The most effective way to market your freelance bookkeeping services is by building relationships. Word of mouth and referrals are what supply almost all bookkeeping and accounting businesses with their clients.

So how does one build the kind of relationships that grow a strong bookkeeping practice? There are many ways. Of course, face-to-face, as well as online networking are key. But the vast majority of would-be networking bookkeepers make a BIG mistake and are wasting their time.

They aren’t getting results because they fail to follow-up!

If you’re serious about building your freelance bookkeeping business in 2010, make sure you follow-up with the people you meet at business mixers and seminars, or meet through online discussions.

One of the most effective, convenient and economical way to follow up with all of your business relationships (prospects, clients and strategic alliances alike) is simply through email.

Big surprise, huh?

When it comes to following up with prospects and referral partners, in fact, email is almost expected. Depending on whom you’re networking with, many small businesses no longer even bother to list their mailing address on their business cards – only their email address and phone number. Electronic contact has become the norm.

Yet as easy as it is, I am amazed at how many times I’ve met people at seminars or networking situations where we really connect, yet I never hear from them again. Has that happened to you?

Of course, email works both ways. I find in my own case, I may have a fistful of business cards of folks I intend on staying in touch with after connecting in person, yet time can pass quickly, and then it feels a bit awkward to send an email. Will they even remember who I am?

That’s why now I make the goal of contacting new prospects and alliances within only a couple days of returning to the office. It becomes a priority on my daily list. I also keep the first email short and sweet.

Of course, it can be more of a challenge if there is nothing specific to talk about in the email other than, “Hey, it was great to meet you and let’s stay in touch.” It’s a bit easier if there’s a more specific purpose for the message. So I try to ask a question based on what we spoke about when we first met. The idea is to continue the conversation and have a reason to stay in touch.

And that’s the point. The true value of using email is to build a relationship. And relationships are what will keep referrals coming your way.

A Word of Caution

The temptation in email, especially on a business level, is to attempt to get immediate business and directly sell your services. Be careful with that. It can end the relationship in a hurry if your in-person encounter had more of a social tone and business discussions were indirect. Keep your messages on that same level as your initial contact until you know each other better.

On the other hand, if the people you meet showed an interest in learning more about your bookkeeping services specifically for their own business, then by all means, arrange a phone call or follow-up meeting to take the conversation to the next level. Use your discernment here as to how hard or soft to sell, just don’t lose site of your objective – to build a relationship first. If you do it right, the referrals will follow.

Another way I’ve seen people use email as a follow-up tool from networking events is to add everyone they’ve met to their email newsletter list. While this may seem like a good idea, be very careful with it!

If you send out regular sales messages or newsletters via email, unless the recipients specifically asked to be put on your emailing list, you may be breaking the law! The FTC provides guidance on how “The CAN-SPAM Act” applies to sending out commercial email messages. Even if you are a sole freelancer, these laws apply to you too.

A better procedure would be to follow-up personally one person at a time via email after a networking event. Let them know about your online newsletter and ask them if they’d like to receive your messages. Giving them a choice not only puts you in compliance with the law, it shows respect and further nurtures the relationship.

How to Use Email to Get the Best Results

While email is a communication tool that can be very effective in building your business, it takes time to see results.

One email will not bring you a flood of new clients. As in any type of relationship, communication must be maintained on a regular basis, otherwise the relationship will eventually die. So be sure to stay in touch with the best contacts you have on a consistent basis.

As mentioned in the book, “Successful Email Marketing Strategies,” email marketing is more like farming than hunting. You are not trying to capture new clients, but grow them from your consistent efforts over time. If you stick with it, you will reap a healthy network of contacts that will send you a crop of new clients almost automatically over time.

Next Steps

While sending personal email messages one at a time can be effective, as your network grows, it can also become very time consuming. That’s why I do recommend having your own email newsletter or other way to stay in touch with all or groups of your contacts all at once in an automated way.

I’ve seen many small businesses simply attempt to do this using Outlook or their email address book. This is not the best way to do it, and can ultimately become a nightmare. An email service is a better way to handle this chore easily, economically and legally.

But there is a lot more to effectively using automated email marketing to really ramp-up your business relationships. And there’s lots of questions about best practices in this area too, to save time and frustration with the technical side of it all.

That’s why I’m going to be attending a webinar being held live next week by Ely Delaney of My Business Marketing Mentor. I know Ely personally (we met at a business seminar!) and he is an excellent teacher and quite passionate about automating as much as possible…instead of doing everything manually. That’s my weakness, so I know he’ll have some great tips, tricks and techniques to share for getting more done with less.

