Profile On: Erika Henke, Henke Bookkeeping

I recently learned about Henke Bookkeeping. This business has a horse focus! Erika Henke was kind enough to answer some questions about what she does.

How much of your day/week is related to horses?
Well not nearly as much time is spent with my horses as I would like… But I’m certain that is only a short term problem as I get my business going. I spend at least an hour a day with them just doing chores and spending time with them. And I would say I average at least a couple 2 hour sessions with them each week depending on the weather. Sometimes we ride around our farm, other times we do some arena work, and sometimes ground training and liberty work.

What is it exactly that you do?
I run my own bookkeeping firm, and I specialize in the Farming and Equine Business industries. Helping other farmers and equine enthusiasts is really what gets me up in the morning. Knowing that I help make a difference in their businesses is very rewarding.

My “job” involves the clean-up and daily maintenance of their finances to make sure they are getting the best tax advantage with their deductions. And showing them where their business stands financially so they can make the best business decisions possible. Besides basic bookkeeping, I also offer services such as:

• bill pay (accounts payable),
• invoicing (accounts receivable),
• payroll,
• sales tax filing, and more.

Equine Focused Bookkeeping

All of this takes the burden and stress off of the business owners that I work with and gets them back to doing what they do best and the things that only they can do. It frees them up to enjoy their business again and gives them more time either with their families or growing their business further.

In this field of work, is it possible to be a full-time professional and earning a liveable income?
Absolutely! Owning your own business is definitely not a get-rich-quick situation. It takes a lot of work and determination, but it most definitely is a viable solution.

In less than a year, I more than doubled my take-home pay from my full-time job prior to going off on my own as self-employed. And my income is not stuck at this level by any means. I can’t guarantee results for anyone, but I do believe with the right tools, a strong determination, and a positive, can-do attitude anyone can become an entrepreneur and be successful.

What are the general steps taken to be employed in such a role?
With regards to bookkeeping specifically, I think having an affinity towards numbers is definitely a plus! But this profession doesn’t require a degree in accounting or special certifications. Those things may help, but they certainly aren’t necessary.

I would suggest finding a bookkeeping course/group that you can take and be involved in, especially if you have little or no experience in bookkeeping and accounting. Even with experience, these groups are great resources as they give you a group of peers with varying experiences and levels of expertise that you can learn from and bounce questions off of.

Then there are the typical steps toward getting any business started like deciding if you want to form an LLC, getting your federal employer identification number (FEIN), a business checking account, etc. And finally, getting clients!

Profile On: Erika Henke, Henke Bookkeeping

This is sometimes the most challenging piece especially if you struggle with marketing yourself, but it is also the most fun and exciting. In a service based business, it’s all about selling yourself rather than a product. You are the product! Being confident, personable, and trustworthy are just a few of the character traits that will help gain you success in any business venture.

Favourite horse memory?
I can’t think of a specific memory, but I can say with certainty that my favorite times involve the trail rides that my daughter and I go on occasionally. We travel to a trail together talking and laughing about one thing or another. We have the best conversations and we get to spend quality time with each other and with our horses.

It’s always so peaceful and enjoyable. And I truly believe our horses enjoy being together and seeing a new environment with us too.

Future goals?
I am working towards growing and scaling my firm to have other bookkeepers working with me and form a mutual partnership with one or two CPA’s so that I can truly be a full-service bookkeeping firm offering tax preparation and filing as well. That is the one piece that I am missing at the moment.

I’d like Henke Bookkeeping to become a “household name” in the Equine Business realm and be the go-to firm that equine business owners seek out to handle their bookkeeping needs.

The Best Thing

Best thing about your sport/profession?
The best thing about my profession is the flexibility I have with my schedule. It was one of the main reasons I wanted to start my own business. We live on a farm and have 2 very active teenagers, both of which keep us extremely busy!

Knowing that I can schedule my day around the needs of either one is a huge weight lifted off my shoulders. Unlimited earning potential is a close second though!

I have worked in positions that offer little to no advancement opportunities. And it’s not fun knowing you have no control over that outcome. I truly enjoy the freedom and flexibility I have. And I consider myself one of the lucky ones to find a profession that I also love doing!