11: Why 2021 Is The Best Time To Start An Online Virtual Bookkeeping Business
The need for bookkeepers for small businesses has really grown and the way business owners look at outsourcing their bookkeeping has changed over this last year. In today’s episode, I’ll be diving into why I feel this year is the best year to start an online virtual bookkeeping business. If you are a small business owner, listen in and you’ll find this episode helpful if you are looking to outsource your bookkeeping. There are so many reasons why I feel starting an online virtual bookkeeping business this year is in your favor. If you are either a virtual assistant looking to add bookkeeping to your current list of services, someone looking to add an additional income stream to what you are currently making, you are working a 9 to 5 and are looking for a change, or if you are just thinking this year is the year you should start your own business, listen in and find out the reasons I feel this year is the best year to take the leap and grow a successful online virtual bookkeeping business…
I am opening up a few mentorship and consulting sessions to help you start and grow your bookkeeping business. If you are interested in starting an online virtual bookkeeping business, this mentorship and consulting process will help you launch your business and get your first client. If you already have an existing bookkeeping business, these sessions will help you to move your business to the next level, and if you are a virtual assistant who wants to add bookkeeping to the list of services you currently offer, I can help you expedite the process and make sure you are taking advantage of all the best strategies to reach your goals. Go to https://www.financialadventure.com/discovery and we’ll set up a time that works for you.
If you are just getting started and you’re ready to set up your online virtual bookkeeping business, I created the Online Virtual Bookkeeping Business Starter Guide. You can grab this free and detailed checklist to get you on track and go over what you need to set up your online virtual bookkeeping business so that you can learn the fastest way to start making money from the very beginning at https://www.financialadventure.com/starterguide
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Show Notes:
The need for bookkeepers for small businesses has really grown and the way business owners look at outsourcing their bookkeeping has changed over this last year. In today’s episode, I’ll be diving into why I feel this year is the best year to start an online virtual bookkeeping business. If you are a small business owner, listen in and you’ll find this episode helpful if you are looking to outsource your bookkeeping. There are so many reasons why I feel starting an online virtual bookkeeping business this year is in your favor. If you are either a virtual assistant, someone looking to add an additional income stream to what you are currently making, you are working a 9 to 5 and are looking for a change, or if you are just thinking this year is the year you should start your own business, listen in and find out the reasons I feel this year is the best year to take the leap and grow a successful online virtual bookkeeping business…
Welcome Back…Today I have a special episode for you. I’ve been receiving a lot of questions about my accounting and bookkeeping business, and thought I would talk today about the reasons why I feel this is an amazing year for you if you are looking at starting an online virtual bookkeeping business! I’m going to talk about why adding bookkeeping to your business is a great idea especially in this coming year, but it will also give small business owners an inside peek into how an online virtual bookkeeping business works and could very well help you make your decision if you are looking to outsource your bookkeeping this year.
Did you know that “Entrepreneur” named bookkeeping as one of the most profitable online small businesses? This is due to the very low overhead and start-up costs involved. Even if you don’t have any bookkeeping experience, you can start a bookkeeping business as long as you are willing to put in the effort and learn how to run a successful bookkeeping business.
What is the difference between an accountant and a bookkeeper? Accountants often require a degree or certification and bookkeepers normally don’t require any formal education.
Bookkeepers normally work with day-to day finances and collect and record this data in a bookkeeping system. They are responsible for paying bills, invoicing customers, collecting payments, making deposits, paying employees, updating records and reconciling accounts. In a nutshell, they record all the money coming in and going out of a business.
The amount of earnings for an entry-level bookkeeper varies, but on average their hourly rate is roughly $15.00 to $20.00 an hour which would come out to about $36,500 a year for a full-time bookkeeper working as an employee. A bookkeeper who starts their own virtual online bookkeeping business will often earn more than that, and could even triple that amount of income. An online virtual bookkeeper can set their own rates and best of all, when you have multiple clients, your job security is high…even if you lose one client, you still have others to fall back on. By creating a job for yourself by starting your own business, you are making a smart move and you shouldn’t need to worry about losing your job again.
Now that you know what a bookkeeper does, and roughly what they make working for a business as an employee and what the opportunities are for them to earn money in their own business, I’m going to tell you why I feel this year is the best year to start an online virtual bookkeeping business.
We all know how this past year has made an impact on us…whether good or bad, Covid-19 has really changed how businesses work. This turns out to be a REALLY good benefit for anyone working in the virtual world. Small business owners now more than ever understand the process of working remotely and many have had to take the leap into setting up processes to allow remote access in their offices. In the past, many small business owners put off moving toward the virtual world we live in today, but this past year has helped them make the move.
