5 Things To Watch Out For When Starting Your Own Bookkeeping Business (Blog Post Announced)

Oct. 29, 2013 - PRLog -- If you’ve been in interested in establishing your own bookkeeping business or tax firm,  you may want to be aware of some things to avoid when getting started.
Owning your own accounting firm (whether that’s bookkeeping, write-up, taxes, or all of the above) can be an incredibly rewarding experience with an impressive set of ‘fringe benefits’. However, before you make the jump into starting your own business, there are several key issues to be aware of. I’ve compiled five common things to watch out for that accountants should avoid when starting their own firm. By avoiding these mistakes, your new accounting firm should be off to a strong start.

1. Failing to market yourself

The fact you may have experience working for a large CPA firm does not guarantee a huge client base once you start your own firm. Or if you’ve been a full-charge bookkeeper for a small business it doesn’t mean service clients in a ‘public bookkeeping’ function will be easy. Many new business owner accountants do not realize this. One way to put yourself out there and increase your chances to build your book of business is to be the lowest bidder on public bid work. When you get the job, perform above and beyond the client’s expectations. If you do this, you will give yourself the opportunity to be recognized for your earnest hard work which will influence referrals. You may have to take a small profit on those original projects, but look at is as increased advertising expense that you can leverage.

read more at http://www.hometeamaccounting.com/accounting-from-home-2/5-things-to-watch-out-for-when-starting-your-own-bookkeeping-business/