If you’d like to join me in attending this training, I’ve added a link to the sign-up page in the Resources section below. But be warned, this is a small online class with only 50 slots available (I’m not sure how many are already taken). So I’ve already signed up because I know it will sell out fast. It’s happening next Tuesday, December 29th at 5:00 PM Eastern Time.

In any case, start using email as your primary follow-up tool to build your referral network, and you will create a solid foundation for growing your freelance bookkeeping practice for years to come.

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Please Note:  Some of the links in this post are affiliate links and I may be compensated for my recommendations. However, I will never recommend anything that I don’t personally believe in or use in my own business. Your questions and feedback are invited.

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Resources:

Automated Email Marketing Systems webinar (Tuesday, December 29 at 5:00PM-Eastern Time)

The Complete Guide to E-mail Marketing: How to Create Successful, Spam-free Campaigns to Reach Your Target Audience and Increase Sales – recommended reading

Aweber – the email list management service I use (and love)

Sounds good, doesn’t it? But how can you get those kinds of results in your freelance bookkeeping business….especially now?

Training.

No, I don’t mean TAKING more training classes. I mean GIVING training classes.
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Why Public Speaking & Training Will Help Your Business NOW!

When you step up and take on the role of trainer, by giving a talk or by conducting a class or seminar, you are positioning yourself as the expert. Few bookkeepers ever step into the spotlight and offer helpful advice to small businesses. If you do so, you set yourself apart from the competition and build tremendous trust in a hurry.

In this economy, trust-based marketing is more effective than anything else at attracting new clients. And not just any clients.

Quite likely the people who will come to hear your pearls of wisdom will be interested in either managing their business finances more effectively, or finding a better way to get their bookkeeping done. These are high quality client prospects.

After they see you in action and feel as though they know you, if they need additional assistance, who do you think they will contact? (And who will they recommend when a colleague needs assistance with cleaning up his books at year end?)

Of course, if you are conducting a training class, say in QuickBooks, you can charge a fee for sharing your knowledge. You won’t get rich on teaching these classes, but it can help smooth out any cash flow pinch you may be experiencing right now. You’ll also be sowing seeds for pulling in new clients in both the short and long terms.
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Don’t Be Afraid to Give Away Your Secrets

Even in this tight economy when many of us are losing clients because of cut-backs, you can be the hero who teaches small businesses how to get the most out of their financial reports, or teach them how to use QuickBooks effectively. You won’t be teaching how to live without you. In fact, they will likely be calling you for help to  clean up their bookkeeping mess later when they don’t apply what you’ve taught them. (See my previous article on how to handle this situation gracefully – “When Clients Want to Do Their Own Books” )
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What’s Involved?

In-person talks – Small business networking groups or your local Chamber of Commerce are usually looking for speakers who can share useful information with small business owners.

On-site or off-site classes – Another option is doing small group classes, such as for QuickBooks basics, for an organization such as the SBDC, Chamber of Commerce, or even a local continuing Adult Education programs. These may be paid or free gigs.

Online training – This is my favorite way to conduct training events. You can do both free and paid events at very little cost. Both teleseminars, which are conference calls, or full-blown webinars work well, depending on the topics you will be presenting. Even hands-on QuickBooks classes can be done on a virtual basis with small groups. Lots of possibilities here.
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What to Teach?

Answer FAQs – Answering the most common questions clients ask or giving helpful tips on how to handle the most common problems you see clients struggle with is an easy way to provide very useful information to your audience.

Practical How-To Info – Of course, how-to information is always popular. This could include a class on how to interpret financial reports, or a simple way for small business owners to set up a working budget or forecast their cash flow. And of course, QuickBooks training is the most popular for full-blown classes.
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Is It Really Worth the Effort?

YES! Whether you pull in some quick cash, pick up a couple new clients, or simply establish yourself as the go-to bookkeeping expert in your community, you WILL see results for stepping up and providing valuable information to small business owners. That’s the stuff on which powerful relationships are built. And building powerful relationships is the most solid way to grow your freelance bookkeeping practice.
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Get Into Action

The best way to learn is by doing. If you are already involved in your local business community, see what opportunities are available to get you started. Start out small to build your confidence.

If you’re more on the shy side, online is the way to go. That’s why I started with online classes. They’re less scary. Your choices are teleseminars or webinars. I prefer the latter, but they are more involved.

I learned how to do webinars from an online training course that was only available one time, a couple years ago. It was far and away the best of the few trainings I’ve ever seen available since.

If you do want to try your hand at doing online events, I’ve got good news! Just last week I learned that this same online webinar training course has just been updated (due to changing technology) and is available again, right now, in fact!

