Running a MYOB Bookkeeping Business

There is an old saying that “a poor plan well executed is preferable to a great plan poorly executed.” This saying applies very well to managing a bookkeeping business. The reason most people fail once they start this kind of clients is usually not a result of lack of vision or intelligence. People simply neglect to execute their plans.

There is plenty of bookkeeping strategic business plans available online. Many of these plans involve learning basic bookkeeping skills and then finding clients. It is a pretty straightforward plan, albeit difficult.

There are several methods to learn basic bookkeeping skills. One of them is to attend a University and earn a degree in accounting. MYOB Accounting majors graduate with a solid understanding of basic accounting principles. Most accountants don’t like to think of themselves as bookkeepers, but the truth is they understand the foundations behind bookkeeping very well.

Many people with a degree in MYOB accounting do not know how to set up a CPA system for a small company.

This is something which includes practice and experience. In school, accountants are taught the foundations of accounting, but they aren’t generally taught how to walk into a business and set up that business’ accounting system.

If you don’t want to drop 4 years earning a diploma in accounting simply to launch your own bookkeeping business, there are other methods to obtain the knowledge you seek. A fast search on Google will disclose some of the quicker courses you are able to take online or with a college. These MYOB courses tend to be much more practical plus they provide you with suggestions about using accounting software (something else that’s not really taught in the big Universities). Many of these courses will cost you some money; however, many are extremely affordable.

After you have the basic training down, it’s time to get your first client. Finding the first client can often be the most difficult. You now probably haven’t any experience behind you and also most people don’t want to outsource their bookkeeping to a person who has never done bookkeeping before. To overcome this obstacle there are several options:

  • Try teaming up with someone who does have some experience. After you have done a few jobs, you’ll be able to embark on your own.
  • Try to find a friend or family member who’s willing to take a chance on you.
  • Try offering the services you provide at a discounted rate, or perhaps free until you get that first customer.

In your first job, put all you have into it. Do a great job and you will discover that the first client will refer other clients to you. The best way to find new customers comes from existing clients. A simple, “Do you know anybody else who might benefit from my services?” will get you an unexpected quantity of customers.

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