If you're a bookkeeper, have been one for some time or just starting out, this is the guide you need to ensure your business success. We’re going to review the four possible futures that await your business, and what you can do to prepare for the ultimate outcome. The future of independent bookkeeping is an exciting one with plenty of opportunities available if you know how to seize them. Read on to find out more about the four futures and why they matter!
The Four Futures was originally launched at the Next Level Business Intensive Workshop in October 2021. During the session, bookkeepers from across the world discussed and discovered how to take their business from its current performance, to its ideal performance. Just as every business is different, the range of roadblocks and opportunities also varied. Led by Pure Bookkeeping's CEO, Katrina Arsman, and Bookkeeping Coach and Mentor, Sharon Francisco, workable solutions were formed and new found opportunities for income growth, business scaling and personal freedoms were found.
The Four Futures has since become incredibly successful and helpful to so many bookkeepers out there, here's an inside look into what it entails:
- The future of the independent bookkeeper - it's where you are now and what needs to change for your business to thrive in this future, including ways that technology can help grow your bottom line without having to work more.
- Looking at where money is made or lost within your business - and how to change your mindset around them.
- Establishing where you business is at currently, and what you need to do to achieve your ideal business - scale, freedom, income.
Establishing your key performance indicators (KPIs) for growth and how to use them is a big part of the future of your bookkeeping business - it's where you want to be in the next two years, including tools that will help with achieving this success.
"So consider having heaps of income, but no freedom to enjoy it. And I know a lot of bookkeepers have this, they're working nights, they're working weekends," says Sharon.
"If we're strategic about these decisions, it's really hard not to push towards those things that we want."
The Four Futures is all about creating an ideal future for your business, and taking immediate steps to achieve those goals. It's also about choosing a certain timeframe to work within, so you can plan out everything that you want to accomplish. The choice is yours, but the sooner you start planning for your future, the better.
As well as taking actionable steps to prepare for these futures now, by reviewing your own business goals in line with The Four Futures you will be able to strengthen relationships with your clients and create a sustainable business model that can continue growing in any market situation. It's about identifying what you need to work on and making it a priority: that could be more work, more help or maybe more money.
One of the greatest challenges in business is deciding which products or services you should focus on, and prioritising these over others. This article explores how to answer this question by looking at your possible future scenarios with different outcomes based on what direction you choose to take. Now is the time to ask yourself, What direction is best for your bookkeeping business? Whatever the case may be, there's always a way to help you reach your business goals.
And in the wise words of Sharon Francisco: "So what are the actions that you take after that to make this happen?"
A replay of The Four Futures session is available here.