10 simple strategies for starting a bookkeeping business

The first few months after starting a bookkeeping business are critical. There’s so much to get organized, from branding to your workflow and on to pricing strategies, it can feel like a bit of a frenzy.

 

You may want to rush to start connecting with real people who need help managing finances at their business as early as possible. That’s what starting a bookkeeping business is all about right? And, that’s where the money will come from.

 

But building out long term success starts with a firm foundation. Starting a bookkeeping business can set you up for a more comfortable lifestyle where you choose your hours and are the master of your own success. Here are 10 strategies for a successful launch:

 

1. Develop a business plan

Don’t get too far ahead of yourself in the whirlwind of responsibilities that come up when starting a bookkeeping business. Create a comprehensive business plan that outlines your business goals, target market, marketing strategy, pricing, and financial projections. Identify what level of work you’ll need to put in to reach the goals you have for your lifestyle.

 

That will look different for every person, but you need to take the time to meditate on how you want your bookkeeping business to serve you. Do you want to dive in and have your business be your main source of income? Are you hoping to work with a few clients as a side hustle to supplement your income?

 

Bookkeepers create financial statements and other reports each month that business owners use to see where the company is generating profits. Your workload will turnover each month, so think hard about how many clients you want to work with to suit your lifestyle.

 

Universal Accounting Center has developed a turn-key model for people to use when starting a bookkeeping business. It’s designed to make things simple — all you have to do is put the time in and “turn the key”. Take the guesswork out of developing your business plan and check out the Turnkey Business Plan for free online.

 

2. Get certified

Whether you’ve worked as a bookkeeper before or not, pursuing additional training will give you confidence in handling the day-to-day hiccups that come with working with clients.

 

Obtaining the skills you need is easier than ever online. Universal Accounting Center offers video courses and workbooks to teach you everything you need to know to start a bookkeeping business in as little as 60 days.

 

The Professional Bookkeeper certification establishes trust with your clients and verifies your skills in the industry. There are also courses on tax planning and how to offer consulting services to CFOs that can take your bookkeeping business to a new level.

 

3. Identify your niche

Determine your target market and focus on a specific area of tax accounting where you can specialize and differentiate yourself from competitors. Without identifying a niche, a new bookkeeping business may struggle to differentiate itself from competitors and attract clients. This could result in a lack of business and slow growth.

 

Start with what you know and who you know. Every business needs accounting services and chances are you know someone who runs their own business. It’s likely they know someone who can use your services as well. Each industry will have its own quirks and nuances.

 

4. Build a professional network:

This plays into identifying your niche, but you need to know, or get to know, other professionals in the accounting industry to help you through any bumps in the road and to refer clients to you as you build your skills.

 

Universal Accounting Center connects students with seasoned veterans of the accounting industry and enrolling gives you access to a Facebook page with hundreds of pros who share their insights in the group each day.

 

5. Invest in marketing

Develop a marketing strategy that targets your ideal client and includes a strong online presence, advertising, social media marketing, and networking events. Don’t be afraid to splash some cash here, especially in creating your branding images and social media pages.

 

You only get one first impression with your clients and mediocre marketing can kill future leads. It may be a good idea to hire a graphic designer or a marketing professional to set you up for success.

 

6. Price your services competitively

This is another area where it’s great to have some support and Universal Accounting Center specializes in helping folks price their services to attract clients but make it worth your while financially.

 

 

7. Leverage technology

Utilize technology to streamline your workflow, automate processes, and improve client communication and service delivery. Without utilizing technology to streamline workflows and improve client communication, a new tax business may struggle to deliver high-quality services efficiently. This could result in a lack of efficiency, decreased client satisfaction, and limited scalability.

 

8. Develop a strong onboarding process

Depending on the size of the bookkeeping business you want to start, you may consider adding employees as you grow. Think about how you want to integrate people into your team and build some infrastructure to make that process run smooth as butter.

 

9. Focus on exceptional customer service

No matter how great your services might be, how you treat people will be a big predictor of your bookkeeping business’ success. Make sure you’re turning your reports in on time and communicating proactively.

 

It’s not uncommon to see a client struggle to explain what they need help with given how hectic it can be to own a business. Ensure you’re on the same page and give them space to show you what they need from you.

