Starting a bookkeeping business isn’t as simple as hanging an “open” sign on your door. As you’ll find out, a little planning goes a long way. You’ll be doing a lot of thinking and planning ahead of time. Most of the previous steps were done for the sake of your business plan. For your small business, a plan might not be super intensive but it’s really important to have. You can’t do anything without having a business plan. Either shift the services you offer or widen the location you want to serve. If the market isn’t big enough for your planned services within the targeted location, you’ll have to make a change. This means doing market research and finding out the demand for your services. Do some market researchĪs you’re getting closer to launching, you’ll need to do some homework. It’s not uncommon to get started for less than a thousand dollars since the business doesn’t have a lot of required equipment. Beyond these transactions, there aren’t many more costs associated with bookkeeping. If you want to find an office to rent, that’s an additional expense. You’ll also need a space and a computer setup that lets you get work done. If you want to work from home, you’ll need to make sure you have acceptable phone and wireless plans to keep up. Speaking of upfront money, buying bookkeeping software is just part of the upfront money you’ll need. As you consider using different options, you’ll have to make sure you have the upfront money for the packages. QuickBooks, Hubdoc, Insightly, and are all examples. It’s easier to attract enterprise clients when you have a pre-built package for them.Īs you do some research, you’ll notice that there are a lot of bookkeeping programs to help you. You might build a package that improves your market position for certain customers. Packages will need to be well thought out. Will you focus on providing a low-cost option or an exceptionally high-quality service? This is also the time that you’ll determine what makes your business special and which niche you’re more likely to fill. The world of bookkeeping is pretty diverse, so you’ll need to pick a specialty. You’ll want to consider every service that you’ll offer. Put together a list of your services, along with pricing and packages This is also your opportunity to get clever with the name - should you want your brand to have a fun tone. If it’s too long, it won’t fully fit in your social media handle, email account, or Google’s results. People need to read it quickly and understand what you do. Shorter is sweeter when it comes to a name. “Steve’s Car Wash” is a pretty terrible name for a bookkeeper, wouldn’t you agree? Having the word “bookkeeper” in your official name will clear up any confusion and also help your company show up on Google when people search for a bookkeeping business. If not, it’s time to create a bookkeeping business name.Ĭhoose a name that has to do with bookkeeping. If you already did some brainstorming, you’re ahead of the curve. Follow along and you’ll have your operation up and running in no time. This section is all about how to start a bookkeeping business from scratch. Learning how to start a bookkeeping business: What to do? To run a business takes commitment and drive, not a prestigious degree. If you have experience working as a bookkeeper - plus a passion to learn or a love of finance - then you have everything you need. But you don’t need either of these to start your own bookkeeping business. When thinking about starting a bookkeeping business, many people get discouraged because they’re not a CPA and they don’t have a degree from an Ivy League school. What are the requirements to start a bookkeeping business? Most of the tools that you’ll be using are digital. Bookkeeping can be done strictly via email and over the phone. Depending on your business model, you might have very little interaction with your clients. Start a Free Trial of Constant Contact for Administrative and Business Support Services Can you run a bookkeeping business from home?Ībsolutely! The beauty of bookkeeping is that it can be done anywhere.
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