In my experience, webinars are THE best way to build your reputation online and thus open your business reach to a more than national scale. So this training course gets my top recommendations. In fact, I’ll be attending it again so I can stay up to date on the latest techniques. (See more details under the free Resources below)

So get into action and get out there by speaking and teaching to attract more clients and more revenue. You’ll never look back once you do!
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~Gabrielle

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Resources

Free mini “crash course” on doing webinars

Free “Insider Webinar Strategies” LIVE webinar on Monday, October 12th

Free teleseminar conference lines

Have you found that the recession is causing some of your clients to take a hard look at reducing expenses? Is that making them consider the idea of taking their bookkeeping in-house?

If so, don’t panic. There is actually a golden opportunity here, if we look a little deeper.

The first reaction most business owners have when they see a sudden (or not-so-sudden) dip in revenues, is to tighten the belt on their expenses. And unless they are aware of the true value of your services, they may target their outsourced bookkeeping expense for elimination. “It’s just simple data entry,” they may think.

Of course, we know that accurate bookkeeping involves far more expertise than simple data entry. But sometimes our clients don’t fully realize that.

What To Do About It

Before I show you how you can turn this into a golden opportunity, let me tell you what NOT to do.

Don’t sound devastated when your client breaks the news. If you sound rattled and scared to lose their business, that will only make them not want to discuss alternatives with you. (They likely feel awkward talking to you about it already.)

Instead, step into the role of consultant and explore whether this change truly is the best option for your client’s business success. To do this effectively, you MUST get out of your own way!

DO NOT worry about losing the client. Really. This will likely turn out to be a good deal for you whether the client wants you to continue doing the bookkeeping or not!

Focus fully on your client’s welfare for the moment.

DO look for how you can assist your client to make the best possible decision for his / her success. You will stand out from the “typical” freelancer in this situation. And you will be setting yourself up for success.

Here’s why.

If, in fact, it truly would be a wise decision economically for your client to do the books on his/her own (although, most often, this is simply not the case), some training is definitely going to be needed. Maybe a lot of it. Aren’t you in the best position to provide that training?

Even after the client has been adequately trained (and the client isn’t overwhelmed by what it really takes to get the books done right), s/he will probably need ongoing support. This is especially true if s/he is using QuickBooks. This service alone could actually save the client from making a big mess that will cost much more to clean up in the long run.

You could even offer to do the bank reconciliations and/or set up a regular review of the books on a monthly or quarterly basis, just to make sure everything stays clean and up to date. The client may find this an invaluable service that won’t break the bank.

This type of arrangement is good for your bottom line too because your fee as a trainer and consultant should be at a higher rate than what you’re charging for basic monthly bookkeeping services.

Positioning Yourself As A Consultant

The most important factor in pulling this kind of transition off is to really listen to your client and hear where the pain is coming from. You want to provide highly valuable solutions that your client will appreciate.

If your client really does want you to continue doing the books, but they are simply looking to cut overhead, offer suggestions for where else in their business they might cut some fat that will provide short-term as well as long-term results. Show them how to find these opportunities in their financial reports.

I’ve seen clients whose sole reason for taking back the books was to save money. But they had no desire whatsoever to keep track of their finances. So they soon found themselves in hot water because their bookkeeping records quickly became a disaster. And then, of course, they had to pay big bucks to have their accountant clean up the mess at tax time. Not smart.

Save your clients from this pain and offer a great solution that works for both of you! (Remember: Win-Win)

So whether they keep you as their bookkeeper or not, help your clients to avoid the penny-wise-and-pound-foolish mindset by showing you really care about their success. If needed, help them tighten the belt (as well as identify ways to pull in more revenue) by transitioning to the role of business consultant.

As a valued advisor to your clients, you will make your services indispensable, increase your rates, and hold on to top-notch clients for life.

Who knew the recession could turn out to be such a blessing in disguise?
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~Gabrielle
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Resources

If you are looking for ways to become a QuickBooks trainer or consultant, consider these helpful resources:

QuickBooks ProAdvisor Program – QuickBooks software, training, certification and Train the Trainer resources included in the ProAdvisor Program

Successful QuickBooks Consulting – This is a helpful guide to starting and growing a consultant business that focuses exclusively on QuickBooks. Highly recommended.

Many freelance bookkeepers also do taxes for their clients. That’s probably why I so often hear the question, “Is it necessary to be a tax preparer in order to run a successful freelance bookkeeping service?”

The answer I usually give is…it depends.

Successful Bookkeepers and Taxes

There are many ways to be successful in the bookkeeping field. While tax preparation services can be a good source of seasonal income, it is NOT necessary of offer this service to do well. In fact, there are situations where NOT offering tax services may even be an advantage, depending on how you position yourself.

For instance, if you don’t have experience with tax preparation and don’t want to offer that service, it may be easier to build complimentary relationships with CPAs. They won’t be worried that you’re a threat to their tax clients, who are often their bread and butter. You can position yourself as a strategic ally by referring clients who need tax services, while they refer clients who need help with their bookkeeping to you. This works as a mutually beneficial relationship, especially at year end.

