The Freelance Bookkeeper

As you might expect, different bookkeepers answer this question differently.

Your answer will likely depend on your budget and the ultimate goals you have for your business.

There are actually more than three choices, when you are talking the working space of a freelance bookkeeper. You could set up your business in your home (a spare bedroom or finished basement can be ideal). You could rent commercial office space. Or you could even work at your clients’ locations.

What’s most important in making the decision about where you will work (at the risk of sounding like a broken record), is that you should be very clear on how it will affect your ultimate business goals. What will your business be like when it is running exactly the way you want it to be?

• Will you want to be home for the kids?
• Will clients be meeting you in your office?
• Will you hire employees?
• Are you self-disciplined with your time?

Questions like these will help you to determine where your working space should untimately be located. Even if you want to, but can’t afford moving into a commercial office right now, it is important to stay focused on where your final business destination will be (whether commercial space or not) so you can keep your operations progressing forward consistently toward your goals.

In my own business history, I’ve worked from a home office. I’ve also worked at my clients’ offices. And yes, I’ve even had a rented Main Street commercial office space complete with employees. Reality is, nothing is perfect. Each situation has its own set of advantages and disadvantages.

For my current business goals, I prefer to work in a home office. But to help you make the best decision for your own freelance bookkeeping business, I’ve outlined some of the most obvious advantages and disadvantages of each working situation below.

Home-based Office

• Advantages:
  • No commute
  • Flexible hours / available for family
  • Low overhead
• Disadvantages: 
  • Clients may not perceive you as professional / expect lower rates
  • Clients will call and/or show up at your home 24/7
  • Family may not respect your work space, privacy or hours
  • You must be self-disciplined to use your time effectively
  • You may feel lonely working isolated from others
  • Laws may prevent you from hiring employees to work in your home
             

Commercial Office

• Advantages:
  • Clients immediately perceive you as a “real” business / professional
  • You work normal business hours
  • You can hire employees
  • Better visibility and credibility in the business community
• Disadvantages:
  • Substantial overhead
  • Walk-in clients, salesmen, and/or people looking for a job
              

Working On-Site in Your Clients’ Offices

• Advantages:
  • Very low overhead
  • Keeps you on a schedule
• Disadvantages:
  • Clients may expect to pay you the same hourly rate as an employee
    (without the benefits)
  • Always working on others’ computers not your own
  • Client may ask you to do extra work on the spot, free of charge
  • Travel may reduce your productive / billable time
             

Visualize each working environment ”package deal” of pros and cons, as it relates to your business situation, and then make your choice. Your wants and needs are unique to you. Advantages to one person may turn out to be disadvantages to another person. Go with what will fit best with your specific goals and ultimately manifest the “ideal business situation” for your bookkeeping service. Remember, you’re the boss!

As Stephen Covey recommends in his classic book, The 7 Habits of Highly Effective People, “Begin with the end in mind” and you will be well on your way to moving your business in the direction of your dreams.

After you’ve made your decision, I’d love to hear about it! 

What advantages and disadvantages can you see that will affect whether you work in a home based, office based or clients’ office working situation? 

By comparing notes we can all benefit from the experience and resulting synergy! Add your comments below.

Happy freelancing!

~Gabrielle

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