Parker Stevenson:

Bookkeeping Basics for the Online Business Owner

On today's episode I'm interviewing Parker Stevenson, a co-owner and partner at Evolved Finance, bookkeeping and business education company dedicated to helping online entrepreneurs create profitable and healthy businesses.

Founded in 2010, Evolved Finance began as a small, boutique bookkeeping firm and is now the go-to financial team for some of the most successful online businesses in the industry.

Their clients are notable bloggers, authors, coaches, content creators, agencies, consultants, creatives, and course creators. Before joining Evolved Finance, Parker worked in the music industry, the automotive industry, and the sporting goods industry.

On today's episode I'm interviewing Parker Stevenson, a co-owner and partner at Evolved Finance, bookkeeping and business education company dedicated to helping online entrepreneurs create profitable and healthy businesses.

Founded in 2010, Evolved Finance began as a small, boutique bookkeeping firm and is now the go-to financial team for some of the most successful online businesses in the industry.

Their clients are notable bloggers, authors, coaches, content creators, agencies, consultants, creatives, and course creators. Before joining Evolved Finance, Parker worked in the music industry, the automotive industry, and the sporting goods industry.

In this episode you'll hear:

  • Parker give a brief history of his experience in the corporate workforce and how that helped him realize that he was cut out more for the entrepreneurial world, which led him to co-create Evolved Finance.

  • How Evolved Finance is not like other typical finance or accounting firms, but instead how they are specifically specialized for online business owners, coaches, course creators, and the like.

  • Why Evolved Finance is so passionate about helping online business owners and entrepreneurs, and why their systems and processes are able to truly help so many.

    • “It's hard as an entrepreneur because you don't know what you don't know…We saw this opportunity to not only just do the books (we didn't want to become a commodity and just be like any other bookkeeper where it's [more about] how cheap can we do our bookkeeping in order to attract new business), we said let's provide an experience that we think this industry needs, that we think this market is craving.”

  • Parker talk about some of the biggest mistakes he sees online entrepreneurs making when it comes to bookkeeping.

  • How and when spending money on continuing education products as an online business owner (coaches, courses, etc.) can be helpful, but also how and when it can be harmful to the life of your business.

  • The importance of profit, margin, and revenue— and the trap a lot of entrepreneurs fall in, which is making a lot of revenue, but not making a profit.

    • “A lot of business coaches talk about how much revenue they generate in their launch or how much revenue their business did [and] we always [ask], ‘Well what was your profit?’ Because at the end of the day most of our clients will not be selling their businesses, it's just the nature of these online businesses— they're not really going to be a business someone's going to sell. So it's so important that our clients are making as much money, as much profit, as they can to build their personal wealth because they're never going to have a big payday at the end of their businesses lifecycle.”

    LINKS:

    If you loved hearing from Parker today, I'd love to hear all about it! Take a screenshot and post it to your Instagram Stories with your biggest takeaways and tag me, @rachelrmcmichael!

    LINKS:

    If you loved hearing from Parker today, I'd love to hear all about it! Take a screenshot and post it to your Instagram Stories with your biggest takeaways and tag me, @rachelrmcmichael!