"You can have all the great checklists and all the great systems for quality bookkeeping and you can hire all the right people, but if you don't know how to price your services, you are going to fail. You will not be profitable."
–Teresa Slack

In part three of this four-part series, Teresa Slack, co-founder of Financly Bookkeeping Solutions, shares the phase where momentum finally began to build. After resetting the firm, she and her sister shifted their focus to working on the business, not just surviving inside it, and made real progress through uncomfortable pricing conversations, focused implementation time, and disciplined investment in systems and training.

In this episode, you'll learn:

• Why systems alone are not enough without proper pricing
• The difference between fixed pricing & true value pricing
• How Teresa increased prices & discovered clients were willing to pay

To learn more about Teresa, click here and email her at teresa.slack@teresaslack.ca.

Connect with her on LinkedIn.

Learn more about Pure Bookkeeping.

Subscribe to the Value Pricing Academy YouTube channel.

Join VIP list for free training from Mark Wickersham here.

Get your free copy of How to Price Bookkeeping eBook (the tool she used to turn her business around).

Click here to join the VPA on Skool platform free training and support.

Time Stamps

00:54 – Entering the phase where momentum begins to build
02:29 – Why poor pricing guarantees failure, even with great systems
03:29 – Fixed pricing versus value pricing explained
04:22 – Presenting higher prices & hearing clients say yes
05:47 – Making large investments without feeling ready
06:40 – Closing Fridays to work on the business
08:17 – Turning training into real results through implementation
09:35 – Fixing pricing mistakes & rebuilding confidence
12:02 – Hiring experienced bookkeepers using structured systems
13:56 – Why skills alone are not enough without the right mindset
18:09 – Building a training process that sets staff up for success
20:16 – Repricing existing clients & facing the fear
22:09 – Increasing revenue by 45 percent in six weeks
23:27 – Losing the wrong clients & moving forward stronger
24:16 – What's coming in the final episode

Your expertise has more value than you think, so Own Your Authority at The Successful Bookkeeper Summit 2026!

It's a high-energy two-day virtual experience for bookkeepers ready to lead with confidence and elevate their impact.

Join inspiring leaders on November 4th–5th to gain actionable strategies, powerful tools, and the clarity to shape the work you want, not just keep up with it.

Don't miss this incredible opportunity!

REGISTER TODAY!

"We can do hard things even though you're afraid, even though you don't know if it's going to work. You have to try. You have to do different things and you will fail. And that's part of the growth. Part of the learning is to not be afraid to take that leap."
–Teresa Slack

In part two of this four-part series, Teresa Slack, co-founder of Financly Bookkeeping Solutions, shares the breaking point that forced her and her sister to reset their firm. With the business no longer working, they made hard calls that led to Financly 2.0, including letting staff go, rebuilding client trust, and investing money they didn't have into systems, coaching, and pricing education.

In this episode, you'll learn:

• How poor hiring & hourly pay created bigger losses as the firm grew
• The difference between fixed pricing & true value pricing
• How investing in systems &coaching changed how they viewed their value

To learn more about Teresa, click here and email her at teresa.slack@teresaslack.ca.

Connect with her on LinkedIn.

Learn more about Pure Bookkeeping.

Subscribe to the Value Pricing Academy YouTube channel.

Join VIP list for free training from Mark Wickersham here.

Get your free copy of How to Price Bookkeeping eBook (the tool she used to turn her business around).

Click this link to join the VPA on Skool platform free training and support.

Time Stamps

01:19 – Hitting the breaking point & questioning whether to continue
01:43 – Deciding to rebuild the firm from the ground up
02:23 – Investing in systems & support with no margin for error
02:44 – Letting staff go & repairing client relationships
03:56 – Realizing pricing was a major problem
04:52 – Discovering value pricing for the first time
05:13 – Rolling out fixed packages & why it made things worse
06:11 – Paying staff more than clients were paying the firm
06:57 – Committing to hard changes & doing things differently
07:40 – Investing in pricing education despite fear
08:14 – Learning to believe in the value of bookkeeping work
09:35 – Having pricing conversations without panic
11:18 – Why systems & hiring processes became the turning point
15:04 – What's coming next in part three

Your expertise has more value than you think, so Own Your Authority at The Successful Bookkeeper Summit 2026!

It's a high-energy two-day virtual experience for bookkeepers ready to lead with confidence and elevate their impact.

Join inspiring leaders on November 4th–5th to gain actionable strategies, powerful tools, and the clarity to shape the work you want, not just keep up with it.

Don't miss this incredible opportunity!

REGISTER TODAY!

"The mission was always to build a million dollar bookkeeping firm. Our goal was to grow a large bookkeeping firm with clients and staff across Canada. That's what we wanted to do. And that's kind of what we are now."
–Teresa Slack

In part one of this special four-part series, Teresa Slack, co-founder of Financly Bookkeeping Solutions, shares the honest story of launching a virtual bookkeeping firm in 2014 with big goals, low pricing, and no clear path to profit. She shares how her business grew fast and looked successful on paper, but behind the scenes the pressure was intense as underpricing, early hiring, and years without owner pay slowly drained the firm and took a personal toll.

In this episode, you'll learn:

• Why rapid client growth exposed serious pricing & margin issues
• What really happens when you hire staff before fixing your business model
• How fear, stress & lack mindset show up when owners stop paying themselves

To learn more about Teresa, click here & email her at teresa.slack@teresaslack.ca.

Connect with her on LinkedIn.

Learn more about Pure Bookkeeping.

Subscribe to the Value Pricing Academy YouTube channel.

Join VIP list for free training from Mark Wickersham here.

Get your free copy of How to Price Bookkeeping eBook (the tool Teresa used to turn her business around).

Click here to join the VPA on Skool platform free training & support.

Time Stamps

01:14 – Launching a virtual bookkeeping firm in 2014
03:15 – Using cloud tools & early adoption of QuickBooks Online
03:35 – Running free financial literacy seminars to attract clients
04:01 – Growing from five clients to dozens across bookkeeping, tax & consulting
04:21 – Feeling overwhelmed & deciding to hire staff
05:09 – Charging hourly rates that left no room for profit
06:06 – Paying staff & overhead while taking no income
07:03 – Driving hours to Toronto to build a client base
08:25 – Why the numbers looked good but the business wasn't healthy
08:44 – The original vision to build a million-dollar firm
09:50 – Not getting paid & questioning personal success
10:34 – Realizing they needed help but feeling unable to afford it
11:16 – Fear, lack mindset & pulling from savings to make payroll
12:39 – The emotional strain of running a business with a sibling
13:18 – Creating "business hat" conversations to manage conflict
14:20 – Keeping communication open during stressful seasons
14:43 – What's coming next in part two

Your expertise has more value than you think, so Own Your Authority at The Successful Bookkeeper Summit 2026!

It's a high-energy two-day virtual experience for bookkeepers ready to lead with confidence and elevate their impact.

Join inspiring leaders on November 4th–5th to gain actionable strategies, powerful tools, and the clarity to shape the work you want, not just keep up with it.

Don't miss this incredible opportunity!

REGISTER TODAY!