You're not alone.
According to our guest, Melanie Power, many bookkeepers are working on their own.
They might have staff, but they probably aren't as like-minded.
As a result, bookkeeping can be isolating, but there's a way to battle that.
You could start by joining bookkeeper communities like our own, Successful Bookkeeper Facebook Group.
It's a great way to share challenges and wins with people who know what you're going through and are willing to support you.
During this interview, you'll learn...
-
How to collaborate with bookkeepers across the globe
-
Why selling isn't a dirty word
-
The importance of getting your business model figured out
EPISODE TRANSCRIPTION
Michael Palmer: 00:59 Welcome back to The Successful Bookkeeper podcast, I am your host, Michael Palmer, and today you are in for a treat all the way from down under. Our guest today is Melanie Power and she is so passionate about small business and the people who keep a small business running. Those are the bookkeepers and she is the head of bookkeeping for zero and an evangelist for bookkeepers globally. I am so happy to have her on the show. Welcome, Melanie.
Melanie Power: 01:27 Thank you so much for the wonderful welcome there Michael. Just excuse me while I heard my kangaroos and pop my Koalas on the shelf there. Exactly. No, actually it's really quite a what we would call a bit of a fib. Um, you know, stretch of the truth in Australia. We do have those beautiful animals, but they're not actually running around in the backyard like a lot of people think so. But anyway, well we today as we say in Aussie land.
MP: 01:52 Absolutely. It's a beautiful country. I've spent lots of time and been all over the country. I love it there. And uh, yeah, I know you're just being humble when you say, yeah, I'm sure there is a kangaroo in your backyard for sure.
M: 02:07 They had been known to come into our houses that sometimes people used to keep them as pets and things like that, but you're not allowed to do that anymore. So it's very interesting. But Canada is also a beautiful place. I was there in 2015 and it's incredibly beautiful and I can't wait to come back. Michael.
MP: 02:25 Yes. Well, we love having your back and I know we're going to talk about it, but you were at IPBC in Canada, that's the institute of professional bookkeepers and you were speaking there. You're going to be speaking there again in 2017 which is exciting. But before we get into all that wonderful stuff, let's let the listeners who don't already know you get to know you by telling us a little bit about your journey and your practice leading up till now.
M: 02:52 Thanks so much, Michael. So I'm a bookkeeper. I've been practicing since 1994 which quite a, you know, a little while ago now. I've also run a during, um, you know, the last 25 years, a few different types of small businesses as well as having an accounting and bookkeeping practice. I've had a motorcycle dealership. So for any of you listening, if you ride motorcycles, yes, we're kindred spirits already. I've also run some electronics businesses, finance brokerage, uh, those different types of things. So I've, I kind of like to think of myself as the queen of bootstrap small business and it's really given me a unique understanding as to what makes small businesses tick. Uh, in 2012, I decided that I was going to start a whole new accounting practice from the ground up and I did that on the zero a business model, which essentially everything was a cloud based practice.
M: 03:51 And what that allowed me to do was grow to very quickly. So I grew that on my own as a sole operator to a hundred clients in a year and I hadn't really looked back. I actually merged with another firm and actually sold the practice last year. So from startup to succession, it's been quite an interesting journey. One of the things that I really discovered through that process was that I did have a real passion for helping other bookkeepers be successful and want to actually share my learnings so that I can help other bookkeepers have scalable and profitable practices as well. So it's been a very exciting journey. And uh, I've been speaking to bookkeepers across the globe. I've done quite a lot of trips in the last few years with zero as their head of bookkeeping and it's been a fascinating and extremely rewarding experience.
MP: 04:45 Yeah, that's, I mean it's, I love your history, true entrepreneur and as well, I'm sure your clients loved you from the experiences that you had growing your own businesses and really understanding where they're at and really curious about the role at zero. I love the title. I remember seeing your title a couple of years back, head of bookkeeping for zero, which I'm sure they loved having you there to help them understand their customers as well. Tell us a little bit about that role.
M: 05:14 Oh, it's a fabulous opportunity. So in September 2014, I went through the interview process where I applied for the role and I was successful and the role is all about evangelizing the importance of bookkeepers to small business owners and really champion the zero business model. Having done that for myself only just recently, it was a really a natural progression for me to step in into that role. So it's been a part time role. I still was running my business along the side and I've been doing that role for about two and a half years now and it's been incredible to see all the take on some of those growth strategies and grow. One of the key things in this role was I developed a series for zero called grow your practice and it's designed to help bookkeepers understand how to automate, develop business plans, marketing, branding, all those really important things that we need to put in place to be efficient in the here and now of running a bookkeeping practice. That series is available on demand now through the zero websites. So anyone interested, you can get pop along there and register and have a look at it. It was actually some featuring some great stories and also the lovely Debbie Roberts, a founder of pure bookkeeping. I brought Debbie in to share her journey as well. Uh, she's very inspiring.
