You definitely have what it takes to start a bookkeeping business.
You have a reputation for being thorough, dependable and accurate. You enjoy working with numbers and have considerable financial experience. You definitely have what it takes to start a bookkeeping business. And the time is right. According to the U.S. Department of Labor, the demand for bookkeepers is expected to increase significantly through 2018. Also, more companies are outsourcing their bookkeeping departments to independent firms.
Instructions
1. Complete the necessary paperwork. You will need a state business license for tax purposes. Register for your tax identification number at state, local and federal levels. Call the local planning department to find out about the zoning rules at your business location. If you require any assistance, contact the nearest office of the U.S. Small Business Administration (SBA) or visit the agency online.
2. Set up your office. If you are home-based, designate a separate room as your client/work area. You will need a desk, computer and file cabinet. Invest in a dedicated business telephone line with a digital answering machine. Subscribe to the telephone company's voice-mail service as a backup. None of your clients will ever get a busy signal; the voice mail automatically kicks in whenever you are on the telephone.
3. Invest in continuing education. According to the U.S. Department of Labor, certified bookkeepers (CBs) will have the best job prospects. Join the American Institute of Professional Bookkeepers (AIPB) and receive the monthly "General Ledger" newsletter with up-to-date information on bookkeeping, payroll, software and taxes. You also have access to free accounting, payroll help and discounts on professional liability insurance.
4. Market your business. Use a variety of methods to promote your bookkeeping service, including phone directories, business cards and the Internet. For example, place an advertisement in the local phone directory. Many directories offer deals to first-time advertisers. Buy the biggest advertisement you can realistically afford. Hire a graphic artist and website designer to create a professional-looking website, business cards and brochures. Invest in magnetic business cards; people like to post these on their refrigerators.
5. Build up your client base. Visit at least one new strip mall or industrial-business park per week and drop off your business cards and brochures at each business. Respond to any classified ads for a part-time bookkeeper. Attend breakfast meetings, workshops, fund raisers and other networking events in your community. Always carry your business cards and be prepared to offer your services.
6. Add a few personal touches. If you have good communication skills, create and send out a quarterly newsletter containing money-saving and tax tips. If you have an interest in the arts, conduct workshops and seminars for local arts associations. You could specialize in bookkeeping for writers, artists, photographers and other creative entrepreneurs. Offer to teach an evening course at a local high school or college.
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