How To Start A Bookkeeping Business, Shifting Your Mindset From Employee

If you are thinking about starting a bookkeeping business

, you will need to be aware of the differences between being and employee and being a business owner. The difference in thinking can make a massive difference in your business and its success.

As an employee your working life is quite predefined. You are expected to arrive at a certain time, achieve certain goals and leave when you have come to the end of the working day. These tasks are often set as out a job specification or a job description. It is very clear what you are to do, who you report to, how long you have to achieve your goals and the salary the employee will pay for your efforts.

You might have annual reviews as an employee and even have key performance indicators written into your job description so you and your superiors can track you performance by the attainment of the tasks o a certain date. In short your working role is often handed to you in black and white and you have a chain of people to go to if you have any issues.

In contrast, as a business owner, when you start a bookkeeping business your working life becomes quite different. You might not have a job description; you might not have any training or hand over. A client may ask you to set up their systems or just walk in and take over from a previous employee or bookkeeping service. You might need to work out the time it will take to perform the role and even create the role from the client's brief specification

There may not be anyone in the organization to turn to if you are having difficulty, they have brought you in as the bookkeeping expert and expect you to answer all the questions and just get the job done. You will need to be responsible for the quality of the work and all of a sudden your reputation might be affected by the way you deal with the client or your ability to service them.

Of course as a business owner, there are other skills that you will need to have which may not have been as evident as an employee. How well do you communicate? This will have an impact in the relationships you have with your clients and potential clients. How much do you know about marketing? As an employee you might not have had any experience in this area, yet as a business owner, your marketing skills will be an important part of your business.

Additionally, just the way you perceive the working day can also have an impact on your business and the way you prioritize your time. All of a sudden, if you do not have clients work to do, you will not be paid. This is quite different to an employee situation where you might have annual leave, sick leave, training and development days, time off for study or professional development, all whilst being paid.

Your ability to generate an income and grow the business will rest solely in your hands. This is sometimes something that people do not consider prior to starting a bookkeeping business. It is important to remember however, with a lot of work and effort and determination, it is possible to succeed in your own business and grow as your skill set changes.

by: Julia Nitschke

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