 

 

10. Plan for growth

Plan for future growth by developing scalable business processes, building a team, and investing in ongoing professional development and education for yourself and your employees.

 

Begin with the end in mind. Visualize how far you want to take your business and what steps you’ll need to take to get there. Repeat this process often to keep your goals fresh on your mind.

 

The Universal Solution

Starting a bookkeeping business can feel so overwhelming, especially if you’re doing it all on your own. Universal Accounting Center has helped people build successful accounting firms for more than four decades. The training courses UAC provides break the processes of becoming certified, marketing and retaining clients into digestible videos that will have you on your way to success in no time.

 

Build the future you want for your self and your bookkeeping business today by talking with one of Universal Accounting Center’s experts today. Call 877-801-8080 or schedule a time when it’s convenient for you HERE.

To delegate or not to delegate? When to seek help at a small business accounting firm

When a person starts a small business accounting firm, sometimes it feels like they’re juggling sticks that are on fire. There’s always too much to do for just one person, but you may be scared your employees will get burned if you hand off too much responsibility.

 

But, boy, can the fire get hot if you’re juggling too much! At Universal Accounting School, we’ve seen the toll that taking on too much leaves on business owners as we’ve helped them start small business accounting firms. Our team of coaches, many of whom started successful firms of their own, struggled with the pressure of doing it all.

 

Don’t get left holding on to the heat. Owners who struggle to delegate tasks and outsource work may feel like they are unable to take a break. This can lead to feelings of burnout and a lack of work-life balance, impacting their physical and mental health. Here are some ways to build trust with your team and pass on key tasks with confidence.

 

1. Don’t micromanage

It’s hard for employees to build confidence at your small business accounting firm if you’re always checking over their shoulder to see how they’re doing. They’ll work more slowly if they feel like  they need their boss to sign off on everything they do and worse, they may feel frozen if they’re stuck on a task and do nothing if you’re too busy to guide them.

 

Micromanaging can build a frustrating dynamic for your employees and showing your confidence in them by leaving them alone to work on an assigned task (even if they don’t perform it exactly as you expected them to) will strengthen your relationship so you can trust them with more.

 

2. Train and retrain

We all know the old adage about teaching a man to fish versus giving a man a fish, but in the world of small business accounting firms, sometimes CEOs feel like it’s just simpler to do the fishing themselves.

 

You can’t always train everyone on everything they need to know, but setting time aside to ensure that employees have the training they need to carry out their responsibilities will make things run smoother over the long run. Don’t be afraid to revisit training to clearly lay out your expectations for specific tasks. Your employees are juggling a lot, just like you, and a simple reminder of a training can be all it takes to make a project shine.

 

3. Empower employees

This suggestion is dependent on the amount of trust you can build with your employees. How can you empower them with more to handle if you don’t trust their performance in the first place? A great way to build trust is by recognizing and rewarding good performance. Invest in your employees’ success and they’ll be more likely to invest in yours.

 

Empowering your employees to take ownership of their work and make their own decisions can lead to innovations and growth that you never would have imagined. Build that trust for employees to go off script and be creative without potential backlash from the top.

 

4. Address poor performance with empathy

As much as we’d like to imagine that delegating tasks will always lead to a smoother operation at your small business accounting firm, eventually you’ll run into a situation where an employee lets you down on something you asked them to do. Remember, the goal is to make your life and their life easier by sharing responsibility, not for you to pile on if they’re already frustrated with their performance. That will only make it harder to work together in the future.

 

Take time to empathize with your employee and discuss solutions for the next opportunity you give them. Don’t berate them or belittle them for their slip up in front of other employees. You’ll build more office morale, and thus more confidence in handling the tasks you delegate, by treating your employees with respect and giving them specific strategies for improving when they slip up. No one has an infinite leash of course, but you’re more likely to get an employee back on track if you understand where they’re coming from.

 

5. Prioritize and outline

As you weigh what you need to delegate at your small business accounting firm, consider how you’ll lay out these tasks for your employees. If you’re going to give them new responsibilities, be sure to make it clear where that new ask fits in as a priority with the work they’re already doing. The point of delegating is not to pass off your burnout onto your employees by giving them to handle. It’s to create a healthy and uplifting environment for everyone who works at your firm.

