Do you know what every business needs? Does anyone do the book! If you’re someone who enjoys organization and has decent math skills, someone could be yours! I’m serious, accounting can be a profitable business: accountants are always in demand, and accounting itself is often something that business owners don’t have enough time or confidence to do.
Virtual bookkeeping jobs are widely available but often overlooked. Many people don’t think they have the skills needed to land a position. Despite being its closely related accounting cousin, bookkeeping positions are often considered entry-level. Although being detail-oriented and having the ability to stay on task is key – you don’t have to be a CPA to be an accountant.
Interesting sound? Then read on to learn how to start your own bookkeeping business!
1. Have experience or learn bookkeeping.
Experience is important for many careers, but for accounting, experience isn’t a make-or-break deal. Of course, it certainly helps to work on financial transactions before, but it is not mandatory. If you have previous experience in small-scale accounting, that experience can make a huge difference when it comes to landing clients for your own business.
No experience? That’s okay too! You can still get started on this career path with relatively low startup costs. Check with your local community college to see if they offer a bookkeeping course, or look at courses available online. You may want to look for online courses specifically for different types of accounting software. Bookkeeper launch A great opportunity to start as a virtual bookkeeper: with 3 free classes, Ben Robinson offers to teach you what it takes to start bookkeeping from home and develop a successful business as you go!
2. Register as a business.
It’s important to do your business right from the start, especially when you’re managing someone else’s money. You must register your business with your state, either as a DBA (“doing business as”) or as a business entity type such as a limited liability company. When you absolutely can Run your bookkeeping business as a sole proprietorship, you protect yourself in the long run with an LLC. An LLC can help you reduce your personal liability if your business is sued.
Filing as a company usually involves fees and they vary from state to state. In most states, you can file for $150 or less. IncFile can help you file those documents.
3. Protect yourself.
When setting up an online bookkeeping business, you should also take steps to protect yourself. Keep a PO Box for any paper correspondence, so you can control who has access to your personal address. However, when choosing a registered agent for your business with the state, you are not allowed to list a PO Box – in that case, it can be helpful to retain the professional registered agent services of a company like Northwest Registered Agent to protect your privacy.
Because you are handling financial statements and other personal data, as an accountant, you should insure yourself and your company in the event of a mistake or disaster. You may wish to get business liability coverage, professional liability (errors and omissions) coverage, valuable papers and records coverage, data breach coverage, etc.
4. Decide who to serve
From Ben Robison Bookkeeper launch We had these tips for you:
“Specialize and work with one or two niche industries. Serve the businesses you love and are attracted to. You may have previous professional experience that can serve as a springboard to acquire new clients and serve them well.
“Don’t confine yourself to a specific geographical area. Serve clients anywhere in the world. To do that, you have to set up your business in a very specific way. And don’t do any work in a client’s office. It ties you geographically and your Kills earning potential.
“My final tip is to be selective about who you serve. Most people who start their own accounting business are very eager and will accept any client. Don’t make this mistake. Don’t be afraid to say no if the client doesn’t fit your personality. .You’ll be happy later!
5. Reassure your clients.
Even if you are a fully virtual bookkeeper, you still need to inspire confidence in your clients that their private and personal information is being handled with utmost security and confidentiality. When you are working from your home, you must assure your clients that you are proactively and carefully protecting their data. The best way to do this is to have an actual home office with a locking door (controlled access). If you don’t have the space for it, aim to have a desk with locking drawers where physical papers can be kept. Also, make sure your computer is password-protected, and that no one but you signs on to it.
You’ll also want to use great accounting tools. As Ben teaches his students, “The number one tool, and the hub of everything you do for your clients, is a bookkeeping software called FreshBooks.
“Based on the type of clients you serve, there are different tools you can use that will set you apart as a great accountant. One clear thing about running your own bookkeeping business is that the equipment required is not numerous and the costs are minimal.”
6. Set up a website.
Before you start contacting clients, make sure you have an attractive and professional website. You don’t have to be so tech-savvy or spend a lot of money to achieve this! Use a service like Wix or Squarespace to quickly create a good-looking site, or install WordPress on your personal website domain. WordPress is pretty easy to learn and comes with tons of clean, free layouts that you can modify to work for your business.