Taxes and Bookkeeping are Not the Same

Bookkeeping and taxes are two different things entirely. True, the information found in a client’s bookkeeping records is used to prepare the tax returns, but that’s where the similarities end.

If one knows only how to prepare individual tax returns, that does not mean that that person can handle bookkeeping. In fact, I know of a CPA who struggles with this very issue with his staff during the off season. His staff primarily knows tax prep. But when he needs them to work on adjusting a trial balance for his business clients, they are helpless.

The reverse is also true. Just because you understand double-entry bookkeeping does not mean you can breeze through tax return preparation. You need to be adequately educated to offer either service if you want to offer that skill to your clients.

Should You Offer Tax Services?

So my first bit of advice is, if you already have income tax preparation experience, and you enjoy it, then by all means consider adding it to your service offerings. It provides a one-stop-shopping convenience for your existing and future clients who may be in need of professional tax preparation.

However, I do NOT suggest that you attempt to “steal” tax clients away from their current preparer, especially if that person is their CPA. A strategic relationship with your local accountants is far more valuable than the preparation of an annual tax return or two. You always want to be building strategic alliances, not promoting adversarial competition.

If you offer tax services, be sure to keep your knowledge up to date. The tax laws change every year, so this is not a service you should offer if you are not willing to invest in ongoing education. Lack of knowledge in the tax arena can come back to bite you hard. The IRS is actively raising the bar for tax preparers and will continue to do so over the next few years. You’ve been warned.

Tax Laws ALL Bookkeepers Need to Know

Up to this point, we have been talking about income taxes. While including income tax preparation to your service offerings is not a necessity, there are some types of taxes you really do need to know about, at least on a basic level.

Most, if not all of your clients will need your guidance when it comes to payroll taxes, state and local sales and use taxes, and possibly meals and/or lodging taxes.

If you don’t already know the ins and outs of these types of business taxes, then you need to educate yourself so you can handle them responsibly. Usually the information needed can be found directly from the taxing authorities at the federal, state and local levels; checking their websites is the easiest option. I’ve included some of the most common resource links at the end of this article.

Pay Attention to Payroll Taxes

Probably the stickiest of business taxes are for payroll. Penalties and interest on mishandled payroll taxes are very stiff. So don’t fake it when it comes to handling your clients’ payroll services. Get help if you need it.

If you are not comfortable with handling payroll taxes yourself, you may want to insist that your clients hire an outside payroll service. These providers are well worth their fees.

Payroll companies not only prepare payroll checks, but they will also prepare and timely file payroll tax returns, seeing to it that your client’s liability deposits are made when due. That is of key importance.

Personally, despite the fact that I have experience handling payroll, I HATE it. So I insist that my clients use an outside payroll service. This keeps my clients out of hot water with the authorities, and lets me focus on the services I truly enjoy providing.

That being said, if you actually enjoy doing payroll, it is a valuable service that can provide a source of steady revenue, if you aren’t already offering it to your clients. The QuickBooks ProAdvisor program has a nice package at a reasonable price for those who provide payroll services to their clients.

It All Depends on What You Want

As is clear from this discussion, there are lots of choices when it comes to taxes and bookkeeping. In reality, you get to choose which combination of service offering will best support what you envision for yourself and your business. Just realize that there are advantages and disadvantages to each situation.

Make Your Choice and Stick With It

Once you’ve decided which service combo is right for you, keep up to date with the education requirements. Provide the best service possible for your clients. After all, that’s why they hire us – for our expertise.

Top quality service will fetch you the best fees and keep your business growing. Happy clients are your best source of new referrals. That holds true no matter what the economy is doing.

So “should” you offer tax services? That’s entirely up to you. It just all depends on your current (or desired) skill set, how you envision your business, and the services you enjoy providing the most.

Resources

National Tax Training School

National Association of Tax Professionals

Federal Income Taxes – Tax Professional Resources

Federal Employment Tax Resources

US Sales Tax Information

Sales Tax Rates Quick Reference List

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WANT TO USE THIS ARTICLE IN YOUR OWN BLOG OR E-ZINE? You have permission to re-publish it, as long as you include the author’s bio paragraph and links below:

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Gabrielle Fontaine, PB is a freelance Professional Bookkeeper and Advanced Certified QuickBooks ProAdvisor. She publishes the free online newsletter, The Freelance Bookkeeper, and is co-author of the new book, “How to Start A Successful Home-Based Freelance Bookkeeping and Tax Preparation Business,” available at Amazon.com

Here’s a solution to one of the most frequent questions I’m asked by my TFB blog readers:

“How do I quickly and easily put up a website that will help build my business?”

