WBS Interview - Karen from Bookit Bookkeeping

Meet Karen from Bookit Bookkeeping

Since starting in 2009, Bookit Bookkeeping has grown from one bookkeeper to a team, ready to help businesses big and small. We take care of everything from straightforward data entry to BAS preparation and lodgement, and everything in between. The number of clients and industries we service continues to grow as more and more companies realise the value we bring.
Our clients love the feeling they get once they know that their books are no longer a burden. It’s a feeling that never goes away because we continue to show how many ways we can give them back their time.
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What does being a business owner mean to you and why did you want to start your own?

I went into business for myself because I saw a real need for bookkeepers who took a real hands-on approach and worked ‘with’ businesses instead of ‘for’ businesses. Being a business owner is about having complete control over what direction my business takes and what service I provide.

What or who has been your greatest influence in business and why?

My greatest influences have been my clients. Through working with them, I have learnt so much about running a business, managing my team and being successful. We are fortunate to work with clients in over 50 different industries and every single one of my clients have taught me many important lessons along the way.

What would you say is your greatest professional accomplishment to date?

That my business is still growing strong. That will always be my greatest professional accomplishment at any moment.

What’s the best advice you have received in business that you wish to pass on to our readers?

Know your numbers! You don’t have to like numbers but at the end of the day, that’s the best way to know where your business is at and where it needs to go.

What has been the most effective marketing initiatives or programs you have used to promote your business?

Word-of-mouth has been the best source of business for us so far. Our clients continue to refer others to us because they love what we do for them. Our passion is easiest to demonstrate through either face-to-face meetings or through clients telling others how much better their life is now that they have us.

What one thing have you learned as a small business owner that has served you well over the years?

Being a part of the local community and give back where you can.

Are there any resources or tools you’d like to share with other small business owners that have helped you run your business?

Xero – one of the best and easiest programs to use for bookkeeping and invoicing. It saves so much time and money in the long run.
ReceiptBank – take pictures of your receipts and they upload directly to Xero. You can even email them directly to ReceiptBank.
Networking events/groups – being part of a networking group means you get access to invaluable business knowledge, and going to one-off events helps you meet people you would not normally mingle with.

Do you have any new projects coming up?

We’re have just hired our fifth Bookit hummingbird. It’s an exciting time because this now means we have more time and capacity for new clients. It also gives me time to expand the business even further.

What do you do for fun/relaxation?

I love to watch sport, any sport and especially AFL. GO THE LIONS!

What would you say are the top three skills needed to be a successful entrepreneur?

Foresight
Motivation
Strength

What is your greatest fear, and how do you manage fear?

My greatest fear is failure because I am a perfectionist. It goes hand-in-hand with the job. I love what I do so much that sometimes, I want everything to be perfect, rather than ‘done’. To make sure I stay focused, I use a few time management techniques to keep me on task and moving forward.

What makes you happy?

Seeing a client come from messy books to being completely up-to-date, working with them to be aware of their numbers and watching their momentum grow.

What sacrifices have you had to make to be a successful entrepreneur?

Time is the biggest sacrifice. I would love to be with my family more, but I’m doing this so that eventually, I don’t have to choose between them and my business. As the years have gone on I am gaining more family time – just this year I have now started working in the office school hours only – LOVE IT!!

Excluding yours, what company or business do you admire the most?

That is a hard one. I can think of a few businesses but those I admire most are those that keep soldiering on, those that know they are on the right path, and are five or ten years so they are seeing the success.

Where you see yourself and your business in 10 years? 20 years?

In 10 years, I’ll be managing a highly successful bookkeeping business of over 10 staff and well over 100 clients who came to us because they needed us to give them back their time.

In 20 years, I’ll be semi-retired but still hands-on with Bookit. This business will always be my baby and I want to see it grow well.

What book has inspired you the most?

I love reading Richard Branson’s’ autobiography. His ‘get out there and give it a try’ mentality really resonates with me.

How do you measure your success in business?

If my clients succeed, then I succeed. Simple.

Do you have kiddies if so how many?

I have two: Lachlan is 6 and Jessica is 8. Because I work a lot, their favourite activity is just being with me, so we’ll go to the park, go out for dinner, go to a sports game and just enjoy being with each other.