Most small business owners don’t want to do the bookkeeping themselves. They may not even know how to do it. This is where your bookkeeping business comes in. By offering your services as a professional bookkeeper, you’re giving these businesses something they need and value, and helping them save time on tasks they don’t want to deal with themselves.
Here are eight steps for getting started as fast as possible:
Choose a business structure
Choose a business structure that fits your needs. It’s important to understand the different forms of business structure and how they affect you as an individual, including:
- corporation (C-corporation)
- partnership (general or limited)
- sole proprietorship
- limited liability company (LLC)
- limited liability partnership (LLP)
Register your bookkeeping business
Registering your business with the state is typically the first step to starting Finance Services. To get started, you’ll need to set up an LLC or corporation in your state. This is a formal way of saying that you will be treated as a separate entity from yourself and your finances. You may also need to register with the IRS as a sole proprietor.
Determine your target market for bookkeeping business
To determine your target market, it’s important to first define what a target market is. A target market is a group of people who share similar interests, needs, and characteristics. In other words, they’re all potential customers for your bookkeeping business.
As you start identifying your target market, consider the following questions:* Who will buy your service? What do they want or need? How old are they, and what are their income levels?
Training can be done online, in person, in a classroom, and more. Many people who want to start a bookkeeping business without previous experience will choose to get training first before they dive into the business. There’s no one right way to learn how to become a bookkeeper, but there are plenty of options out there. Here are some ways you can get trained:
- Online courses and apps
- Books on accounting or finance
- Mentors and apprenticeships
Develop your brand
When people hear about you for the first time, what do they think? Will they have a positive impression of your business? Or will they just see another bookkeeping company that doesn’t stand out from the crowd?
Come up with Marketing Techniques for promoting your brand. Your brand image is important because it affects everything from how customers perceive your services to how much revenue you generate.
Create a business plan
A business plan is a document that helps you make decisions about how you want to run your bookkeeping business. Your business plan will make it easier for other people to understand what type of services you offer, and why they should choose your company over another.
A good way to start the process of creating your own bookkeeping business is by writing down everything that you know about being a bookkeeper, including any relevant skills and experience that could help grow the company. This will help define who you are as an individual, as well as what makes up your ideal clientele.
Exploit free resources
You can start a bookkeeping business and start providing Financial Services with no experience and no money. The first thing to remember is that you don’t need expensive software or equipment to get started. There are plenty of free resources available for you to use, such as:
- Quickbooks (for desktop or online)
- Google Drive (for cloud storage)
- Dropbox (another cloud storage service)
Becoming a bookkeeper can feel daunting at first, but follow these steps and you’ll be well on your way. Remember to set aside time to plan your business before you start offering your business service.