There are several ways to do it, but I am very pleased to be able to invite you to a free training webinar that is FULL of extremely important information about not only how to put up a website easily and quickly, but also key strategies to make your website profitable – even if you’ve already got a great website in place.

This is a special time-sensitive invitation…

Click Here => Free Mini-Site Webinar

It’s a new, absolutely free, LIVE *webinar* being offered by my own marketing mentor, Jim Edwards. This special class is called:

“The Ultimate Mini-Site Formula“.

I’m going to be attending this one-time-only training happening THIS coming Wednesday, June 10th. And you are invited to join me.

Regardless of where you are in your business, this live online class contains proven battle-tested blueprints for making your online presence profitable with quick and easy little “mini-websites” you can create yourself in just a single afternoon!

(And if you’re just getting ready to put up your website, this is MUST-HAVE information to make sure your site will actually do the selling for you and make money!)

Get the full story right here:

Click Here => Free Mini-Site Webinar

Using the latest webinar technology, we’ll discover together….

• What exactly is a “mini-site” and why you NEED to have at least one for your business
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• Breakthrough strategies that will help you to set up an autopilot mini-site that brings you a never-ending flow of new leads and customers.
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• The Exact 4-step process every successful mini-site business MUST follow to profit online
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• How to instantly double your mini-site profits just by changing ONE link
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• One of the BIGGEST TRAPS you can fall into that guarantees failure (and more importantly, how to AVOID it!)
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• A detailed run-through of Jim’s Million Dollar “Ultimate Online Success Formula” (That’s no hype, either. Jim is literally a multi-millionaire because of this exact mini-site formula!)
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• Jim says he’ll even create a REAL mini-site LIVE on the Webinar in just 4 1/2 minutes! (And he’ll also show you a 30-second trick for turning this site into profits, almost instantly!)…
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• – And much, MUCH more!

Plus not only will you be able to hear Jim sharing this NEW information, but you’ll also get to SEE and WATCH it happening in real time on your computer screen, complete with LIVE examples! (And it doesn’t matter what connection speed you have or even if you have a PC or Mac.)

I’m definitely looking forward to being on this webinar myself — that’s why I thought you’d want to know about it too. It’s going to to be a first-class event!

I truly hope you can join me. You won’t regret it — of that I’m 100% sure.

Gabrielle

P.S. – Considering it’s been almost ONE YEAR since Jim’s last free mini-site training webinar, and since there’s zero tuition cost for this one-time-only event, Jim told me this will be completely booked up very quickly.

If you’ve ever wanted to use the Internet and a website to build your business, this is one free event you don’t want to miss! I know I’ll be there! Don’t wait and kick yourself later.

Click Here => Free Mini-Site Webinar

In my previous article, The Freelance Bookkeeper’s Credentials, we discussed the training and certifications most often recommended for bookkeepers who gear their business toward straight month-to-month write-up work (aka typical bookkeeping services) for their clients.

If you remain as a one-person business (and you don’t plan to grow your company in the traditional way by hiring employees and/or subcontractors), however, there is a downside.

Your earning capacity is very finite. As a solo bookkeeper, you generally cannot actively handle more than 10 or 20 clients at any given time. Of course, the number of clients you are able to serve is also affected by their business volume. But once you reach your capacity, you will likely need to turn away any new clients that come your way. And then the only way you can make more money is to raise your rates.

That is not a bad thing, just a limitation to be aware of.

Working alone as a solo freelancer may also severely limit your schedule flexibility, since you will have a good deal of labor-intensive work to deliver every single month.

However, viewed from a more positive angle, if your income goals are quite modest and you prefer the relative income security of doing month-to-month bookkeeping, this business model might be the perfect fit for you. And these days there’s something to be said for stable cash flow and a predictable workload.

So what’s my point? It’s this: Doing monthly bookkeeping work is just one option; it’s not your only option as a freelance bookkeeper. Not by a long shot.

Bigger Goals and More Adventure

If you already have substantial bookkeeping experience and have a firm handle on accounting mechanics, AND you’re the type who would feel tied down or bored working for the same clients doing the same work month in and month out, then maybe positioning yourself as a consultant is a better fit for you.

As a consultant, you can charge much higher fees than a bookkeeper generally can. So it is easier to build your business to the six-figure level, without the need to hire employees.

Additionally, there are different types of consulting service you could provide. In my own experience, there are many business owners who are starved for someone to fill the role of their business consultant. Because bookkeepers have an intimate view of the numbers, you are in a unique position to fill the gap left by many accountants who see their clients only at tax time.  If you have the experience and inclination to work with your clients from a big picture perspective, consider this type of consulting.

