Why should you become a bookkeeper? The answer may seem obvious but stop for a second and really think about why you should consider a bookkeeping business of your own. I suppose it’s even possible that you don’t even know why at this point, you may just be looking for something at this point.
There is nothing wrong with that approach either. If you aren’t sure what you want to do yet but you have landed here, then allow me the opportunity to share with you why starting a bookkeeping business can be an excellent option for you.
Starting your own bookkeeping business may be something that you have never considered before now. After all, chances are you know nothing about running a business.
There is even a good chance that you know nothing about bookkeeping. To add to that, there is nothing special or sexy about bookkeeping. It is a behind-the-scenes type of profession and if you are simply a bookkeeper working for someone else you make a decent income.
Where things become intriguing is when you begin to hear about what is possible by having your very own bookkeeping business. The great thing is that you don’t even have to know anything about bookkeeping, marketing, or business to make it happen but I will get into that in a couple of minutes so bear with me here.
Why Become A Bookkeeper In 2022?
What are the benefits of starting this type of business? Allow me to dive in and give you some positives of becoming a bookkeeper business owner.
Probably the top question you have is wondering about the pay potential, am I right? If you are already a bookkeeper you are probably making somewhere in the ballpark of about $41,000 a year (this is the average yearly income).
What about if you had your own business? How does $80 an hour, on average, sound to you? Once you have an established client, you can expect to spend about 3-4 hours per month working with that particular client.
Doing a bit of quick math, that is $320 per client per month for only 3-4 hours of work. 10 clients… $3,200 a month. 20 clients… $6,400 a month. If you figure how many hours that is, with 20 clients you are going to spend roughly 60-80 hours per month doing actual work!
That means you can earn $76,800 per year with 20 clients and average 15-20 hour work weeks. What happens with 30 or 40 clients? What happens if you get to the point where you start hiring other bookkeepers? Not too shabby if you ask me.
These numbers are just an example to show you the potential of what is possible. These are simply averages, obviously, these are going to vary depending on the client’s situation and complexity. In saying that, I have seen bookkeepers earn much more than $80 an hour as well.
The income potential is just the tip of the iceberg. What else can we come up with as to why a bookkeeping business is the best home business option for you?
Work From Home
Honestly, who wouldn’t want to work from the comfort of their own home? No more waking up to an alarm clock. No more daily commutes. Being able to spend more time with your family.
Does the thought of becoming your own boss excite you or scare you to death? This is actually an important question to ask yourself because unfortunately, not everyone is meant to run their own business.
You are the only one that is going to hold yourself accountable so being able to do the things necessary to be successful is a must. No one is going to make sure you are on the right track. This is up to you and you alone.
Make sure you take some time and really think about if a bookkeeping business may be a good fit for you. Need some help? Check out the 7 traits that make for a great bookkeeper and see where you stand.
When all is said and done though, who doesn’t want to be their own boss? How cool would that be!
What better reward is there than being able to help small businesses, not only by doing their books for them but more importantly, helping them improve their bottom lines.
To accomplish this, you need to learn not just how to do bookkeeping but how to become an AMAZING bookkeeper. By learning these skills, your clients will greatly appreciate your services and, in return, will help grow your business faster.
What happens when you provide top-notch services to your clients? They tell others! By making a conscious effort of going above and beyond you will reap the rewards financially and emotionally as well.
With just a little effort on your part, you would be amazed how simple it can be to drastically increase a business’s profit margins. There are very few things that make you feel better about yourself than being able to provide this type of service to your clients.
The crazy thing is that most bookkeepers won’t bother doing this. It’s a get the books done for the month and move on type of attitude. This is not you! You want to be the best and you are going to be rewarded for learning how to be the best!
Demand Is On The Rise
Quick fact for you… every single business out there is required by law to have their books done. Small businesses can go about this one of two ways.
They can choose to do their books themselves (this is usually a disaster) or they can find a bookkeeper to do them. In a majority of cases, small business owners want nothing to do with doing their own books. They simply don’t have the time or they don’t want to deal with it.
This is where you come in. We all know how fast-paced the world is becoming. Time to do the books on a monthly basis simply isn’t an option for most businesses.
More and more businesses are now reaching out to take this worry off of their hands. But what about the bookkeeping market becoming oversaturated? I will tackle this in a couple of different ways.
First of all, if you Google “how many small businesses are in the US” what would you guess is the answer you would get? Well, I just happened to do this so you don’t have to and the answer is 31.7 million small businesses! Trust me when I say that there is more than enough opportunity out there.
The second point that I wanted to make is the fact that there are a lot of businesses out there that are unhappy with their bookkeeper. Remember when I said that most bookkeepers are simply number crunchers? They do nothing to improve those businesses they serve and in most cases, there are no relationships built with them either.
To go along with that point, a lot of bookkeepers simply aren’t very good at what they do. This is where you have countless opportunities to swoop in and show these business owners what a real bookkeeper can do for them!
Want To Learn More About Bookkeeping?
These are just a few of the main points that I wanted to touch on when asking yourself, why become a bookkeeper and start your own business?
There are many other awesome points when considering bookkeeping to be a career path for you. Compared to other businesses, startup costs are extremely low and you don’t need a lick of experience to do it.
If this is something that sounds intriguing and would like to look into this career opportunity further then I want you to head on over to check out my full review of the best way to learn bookkeeping and how to start and run your very own bookkeeping business.
Here you will find a breakdown of the course that you can do from the comfort of your own home and at your own pace.
Better yet, you will have the chance to sign up for a series of FREE training videos that go into great detail on what having your own bookkeeping business is all about so that you can make an educated decision on whether this is for you or not.
Head on over to my full review to check out all the details on this amazing class.
I wish you all the best in whatever you do and if you have any questions, comments or concerns feel free to drop them below in the comments and I will be sure to get back to you as soon as possible.