Can’t Afford a Bookkeeper? Let’s Talk Truth.
October 31, 2023
by Shannon Simmons

You’re staring at a mess of receipts, invoices, and transaction records. The constant push to bring in new clients leaves you without time or energy to sift through the chaos that piles up. You’ve heard about the magic of Profit First, and you know it could be a game-changer for your business. But the truth is, implementing it feels overwhelming, especially without a guiding hand.

You’ve considered hiring a bookkeeper or a financial coach. Someone who could not only manage your books but help you navigate the path to financial freedom and peace of mind. But then the numbers start swirling in your head. A few hundred dollars a month feels like a giant leap, especially when you’re already stretching your budget thin.

You think you can’t afford a bookkeeper.

This isn’t an uncommon thought. We meet business owners all the time who are willing to drop thousands on the latest equipment or fly cross-country for a conference.  At the same time, they balk at the monthly investment that could truly transform their business’s financial health.

Here’s what’s really happening:

  • You’re prioritizing the shiny new objects (latest equipment, conferences, etc.) over the foundational elements of your business, like solid financial management.
  • Your mindset around money and spending is likely clouded by fear, scarcity, or simply a lack of understanding of the immense value a bookkeeper can bring.

So, what can you do about it?

First, let’s tackle the mindset issue. Ask yourself what truly matters to you and your business. Is it serving your clients to the best of your ability? If so, remember that being financially stable and stress-free is a crucial part of serving your clients well.

Next, if you genuinely feel like your budget is stretched to the max, it’s time to take a hard look at your expenses. Go through each line item, including subscriptions, software, product purchases, and any other recurring fees. You might be surprised at what you can cut. And yes, hiring a professional to help with this can uncover even more savings than you could find on your own.

Finally, in the true spirit of Profit First, start putting aside 1% to 5% of your monthly revenue into a fund specifically for hiring a bookkeeper or Profit First coach. Once you’ve saved up enough to cover three months of their fees, make the commitment and take action.

Remember, it’s not about whether you can afford it. It’s about whether you can afford not to. And we’ve worked with business owners bringing in $50,000 in monthly revenue who faced the same dilemma. Still think you can’t afford a bookkeeper? The truth is, you likely can afford more than you think. It just takes a closer look, a shift in mindset, and a commitment to prioritize your business’s financial health over everything else.

Book a call with us today and let’s talk!