How to make the best decisions for you and your bookkeeping business

Last week when I spoke about appreciation I had no idea that I would receive so many emails to let me know how much the Word from Deb is appreciated. So thank you - it really made a difference to my week knowing that I've made a difference to yours.

Pete and I were in Perth on Monday continuing the Bookkeeping Business Bootcamp with an excited and energetic group of bookkeepers thirsting for knowledge. Several times during the seminar we spoke about choice.

Choice is important because each of us wants to decide what our own lives will be like. We want to be in control of our own destiny.

There are many choices we make which don't really matter - will I have toast or cereal for breakfast or wear the black or navy pants today. Other choices are critical especially when running a business, the most important one is choosing whether you are going grow a successful practice or a profitable business. The reason it's important to do that as early on as possible is that every decision you make after that depends on that first choice. Both, by the way, are noble choices. One is not better than the other. It's personal, taking into account a number of factors that are meaningful to you and no one else.

In the seminar Pete referred to the movie "Sliding Doors" with Gwyneth Paltrow in which her character in one scenario catches a train home to find her partner in bed with another woman and she chose to end the relationship. The other scenario is when she missed the train so she didn't discover the deception and continued her relationship. What ensued then were two completely difference journeys and outcomes.

What is also really important is being able to choose the clients we work for, how much we are going to charge and what our terms are. I've been in the situation in the past of saying yes to everyone and being stuck with clients who don't value my service, complain each time they get the bill and decide when they are going to pay me.

What I'm completely convinced about now is who I am, what my business is about and how important it is to choose my clients in the very first meeting. So here's what I do:

• Meet with ALL the stakeholders (i.e. husband or wife or other business partner)
• Choose my client - pay attention to my gut feeling. How they are in the first meeting is how they will be from that moment on
• Sign a client agreement including the scope of work, what my expectations are about their behaviour and what my promises are to them
• Be prepared to walk away

Some things that can stop you from doing that is:

• You are not completely SOLD about who you are and how much better off the client is going to be with you on their team
• The client was referred and you feel obligated to take them on
• You need the work

What can you do?

• Ask your client's for testimonials. You will gain confidence when you hear feedback like "you're an integral part of the team" and "you empower them around their finances"
• If you don't have any clients and don't feel confident then act like you do
• Thank the person who referred the client, explain why you have decided not to take them on and what a good referral is
• Get busy marketing
• Be prepared to walk away with confidence expectant of more opportunities

This is what Richard Branson believes:

"Opportunities are like buses, there's always another one coming."

I would love to hear from you if you've had to gather your courage and made the choice to walk away and what happened next!