Other consulting specialties might have to do with cash flow or credit management, or dealing with employment issues, or even tax planning, if you have those types of qualifications.

But no matter which consulting needs you fulfill for your clients, you will be working with QuickBooks. No doubt about that. Transitioning or building your consulting services around QuickBooks is a natural – and lucrative – option all by itself.

The two main areas I’ve seen that work well are QuickBooks training and troubleshooting. There is also a high demand for set up of new QuickBooks installations.

QuickBooks Credentials

As with bookkeeping credentials, you have several choices. And whenever new freelancers ask, I have a definite opinion about which certification(s) I recommend.

Intuit, the makers of QuickBooks, provides two certification programs for their software – one for users and one for accounting professionals who want to become what they call ProAdvisors. If you want a professional credential that you can highlight to your clients, being a Certified QuickBooks ProAdvisor gets my highest recommendation. One of the big reasons I recommend it (besides the fact that the ProAdvisor program provides you with many, many excellent tools to build your QuickBooks consulting practice), is because of the credibility you get with being certified by the company that makes the program!

Among others, there are also certification programs available through NACPB and Universal Accounting. Now to be fair,  I have not thoroughly evaluated the content of these programs, so I cannot make a recommendation either way. They are likely to be helpful for expanding your knowledge of QuickBooks as a service provider, to be sure. But as a certification for credibility with your clients, they will not carry as much weight as the one provided by Intuit.

If you are not so concerned about having a certification for marketing purposes, but more focused on a deeper working knowledge of QuickBooks itself, my best recommendation for learning the program inside out is the training (and they also have a certification program) provided by the Sleeter Group. The depth of their training information is second to none. They also have an in-depth QuickBooks Consultant’s guide that will be your best friend when working in the trenches.

It’s Always a Package Deal

As with most businesses models, being a consultant is a package deal too. Yes, you can make more money and have greater flexibility over your schedule. But you may be exposed to a possible roller coaster income ride too. When you work on a project basis, you are more likely to have many gigs all at once, and then suddenly nothing.

There are ways to even out the cash flow to make it more steady as a consultant. But that is a topic for a future article. I just want to let you know that you may have to watch your step if you decide to move up to the world of consulting. Though I personally prefer it.

If you want to explore the world of QuickBooks consulting, I’ve included a couple of excellent books on the topic in the Resource list below that you should look into before you make the leap.

Bottom line: Both business models have their advantages and disadvantages, and you may even decide on a mix of both typical monthly bookkeeping services and consulting projects. Just always remember, you are the boss and that’s why they call it FREElancing!

Tell us about your plans, or if you’ve had experience with any of the QuickBooks certification programs, how have they worked for you? Comment below and let’s tawk!

Gabrielle

RESOURCES

Successful QuickBooks Consulting

QuickBooks Solution Guide

QuickBooks Certified User Program

QuickBooks ProAdvisor Program

NACPB QuickBooks Certification

Universal Accounting QuickBooks Specialist Designation

The Sleeter Group

One of the most common questions I hear about becoming a freelance bookkeeper is, ‘What credentials do I need?’

The real answer to that question has more to do with the type of freelance business you want to build. But for the purposes of this article, we will assume that you are focusing on handling the month-to-month bookkeeping of your clients as their sole bookkeeper.

You’ve Got Choices

I’ve found that most freelance bookkeepers are concerned with the technical skills needed to provide quality service. Of course, that is a good place to start.

So, if you’re starting from zero, the first step is to learn the ropes academically. Here are a few choices to consider:

the basics you need may be available locally in a classroom setting. Check a nearby community college or continuing education programs to see if there are any live classes offered for bookkeeping certificate programs.

If that is not available in your area, or you can’t fit classroom training into your schedule, you may want to consider self-study training courses available online. Penn Foster Career School offers a couple of choices for self-paced training that are good quality.  You can either get a Certificate in Accounting or take their Bookkeeping program.

Universal Accounting’s Professional Bookkeeper training is another option.
This training is a self-study program that takes the traditional paper-and-pencil approach. It is a course that centers on small business bookkeeping, designed and taught by a CPA. It also includes a module on practical steps for starting your freelance business.

Are You Certifiable?

If you already have a good understanding of bookkeeping principles, but want the credibility (and confidence) that comes with a few letters you can add after your name…

AIPB’s Certified Bookkeeper training which provides the CB (Certified Bookkeeper) certification is probably your most economical and recognized option for a professional bookkeeping designation. This is a thorough self-study, traditional debits-and-credits approach from the oldest industry association for our profession. I suggest that you pursue this after you already have a good, basic understanding of bookkeeping under your belt. You will also need some on-the-job experience in order to qualify for the certification.