MP: 06:41 Yes, that's fantastic. And we'll certainly get the links from you and post it on our site with the show notes as well. And you know, it really is interesting. You know, you've got an interesting perspective as a bookkeeper because you've, you've spoken all over the world, you've worked with bookkeepers from all over the world. Uh, what have you noticed the commonalities around what they're going through and just different insights that you've had working with people from all over the world, specifically, bookkeepers?
M: 07:13 I think one of the biggest commonalities I've found is that every person that's operating in a bookkeeping practice, we're doing it because we really care about the small businesses that we work with. It doesn't matter what country we're in, it doesn't matter what software we use. It doesn't matter what our systems are internal. The one common denominator is that we're all working together to help other small businesses be successful. That's the biggest thing that I've seen. The second biggest thing is obviously technology. Uh, you know, five years ago with the whole cloud wave really sort of raring up. It has changed dramatically the way that we run businesses and that disruption wave from my point of view has now come and gone. We're in it now. We're running our businesses or thinking about running our businesses, you know, in that new way for bookkeepers.
M: 08:03 It's actually a point now where we need to look at transforming our businesses. It's almost like we're going on a journey to work out how can we add more value to our clients? We don't need to spend as much time on data entry more because we've got cloud based products that do that for us, like zero, but also with an introduction of AI machine learning. That's going to even take that another step further. So for bookkeepers, it's about how can I bring in extra things or different income streams to continue to service my clients in a new and innovative way. It's not just about helping them understand the numbers. There's so much more that we can do because we're working on the coalface and on the ground and know those small businesses really well.
MP: 08:56 Very very cool on. Absolutely. It's amazing the change and with the change comes certain uncertainty. But inside of that uncertainty is a great opportunity. Which a, I know you talk a lot about, and I know you're going to, we mentioned it already, you're going to the Institute of professional bookkeepers in Canada. That's the IPBC a bet as well. You're going to be at Accountex in the United States, in the Boston area.
M: 09:20 Yes. I will be there. Yes. And I'll also be at the scaling new heights event, uh, at Joe Wood Arts event as well. And Ben Robinson's learned to be a bookkeeper in Atlanta and that's in May. So I'll send you the links to those events as well.
MP: 09:33 Beautiful. So you're going to be all over North America. It's going to be busy here for you traveling all over the place. Hopefully, you'll get out on your motorcycle here in North America.
M: 09:43 Oh no, that sounds like a definite plan. I'll be bringing my husband with me. We both ride. So I think that'll definitely be on the bucket list.
MP: 09:49 Yeah, absolutely. Will you be in some good spots? For sure. There'll be some good writing, uh, waiting for you there. Uh, tell us a little bit about what you're going to be talking about at these events.
M: 09:58 So I think what would, what we actually just touched on is really the key theme of where I'm really wanting to lead bookkeepers. It's really about the transformation process. So how do we make the move from being data entry bookkeepers and some of us are still doing a lot of that and some of us feel quite comfortable doing that as well? But the reality is when we operate our businesses that way around the billable hour model, it just isn't scalable and it isn't necessarily the best use of our time. So I'm really passionate about helping bookkeepers understand there is a transformational process that they can go through to looking at their business, how they can change some of their internal processes, how they can look at changing the way that they have their billing and pricing set up. And also looking at different ways that they can add value through different services and products to their clients. So there'll be quite a few different topics around that. And most importantly thinking about, you know, selling isn't, isn't a dirty word when we're talking to our clients, it's not really about selling. We're offering solutions, we're showing our value, and that's a real change of mindset. So they're the two key things that we'll be really speaking on across those events this year.
MP: 11:10 All right, excellent. Well, I, there are listeners that go to these events, they're going to likely be back again, but a lot of listeners, maybe you haven't been to these events, they are must-attend events in order to surround yourself with people that are serious about their success. And you're going to get to hear great people like Mau, uh, that are going to be speaking at these events. So this is the fee. This is the year 2017 we're going to have the links go to the website, pick a date, a location that's close, where, where, where you can go and go. Just do it. Commit to it. I guarantee you, and I'm sure, Melanie, you'll back me up here. This will be an incredible and almost unexpected, surprising result that it'll produce in your life by just attending one of these events.
