Starting Your Bookkeeping Business? 5 Questions Bookkeepers Ask
If you are interested in starting a bookkeeping business, this article includes the 5 most common questions I get asked.
You may be wondering things like: Is bookkeeping dead? Will artificial intelligence take over? Can I really start bookkeeping with just QuickBooks Online--or at what point will I actually feel ready to take on bookkeeping clients? You may also have questions about marketing: what if I can’t find any clients to work with?
I will cover all of these questions, as well as, dive into the differences between Bookkeeper Launch and Booming Bookkeeper while sharing my #1 struggle when I first started my own bookkeeping business.
Watch the video here, or keep reading!
#1 - Is Bookkeeping Dead?
If you are starting a bookkeeping business, you may be worried about competition from artificial intelligence (AI) or the automation that is happening within bookkeeping. These should not be a barrier for you to start your bookkeeping business.
Here’s why…
In my personal experience, the advances in technology have only made my job as a bookkeeper easier. Bookkeeping used to be very meticulous with lots of writing and checking, without much help.
With the automation that we have today, bookkeepers can spend their time on tasks that are more beneficial to their clients. For example, helping clients with productivity, looking at the profitability of the business, and talking with clients about KPI’s (financial key performance indicators). Many industries are constantly adapting to new technologies, and bookkeeping is not any different.
Throughout my bookkeeping career, I have found that people still want that personal touch and human interaction. Even if business owners know how to use QuickBooks and can use the automatic functions, they either determine that they don’t want to take the time to do it themselves, or they feel they need someone to consult with to make sure they are doing it right.
I have found that the first thing small business owners want to outsource is their bookkeeping. Finances are important and they want to make sure they are being done correctly, so they hire you as a bookkeeper!
#2 Is QuickBooks Online Enough?
The answer to this is “not really,” but QuickBooks Online is a great place to start. That being said, some people think you need in-depth knowledge and training before you become a bookkeeper, and others are told to learn QuickBooks and figure it out as you go. My view is that it’s somewhere in the middle and depends mostly on your goals and personality.
There are solopreneurs out there doing their own books with no experience, so if you learn QuickBooks and get the free ProAdvisor certification, you will likely know more (or the same) as the solopreneur. This is how I started!
I started my bookkeeping business with a simple client and took over the bookkeeping for a solopreneur. I learned a bunch as I went along, encountered some problems, learned how to fix the problems, and springboarded this knowledge and experience to take on my next client.
Then I did the same thing again…
I got more education, fixed some problems, did some research on different bookkeeping tasks, and used this information to hire my next client.
Overall, with a simple knowledge of QuickBooks, are you ready to start with a complex client that has several employees on their payroll, lots of invoicing, and weird stuff going on? No, but my advice is to start small; build the steps, get more education, and learn as you go.
#3 What if I Can’t Find Any Clients to Work With?
This one can be hard because I can’t guarantee that you are going to find clients, but from my experience, I didn’t find it too difficult to find people needing a good bookkeeper. I personally think there are many business owners who are in search of a bookkeeper, but don’t know where to look. If you can present yourself in a way that solves this problem for them, they are going to be grateful to have found you and want to hire you.
This isn’t going to be the easiest part of starting your bookkeeping business, and it will take time, but you can be successful in getting clients if you are organized, create a marketing plan, and have a hustle mentality.
You also need a growth mindset to continue working on bettering your skills. Maybe you don’t think you are the best interviewer, but you can search on YouTube, “How to be a better interviewer,” in order to prepare yourself for interviewing your next potential client.
For more assistance in marketing, check out my course, Bookkeeper Marketing Coach, where I will help you build confidence and give you all the tools you need to market your new bookkeeping business.
One of my favorite things about being a bookkeeper is that clients tend to stick around and roll over year to year. At some point you’re going to have your max amount of clients, once you hit your max, you don’t have to keep marketing. Most other service-based careers find themselves constantly going out to find more work, however, that isn’t the case with a bookkeeping career.
#4 Bookkeeper Launch or Booming Bookkeeping Business?
Bookkeeper Launch and Booming Bookkeeping Business are the 2 courses I am most familiar with and recommend to beginning bookkeepers. Because they are similar, I often get asked which one is better and what the differences are.
There are other classes out there, but these 2 hold the industry standards. Both are high-quality programs that are going to prepare you to be a bookkeeper and teach you what you need to know. They educate you on accounting principles, QuickBooks Online, how to set up your business, marketing, and they each provide their own help system and community group.
RELATED: Bookkeeper Classes and Certification Chart
Bookkeeper Launch is better known and they have a larger community. The pros to their program are that it’s more robust, there is more time spent on practicing, and more material to go over. There is a ton of information within this program. The visuals are also nice, they go over a PowerPoint and it is easy to follow.
One of their strengths is their helpline and they will help you with client problems once you start your bookkeeping business. This is key, because oftentimes beginning bookkeepers feel alone when they first start their business. It’s hard to know where to go to get your questions answered and Bookkeeper Launch will provide this support and community for you.
All that being said, I do find Bookkeeper Launch to be a bit wordy and sometimes they go into too much detail. I prefer a teaching style that’s a little more “get to the point”.
To find out more about Booming Bookkeeping Business I talked to Bill (the creator). He is really proud of his marketing section within the course and I do think Bill’s marketing program is one of the best. Bill is also proud of the fact that he provides personal interaction with all of his students.
He has been great at responding to me, but I could see this as a pro and a con. Yes, it’s great that you get to chat with the creator of the course, but I may actually be intimidated by that. I would prefer a peer mentor that has been in the business for a few years to assist me when I have questions. However, I see that as he grows, Bill is not going to be able to continue to do it all himself.
In Booming Bookkeeping Business , Bill is a bit more concise, but his visuals aren’t as appealing to me. In most of his course, Bill stands and writes on a white board, so it’s not very interesting to look at.
#5 - What Were My Biggest Struggles Getting Started as a Bookkeeper?
The biggest thing I struggled with when starting my bookkeeping business was feeling alone. I didn’t know how to start, and I didn’t know who to go to when I had questions. I had previously worked at a big company where there was access to lots of resources.
I had one friend who was a bookkeeper and she did help me some, but I had to be self motivated, which was difficult. Even now, if I come across a problem, I must research it or if my webcam is not working, it’s up to me to fix it.
Other hardships I have experienced are the constant adaptations in QuickBooks. There is always new stuff to learn, so I never feel super confident. I also don’t really like clean ups. I hate messy books, but I don’t enjoy sorting through them and fixing it all. My sweet spot is knowing the client’s books are perfect and keeping them that way.
And as I mentioned earlier, I’m not a fan of marketing. I find it a distraction from the bookkeeping work that I like to do. I like to be in the groove of working with a client for 6 months or more. That’s when I feel like I know what I’m doing!
Bookkeeping is here for the long run and I look forward to supporting you as you start your journey of owning your own bookkeeping business. What did you find helpful or what other questions do you still have?
