Beyond the Books: How Morgaine Trine Is Building Trust and Enhancing Financial Management

Morgaine Trine, owner of Honestly Bookkeeping, is helping business owners build a solid financial foundation by gathering the essential data needed to enhance the money management process. 

After graduating with a degree in Ancient Mediterranean History, Morgaine set off on a journey to determine the path she wanted her life to take. While working as a project coordinator for a registered investment advisor, she fell in love with the finance space. She began researching financial careers she could have without a degree and landed on bookkeeping. She went on to complete the Bookkeeper Business Launch program and founded Honestly Bookkeeping the very same year. Now Morgaine has the opportunity to build trust among her clients while supporting them in important financial matters each day.

We asked Morgaine about the founding story of Honestly Bookkeeping, what she’s learned about building a team, and what she would tell her younger self if she were to start her entrepreneurial journey all over again.

Q: Tell us the story behind your company’s founding. How and why did you start working on Honestly Bookkeeping?

A: My degree is actually in Ancient Mediterranean History. After graduating and having a hard time getting my foot in the door for the profession I thought I wanted, I realized what was more important to me than working in that industry is being physically close to the history I studied, and having a career that allowed for remote work. So I took a year off to figure out what I was actually going to do with my life. At that time, I was working at a registered investment advisor doing admin work and surprisingly enjoyed it. When my boss said to me in passing one day, “We’re in people’s safe space more than any other service provider,” my passion clicked. That led me to research what financial careers don’t need a degree and I found bookkeeping and completed the Bookkeeper Business Launch program. Once I finished the program, I launched Honestly Bookkeeping and spent the first six months living in the Mediterranean, building the business, and visiting archeological sites. That was six years ago and it was the best decision of my life.

Q: What makes Honestly Bookkeeping different from other, similar companies?

A: As a firm, we focus on creating workflows, processes, and clear expectations for everyone touching money in the business. In this way, we’re not just doing bookkeeping, but keeping track of the flow of money, and making sure nothing slips through the cracks. For our clients, we’re the first people they turn to for financial matters; we actively keep their trust.

Q: Did you always know that you wanted to be an entrepreneur?

A: I actually resisted becoming an entrepreneur for the longest time. My mother has been an entrepreneur my whole life, owning a remote, online business since 1993, and my grandfather owned an ophthalmology practice performing some of the first cataract surgeries in the United States. This gave me a front-row seat to the struggles and pitfalls of being a business owner. Because I knew the cons of being an entrepreneur, I didn’t want to take the risk until I was absolutely certain it was the right choice for me. Turns out I’m meant to be an entrepreneur; sometimes family knows best.

Q: What were the most difficult and most impactful lessons you’ve learned starting and running a company?

A: The best advice I got when starting my business was that it was all going to change after the first year anyway, so don’t stress about finding the “perfect” package. For example, I talked to a lot of people who’d spent eons perfecting their website to launch the business and they all said they had to scrape it and refresh after the first year. Knowing that allowed me to make decisions quickly and not waste time on things I knew would change. I took the first year to learn what I actually needed for the business and then implemented after that.

Q: Have you struggled with self doubt as an entrepreneur? How do you navigate this?

A: Absolutely. I used to feel very insecure about the fact my degree isn’t in accounting. Why should anyone listen to me for their bookkeeping needs? But, the bookkeeping program I took is very well-regarded in the industry and absolutely gave me the necessary skills. To help with that self doubt I started writing down all my weekly wins, no matter how small, as a way to force me to look on the positive side. That, combined with hearing gratitude from clients, made a huge difference. That self doubt has waned the longer I’m in business and the more success I have.

Q: Has your definition of success evolved throughout your journey as a founder? 

A: At first, my definition of success was numeric. I thought I’d be “successful” if I reached a certain gross revenue or salary. But those metrics kept being a moving target; I’d reach it and then move the goal post farther away. Now, my definition of success is based on what I’m able to provide for my life. I was able to buy a home and travel extensively. That is a success. I employ multiple people and provide a livelihood for them. That is a success. When my fiance ended up with two major hospitalizations in six months, I had to step back from the day to day and let my team run the show. The business continued to grow, I was still able to pay myself, and clients were still happy. That is a success.

Q: What have you learned about building a team and a support network around yourself?

A: Currently we have five people on the team, not including myself. I always knew I wanted to build a team and eventually move away from the day-to-day client work and focus on running the business. One of the best pieces of advice I got for running a business also applies to leadership: your business only goes as far as you have personally. Meaning, you have to work on yourself, your mindset, your beliefs around what’s possible, in order for you and the business to grow. Similarly, your team only goes as far as you allow them. You have to be very self-aware in order to manage a team. I can’t let my personal hang ups interfere with expectations and communication with the team. I’ve absolutely made mistakes and it’s been a learning curve, but I realized the more I created a strong company culture and hired based on culture fit instead of hard skills, everything started working more harmoniously. For example, one of my application questions is, “How does integrity show up in your work?” That tells me more about a potential team member than how many years of bookkeeping experience they have.

Q: What would you tell your younger self if you were to start your entrepreneurial journey all over again? 

A: I’d tell my younger self to trust in my decisions, research, and always experiment; that a lot of my success will be because I got lucky and that’s okay. Lastly, don’t get lost trying to make what you think “should” happen, happen; enjoy the ride.

Morgaine is a member of Dreamers & Doers, an award-winning community that amplifies extraordinary women entrepreneurs and leaders by raising their profile through PR, forging authentic connections, and curating high-impact resources. Learn more about Dreamers & Doers and get involved here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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