This is a YouTube video titled "Bookkeeping revenue" containing a monologue or single-speaker discussion recorded in May 2024. The speaker talks about managing recurring revenue, outsourcing bookkeeping tasks overseas to reduce costs, and the challenges of scaling a fractional CFO service without overworking. The content focuses on business operations and time management strategies.
There was a large part of recurring revenue that I was missing out on. We wanted to add in bookkeeping, but it's not exactly what I'm the best at. It's not really like a super use for my time, like dollars per hour. And so we started to bring in staff members from overseas to take care of that work at a reduced cost. We brought that in house just a couple months ago, but prior to that is 100% fractional CFO. Again, until about last year, it was just me. And we brought on Sarah. She'll probably listen to this. She's fantastic. I did that because I only had so much time, and I don't really want to work between like 20, 25 hours doing this. Realistically, no matter how good you are at your service is that that puts you at a cap. So I had to figure out things a different way. I'm assuming kind of like you and. And a lot of people who might be listening. I didn't want to work 100 hours a week in this business. I can go back and get a corporate finance job if I want to do that.