Your website should include a list of your services, some background on your experience and expertise, and at a minimum how to contact you.
7. Decide on a fee structure.
I know, I know, this can be one of the hardest steps in starting your business. How much do you charge? Do you charge too much and risk not landing clients? Or do you risk charging too little and overworking yourself because you’re afraid to value your time?
There are no hard and fast rules for what you should charge. My best recommendation is to read the art and decide accordingly. Salary.com tells us that the average hourly rate for bookkeepers in a traditional employee position is about $19.63. Ben teaches his students how to earn up to $80 an hour working from home as a bookkeeper.
Research what your local competitors or your virtual competitors are charging for their services; Then you have the information to start at the average price or try to undercut other professionals. Another good rule of thumb is: once you land your first client, what they’ll pay is now your minimum. Try to never work below that amount in the future, and employ thoughtful price increases over time to match your experience level and the value of your services.
8. Spend some time on marketing and advertising.
For personal marketing, you’ll definitely want to get some business cards printed as soon as possible. Networking can happen anywhere from a chamber of commerce meeting to the dentist’s office or school pickup line. Having business cards already made can help spread the word with information on how to find you. You might consider a brochure or flyer to share both in person and online.
If you only offer your accounting services virtually, you can employ targeted advertising to great effect Facebook has incredibly specific advertising services that allow you to target specific demographics and use your advertising budget efficiently. For free options, visit online forums where your target customers hang out: connect with them on Twitter or Instagram, or guest post on blogs they frequent. (You may even be able to buy ad space on those blogs.) Small businesses will be your bread and butter, so don’t neglect to reach out to them personally.
9. Continue to learn and expand your offerings.
As you establish a client base and become more comfortable with your bookkeeping business, continue your learning and consider offering more services. Beyond simple accounting, you can offer packages that include payroll for your clients, managing their business tax filings, receipts and inventory, helping new businesses with financial planning, and loan packages – a list of ways you can add value to your business. goes away Turn on. And any time you add a new service is a great opportunity to reevaluate your pricing structure and sell your clients on those new packages! Creating a stronger set of offers is also a solid way to attract new clients.
Ben’s final tips for us:
“Follow a proven system. Don’t try and blaze your own trail. There are systems out there that work. Find one that works for you and stick with it.”
What are you waiting for now? There’s no better time to check out Bookkeeper launch And start your next successful career.
Check out Kelly Perry’s Bookkeeper launch experience
Tell us a little about yourself. What was your motivation for joining Bookkeeper Launch?
A few months ago I was laid off from my job at home. I quickly discovered that finding another telecommuting job was nearly impossible. I’m a single mom of three boys, one of whom has special needs, so I really needed to find something that would give me a lot of flexibility with a full-time income. When I found Bookkeeping Business Blueprint, I knew it was exactly what I needed.
Please share your success due to the course. How soon were you able to find your first client and start working towards your income goals?
I have no bookkeeping experience and was worried about my ability to get clients. The classes focus just as much on the business aspects as on bookkeeping knowledge. From day one I was learning both bookkeeping skills and how those skills translated into my new business. Ben is a great teacher and knows how to break down content so anyone can learn it. I actually got my first client before the class ended. I actually didn’t even try. People who knew I had been laid off would ask me about my prospects of “finding a job” and I would tell them I was starting my own accounting business. Probably about half the people I told needed or knew someone who needed a bookkeeper, so I was already handing out my business cards. Then one day I got a call! That was the first client to gain the confidence to get my next client, which came a few weeks later. I project that I will reach my income goal within three months.
What advice would you give to someone considering the bookkeeping industry?
If you’re reading this, you already feel like this is something you can do, which means you can do it. I started the course during summer break with my three boys at home! Yay!! I thought about waiting until school started, but my bill wouldn’t wait, so I dove in. I am very happy. Don’t wait for “good times”. It will never come. The course can be completed on your schedule so just dive in Literally, every business in the world needs an accountant It could be me (or you)!
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