Would It Be Wise To Start A Bookkeeping Business?
Would it be wise to start a Bookkeeping Business?
A Bookkeeping Business is a service Industry business. This type of service would be marketed to other local businesses. All service Industry Businesses are determined by supply and demand of the consumer. The amount of business prospects available in your area will determine the demand for your service. A higher number of businesses in your area, would mean more business opportunities for your Bookkeeping business.
There are also other factors that will affect whether a successful Bookkeeping business can be established such as:
- Business Connections
- Geographical location
- Climate Changes
- Service competitors
- Your Skills & Knowledge
- Your Scheduling flexibility
- Your Credibility and Work Ethic
Build Your Business Connections
If you want to start a book keeping business, then you must meet the right people, and establish the right connections. Start with people and businesses that know you, trust you, and can either use your service or refer you to someone who could benefit from your service. Using a referral is a great way to get started. You can also market yourself in what is known as a mobile secretary.
I have had clients that ranged in multiple industries such as Automotive repair, Landscaping, Family Law, Real Estate investing, and Private Membership Clubs. It was not my intention originally to offer Bookkeeping and office Services for Local businesses when I had first gotten started. It was a series of events that progressed my business in that direction.
How my Bookkeeping Business Began
I began working for an Independent Automotive repair shop as a assistant for a service writer. While working for the repair shop I met my first client through a friend who worked at another Independent repair shop in the area. At the time I was working a typical full time job; Monday through Friday, 8am-6pm with an hour Lunch.
I was having a conversation with my friend during my lunch hour talking about how I enjoyed my job, but it didn't allow me much flexibility with hours. Taking care of personal business, and appointments had to be done during my lunchtime. That was when my friend informed me of a regular client they had who was looking for some extra help getting organized and getting invoices sorted out, as at the time his previous secretary had moved out of state. I could only offer him my services for a limited time (around 15-20 hours a week) because I still had a full time job, but I took the opportunity to make some extra money. The arrangement worked out perfectly and in the end he not only brought me another client, but offered me a regular salaried position in the process.
Being open to new opportunities, providing a good service, and making business connections made it possible for me to build business relationships and gain new clients.
Represent Your Business With Pride
Marketing yourself takes more than printing business cards, making a website and waiting for the clients to call you. You can virtually promote yourself, but if the real world is where you are looking to promote your services based on flexibility, and your own time structure then the best way to gain new clients is to get out there and talk to people! Socialize, meet, make friends, and be genuine. The best businesses thrive when you have genuine people that care about their work and take pride in their services.
Running a Bookkeeping business is not just about making money. It is about providing a service for established businesses using skills that you already have, and can potentially become a profitable business for you.
If you only have dollar signs in your eyes and do not wish to help your clients succeed, then you, my friend, will not succeed.
You also need to make sure you have the proper equipment, tools or software for your business. Being organized, prepared, and well equipped will keep your business running efficiently, show your clients that you are a professional, and will convey you know what you are doing.
Meeting a New Potential Client
Advertising for Your Business
Sign up for websites like 'Meetup' to connect with like minded entrepreneurs, and potential clients. Go to the social gatherings and make friends.
Advertise your services on a free, well known, web service such as 'Craigslist', or 'Backpages'.
Put an ad in your local newspaper and opt in for an online posting as well, offering your services. Some clients of the best clients will still have an old fashioned mindset and will likely still read the newspaper, but it is best to cover your advertising bases.
Go to Vistaprint.com and grab one of their specials for business card printing. They run specials all the time and you can usually grab between 200-500 well printed cards for less than $25. I have used them several times in the past.
Chat with your friends on Facebook and tell them what you are doing. Most people like the idea of helping others. As humans we have a natural curiosity to seek knowledge. So post up those pics of your new business card.
Start a Facebook page that is solely for your business. Post regular content, list your services, and offer service options.
Learn to use Quickbooks
Are You Ready to Commit to Your Business?
You need to be willing to commit to your Bookkeeping business. Be flexible with your scheduling, and follow through on time commitments. Before you make your Bookkeeping Business a full time expenditure, you must be sure that you can be consistent and maintain your integrity with your clients.
Profitable and established businesses trade their time for money, but if you cannot commit to providing a consistent and reliable service then you will be wasting their time.
You can maintain your credibility and professionalism by:
- Ensuring you follow through on your appointments
- Being Organized and concise
- Establishing a written or verbal contractual agreement that details your services, commitments and timeframes for each client
- Always bringing your laptop and supplies to each appointment (unless using their in-house office equipment)
- Keeping a friendly yet Professional demeanor at all times
- Never discussing the business details of clients (whether past or present) with other clients
Ultimately, it is up to you whether or not starting a Bookkeeping Business would be beneficial for YOU. I hope that reading this article has helped you decide whether or not you wish to go down that path.
Thank you for reading!
Much needed software
© 2008 Heather Ann Gomez