If you want to start your own bookkeeping business, the first step is to create a business plan. But if you’re struggling with your bookkeeping business plan, you’re in luck. This document will outline your company’s goals, strategies, and financial projections.
Creating a business plan may seem challenging, but if you create a step-by-step guide, it becomes much more simple. With that said, here are the key components of a bookkeeping business plan.
When you start a bookkeeping business, one of the initial steps is to create an executive summary. This document outlines your company’s goals, strategies, and financial projections.
The executive summary is typically one to two pages long and should include the following information:
- Company name, logo, and contact information
- A brief description of your company’s products or services
- Your company’s mission statement
- Target market
- Sales and marketing strategy
- Financial projections
- Executive team bios
When writing a business plan, don’t skip this information! You should also consider an accounting firm workspace.
The next section of your bookkeeping business plan is the company description. This is where you’ll provide an overview of your business, including its history, structure, and team.
This section should also include your company’s mission statement. The mission statement is a brief, one to two sentence description of your business’s purpose.
For example, your mission statement could be something like, “To provide bookkeeping services to small businesses.”
In addition to the company description and mission statement, this section should also consist of information on your target market. Who are you targeting with your bookkeeping services? Put in as much detail as possible so that your target market is clear.
Finally, this section needs information on your company’s competitive advantage. What sets you apart from other bookkeeping businesses?
Products and Services
The next section of your bookkeeping service business plan is dedicated to your products and services. Here, you’ll provide an overview of the bookkeeping services you offer.
Be sure to include pricing information for your services. Will you charge by the hour, project, or month?
In addition to your products and services, this section should have information on your sales and marketing strategy. How will you market your bookkeeping business?
The final section of your bookkeeping business plan is your financial projections. This is where you’ll outline your company’s operating expenses, revenue, and profits.
To start, list out all of your bookkeeping business’s operating expenses, such as rent, insurance, and marketing. Then, estimate your revenue for the next year. Finally, calculate your profits.
Keep in mind that your financial projections are just estimates. They may change as your business grows and develops.
How to Get Clients for a Bookkeeping Business
Now that you know how to create a bookkeeping business plan, the next big step is to bring in clients. Here are a few tips on how to do so:
First, start by networking with other small business owners. It’s a good idea to attend local business events and introduce yourself as a bookkeeping professional. Doing so gets your company name out there and ensures that you’re advertising in the right circles.
In addition to networking in person, you can also connect with potential clients online. Join relevant online communities and forums, and participate in discussions.
Leverage Social Media
Don’t forget to use social media to your advantage. Create a profile for your bookkeeping business on sites like LinkedIn, Twitter, and Facebook. Then, start sharing helpful content related to bookkeeping and small business ownership.
By providing value to your target market, you’re more likely to attract clients to your business.
Offer a Free Trial
Another great way to attract bookkeeping clients is to offer a free trial of your services. This allows potential clients to experience the value of your bookkeeping services without any risk.
If they’re happy with the results, they’re more likely to become paying clients.
Create a Website
When you’re a startup bookkeeping company, no one knows who you are. Therefore, it’s important to create a website for your business.
On your website, be sure to include your company’s contact information, services, prices, and anything else potential clients might want to know. By having a website, you’re more likely to attract bookkeeping clients from a wider range of geographical areas. Not only that, but it shows potential clients that you’re reputable.
Get Listed in Online Directories
Finally, don’t forget to get listed in online directories. When small business owners are looking for bookkeeping services, they often turn to online directories. Some online directories to list your business in include Yelp, Thumbtack, and Angie’s List.
By following these tips, you’re sure to attract bookkeeping clients in no time.
What Type of Businesses Need Bookkeeping Services?
Putting together a bookkeeping business plan is helpful, but you must know who your target audience is. Here are a few companies that benefit from bookkeeping services:
- Small businesses
- eCommerce businesses
- Brick and mortar businesses
Actually, there aren’t too many businesses out there that don’t benefit from bookkeeping. If you know who your company can help, it’s easier to get out there and snag clients!
Creating an Effective Bookkeeping Business Plan
If you want to start a bookkeeping business, you have to create a business plan. However, if you’re struggling with your bookkeeping business plan, we hope this article helped.
The more detailed you are with your plan, the higher the chance of a successful launch. After all, you want your startup bookkeeping company to soar!
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Have a fantastic day!