 

Don’t leave any space for confusion when you ask an employee to take on a new assignment. Let them know what they should prioritize finishing before jumping on what you’ve asked them, or if you need them to drop everything and get to work. If you don’t, you may leave them feeling overwhelmed and confused.

 

The Universal Solution

Universal Accounting School has helped small business accounting firm owners get the most out of their companies since 1979. Universal specifically designs its online video instruction to help CEOs make their businesses sustainable without constant oversight from the top. Learn more on how you can build a better work-life balance for yourself by calling 877-801-8080 today, or schedule a time to discuss your future online by clicking here.

Avoid these 10 slip ups when marketing an accounting firm

Marketing an accounting firm has proven to be one of the most critical tasks our students have encountered when getting their business up and running, and it’s also one of the easiest things to get wrong.

 

Since 1979, Universal Accounting School has helped business owners through the frustration and overwhelming pressure of connecting with the clients they’re looking for. It’s one of the most intimidating parts of starting an accounting business, but Universal’s proven strategies for generating and retaining leads make it all more manageable.

 

Without a carefully developed marketing strategy, accountants may be left with heaps of training and skills with no real way to profit off of them. Targeted marketing for an accounting firm can be a catalyst to success in the early stages of the business. Here are 10 pitfalls to avoid:

1. Failing to invest in marketing

Some CEO’s may view marketing as an unnecessary expense, leading to a lack of resources and attention devoted to marketing their services. Don’t leave marketing sitting on the back burner. Set aside time to develop and revise your marketing strategy, and don’t be afraid to put some money into it. It will pay dividends down the road as your brand becomes more recognizable.

 

This is a scenario where it’s easy to put the cart before the horse. No matter how effective your services are, your business will be pulled forward by the impression your marketing makes on people who encounter it on social media or out in the world.

2. Inconsistent messaging

Without a clear and consistent message, CEO’s may struggle to effectively communicate the value of their services to potential clients. When starting an accounting business, we can sometimes fall into the trap of focusing on defining our purpose and not enough on how we’ll help the people who we work with.

 

A great place to start is to focus on the feeling you hope to elicit in people as they encounter your business in the wild. Every resource you use when marketing an accounting firm, from social media to billboards, should pull in the same emotional direction. That will build your reputation in a client’s mind with each engagement.

3. Not defining target clients

If you don’t take time to define your ideal client, it can be easy to feel like you’re sending your marketing out into a void. Visualizing an avatar for your ideal client, and being as specific as possible with age, income, industry and the like in that visualization, makes it easier for you to empathize with your client and tailor your messaging to suit their needs.

 

Write your marketing strategy for one specific person and see how it transforms what you create.

4. Poor branding when marketing an accounting firm

CEO’s may fail to establish a strong brand that resonates with potential clients, leading to a lack of differentiation in the market. You need consistent branding that sets you apart from your competition, and a good approach to being unique is to focus on what your clients need most from you. 

 

We respect the ingenuity of folks who build their own logo in about 15 minutes on Microsoft Paint or whatever, but you may consider hiring a graphic designer to offer fresh perspective on branding you’ve already created or to build you something from the ground up.

5. Lack of market research

Market research helps businesses identify their target audience, understand their needs and preferences, and determine how to position their products or services in the market. Without market research, an accounting firm may struggle to understand their potential clients’ needs and preferences, which can lead to ineffective marketing efforts.

 

For example, they may spend resources advertising their services to the wrong audience or promoting services that are not in demand. As a result, they may struggle to attract new clients, and their business growth may be limited.

 

In addition, without market research, an accounting firm may miss out on valuable opportunities to differentiate themselves from competitors. They may not be aware of their competitors’ strengths and weaknesses, and they may not understand how they can offer unique value to their clients. This can result in a lack of differentiation in the market, making it difficult for potential clients to distinguish them from their competitors.

 

Market research can also help accounting firms determine how to price their services competitively. Without a good understanding of the market and their competition, they may struggle to determine the right pricing strategy for their services. They may underprice their services, leading to lower profits, or overprice their services, making it difficult to attract new clients.