NACPB’s Certified Professional Bookkeeper training provides the CPB (Certified Public Bookkeeper) designation. This is another self-study training option geared toward those who wish to start their own bookkeeping business, created by a CPA.

Of course, the best training, after you have the academics down, is real-world experience. But you can only get that kind of “training” by actually doing client work.

There are a variety of ways to get that hands-on experience, which range from offering to do the books for a friend or two who own businesses, to subcontracting from an established freelance bookkeeper, to working directly for an accounting firm. Working as an accounting temp may also give you the opportunity for varied experience, if you can land gigs with small businesses. (Experience with large corporations will be of little help in running your freelance bookkeeping business.)

Of course, it goes without saying (though I’m saying it here), you will also want to set up your own set of books and keep good records to apply what you’ve been learning AND see how it feels to be a business owner!

Finally, when you’ve got the bookkeeping principles and practices firmly ingrained, there will be one other major learning curve to tackle in the freelance bookkeeping puzzle. You must learn to use QuickBooks. The vast majority of small businesses use this software, and you will need to learn to use it correctly and well. Just knowing accounting principles does not mean you know how to use this “user-friendly” software accurately.

There are many bookkeepers (as well as CPAs!) who think they can just “fake it” with QuickBooks. That is certainly not the case, and those who do, often cause their clients frustrating problems rather than providing quality services.

So in my next article we’ll tackle this topic – Which QuickBooks credentials and training do freelance bookkeepers REALLY need?

In the meantime, if you need to brush up on your bookkeeping know-how, or start pursuing a certification program, for credibility and confidence before starting your business (or to enhance your existing services), then check out the options above and take action this week. Then let us hear about your success!

Remember, in tough economic times, small business need to have clean books more than they do in fat economic times. Opportunities abound in any economy for qualified freelance bookkeepers.

Of course, if you have questions or experiences you want to discuss about bookkeeper credentials, go ahead and click on the Comment link on the right side below my name below! I’d love to hear your thoughts on this (sometimes controversial) topic as well!

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Gabrielle

If you haven’t heard, Intuit, the makers of QuickBooks software, is putting on a virtual trade show / conference for accounting professionals this coming week.

As part of its “Power to Get More Done” campaign, Intuit understands that professionals, now more than ever, are in need of affordable resources. With this in mind, Intuit Academy Virtual Conference attendees will benefit by saving time and travel costs with 24-hour access to the virtual tradeshow and self-study training resources.

In addition to many other courses, attendees will to learn about:

• Products for Accounting Practices – QuickBooks Premier: Accountant Edition, Intuit Statement Writer & Client Data Review, and QuickBooks Enterprise Solutions.
• Products for Tax Practices – Lacerte & ProSeries
• Products for Clients – QuickBooks Pro and Premier, QuickBooks Point of Sale 8.0
• Partner & Networking Programs – QuickBooks ProAdvisor Program & QuickBooks Setup and Training
• Certification – QuickBooks ProAdvisor Certification Preparation
• Less Paper Solution Series – Lacerte Document Management System and Intuit Document eSort

This is the first annual Intuit Academy Virtual Conference designed as an educational event especially for tax and accounting professionals. You can learn from the comfort of your homes or offices. Similar to an in-person trade show, you can log-on and interact with Intuit product experts at the virtual booths, talk to peers as well as a panel of industry experts, and participate in informational webinars. You can also access Intuit’s Live Community and Intuit Academy’s training services to get your questions answered throughout the two-day event.

It all happens on Wednesday and Thursday, January 21 & 22, from 11:00 a.m. to 5:30 p.m. EST, with on-demand access to self-study courses and other resources

Like most trade shows and conferences, you must Register before you will be able to participate in the event

The best part is the whole thing is free.

It’s worth it to drop by and see what Intuit has to offer. Remember, they realize that it is in their own best interests to work with us who are in the trenches, since if we are excited about QuickBooks and well educated, that only helps them to hold onto their #1 position for small business accounting software. Everyone wins.

In particular, if you’re part of the QuickBooks ProAdvisor program but have yet to get certified, there is a training class available on preparing for the Certification exam that you may want to check out.

Be sure to register as soon as possible, since on their website it seems there may be a significant delay (3 business days?!) between the time of registration and the time you will give your log-on information. (Looks like Intuit is learning how to navigate this virtual routine too! )

I’m going to drop by and check it out myself.  Won’t you join me?

Register Here

When you decided to start your own business, did you realize that you’d chosen something that ultimately only about 5% of the general population ever accomplishes?

If you succeed and prosper with your business, you are part of a very exclusive club indeed. That’s because far and away the majority of all small businesses fail. We’ve all heard the bleak statistics.

But why do so many fail so miserably?

