Interested in starting your own entrepreneurial journey but unsure what to expect? Then read up on our interview with Morgaine Trine, Owner of Honestly Bookkeeping, located in Tulsa, OK, USA.
What's your business, and who are your customers?
Honestly Bookkeeping helps small businesses to stabilize, strengthen, and create sustaining financial systems. Many business owners feel ill-equipped to adequately understand and manage their money, so we implement foundational and forward-thinking processes to allow the owner to make informed decisions about their business and build a stable financial business.
Tell us about yourself
I started Honestly Bookkeeping because, after getting a degree in Ancient Mediterranean History, I realized physically being close to the history I love was more important than making a career of it (career options usually required locations, not in the Mediterranean). I first decided to start traveling and figure out how to work remotely. At that time, I was working at an investment firm, and my boss said to me, "you know, Morgaine, we're in people's safe space more than almost any other service provider." That sentiment made everything click as to why I liked being in the finance world. So I decided to start a virtual bookkeeping firm. It allowed me to start traveling in the Mediterranean and build a business I am so proud of. What keeps me going is that our clients keep expressing how comfortable and safe they feel working with us.
What's your biggest accomplishment as a business owner?
Depending on the source, only 50% of businesses make it to the five-year mark. By making it past the 5-year mark, I've already made a big accomplishment. However, I think I've made this achievement by focusing on systems, identifying limiting beliefs that hold me back, and finding mentors to go to when I need support or feedback.
What's one of the hardest things that come with being a business owner?
I think what's been hardest for me is realizing when I need to readjust something in the business when growing. I put a lot of work into systems and processes, and those are tailored to the stage of growth for my business. I forget that what got me here (wherever that is) isn't what will get me to the next stage of growth. When I'm feeling stuck or behind, it usually takes me a bit to realize my systems and processes need to be updated/refined and not that I'm "failing."
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- When starting a business, identify the blocks that are holding you back and assess whether that's a legitimate issue or just something you think you need/want/are supposed to do.
- Set up systems sooner rather than later! For example, I started creating a process library of all my tasks before I was ever hired. That way, when I did start hiring, it was super easy to train the team member in how things work and cut down on my time training/creating new systems.
- Be selective with your advice. There are lots of different styles of businesses and business ownership. As you grow, start to identify the peers/coaches/"gurus" who you align with instead of trying to get advice from someone that doesn't align with your style or trying to force yourself to grow in a way that doesn't feel like you.
Where can people find you and your business?
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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