 

6. Overreliance on referrals

Getting a recommendation from a friend or colleague is a great way to start long term relationships with your clients, but it’s a well that can dry up quickly. Word of mouth is crucial to any business’ success, especially at the beginning, but CEOs need to think about reaching people beyond their circle of acquaintances as soon as possible to avoid missing any growth opportunities.

 

7. Poor online presence

This is a pretty straight forward point, but in the digital world we live in today, marketing an accounting firm really starts online. If your website is unappealing or difficult to navigate, you’ll struggle to connect with new clients and retain clients who have to use your confusing webpage.

 

Social media is an important avenue for advertising as well. Set goals for how often you’ll post on LinkedIn, Facebook and other platforms where your audience hangs out online. Don’t be afraid to try different types of content as well, as videos are especially attractive to most social media algorithms.

 

8. Failure to track results

What is success when marketing an accounting firm if you never take the time to measure it? Without regular tracking and analysis of marketing results, CEO’s may struggle to identify areas for improvement and make data-driven decisions.

 

Set up regular meetings to review engagement with your brand on social media and review what’s working and what isn’t with your current strategy.

9. Lack of expertise

It’s ok if you feel like you are an expert in the world of marketing, but you need some experts in your corner to build a successful marketing strategy. Consider hiring a consulting firm, or get the skills you need yourself with an online training program like Universal Accounting Center.

 

With Universal Accounting Center, you’ll not only get the instruction you need to begin marketing an accounting firm, but you’ll be assigned a coach who will evaluate and help you tweak your marketing to reach the right people at the right time.

 

10. Failure to adapt to changing trends

CEO’s may fail to stay up-to-date with changing marketing trends and technologies, leading to missed opportunities to reach potential clients and stay ahead of the competition. The marketing game is always changing with platforms for putting your services out there rising and falling in popularity constantly.

 

If you need help marketing an accounting firm, Universal Accounting can give you the support and techniques you need to stand out from the competition. Start tuning up your marketing strategy today by calling 877-801-8080 or, set a time to discuss how Universal Accounting will help you reach your goals online when it’s convenient for you.

Wondering how to start an accounting business? Here’s Universal Accounting’s free tools

Wait, free tools to start an accounting business? Like, free, $0.00, no fee, free? Yes, you can jump on the path to owning an accounting business today with Universal Accounting School’s Turnkey Business Plan.

 

Here’s a preview of what you’ll learn from Universal Accounting School President Roger Knecht in this free video course. Did we mention it was free?

The Four Pillar Process to Starting an Accounting Business

Pillar 1: The Business Plan

Like anything in life, you’ll never get to where you want to be without some planning. In this course, you’ll learn all of the basics you need to know to get started, even if you’ve never ran a business before in your life. Knecht outlines your options to start an accounting business, whether you want to establish a small firm or work as a sole practitioner from home – it’s all covered. You’ll also dive into the important metrics you’ll use to monitor and ensure things move in the right direction at your firm.

 

Pillar 2: How to Price

Here, Knecht explains the different forms of billing you can offer clients, from hourly to value-based and everything in-between, as well as pros & cons to give you the full picture. This is where you’ll learn the most profitable and professional way to price your services.

 

Pillar 3: Marketing and Sales

This course is all about how to position yourself as a valued advisor – not just another service provider. Knecht walks you through how to stay ‘Top-of-Mind’ with your clients without appearing ‘spammy’ or desperate! He also explains the ​Learn the ‘Ladder’ approach to sales – providing tiers for your clients, leading to long lasting relationships.

 

Pillar 4: Mapping It All Out

The last pillar is where the first three come together into an achievable action plan that you can begin putting into practice immediately. Knecht gives you the five main principles of running a profitable accounting practice with competence and confidence. Anyone can do this.

 

But with Universal Accounting School, you don’t have to do it alone. Sign up for the course online, and know that Universal’s coaches will give you the training and support you need to start an accounting business that will be successful and sustainable beyond your initial takeoff. For quick questions and answers, call 877-801-8080 to learn more about Universal Accounting School’s programs.

 

 

Developing the Skills to Start an Accounting Business

OK, so if you’re still here and not watching the free courses (FREE), let’s dive in further to what it takes to get an accounting business started and show you how Universal Accounting School will help you along your way. To start an accounting business, you need to have a strong foundation in accounting principles and practices. While you don’t necessarily need a degree in accounting to start your own business, you do need to have a solid understanding, especially of the basics of bookkeeping.