Secondly, business owners are searching for new ways to help keep their business running smoothly by being open to new ideas. Independent contractors, freelancers and virtual bookkeepers are often where they go to get the additional expertise they are looking for. The search for employees with the talent business owners need is getting harder and harder for them to find. Online business is really getting to be our new normal and most small business owners are embracing it. There have also been many new small business start-ups and these new startups jump right into the online business world and they all have bookkeeping needs. Having a small business provides you with options to pivot your business if the need is there and by doing this quickly allows for a higher success rate. We have seen many businesses pivot over the past year and small business owners are looking for additional help accounting for these changes.
Individuals have spent more time at home thinking about what they love doing, what gets them motivated and what they want to continue doing in their future. What have you had more time to do at home over the last year? Did you find the chef inside you and you started cooking more? Did you find a new hobby or did you FINALLY get to tackle that project you had on your list for the last two years?
Did you lose your job, are you looking for some extra money or have simply decided the current job you have isn’t really fulfilling your career desires or passions? Have you thought about starting your own business, but didn’t know what to do, or where to start? Have you started thinking about what you enjoy doing and how you would like to see yourself owning a business that would meet all your expectations? Can you see pouring all your experience and expertise into a business you can call your own and watch it grow? If you answered yes to any of the previously asked questions, a virtual bookkeeping business may be a great option for you!
You may be thinking you need more flexibility and freedom. By having an online virtual bookkeeping business, you have the freedom to live anywhere you want and it allows a flexible work schedule so that you can spend more time with family or doing what you love. Last year was a hard year to get use to. There were many parents, turned teacher, that needed to help their children with online schooling. This was really hard if you didn’t have a job that provided the flexibility you needed to help your children succeed. Flexibility and freedom are a huge driving factor for the new businesses that are popping up now.
When you have your own business, you get to choose who you work with. Do you have a niche you are familiar with? Do you have a wealth of information about a specific product…like wine making? Are you knowledgeable about advertising agencies or other service-based businesses? Have you always been fascinated about how farmers run their businesses? Do you love the impact non-profits have in the world? Specializing in one area can really help the success of your bookkeeping business and allows you to work with clients you have an interest in. By becoming the expert in your niche, you will draw in additional business.
Think about how innovative everyone has been over the last year. We’ve gone into a more virtual world. We are buying more items online, we talk to consultants over the phone or the computer rather than face-to-face. Zoom is the new meeting place. We all grew in our online and virtual experiences both personally and in our business careers.
So, why…why would you want to start an online virtual bookkeeping business? This why is going to be very important for you. Write your “why” on a piece of paper and refer back to it along the journey of starting your online virtual bookkeeping business. This will help you push through when you run into a challenge and keep you focused on where you ultimately want to go with your business.
I have had my bookkeeping business for over 15 years. My why was my family. Working in public accounting required long hours especially during the tax season and I missed a lot of time with my family. Now that I have my own business, I enjoy working with my clients and my flexible schedule. I take on the clients I want to work with and the type of accounting and bookkeeping work that I want to do. I have brought my business to a consistent six figure income and I want to share my strategies with you.
I am opening up a few mentorship and consulting sessions to help you start and grow your bookkeeping business. If you are interested in starting an online virtual bookkeeping business, this mentorship and consulting process will help you launch your business and get your first client. If you already have an existing bookkeeping business, these sessions will help you to move your business to the next level, and if you are a virtual assistant who wants to add bookkeeping to the list of services you currently offer, I can help you expedite the process and make sure you are taking advantage of all the best strategies to reach your goals.
If you are interested in scheduling a FREE discovery call to see if this is something that you are looking for, go to https://www.financialadventure.com/discovery and we’ll set up a time that works for you. I’m excited to be offering these sessions. I have a passion for teaching not only in my bookkeeping business, but I am looking forward to learning more about your dreams of starting your bookkeeping business and teaching you what has worked for my business as well.
If you are just getting started and you’re ready to set up your online virtual bookkeeping business, I created the Online Virtual Bookkeeping Business Starter Guide. This free and detailed checklist will get you on track and go over what you need to know to set up your online virtual bookkeeping business so that you can learn the fastest way to start making money from the very beginning. There is a lot to getting your business up and running, and I want to make sure you are doing everything correctly to start your business from scratch. You can grab your free Online Virtual Bookkeeping Business Starter Guide by going to https://www.financialadventure.com/starterguide.
And, you know I’m going to ask…what’s at least one thing you will take away from this episode that will help your business succeed and grow your bottom line? If you need some accountability, join our PRIVATE Facebook community and post your action item, we’d love to support you.
