Not many people know that you can become a bookkeeper in less than a year with no experience, no accounting degree, and no fancy credentials.
It’s true!
As a bookkeeper, you’ll meticulously keep track of an enterprise’s finances. This helps ensure that their financial affairs don’t spiral out of control, which could be the death knell for a formerly thriving business.
If you have decent math skills and a passion for helping business owners stay on top of their finances, consider becoming a bookkeeper. As a company's in-house numbers cruncher, you'll organize financial data for businesses so that it's easier to understand and analyze. You'll keep track of receipts, expenses, purchases, and assets so taxes can be filed accurately and promptly.
These are just a few things you'll do if you embark on this exciting new career. If this sounds like something you'd like to do, here are the 7 steps to starting your very own bookkeeping business:
Table of Contents
Toggle1. Acquire the Skill
If you have zero bookkeeping experience, you'll need to acquire the skill before you can work with clients. For example, you can take a class at your local community college or check out library books on the subject.
Enrolling in The Expert Bookkeeping Business Launch is one of the best ways to acquire bookkeeping knowledge. We have tons of resources that'll help you start a highly profitable bookkeeping business ASAP.
2. Choose a Name
Your business name should reflect your brand identity. In other words, what sets you apart from all the other bookkeeping services out there.
Because your business name is the first impression potential clients have of your enterprise, you’ll need to put some thought into it. Think about what you want to communicate, such as your expertise or specialty. Come up with ten possible names and ask friends and relatives what they think.
Before making a final decision, ensure somebody else isn't already using it. You can do this by running possibilities through your state’s business name database.
3. Register Your Business
You need to register your enterprise with the state, so you can conduct business under a name other than your own. That's because when you form a company, the legal name defaults to the name of the person or entity that owns the business.
If you want a different name for your business than your own name, register as a DBA (“Doing Business As”) or a business entity such as a Limited Liability Company (LLC). An LLC helps minimize your personal liability if you ever get sued.
4. Choose a Niche
Every business needs someone to keep track of its finances, meaning every one of them is a potential client. However, you might want to narrow your focus by specializing in a specific industry.
By focusing on one specific sector, you can hone your experience in that particular area. That way, you can deliver better results for your clients.
5. Decide How Much to Charge
It can be challenging to decide how much to charge for your services. Charge too much, and clients will run into the waiting arms of competitors. Charge too little, and you'll work too hard for the money you'll make.
However, there are things you can do to make the process easier. For example, researching what the competition charges can help you establish a fee structure. You can also talk to businesses that use bookkeeping services to find out how much they’re currently paying. Meet with bookkeepers in your network and ask them about their fee structure.
The best way to figure out how much to charge is by enrolling in The Expert Bookkeeper Business Launch. That's because when you do, you'll get a pricing tool that'll make the decision easy.
6. Create a Business Plan
A business plan helps you clarify your business goals, so you can zero in on your competitive advantage over similar businesses. It includes the following:
- Executive summary
- Overview
- Market/competitive analysis
- Service description
- Marketing plan
- Financial projections
According to a Journal of Management Studies study, entrepreneurs who draft business plans grow 30% faster than those that don't. Another study conducted by Small Business Economics found that those having a business plan are 152% more likely to start their business instead of merely daydreaming about it.
You might be dragging your heels because creating a business plan sounds complicated and time-consuming. Nothing could be further from the truth. In fact, you could write a one-page business plan that won't take longer than 30 minutes.
7. Market Your Business with a Website
These days, a website should be the cornerstone of every business's marketing efforts. If you use a service such as Squarespace or Wix, it doesn't have to cost a lot of money.
Create an opt-in that allows visitors to join your list, and you’ll be able to send regular emails that can transform mildly interested clients into raving fans of your business. Your homepage can powerfully showcase your Unique Selling Proposition (USP). In other words, what makes you stand out in a crowded marketplace?
A daily blog on your site allows prospective clients to get to know you and your business. Also, keeping your blog current can boost search ratings, which is crucial if you want clients to find you.
Google Analytics lets you see how visitors interact with your site and where they come from. Use this information to create hyper-focused marketing to reach your audience where they are.
One of the best things about The Expert Bookkeeper Business Launch is that you get customizable marketing materials that take much of the effort out of attracting your ideal client.
Achieve Your Dream of Financial Independence with Your Own Bookkeeping Business
By enrolling in The Expert Bookkeeper Business Launch, you won’t have to waste your energy trying to figure out how to build a profitable bookkeeping business. That’s because I’ve done all the hard work for you by starting a successful business of this type myself.
And now, I want to pass my knowledge to you. The course lets you pick my brain as I tell you what works and what doesn't.
Because it's a virtual business, you won't have to limit yourself to your tiny corner of the world. This means your client base is potentially the entire planet—which gives you unlimited income potential.