M: 12:00 It is amazing and there's so much content, but it's also the networking and the people you get to meet in the experiences that you have. You take those learnings way you come back home, revisit your business and think, where am I going to go next? One of the most important things, Michael, that makes us all click together is the automation and the systems and I'm very, very honored to be on the Pure Bookkeeping podcast. Thank you so much for having me. I've actually been a Pure Bookkeeping licensee when I started my practice in Australia in 2012 and I'm a huge fan of Debbie and I'm a huge fan of what the system has been able to help bookkeepers achieve. So for any of you that are listening, you may be not had a chance to have a look at the Pure Bookkeeping System. I really encourage you to have a look at it, have a trial. It's one of the vital things that you need to implement to get everything ready for you to grow in scope practice.
MP: 12:53 Well, thank you for that testimonial. Appreciate it. And certainly um, uh,
M: 12:59 and that was natural. That was not planned either for you. Listen to this
MP: 13:02 Absolutely, absolutely. I'm always, I'm always, I'm like, ah, the person who's a, we're, we're always focused on content and our guests and I sometimes forget to be promoting ourselves and the great work that we do as well, but, and when our guests do it for us, it's certainly much appreciated and that's, that's just awesome. And I was, I was, I just get so passionate about these events that you're going to, and I like account tax and a couple of the other ones and then there's one that I didn't even know about, which I think the last one you mentioned, at any rate, we're going to have all the links, but thank you for mentioning Pure Bookkeeping. And I know you've got a great relationship with Debbie and she was the subject of the book that I wrote, The Successful Bookkeeper and her story and her, her business coach, Peter Cook.
MP: 13:53 Uh, and certainly anybody can get a free copy of that book. That's a part of a promotion that we're running. If you want to read more about it, you can certainly just opt in at our website and you'll, you'll get that information. But Melanie, thank you for, for her giving us a bit of a shout out there. Let's talk about moving in another direction here because you've got lots of stuff you're, you're working on and lots of great things you're doing for the community globally, bookkeeper revolution, quite a community you've built there. Tell us a little bit about it.
M: 14:23 It's a cool name. Hey, isn't it?
MP: 14:25 It's awesome. I mean, coming from someone who loves to ride motorcycles, I'm not surprised.
M: 14:33 Yeah, it is. It's something that I thought really represents what I'm quite passionate about. It's about the revolution to help bookkeepers transform their lives and businesses. And it is a global community essentially. It's designed to connect bookkeepers across the globe into a community where they can share their knowledge. So it's, we've got a two for two groups set up, we've got a linkedin group and a Facebook group and those groups have around about 10,000 bookkeepers across the globe, all contributing and sharing and supporting each other on their journey and obviously the lovely, Debbie Roberts is a very active part of that community as well, so thank you Debbie if you're listening. And really it's just about providing that network to say, hey, we are a valuable resource to the small business community. These all the great things that we can do and it's helping bookkeepers just be successful and helping them to break the chains that traditional practices have kept them in and transforming into a new way of doing things. It's very exciting and we've only started the group in September and we're just getting such traction engagement, which you know, really means to me that there's been a real need for, for this type of community in the market.
MP: 15:51 Absolutely.
MP: 15:57 Well, I've definitely, I'm a member of that group and I've, I've not likely as active as Debbie as, because Debbie's got all the great knowledge, but I certainly get posts and updates and watching the different things. And I, I just love seeing people help each other. It's what I love about it. It's theirs. You know, this is not a problem for just bookkeepers. This is every single entrepreneur out there, often they try and do it alone and they work in their business and they get busy and they're doing it alone, doing alone and the results that are possible when you stop trying to do it alone and go and be with a community of people that are serious about their success, that are giving people, that have great energy, that are positive. When you do that, your results just go up. It's the way that it works.
MP: 16:46 So whether I'm talking to a bookkeeper or I'm talking to a lawyer, or I'm talking to a, a plumber that owns a plumbing business, it doesn't matter. Don't do it alone. Be Amongst people that are likeminded and moving in a great direction. And that's what your group really provides. So bookkeeper revolution, again, we're going to have that link. Just go in. I mean it's free, it's absolutely free, which is part of that shift in technology that you're talking about Melanie, is things are moving so quickly and there are so many things that weren't there just even a year or two years ago that are extremely valuable. And this is, I think one of them and that's probably why you're seeing such a big uptake on it.
