4 Skills You Need For Your Start Up Bookkeeping Business! Yep That’s It!

By | August 31, 2017

You have landed on this post because you are giving some thought about potentially starting up your own bookkeeping business from home. So I thought Iman working from home on his laptop would create this article explaining the 4 things you need for your start up bookkeeping business.

Of course there are a lot of different aspects and variations of exactly what you will be doing, but we can sum up your new SUCCESSFUL business venture with the following 4 categories:

1. Gathering Facts

The first thing you will be doing is simply gathering facts. When doing this for your bookkeeping business, you need to act like you are a reporter or a detective. The only difference being, these are financial facts that you will be dealing with. Then you will simply record all the financial transactions as they come in from that particular business client.

You’re going to record and classify these transactions. By this I mean putting them in the right categories: utilities, house payment, groceries… magnifying glass over the factsthe only difference is that you will be doing it for a business. And then, finally, you’re going to be reconciling that data.

When I talk about reconciling, you are simply going to make sure that everything is perfect. You need to make sure that the numbers are right! If your client wrote a check for $100, you need to double check that it didn’t clear for a $1,000… make sense?

2. Reporting

So after you have done all of your fact gathering, the next step is to do the reporting. This is simply putting all the data into financial statements.

There are three different types of financial statements:

  • Balance Sheets– These show what the business owner owes (liabilities), pen hovering over financial statementwhat they own (assets) and what is left over (equity).
  • Income StatementsThese simply show the income coming into the business followed by the expenses. So when all is said and done, you end up with your clients net profit.
  • Statement of Cash Flow– This basically shows the business owner where all the cash has gone.

3. Analyze Information

Understanding how the three above financial statements work is where you are going to separate yourself from your competition and add tons and tons of value as a bookkeeper. You are able to analyze these documents, then you are going to be on the fast track to running a very successful bookkeeping business.

This is where business owners fall off the wagon. They simply don’t understand financial statements. Put your focus on learning the ins and out of them and you will be set.

What you will want to do then is to teach your client exactly how they work as well. After all, don’t you think that it is important for your clients to truly understand how they are spending their own money? In return, they will truly appreciate you as their bookkeeper and the trust and respect for you will grow by leaps and bounds

You can bet that you will then see new opportunities and leads coming in simply from word of mouth directly from your clients.

4. Be There For Your Client

I kind of hinted it what the fourth one is all about but allow me to elaborate a bit. It is very important to be there for your client. This doesn’tprofessional offering help to married couple mean that you have to know everything, and if there was something that you were not sure about you need to let them know that you can find the answer by reaching out to others.

All you really need to do is listen. Many times, business owners want to know that they are being heard. Just take a vested interest in their business and you will have already won.

Show them that you have all the character traits needed as a reliable bookkeeper.

There You Have It… Bookkeeping In A Nutshell

Let me elaborate in the above statement. SUCCESSFUL bookkeeping in a nutshell! Any bookkeeper can easily learn the first two simply by studying. The last two will be what separates you from other bookkeepers out there and will give you a thriving bookkeeping business.

Also, by being a pro with analyzing information and simply being there for them, you tend to be paid very well for your extra efforts. The value that you will be providing will pay you back ten fold!

So What Now? How Do You Become A Bookkeeper?

I have searched and searched for ways to become a bookkeeper online. Sure, you can do the typical and numerous colleges that provide online classes but I can assure you that your not going to get everything you need unless you obtain both an Accounting and Business degree. Even then, you bored college studentare going to be lacking hands on experience.

On top of that, you are probably looking at least a year of classes along with classes that you don’t even need to take but are forced to as part of the curriculum. If this is the way you choose to go about learning bookkeeping and marketing there is absolutely nothing wrong with that.

But, in my humble opinion, there is now a better way! Do yourself a favor and check out my #1 recommended bookkeeping course online to see a much better option. Not only are you going to learn everything about bookkeeping including effectively analyzing information and being there for your client, but you are also going to learn how to market your services online!

In addition, there is no need to take classes for a year. Instead, this course is designed to be gone through in approximately 10 weeks!

I hope this article provides you with a little insight on was it takes to run a successful bookkeeping business. Please don’t hesitate to drop any questions, comments or concerns in the comments below and I will get back to you ASAP!

 

6 thoughts on “4 Skills You Need For Your Start Up Bookkeeping Business! Yep That’s It!

  1. Marlaine

    I’ve definitely considered starting up a book-keeping business from home, so this post was really interesting! The actual job doesn’t scare me, as I’m a numbers person, detail oriented… AND I’ve taken a beginner book-keeping course already and found the concepts easy to grasp. What worries me is how I’d find clients! How do you find companies or organizations who’ll trust you with the finances of their businesses… especially when you have ZERO experience on your resume? Someone will at some point just have to take a risk with me? Or should I be focusing on getting a diploma – like from your online course, or at a community college – so I’d have some credentials?
    Thanks!

    Reply
    1. Nathan Glick Post author

      Learning bookkeeping is only half of the course, the other half is geared towards marketing your business and how to obtain clients. With the certifications that you can obtain within Bookkeeper Business Launch along with the marketing techniques within it, you will realize that in many ways you are more valuable to your clients compared to some large bookkeeping firm that only focuses on your clients numbers. Ben teaches you how to add value to your clients by going above and beyond to add that value to separate you from your competition. You are also able to become certified in a few different ways such as Quickbooks and Xero (you can get your Xero certification for free as a BBL student).

      Reply
  2. ben

    Hey I’ve been thinking about various businesses that I can start from home. I got interested in bookkeeping too. Sounds great. My question is – if I have no experience, no degree in bookkeeping or accounting or anything, is it possible to become successful by taking the course that you mention? Thanks.

    Reply
    1. Nathan Glick Post author

      It is VERY possible! In fact, Bookkeeper Business Launch is catered towards not having any previous bookkeeping experience. Included in the course, you are able to become certified in Quickbooks as well is Xero which gives you the tools to be successful.

      Reply
  3. Marius

    As an entrepreneur, I am always scouring the internet, and the world, for new opportunities. This is really unique. There is so much of the same old out there that something new is a rare gem. I think you have opened up the door to a whole new opportunity.

    Thank you for a great article, appreciate the knowledge provided.

    Reply
    1. Nathan Glick Post author

      No problem Marius! Bookkeeping does seem to be a newer way to earn from home. With technology being what it is these days it makes it very easy for you to be s successful bookkeeper from the privacy of your own home.

      Reply

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