113: Bookkeeping for Course Creators

Happy New Year from The Online Course Show! David and I are excited to be back with a new year full of awesome upcoming content for course creators, and a big goal for 2020. I’m planning on putting out an episode every week, rain or shine, which means 52 episodes chock full of important info and helpful insights into the world of online courses. It’s a tall order, but I’m feeling confident!Kicking off this first episode of the year we have Parker Stevenson as our guest. Parker is co-founder of Evolved Finance, and he’s all about bringing course creators up to speed in an area that is extremely important to maintaining a healthy business: bookkeeping "The whole point is to run a business that makes profit so that you as a business owner can live a lifestyle you want to live." - Parker Stevenson Parker provided some great food for thought on how to deal with finances within the world of online courses. I’m definitely taking his advice into consideration, and I hope you do, too!] In This Episode, We Talked About: (1:14) Starting the new year with a big new goal for this podcast (2:42) Thinking about goals, motivation, and penalties for 2020 (7:10) Reintroducing ourselves for new listeners (9:52) David and I revisit an issue that I recently discovered with my business bookkeeping (10:45) Introducing our topic and our guest (13:12) Parker tells us about his business working with online course creators (14:38) What is bookkeeping and why does it matter, anyway? (16:44) Being your own bookkeeper vs. hiring one (20:10) Insights that a service like Evolved Finance can give online course creators into their businesses (25:08) Why some businesses have less potential to be sold (26:44) The right percentage for profit (28:54) Parker’s thoughts for course creators looking for a bookkeeping service (32:41) What to look for in an accountant (37:11) Discussing the Profit First concept (41:43) Parker’s advice for new and aspiring course creators (45:24) How established course creators can set up a consultation call with Parker (48:33) Parting thoughts from Parker for course creators (49:28) David and I discuss the interview (52:56) What David’s been doing for bookkeeping and his tip for determining when to hire someone else (55:39) My experience with video editing hires (56:47) Will David outsource bookkeeping in the future? (58:56) Wrapping up We covered a lot of ground today, and I think there was plenty for new and growing business owners to consider. I hope you’ll drop me a line to let me know what aspect of today’s conversation was the most eye-opening to you. And stay tuned for another episode coming next week! Links Deadline Funnel Free Trial Evolved Finance Profit First The Online Course Accelerator Piano in 21 Days The Online Course Guy