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Meet Caroline Passmore of CRP Specialists

Today we’d like to introduce you to Caroline Passmore.

Hi Caroline, thanks for sharing your story with us. To start, maybe you can tell our readers some of your backstory.
This is my second time going out on my own in a bookkeeping business. The first time I had to shut down due to the fact that my first husband had passed away, and I had to go back to work in a full-time job. I had only been running my business part-time to supplement our income back then. But knew how much I loved it. When the opportunity arose once again, as I was extremely unhappy in my position and wanted to find another solution. My husband and I talked about what I could do and we talked about me opening my own bookkeeping business. It was taking a leap of faith as I quit my full-time job and jumped in full force.

So, it took me about a year to gain enough clients to feel comfortable enough and figure out what direction I really wanted to take with my business. This was when I made the decision to specialize in nonprofit organizations and service industries like marketing agencies and coaches. I knew this was where my heart was when it came to my business. I wanted to find a place where I could truly help others.

I also saw a need for affordable mentoring in the bookkeeping space. There were a lot of mentors out there that offered their services for thousands of dollars, which is not affordable to most bookkeepers starting out. Most are starting on a shoestring budget like I was. Or parents trying to figure out how to pay the bills without having to work outside of the home and pay extra for childcare. I’m empathetic to their plight. So I began offering a low-cost mentoring. I love helping bookkeepers with their individual business needs.

This has recently evolved into a secondary business called Bookkeeping is Fun, LLC. I have created a low-cost course which will provide bookkeepers with the tools to ensure they can thrive in their business. I will then have a membership program which will also be a low cost to allow the bookkeepers to continue to be supported. They can ask questions and I will be going live to provide value each week. I will also be bringing in guests to add additional value as often as possible.

The next venture for Bookkeeping is Fun is going to be a financial statement course for business owners. All business owners should understand their numbers and their financial statements, so this course will help them with that understanding. Then we will have a membership program where we will set them up in an accounting software, as these are generally businesses that may not be ready for someone to do their bookkeeping for them yet, but we will be there to answer questions and support them. If their questions are higher level then we can assist with that as well.

I’m sure you wouldn’t say it’s been obstacle free, but so far would you say the journey have been a fairly smooth road?
It definitely has not been a smooth road! I started my business with the intention of niching in construction companies. I was not that thrilled with construction companies, so I changed my niche. Then the pandemic hit. I was lost. I had no idea what to do and how to market myself. I struggled on how to find clients. Then I connected with a couple of CPA’s, one of which asked me if I knew anything about fund accounting. A lightbulb came on at that moment. I did know fund accounting, having worked for the school district for the last 12 years! So, having gone back to work did benefit me at least. I had left the district for another position, which is why I had decided to start my business to begin with.

So, this CPA referred me to a nonprofit organization to do their bookkeeping. This was the beginning of my love of bookkeeping for nonprofits. I had found the place and niche where I truly belonged. It showed me how much I love to serve and help and support others. Which not only has lead me to my niche but to my second company, Bookkeeping is Fun, LLC.

We’ve been impressed with CRP Specialists, Inc, but for folks who might not be as familiar, what can you share with them about what you do and what sets you apart from others?
I have two businesses actually, CRP Specialists, Inc and Bookkeeping is Fun, LLC. In my bookkeeping business, I provide bookkeeping services specializing in nonprofit organizations, marketing agencies and coaches.

Then my other business Bookkeeping is Fun LLC is a course and coaching membership program. There will be two courses in total so far. That is all that I have planned at this point, but who knows, it may end up being more, as I have other ideas to add for the business owner side of things to enhance the education for business owners.

But what that involves is first, a low-cost course for bookkeepers to allow them to have all of the tools to ensure that they can begin their business worry-free. Often bookkeepers take courses to learn the skills it takes to provide the services but do not really understand all of the tools it requires, including workflows and processes to ensure they can manage their business in a smooth and efficient manner. It is then followed by a low-cost membership where they will continue to be supported and added value with additional education and guest speakers. They will have the ability to ask questions about any clients they have and any other situations that arise.

The business course will include a financial statement course to explain all of the details of financial statements to business owners. Business owners need to understand their numbers. They will then be offered to be established in an accounting system if they are not or supported if they already are. It will be followed by a different membership community where they will be supported while they manage their accounting on their own until they are ready to have a professional handle their books for them. They will have the ability to ask professional bookkeepers questions and receive the answers and assistance and support. The bookkeepers from the mentoring program will be utilized as they have proven their understanding of bookkeeping to assist with the support for the businesses, to help them with their proficiency in bookkeeping and gain self-confidence.

Do you any memories from childhood that you can share with us?
I am the first American born of parents who moved here from Canada. My parents did not speak a word of English when they came to the United States, but my father was determined to make a better life for his family. I was born in Santa Monica, where my parents moved with my brother and sister. Then we moved to Culver City where we lived until I was nine years old. My father owned a Texaco service station. He serviced many of the cars to the stars but this was back in the 70’s.

We moved to Florida in 1976. We left California on July 1st, 1976. We had a motor home and drove it on a very long trip through the northern states and up through Canada to visit our family. While there, my parents had an accident in the motor home. Instead of purchasing something else, my father and his brothers rebuilt the motor home. We finally left Canada and arrived in Florida in November of 1976.

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