How to start a Virtual Bookkeeping Business in 2023?
Starting a virtual bookkeeping business in 2023 can be an exciting and rewarding venture. As businesses increasingly turn to remote solutions, the demand for virtual bookkeeping services continues to grow.
If you have a passion for numbers, organisational skills, and the desire to work independently, starting a virtual bookkeeping business can offer you the flexibility and potential for success in the digital age.
Step 1 – Define Your Purpose
Why are you starting a virtual bookkeeping business?
This “why” is your bookkeeping business’s purpose, and it’s important that you, your team, and your clients understand it.
Step 2 – Define Your Target Market
After establishing your firm’s purpose, you’ll need to define your ideal client early in your first year.
When starting an accounting business, consider creating a client persona.
- Which industries?
- What’s their problem?
- Who works there?
- Revenues?
- Who knows?
- They like what?
By defining your target market, you can focus your marketing efforts, as we’ll see.
Step 3 – Create a Long-Term Target
Prioritizing decisions, projects, and initiatives when starting a firm is impossible without a clear vision.
Long-term goals:
- Date yourself. 5-10-20 years, etc. You and your firm choose a date.
- Consider your bookkeeping or accounting firm’s goals by that date. It should be measurable and ambitious.
- Maybe it’s reaching $5,00,000 in sales or 1,000 small businesses.
Write yours in your strategic plan.
Step 4 – Create a 1 Year Plan
Once you have a long-term goal for your business, you can create a 1-year plan.
- Date your 1-year business plan.
- Project future business revenues.
- Project future profit margins (backed with a forecast).
- Create 3-7 measurable, attainable goals by that date.
These are immediate goals to ensure your business is on track to hit its 1-year plan, aligning with its 10-year goal.
Example:
- Employ an assistant
- 30-50 clients
- Website launch
Step 5 – Establish Your 90-Day Rocks
Let’s divide your 1-year plan into 90-day rocks:
- Pick a future date, likely the end of your next quarter.
- Look at the 3-7 goals in your 1-year plan and chunk them into 3-7 specific, measurable, attainable priorities for the next 90 days.
- Complete your simplified strategic plan by listing your rocks.
Embark on the journey of launching your very own Virtual Bookkeeping Business today! Dive into our comprehensive guide and take the first steps towards building a successful venture in the digital realm. Contact us to kickstart your entrepreneurial dreams