How to Avoid the Five Most Common Mistakes Entrepreneurs Make


Seize the Great American Dream of Owning Your Own Business

I know people who won’t work for anyone but themselves. They find owning their own business not only very profitable, but also very satisfying. Some of them describe it a lot like being a parent and watching a child grow. It might not always be easy, but they wouldn’t trade it for a million dollars.Starting a business provides challenges, but if you know upfront what makes it easier, you’ll find the satisfaction of watching “your baby” grow into a thriving business. A business that will provide the type of income you and your family are looking for.Entrepreneurs make 5 common mistakes that make it difficult for their businesses to succeed. Let’s talk about what they are and how to avoid them.

1.Examine the Three “Ts”- Time, Temperament and Talent. Be honest and assess yourself. If you work a 60-hour a week “day job” and coach little league while volunteering on the PTA Board, you might not have enough time to start your own business. Most business ventures begin part-time. You have to be realistic about how much time you can devote to your new business. You may need to let someone else take over the little league team and the PTA.Sometimes it’s hard to evaluate our own temperament. “I’m always logical and reasonable; surely I can start my own business.” Sometimes friends and family are in a good position to help evaluate us. Listen to their advice and comments, but realize that having weaknesses isn’t always a liability if you are aware of and compensate for them.Before you start any business you need to make sure that you have the expertise and tools that will be required. To start a bookkeeping and tax business, you’ll need to make sure you have the right education. The Professional Bookkeeper Course will teach you everything you need to know to do the books for small businesses. But we’ll talk more about that later.

2. Find Your Market Niche.The key to a successful business is to find a need and then fill it. The need for skilled and qualified bookkeepers has never been greater. Over 500,000 new businesses start-up in the United States every year. All of these businesses require a bookkeeper or accountant, someone who can be their profit expert. From the flower shop down the street to the bike shop around the corner, they all must do accounting. In fact, it’s the law.

3. Make Sure You Have Enough Capitol. Many wonderful businesses have eventually failed because they didn’t have enough capitol to operate. That doesn’t have to happen to you. Fortunately, a bookkeeping or tax practice doesn’t require a lot of capitol. You can operate your business out of your home, (which is what we would recommend, even for seasoned professionals). With a good computer and some office supplies, you’re ready to go.

4. Break That Corporate Mentality.Operating a small business isn’t the same is the same as working in mid-level corporate America. You won’t have the same resources that large corporations do. You will be your own secretary and you will probably answer your own phone. The corporate mentality is, “Do your job.” The entrepreneurial mentality is, “Do whatever needs to be done.” There may be a big difference, but the personal and professional rewards are great.

5. Don’t Underestimate the Amount of Work and Passion Required.If I told you it would be easy, you wouldn’t believe me anyway. It will take some effort. You’ll have to work hard, especially in the beginning. But the return is well worth it. I have met many people who have not only found success in their bookkeeping and tax practice by earning a better income, but they’ve been able to semi-retire after 12 months. They now work 20 hours a week and make $4000 to $5000 every month. They spend time with their family and do the things they want to do.

The US Bureau of Labor Statistics and Robert Half International, the largest accounting placement agency in the world, reports that the field of bookkeeping and accounting will continue to offer more and more opportunities to people like you and me. The accounting field has always offered a stable income. And now it’s offering you a wonderful business opportunity. If you have the passion to create the kind of lifestyle that you and your family deserve and are willing to work to get it, you will find a professional bookkeeping and tax practice to be incredibly satisfying.

The Education and Skills You Need to Start a Successful Bookkeeping and Tax Practice

At Universal Accounting, we’ve taught small business bookkeeping and tax accounting for over 25 years. Since 1979, the Professional Bookkeeper Program has provided the most comprehensive small business bookkeeping and accounting course you can purchase anywhere. And that includes any franchise you can purchase. (A franchise, by the way, could cost as much as $80,000 to start. That’s 53 times as much as the Professional Bookkeeper Program.)You don’t need a college education to run a very successful bookkeeping and tax practice. You do need some specialized training and skills, skills that you will learn in the Professional Bookkeeper Program.

It Doesn’t Stop With Your Purchase of the Professional Bookkeeper Program

Once your course arrives, you’ll not only have the finest distance learning educational materials available, you’ll have a personal coach who keeps you on track each and every step of the way. Your coach will help answer questions and offer encouragement to help you achieve the most out of the Professional Bookkeeper Program. At Universal Accounting, we don’t succeed unless you do. Our commitment to you extends through the first 6 months following your completion of the course. To make sure you get your new professional bookkeeping service on its feet and thriving, you’ll continue to have access to your personal coach to answer questions regarding your clients and their books and help finding and keeping new clients.Universal Accounting has some of the most talented marketing professionals in the accounting industry to help you succeed. And they are waiting and available to help you for the first 6 months after you’ve completed your course. (This additional level of support is provided at no additional cost.) I don’t know of any other course anywhere that provides the level of support after you’ll receive after enrolling in the Universal Accounting Professional Bookkeeper Program.

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