Launching your Bookkeeping Venture:

12 Tips from Lynn Talbott

Hey friends! If taking the solo leap to hang your own bookkeeping shingle has crossed your mind, know the decision deserves celebrating!  Learn from a pro who has been there before you. Here are a dozen tips from me before you take the plunge.

1. Assess your readiness: If your bookkeeping experience is mostly centered around managing the books for one employer, it might be a good idea to broaden your horizons.  While a formal degree in accounting or business is not required, having a solid understanding of bookkeeping principles can be beneficial. Consider signing up for Intuit’s free Quickbooks pro advisors program. Gaps exist for all of us but now’s the time to pinpoint them before clients rely on you!

2. Determine how many hours a week you really want to work. Determining ideal revenue and schedule parameters allowing you to maintain work-life bliss. No more hustling too hard; let's work intentionally this time!

3. Determine how much you want to make each year. Crunch the numbers through that lens, shaping services to attune with personal priorities first. Can you afford to quit your day job?

4. Finding your niche is key: Think about your background, experience, and interests and consider bookkeeping in one area, like contractors, or restaurants.  Nail down niche specialties which play to your existing strengths while you skill-build - what are you already good at? You can always expand later when you gain more confidence and higher-level skills. 

5. Master technical skills: Building practical experience in bookkeeping is essential. Familiarize yourself with QuickBooks, Xero, Gusto and/or Wave. Sign up for free accounts with all of them. 

6. Establish a professional network: Connect with professionals in the accounting and finance industry through LinkedIn, networking groups, or your local Chamber. Consider collaborating with CPAs who might need your bookkeeping expertise. 

7. Establish a home office with all of the things you need. - You may already have a fast computer, internet, good lighting, and a quiet place - check!

8. Create a professional online presence: Develop a professional online presence on LinkedIn. Consider building a small website that showcases your services and testimonials.  Consider teaming up with a marketing whiz who can help you with some branding magic.

9. Search for remote bookkeeping opportunities: Look for remote bookkeeping job postings on Indeed, Flexjobs.com, Upwork, or other specialized platforms that connect remote workers with employers. Join online communities or forums related to bookkeeping or remote work.

10. Become a continuous learner.  The field of bookkeeping and accounting is constantly evolving, so it is important to stay updated on industry trends, tax regulations, and advancements in technology. 

11. Find a bookkeeping community: Never underestimate the power of supportive community! Find your tribe, including mentors like me who became experts so you don't have to reinvent wheels out there. We’ll always have your back!

12. Increase your confidence - Going solo an be a tad intimidating.  Having a mentor at your fingertips for Bookkeeping and confidence building is priceless. This way if you ever get over your head, you have someone to call to help you immediately. 

It can be lonely out there!  Remember, building a successful remote bookkeeping career may take time and persistence. Stay proactive, keep learning, and work with a community of bookkeepers who can help you when you get into a pinch – or even take over a few clients if you want to take a vacation!

Ready? Let’s connect 1:1 to assess your stepping stones to prosperity and purpose! This will be an adventure! Don't fret, though, I can help pinpoint your training needs and Mentor you along the way! Let's get you in our private group for bookkeepers today for a free trial.

Lynn Talbott, the previous owner of a million dollar bookkeeping firm, is a professional bookkeeping coach and trainer. She provides bookkeepers with training, a bookkeeping support group, and individual coaching on becoming an independent bookkeeper.  Check her LinkedIn Profile