Its been a few months since visiting this forum again. Thanks everyone for your advice. I have read the e-myth from Michael Gerber, at that time I thought it was a book about franchising and didn't pay much attention to it. Economy is not doing so good right now, my clients who rely on large corporations begin to downsize, and in effect I also downsize. It is a good time re-strategize.
I am just wondering, how much are you paying, or willing to pay for good bookkeeping and tax filing services? Do you expect bookkeeping services to include inventory tracking and generate other reports for management also?
My company nature is accounting and bookkeeping, so it became that way. And I can't seem to ever get the pricing right! I used to work in one of the big 4 accounting firm as a senior consultant mainly in business intelligent and data managment type of thing. Not a CA, not particularly like doing bookkeeping netiher.
Anyhow, I made a big leap of faith, quit my job and open my own consultant firm in 2005 bring along one large client contract, I was an independent contractor. I wrote a couple of blogs articles in 2007, and I guess a few catches the crowd so the start coming to me for bookkeeping and accounting stuff. I needed money, so I take on anything and everything and get myself certified in Quickbooks.
I originally charged a fix cost of 199 per month bookkeeping for small business, I hired a few bookkeeper but none of them turns out. Spend a lot of time training them, but still some of the more complicated stuff and trying to teach them to understand the client's business is a nightmare. I guess I myself expected more from them, it requires much more time and effort to make sure everything is correct and accurate than just data entry income and expenses. But with the price, I cannot find someone who can really up to the standard. I decided to raise the price, to 45 per hour or 250 a month fix costs. Well, I am not getting new customers, existing customers already voiced their concern about price increase.
Economy as everybody know take a nose dive, and my large company contract also go with the economy. I have to layoff my staffs, mind you I only have 3. Now I am doing everything myself.
So, I am very interested to see what your take in terms of how much are you willing to pay for bookkeeping and accounting services?
I am new the this website, but hey I finally have some time, or too exhaused to work and really need some help or at least a channel to vent. This seems to be the perfect place.
My business has grown to the point where now I am having a lot of unhappy customers because I can't keep up. I have tried to hire virtual assistance, students, part-times, and none of them work out the way I would like them to. I was just hiring bookkeepers. I found that it is so hard to train people. And as a start up I am very tight in budget. I know I get what I paid for, but if employees keep on wanting more money without delivering good work, I just cannot stand it. People now a days have no loyalist, does not know how good works look like, not thankful at all and think they are entitled to everything.
I often feel burned out, exhaused, and lonely. Sigh, why is it so hard to hire good people?