Breaking Free from the Bookkeeping Price Trap
In a recent webinar, Michelle Scribner talked with Mike Michalowicz about how bookkeepers can create sustainable, profitable practices in a fast-changing industry. They first addressed the “bookkeeping price trap”—the pressure to charge less and compete with automation or inexperienced competitors.
Michelle shared her early struggles: clients wanted to pay $200 a month. They didn’t see value beyond data entry and sometimes compared her to a college student.
The price pressure problem
Bookkeeping has become a commodity. With AI tools and low-cost options, many business owners think it’s a task anyone can do. As Michelle said:
“If you call yourself a bookkeeping company, you’re setting yourself up for a race to the bottom.”
Shifting position: From bookkeeper to trusted advisor
Her breakthrough came when she stopped calling herself a bookkeeper. Instead, she redefined her role as:
A trusted advisor who interprets numbers
A profit strategist using Profit First to help businesses succeed
A business partner guiding decisions, not just recording history
This change wasn’t about adding more work. It was about elevating the value conversation. Clients didn’t need “more bookkeeping.” They needed clarity and confidence in their numbers.
The result
By stepping away from the bookkeeping label, Michelle stopped competing with software and part-timers. She started attracting clients who valued strategic financial guidance.
Watch the full conversation
This story is just the start. To hear Michelle and Mike explore building a profitable, future-proof firm, watch the full webinar replay here