he first tackles the #1 thing holding most bookkeepers back. Their mindset. That's right. You've heard it all before. You must have the right mindset to dominate your space, first. You must have the mindset that, I will make my bookkeeping practice a business and not a J.O.B.
DAVID'S TIP: The best way to have the right mindset is to have the right focus. Know where you're going. Don't wander aimlessly.Fixing in your mindset stops with understanding: You don't have a clue how valuable you are to the bookkeeping profession. You have no idea how important you are to the ecosystem. Your clients desperately need you to be more successful to help them. Take leadership. That's a core mindset piece to etch into your brain. You must believe those bolded statements. Read them every night if you have to. How do you know if you have the right mindset? Simple. Ask yourself these questions:
- Is my business delivering to me not vice versa?
- Am I making a living I'm satisfied with?