I would really appreciate some advice from the professional book-keepers on this site regarding running my own business.
I have taken, and am confident that I have passed, the IAB Certificates 1 and 2. I am now studying for the IAB Level 3 Diploma in Accounting and Advanced Book-keeping and have had some very good feedback from my course tutor so far. I have printed business cards, set up my website and am now preparing leaflets to target new business startups in my area.
Being new to book-keeping, although I am confident in my abilities, I am really wondering if I am doing the right thing by offering my services at this point. I do not wish to take work away from accountants, merely work along side them, in preparing books for small businesses.
I have a friend who is asking his accountant if I may pop along to sit with his book-keeping ladies to get some experience but I suppose I really would like to see a full set of books "in the flesh" so to speak.
I'm not sure if anyone can answer this question for you.
However you know what I like about you is that you are taking steps and you'll be able to say - I gave it a go!
Personally I believe people excel in their business because they have a passion for what they do. So if you are a natural organiser, love to dot the i's and cross the t's, have a knack for problem solving, wading through a mountain of figures and tracking back problems, good at relationship building (not all about numbers - there are your clients debtors, creditors, suppliers and their clients to continue the relationship with). If all of this fills you with apprehensive excitement, then go for it. If this all sounds like something you are going to dread - then perhaps it will only ever be a job, something to get by on until you discover something you are more passionate about!
Hope this helps.
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Tayo Richards www.admin2day.com admin for today's business
Thank you Tayo, your reply is really encouraging. I think I am nervous as I know i need to make a fantastic impression from the word go so I get a good name for myself in the area. I think "take it slow" might be the best course of action. Thanks again for your comments.
I kept putting off being self employed as I had no previous bookkeeping experience. I wasn't very confident at all, but I know that if I had waited until I got the confidence that I needed, then I would never have started. The only way to get confidence is to do bookkeeping work and the only way to do that is to get clients. Start advertising and see what happens but make sure that you are registered for money laundering before starting to advertise your services.
If you are questioning whether it is right time to start your business then would say possibly not. With no experience in bookkeeping would say would make it harder gaining the clients. Qualifications are great but with no experience and in many cases the real world of bookkeeping is completely different ball game then the IAB or ICB courses.
Would say initially to gain experience would be to get a job in a larger enough company that there is an accounts department so you are working as part of a team so things you are unsure of the more experienced members of staff in accounts department can show you how to do these things or get a job for an accountants. If it is an accountants job you get this could be a good way into getting bookkeeping work outsourced to you from the accountants as you would have chance to build good working relationship with the accountants as an employee.
I would say if your circumstances allow you to have job for at least a year it will give you better grounding for setting up solo as self employed.