M: 17:32 It is amazing. I'm getting goosebumps as you were talking in Michael. It is about people helping other people and that's the key thing. I think that in the bookkeeping profession we've got a lot of people that are working on their own as a sole trader and it can get quite lonely. Even if you've got the staff that may be helping you out doing different things, you're still operating as that sole principals. So you don't often have someone that sort of similar skill level and like minded that you can bounce ideas off. And this is where these community groups have really helped. Uh, I've learned so much from them myself, Michael, just by reading what some of our bookkeepers are posting in there. And one of the things I've really noticed is that with cloud technology and these social media facilities and groups that are now available, it's closed the gap on, on, you know, between regions.
M: 18:27 We are really and truly a global community and we see bookkeepers work with small businesses in a different parts of the world and we'll often see them reach out and say, Hey, I've got a client in Australia from the USA, is there somebody that can help me with this? So we're seeing cross-region collaboration between businesses and often this isn't an engaged service. It's just a bookkeeper putting their hand up and saying, hey, you're a fellow professional. I'm going to give you some of my time to help you. And it's developing all these really strong relationships. It's, it's amazing and it's fabulous and it's definitely raising the level of skill and professionalism within the bookkeeping industry.
MP: 19:09 Beautiful. It really is fantastic. What you're doing with the bookkeeper revolution. It's super exciting. I want to end on two things. Number one, some advice, your best advice, a bit of a teaser for bookkeepers that want to become more successful in their business. And then the last question we'll get into, we'll be just talking about some of the things zero has on and as well yourself. Sure. So let's start with bookkeepers. What should they be focusing on right now in their business to take it to new heights?
M: 19:43 Great question. I think the biggest thing that bookkeepers can focus on is betting their business model down. Often what happens, we get distracted with we need to grow or we need to add more apps and fighting. So many people are in app overload. Just press the stop button. Go that to your business model. Make sure you've got your workflows right, your systems right, your ready to take on extra growth. That's the big thing. The second thing is to look at how you can offer your existing client base. Shoot more value instead of going out and getting new clients. Look there first. Go through your client list. Work out. Are these an I? Is this an ideal client? If it's not, maybe it's time to move them on. The ones you do want to work with. Go back to them, have a conversation with them, step them through some of the extra things that you can do. You may find that you can just increase your turnover by looking after and servicing your existing client base. Do those two. Then you ready for the next stage of growth.
MP: 20:50 Beautiful, wonderful advice. And of course all of our podcasts are now transcribed, so if you'd like to get a copy of this episode and get the wonderful words and advice that Melanie's giving to us right now, simply go to the successful bookkeeper.com and you can download that and just take what she's put. She's given to the gift that she's given to us and start implementing that inside of your business. Melanie, tell us about the things you got on. I know you've talked about the event you're going to be speaking at. It's a super busy year, but uh, there's zero, there's maybe events, Zeros doing what? What, what, what kind of things can you share with us?
M: 21:28 Well, obviously we have zero con coming up in the USA. That's a fabulous event. A, there is a special on at the moment for our $99 early bird special. I think it's still on check the website, but definitely, that's worth going to. If you've never been to a Xerocon event, you're definitely in for a treat. Zero. I've got some great product and feature releases that are coming out at the moment around the AI and machine learning feature. We've just had a release on this around the invoicing function. So pop on over to the Zeroblog@zero.com to check out some of the latest feature releases, which was really cool. Um, I'll also be at obviously IPBC or be at Ben Robinson's, learn to be a bookkeeper of antenna Atlanta, scaling new heights, which is Joe Woods Conference, uh, that will be in Florida and also Accountex USA. So we're looking at organizing a meetup group for bookkeeper revolution at those events. So if you'd like to find out more about how to engage with the community, you can head on over to bookkeeper, revolution.com. Dot. AAU and join the community there and we can keep you updated as to what's happening.
MP: 22:40 Fantastic. Well, this has been just a treat. I'd like to say that 2017 should be the year of getting out and going to a conference. It's a, if you haven't been already, make the commitment, you'll never look back and a you will get an ROI return on investment that will surprise and delight you in terms of the results in your life and in your business and what a great year to do it because Melanie will be there speaking and you can tell from this episode she's just got a wealth of knowledge and we could probably take this show on and on and on, but we only have a limited amount of time. So Melanie, thank you so much for being here on the successful bookkeeper podcast, this episode.
M: 23:20 Thank you for having me, Michael. We'll look forward to seeing you in Canada.
MP: 23:24 Absolutely. We'll see you over here and we'll see you roll up in your big motorcycle plan.
M: 23:30 Thanks and bye for now.
MP: 23:40 You Bet. Bye. Bye.
