200 ⎸ What I Learned in 2024 & Q1 of 2025

Hey ambitious bookkeepers!

Well, here we are. Episode 200 of the Ambitious Bookkeeper Podcast, and honestly? I've been putting off recording this one.

I wanted to record it at the beginning of 2025, but here we are halfway through Q2, and it felt like the right time to pause and reflect on what the hell happened in 2024 - and what I've learned so far in 2025.

Because let me tell you, it's been a ride.

Listen here or on your favorite podcast player, or watch the video version on YouTube >>

Now let's dive into some highlights!

The Numbers Don't Lie (But They Don't Tell the Whole Story Either)

Let's start with the business stuff, because I know that's probably why you're here.

Revenue Growth: 31% year-over-year

Not bad, right? Especially considering we lost four clients in 2024. But here's the thing - those client losses taught me more about my business than any growth ever could.

The Client Churn Reality Check

We let go of one client who wasn't in our niche anymore. Another client closed her business after going through bankruptcy - and that one hit me hard.

This client had fraud happening in her medical billing business. For TWO YEARS, I kept telling her there were issues. People were manipulating commission rates to get higher payouts, then taking clients when they left. She kept pouring her own money into the company, thinking she could turn it around.

Finally? Bankruptcy.

This was my second client to close their doors after not taking my financial advice, and it absolutely broke my confidence. I started questioning my communication style - if I couldn't get her to listen to me, how was I going to help my other clients?

It forced me to get more direct, more assertive. Less passive, more stern. Because sometimes you can lead clients to water, but if you're not clear about why they need to drink, they won't.

The Profitability Shift

Here's where things get interesting. While revenue grew 31%, my cost of goods sold jumped from 35% to 43% of revenue.

Why? Because I made a conscious decision to stop promoting my high-ticket CFO services.

More on that in a minute.

The Personal Stuff That Changed Everything

I've always been careful about oversharing online, but this part of the story is important because it directly impacted my business decisions.

In 2024, I discovered I had been living in toxic mold for two years.

Not black mold - that's not the only dangerous kind. I was living with toxic levels of Penicillium (yes, like the antibiotic) in my air quality, and I'm allergic to it.

The symptoms were brutal:

• Constant illness (bronchitis in the middle of summer?!)
• Lost two-thirds of my hair
• Brain fog so severe I struggled to find words during podcast recordings
• Fatigue that required 2-3 days recovery after any full day out

This is why I consciously decided to scale back on CFO-level services and bring on more base-level clients that my team could handle 100% without me.

Was it the most profitable decision? No. But it was the right decision for my health and capacity at the time.

The $10K Investment With "No ROI"

I spent almost $10,000 taking my entire team to Xero Con in 2024.

My accountant brain immediately calculated that as $10K I could have kept in my pocket. But the indirect ROI was priceless.

My team member who's been with me for 6-7 years? We had never met in person until that event.

The team building, the shared experience, the feeling of being valued - that's an investment in the heart of your business that can't be measured on a P&L.

What I'm Doing Differently in 2025

Communication First

I'm being more direct with clients about financial red flags. If I see something, I say something - loudly. No more dancing around issues that could sink their business.

Team-First Operations

I'm continuing to bring on clients that my team can service 100% without much oversight from me. It might be lower margin, but it's more profitable when I'm not involved in delivery at all.

Health-First Business Decisions

I'm still working with a nutritionist to recover from mold toxicity and adrenal fatigue. My business strategy has to match my life capacity, and there's no shame in that.

The DIY Direction

I'm building out a DIY books offer for clients who pause services because they're not profitable enough to justify our minimum fees. They can absolutely handle things on their own - they just need the right education and support.

The Permission Slips You Didn't Know You Needed

If you're going through something personally - chronic illness, family issues, major life changes - you don't have to choose advisory services as your path to scalability.

Sometimes the most scalable offer is your base package that your team can handle completely without you.

You also don't have to overshare about your personal struggles to connect with people online. Share what feels right, keep the rest private. Both approaches are valid.

Looking Forward

I'm focusing on low-key everything this year. Small networking groups, micro-conferences, team retreats instead of big launches.

The Bookkeeping Biz Workshops are coming back in August - shorter format, evening sessions, designed for people with day jobs or kids who need support during different hours.

The Elevate Mastermind continues for folks who want to go deeper on advisory services, and we're launching a private podcast with Kendra Courtney about all things Dubsado.

But mostly? I'm just grateful to be here, healthy, and able to serve you all through this podcast for 200+ episodes.

Thanks for hanging in there with me through the ups and downs. Here's to whatever comes next.

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