Often it’s because when success isn’t realized as quickly and as easily as expected, most would-be entrepreneurs just throw in the towel and give up. They conclude that they just can’t do it.

But is there a secret key to running a successful small business that most everyone is missing? And do you need that key to start a profitable freelance bookkeeping business as well? Yes, there is, and yes, you do.

Since I started writing articles like this one, more than a few people have approached me for advice on going freelance. In fact, just this week I was chatting with a CPA who has been working closely with many small businesses for over 10 years. He’s seen firsthand those that have succeeded and those that have failed. A few weeks ago he resigned from his job. He’s decided to start his own accounting practice.

But there’s a problem.

He confided that now he is quite worried about his plan. In fact, he told me that if a high-paying offer from another employer should happen to fall into his lap, he’ll immediately abandon his entrepreneurial aspirations.

I have serious doubts about whether he’s got what it takes to make it in his own business.

And then there’s the case of a young woman who has a good business sense who used to call me periodically for advice on setting up her freelance bookkeeping service. Not long ago, she missed our telephone appointment. I haven’t heard from her since. On that call she was supposed to have come up with her own version of a client contract that she would use in her new business, based on some guidance I had given her.

It seems that she may be missing the key as well.

I could go on with many more real life examples, but I bet you’d rather know exactly what this key is, and more importantly, figure out whether you’ve got it or not!

The key is positive, proactive persistence.

Back in 2005, an article in Psychology Today stated, “Psychologists have found that the ability to persist in the face of obstacles is at least as important a factor in success as is talent.” 

Chew on that for a minute.

Habit #1 in Stephen Covey’s The 7 Habits of Highly Effective People is, “Be Proactive.”

And the power of positive expectations has been studied and documented in medicine as well as education, time and time again. They are known as the Pygmalion effect and the Placebo effect.

Is it any wonder that the combination of a positive, proactive persistence in the building of your business just might make a significant difference when it comes to your success?

Persistence is extremely important when you work for yourself. You must take the initiative to keep the billable work coming in to pay the expenses. The ability to persist with positive expectations in the face of obstacles when the going suddenly gets bumpy will serve you far better than an alphabet of academic designations strung after your name ever will.

Calvin Coolidge really hit the nail on the head when he said…

“Nothing in the world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent.”

So what does all this mean for you and your freelance bookkeeping service?

It doesn’t take any special genius or talent to succeed. You might want to learn the technical skills involved in doing the bookkeeping work. But then again, that’s not absolutely necessary. You could instead, hire someone else who’s far more skilled than you are at doing the billable work, if you want. It’s really not the technical skills of bookkeeping that will make your business prosper.

It’s your determination to use the true key to success: Positive, proactive persistence. If you do, sooner or later you will reach your goals.

It’s “sooner or later” because you will also make mistakes along the way. There’s no doubt about that. You’ll face many problems too. You may even need to work much longer and harder than you ever imagined necessary. But if you refuse to give up, if you proactively keep paying attention to what’s working and expect success, you WILL make it.

Be determined to do it and don’t give up!

A line from the song that has become the theme for my own business success is from ”Icarus Ascending” by Dan Fogelberg. The line is…

“There is a gamble in each proud act of flight,
but the losses pale before the winnings.”

I truly believe this, when it comes to taking your business to the next level. If you do too, then be determined to always use the key to success to reach your goals–positive, proactive persistence–and it will unlock the door to winnings for you as a freelance bookkeeper.

Now you know the secret.  So the next question is, what are you going to DO about it?

***Special Resource***

This neat little video (created by my favorite business mentor, Jim Edwards) reminds me why I went into business in the first place. It’s truly inspiring. You will also see the tool I now use to put positive, proactive persistence into action in my business every day. Enjoy!—->Watch Video Now

WANT TO USE THIS ARTICLE IN YOUR OWN BLOG OR E-ZINE? You have permission to re-publish it, as long as you include the following author’s bio and link:

Gabrielle Fontaine, PB is a freelance Professional Bookkeeper and Certified QuickBooks ProAdvisor. She also publishes an interactive blog especially for bookkeepers who are ready to break free and run their own home-based bookkeeping service. Get more information at http://TheFreelanceBookkeeper.com

That’s a question we all get asked at least occassionally. But how you choose to answer it can have a significant effect on your bottom line.

I’m very pleased to announce that that’s why I’ll be hosting a brand new teleseminar, “Effective Networking Made Easy” next week on January 8th with my special guest, Networking Expert Karen Frank.

I’m making this live training class available to you at no charge because I know that having a simple yet effective way to introduce yourself and master the art of networking will help you jump into 2008 with one of the most powerful marketing tools known to man – word of mouth.

To register for this special event, or to learn more about the class, go to: www.bookkeepingdirect.com/networking/