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Create Residual Income as a Let’s Do the Books Referral Partner

Quick Overview
Earn $500 or $1,000 per successful bookkeeping referral, paid over six or twelve months, for a nice recurring income stream. Read on for details.
 
About Us

Let’s Do the Books provides bookkeeping services with friendly sliding-scale fees to life coaches, solo consultants, and freelancers.

Who You’d Be Working With

I’m Mark Butler, founder of Let’s Do the Books. For over a decade, I’ve served as “chief money guy” for online businesses, including several that earn millions per year. I launched Let’s Do the Books in 2020 to provide accessible bookkeeping services to coaches and other solo operators who want professional care without the expense of a fractional CFO.

More About the Referral Program

 
A two-tiered commission structure ensures you win when we win.

When a client pays $500 or more in their first six bookkeeping bills, you earn $1,000. You earn $500 for clients whose first six bills total less than $500.

A simple example:

ClientTotal fees after 6 paymentsCommission
Client 1$389$500
Client 2$750$1,000
Client 3$206$500
Client 4$1,200$1,000

Our client-friendly sliding-scale fee structure (details on our services page) means our clients’ fees vary month-to-month, but our partners know they’ll earn $500 or $1,000 regardless of the client’s fluctuating fees.

How commissions are paid.

Commission begins accruing as soon as the referred client makes their first monthly service payment.

Commissions “vest” after a client’s third payment. If the client doesn’t make at least three payments, commissions on that referral are canceled. Why? Because onboarding clients is expensive. When a client leaves after one or two months, everyone loses.

To be clear: commission is paid retroactively on all payments the client makes, we just don’t start making payments until the client has reached the three-payment milestone.

Qualified commissions are paid out at a rate of $83 per month until reaching $500 or $1,000, depending on which tier a referred client reaches.

Here are example commission payments for a $1,000 referral.

  • Note how qualified commissions are paid in the second month after they’re earned (e.g. commission earned in February is paid in April).

(If this were a $500 commission, there would only be six payments totaling $500.)

DateEventCommission Paid
Jan 25Referral signs up and pays $1 registration fee$0
Feb 10Referral makes first service payment 
Feb 28Commissions paid end of month$0
March 10Referral makes second service payment 
March 31Commissions paid end of month$0
Apr 10Referral makes third service payment (commissions are now “vested”) 
Apr 30Commissions paid end of month$83 (1 of 12)
May 10Referral makes fourth service payment 
May 31Commissions paid end of month$83 (2 of 12)
June 10Referral makes fifth service payment 
June 30Commissions paid end of month$83 (3 of 12)
July 10Referral makes sixth service payment 
July 31Commissions paid end of month$83 (4 of 12)
Aug 10Referral makes seventh service payment 
Aug 31Commissions paid end of month$83 (5 of 12)
Sept 10Referral makes eighth service payment 
Sept 30Commissions paid end of month$83 (6 of 12)
Oct 10Referral makes ninth service payment 
Oct 31Commissions paid end of month$83 (7 of 12)
Nov 10Referral makes tenth service payment 
Nov 30Commissions paid end of month$83 (8 of 12)
Dec 10Referral makes eleventh service payment 
Dec 31Commissions paid end of month$83 (9 of 12)
Jan 10Referral makes twelfth service payment 
Jan 31Commissions paid end of month$83 (10 of 12)
Feb 10Referral makes thirteenth service payment 
Feb 28Commissions paid end of month$83 (11 of 12)
Mar 10Referral makes fourteenth service payment 
Mar 31Commissions paid end of month$87 (12 of 12)
How referrals are tracked and paid out.

All commissions will be paid through PayPal Mass Pay on the last business day of the month. This means a) you’ll need a PayPal account to receive commissions, and b) you’ll need to be comfortable paying a 3% merchant fee (just as you would with any other client payment).

Partners will receive an end-of-month statement tracking their active referrals’ commission timelines.

Earning Potential

Historically, about 60% of clients have reached the fee threshold for the $1,000 commission. If that percentage holds, you’d earn just under $10,000 in a year by referring one client per month.

*60% is the average after five years of data and several hundred clients. I can’t predict whether that percentage will persist across all future signups.

Attribution

The Let’s Do the Books signup page has a “who referred you” field. When a new client enters your name, that’s your client. We want to reward our partners, so if a client signs up and leaves the referral field blank, we’ll follow up during the onboarding process to ensure the referrer gets credit.

Presumption of “Good Business”

Let’s Do the Books gives great service to coaches, consultants, freelancers with small teams, dedicated business bank accounts, and a collaborative attitude. We are happy to help new clients clean up the past and get organized (we have great systems to support this), and then we need them to give us about five minutes of attention each month.

Our best partners will encourage the people they refer to bring a professional mindset to the service. This sets the bookkeeping relationship up for success (See the FAQ at bottom of our services page for clarity on how we work and who we serve well.)

We’d love to support your promotion of the service.

I’m Mark, the owner of Let’s Do the Books. I’m happy to come on your podcast, co-create promotional materials with you, and brainstorm other ways to support your promotion of the service. Just send an email to team@markbutler.com and we’ll get together!

How to Join the Partner Program

Click the button below or send an email to team@markbutler.com to let us know you’re excited to partner with Let’s Do the Books. We’ll acknowledge your email and ask how we can help you get started. After your first successful referral, we’ll request your PayPal email address and send a link to your commission tracking statement.