Building Bridges, Not Barriers: How “Co-petitors” Can Be One of Your Greatest Business Assets
In the world of remote bookkeeping and tax preparation businesses, it's easy to see your peers as competitors. After all, you're all vying for the same clients and striving for financial success. But what if we told you that your fellow bookkeepers and tax pros could be your greatest allies in this journey? Hold onto your calculators; it's time to explore the hilariously practical world of business besties and 'co-petitors.'
One of our best co-petitors and my personal friend, is Beth Blaney, owner and CEO of BBA Bookkeeping. Beth actually applied to join the AccountAbility team, but just 20 minutes into her interview, it became abundantly clear that hiring her was not the path we should take. It wasn't because her skillset was lacking – quite the opposite. She was undeniably a superstar. However, it was evident that working under my, or anyone else's, direction would only stifle her spirit. What this remarkable woman needed was guidance and support. She needed a friend or mentor to reveal the opportunities she hadn't yet discovered.
If you've ever had the privilege of connecting with Beth, then you know that our connection was instantaneous. After just one call, we were practically inseparable. So, when she agreed to join me on an upcoming business trip to sunny Florida, it didn't seem odd at all. We hopped on a plane and spent the next three days immersing ourselves in an extraordinary reality. We found ourselves at a conference filled with hundreds of niche business owners, many of whom were absolutely killing it in their fields.
I mean, honestly, who wouldn't want this gem by their side on a business trip? Over the next several years, I had the privilege of observing this incredible woman as she steadily climbed her way to the summit. She poured in time, money, sweat, tears, and probably a few drops of blood to nurture her empire. It took me a team of eight and well over 15 years to build my business to the level she reached in just six years. Her unwavering determination and persistence are nothing short of inspirational.
Beth and her powerhouse team of badass female bookkeepers offer do-it-yourself courses and done-for-you full-service bookkeeping, so no matter where you are in your business journey, they’ve got you covered. But the service we recommend most to our own clients? BBA’s Diagnostic Review which includes:
Onboarding video chat to evaluate your needs & create a plan
Deep-dive review of current QuickBooks to discover and evaluate any potential issues
Comprehensive analysis of your books and suggested corrections
One hour post-review video chat to review analysis
So why are we recommending another bookkeeping business? Because not only are we besties in real life, but our businesses are complementary, which means we can offer our clients a comprehensive suite of services that allow them to offload their books and taxes and spend more time doing what they love. And yes, there are some benefits for us too…
Growing Together:
In this ever-evolving industry, change is the name of the game. Tax codes morph, financial regulations twist and turn, and technology marches forward like a toddler chasing a shiny object. Having a circle of trusted colleagues, like our friends at BBA Bookkeeping, who understand our unique challenges is invaluable. When we collaborate, share insights, and pool our collective knowledge, we all grow together, kind of like a tightly-knit squad of financial superheroes (minus the capes).
Sharing Business and Referrals:
One of the juiciest perks of these relationships is the potential for referrals. We've all been in situations where a client's needs were better suited to another company's services. And when we've thrown that client a lifeline, they've returned the favor by sending clients our way. It's a beautiful circle of financial life, like the Lion King, but with fewer talking animals. By sharing business and referrals, we create a network that goes beyond competition. We build trust and credibility within our industry, making it easier for clients to find the right financial professional for their needs. It's a win-win-win (for us, them, and Simba).
Masterminding Together:
Mastermind groups have been helping business folk level up for ages. When Beth and I mastermind with our business besties and other co-petitors, we can tackle financial challenges with wit and wisdom. These gatherings of brilliant minds offer fresh perspectives, innovative solutions, and the occasional "Aha!" moment that can elevate all of our businesses.
Hanging Out - Just for Fun:
In a forest of remote businesses, it's easy to feel like a solitary accountant in a digital wilderness. That's why the 'just for fun' aspect of these relationships is so essential. Sometimes, it's not about business at all. It's about connecting on a personal level, sharing hobbies, and letting off steam. Whether it's a virtual happy hour, a friendly competition, or even being a bridesmaid, these moments of camaraderie keep us sane. They remind us that behind the screens and spreadsheets, we're real people with real lives, and that connection matters.
Do you see now why your business besties and co-petitors can be the biggest gift you receive? They help you grow, share business and referrals, mastermind together, and even offer a shoulder to lean on when you need it most. Find a business buddy - someone to chat through challenges and brainstorm solutions. But, most importantly, someone to celebrate the victories with.
I don't view H&R Block as competition, and I don't see other local accountants as rivals either. The truth is, the realms of bookkeeping and taxes require a particular brand of "nerdiness." There's an abundance of people out there who need our services. So, why not consider them as co-petitors rather than competitors?
Beth, I want to extend my heartfelt thanks to you for being such an inspiration to all of us. Thank you for the connections you've fostered, for being an embodiment of what every lady boss should aspire to be, for being my friend, and most of all, for being yourself. The world is undoubtedly a better place with you in it.
And don’t forget to contact Beth to schedule your Diagnostic Review before we head into tax season!