 

Universal Accounting School’s video courses can help you develop the necessary skills to start and run an accounting business. The courses cover vital areas of small business accounting, tax preparation, and business fundamentals, which are all essential for building a successful accounting practice.

 

Professional Bookkeeper (PB) and QuickBooks Specialist (QS) courses are also available, which can provide you with the confidence and competence to offer quality bookkeeping and accounting services. Additionally, the QBO Bootcamp covers QuickBooks Online, which is a popular accounting software used by many small businesses. UAS also offers free e-books to get your training started.

Building a Support Network

Starting an accounting business can be challenging, but having a strong support network can make a big difference. A support network can include mentors, fellow entrepreneurs, and industry associations. Universal Accounting School provides ongoing support to its students, including access to a network of professionals in the accounting industry. The school also offers ongoing training and support to help students build and grow their accounting businesses.

 

You can also join Universal Accounting’s Facebook group to get tips from professionals in the field. But there’s nothing quite like the one-on-one attention you’ll get from Universal Accounting’s industry experts if you enroll in the video courses.

 

Universal Accounting School has helped students since 1979 with its turnkey process to starting an accounting business. Start on the path to achieving your lifestyle goals with Universal Accounting’s courses today by calling 877-801-8080. Or, set a time to chat when it’s best for you.

Learn more than how to do taxes. Become an Accountrepreneur.

At Universal Accounting Center, our ultimate goal is to help people achieve their lifestyle goals by becoming an Accountrepreneur.

In today’s rapidly changing business landscape, there is a growing demand for accounting services, and starting an accounting firm can be a highly advantageous career path for people who have a passion for numbers, an entrepreneurial spirit, and a desire to help businesses achieve financial success.

Becoming an Accountrepreneur

So, what exactly does it mean to be an Accountrepreneur? At its core, being an Accountrepreneur means offering quality accounting services while simultaneously building your business with an entrepreneurial spirit. In other words, it involves combining the technical skills required to provide high-quality accounting services with the business acumen required to build and grow a successful accounting firm.

To become an Accountrepreneur, you must first develop the technical skills required to offer quality accounting services. This includes a thorough understanding of accounting principles, tax laws, and financial reporting requirements. At UAC, our training programs provide students with the knowledge and expertise they need to become skilled accountants who can confidently offer a wide range of accounting services to businesses of all sizes and industries.

However, offering quality accounting services is only half the equation. To become a successful Accountrepreneur, you must also have a creative spirit and the ability to build and grow your business. This means working both in and on your business. In your business, you must be able to provide high-quality accounting services to your clients, meet their needs, and build strong relationships with them. On your business, you must be able to market your services, generate leads, manage your finances, and develop a growth strategy.

The premier accounting firm

Fortunately, there is a turnkey process to have the premier accounting firm in your area. At UAC, we provide our students with a comprehensive set of tools and resources to help them build and grow their accounting firms. This includes marketing and sales strategies, financial management tools, and a step-by-step guide to building a successful accounting business.

So, why is starting an accounting firm an advantageous career path? For one, there is a growing demand for accounting services in today’s business world. As businesses continue to navigate complex tax laws and financial reporting requirements, they need skilled accountants who can help them manage their finances and achieve their financial goals.

Additionally, starting an accounting firm can be a highly profitable business venture. As an accountant, you can set your own rates, work with a variety of clients, and earn a healthy income. And as an entrepreneur, you have the potential to build a highly successful business that can generate significant long-term wealth. Universal Accounting will help you find the perfect balance of accounting skill and business acumen to start the premier accounting firm in your area.

In conclusion, becoming an Accountrepreneur is a highly advantageous career path for people who have a passion for numbers, an entrepreneurial spirit, and a desire to help businesses achieve financial success. At UAC, we provide our students with the training, tools, and resources they need to become skilled accountants and successful entrepreneurs. With the right training and a strong work ethic, you too can become a premier accounting firm in your area and achieve financial success. Accounting success is universal!

Start your journey on the path to becoming an Accountrepreneur by calling 877-801-8080 today. You can also schedule a time online to talk when it’s easiest for you.

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