Last week, I came to the realisation that it would be quite enjoyable to start a ‘side project’ where I try to grow an Accounting/Bookkeeping company from scratch, by myself.
I have ran my own business in the past, and it is something that I do regularly miss. The opportunity to begin another business has just never arisen. But, in this day and age where anything can be started online, I thought “Why not!”
Anyone who has been to this blog before, I am a fully qualified Chartered Accountant. Despite this, I have never really had the urge to be a conventional number crunching Accountant. This is mainly because I don’t like the idea of not having the flexibility to choose my own work, and just doing endless tax returns (which can be the reality of working in a conventional Accounting Firm). So, I had the thought that I could do what I’m qualified to do, but do it on my terms!
How To Start An Accounting Firm or Bookkeeping Business
Honestly, I don’t know all the answers. This is why I think this journey is going to be interesting. Those of you who are looking for answers will be able to learn from my mistakes, and I’ll be 100% transparent in the progress, and where I went right and wrong.
I will be documenting all of the income, expenses and knowledge gained during this journey. Each post I make will be set in a specific template so that the content and structure is kept consistent and concise throughout the journey (there is nothing worse than a 5,000 word article which teaches you nothing!)
Without further time wasting, let’s get started with my progress so far…
So far I have mostly completed brainstorming on exactly what I ‘want’ out of this. I have no current aspirations to create the next “Big 4” level company (although I wouldn’t mind the money that comes with it!) My main goal is to enjoy the learning experience, as well as create a nice ‘side-income’ working evenings and the weekend.
In the past I have had great success with creating gigs on Fiverr, believe it or not. While the money is terrible to begin with, once you build a stable foundation of clients, you can start to crank your prices up, and get some great repeat business. In my teenage years I did a lot of website design work on Fiverr, and actually made fantastic money for my age!
On that note, I decided to set up a Fiverr Account, and put two ‘gigs’ up to see how they progress:
- Bookkeeping & Accounting (creation of Financial statements etc)
- Content writing about Accounting/Finance (it’s what I do here after all…)
On top of the new gigs, I also created a logo for the brand. Nothing too fancy, as I wanted to keep quite a simplistic brand, which is just based around my initials.
The Plan Going Forwards
I’m currently stuck on a cross-roads on what I will be doing to obtain clients. As I’ve stated above, I will be utilising Fiverr. But I will look to a couple of other sources in the coming weeks. I don’t want to spread myself too thin though, as I know when these sources begin to work, you can find yourself drowning in work. I don’t have the time, or the wish to be overloaded with cheap work at the get-go.
I’m yet to make a website for the business, and that is on the cards over the next month or so. I will not be aiming at local businesses in my area, so I think local website marketing is going to be irrelevant for me, and I’m yet undecided on whether a website is going to be beneficial for obtaining clients further afield.
Anyway, stick with me on this one, and if you have any questions, please don’t hesitate to get in contact with me!