[et_pb_section fb_built=”1″ custom_padding_last_edited=”on|phone” _builder_version=”4.23″ custom_padding_tablet=”” custom_padding_phone=”0px||||false|false” global_colors_info=”{}”][et_pb_row column_structure=”1_3,2_3″ _builder_version=”4.23″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” width=”100%” custom_padding=”||0px||false|false” global_colors_info=”{}”][et_pb_column type=”1_3″ module_class=”table-contents” _builder_version=”4.23″ background_color=”#f3f2f6″ custom_padding=”25px||25px||true|false” sticky_position=”top” sticky_limit_bottom=”section” sticky_position_tablet=”top” sticky_position_phone=”none” sticky_position_last_edited=”on|desktop” pac_dcm_carousel_specific_module_num=”0″ border_radii=”on|24px|24px|24px|24px” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.23″ text_font=”||||||||” locked=”off” global_colors_info=”{}” background__hover_enabled=”on|desktop”][\/et_pb_text][\/et_pb_column][et_pb_column type=”2_3″ _builder_version=”4.16″ custom_padding=”|||” pac_dcm_carousel_specific_module_num=”0″ global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text admin_label=”Copy paste body text here” _builder_version=”4.21.0″ header_2_font_size=”32px” header_2_font_size_tablet=”30px” header_2_font_size_phone=”26px” header_2_font_size_last_edited=”on|tablet” global_colors_info=”{}”]<\/p>\n
Want to start a bookkeeping business? Launching a small business is an entirely achievable goal for anyone with the education and dedication. Whether you plan on working from home, opening a brick-and-mortar business, or exploring some virtual bookkeeping services as a side hustle, you\u2019re going to need to plan it out.<\/p>\n
There\u2019s no use jumping straight in without a business plan \u2013 you\u2019re going to miss a lot. But planning doesn\u2019t mean you have to have everything thought out from the very beginning, your ideas will evolve. However, before getting ahead of yourself, you should at least flesh out the bones of your plan.<\/p>\n
In simple terms, your business plan will lay out what type of business you are, what services you\u2019ll offer, how it will be structured, how you\u2019ll fund it and how you\u2019ll handle financial matters including growth. It will essentially spell out your business model.<\/p>\n
Many financial institutions will request to see your business plan<\/a> before they give you a loan, so be sure you also include plenty of financial details and projections if that\u2019s something you\u2019re seeking.<\/p>\n <\/p>\n [\/et_pb_text][et_pb_image src=”https:\/\/www.reckon.com\/au\/wp-content\/uploads\/2023\/07\/Creating_your_bookkeeping_business_plan.png” alt=”Bookkeeping business plan elements” title_text=”Creating Your Bookkeeping Business Plan” align=”center” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][et_pb_text admin_label=”Copy paste body text here” _builder_version=”4.21.0″ header_2_font_size=”32px” header_2_font_size_tablet=”30px” header_2_font_size_phone=”26px” header_2_font_size_last_edited=”on|tablet” global_colors_info=”{}”]<\/p>\n Let\u2019s unpack these elements a little further\u2026<\/p>\n Your business overview is essentially a cover page. It includes things like your trading name, ABN, website, address, contact details, and what type of business it is (sole trader or partnership et cetera).<\/p>\n Your executive summary is usually no more than a page. In a sense, it is like a cover letter that summarises who you are; what you\u2019ll be doing; the problems your bookkeeping business solves; and how you\u2019ll operate.<\/p>\n It\u2019s sometimes useful to write this last\u2026that is after<\/em> you\u2019ve figured out the other sections of your bookkeeping business plan.<\/p>\n In this section of your business plan, you should lay out the team structure<\/a> and identify roles. If you\u2019re going it alone this is extremely simple, but if you plan to run a larger bookkeeping business<\/a>, you should create a team structure tree to identify what employees you\u2019ll have, what they\u2019ll be doing, and who they report to.<\/p>\n At this juncture, it\u2019s time to crystalise what services you will and won\u2019t offer. Perhaps you\u2019ll be doing:<\/p>\n Your operations will be how and where you\u2019ll operate. Will your business be bookkeeping from home? Will you need to lease an office? What equipment and practice management software will you require? Will you be an in-person bookkeeper or offer remote services<\/a>? Map it all out in this section.<\/p>\n Your market analysis will be a deep dive into your target market<\/a> and prospective clients. Figure out which type of business you\u2019ll target, what their needs are and how you\u2019ll meet them. This section also maps out the size of your market and things like reasonable price points an ideal client might pay for your services.<\/p>\n Your competitor analysis will involve researching the competing bookkeeping businesses in your space. If you\u2019re geographically fixed this will involve your local area<\/a>, and if you\u2019re remote, then look to the broader country. Research to find out their price point, service style, marketing efforts, website setup and what they specialise in. Use the findings to differentiate yourself, become more competitive or to simply gather some ideas.<\/p>\n Lay down a basic bookkeeping marketing strategy and plan with an associated budget and content calendar. Think about how you\u2019ll promote yourself, such as a Facebook business page and other social media, online ads, solid website, SEO, and email marketing<\/a>.<\/p>\n Luckily, as a bookkeeper, you\u2019ll be well versed in financial analysis. This is where you calculate the costs of starting a bookkeeping business, figure out running expenses, ascertain your potential cash flow and profitability, set up a budget, and plan things like financing options if required.<\/p>\n Now you need to do some projections on where you want to be in a few years. Be specific yet flexible. Do you want to grow<\/a> your client base by 20% a year? Do you plan on broadening your services<\/a> or getting more niche<\/a>? Where do you project your profits will be in 2 years? Will you look to take on some staff? You can use your accounting software<\/a> to assist here.<\/p>\n Luckily, you don\u2019t need to start this important plan from a blank Word Document. We\u2019ve done the work to gift you a free business plan template<\/a> that\u2019s designed for any new enterprise to get off the ground.<\/p>\nThe key elements that should be included in any business plan<\/h3>\n
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1.\u00a0\u00a0\u00a0\u00a0\u00a0 Business overview: your cover page<\/h3>\n
2.\u00a0\u00a0\u00a0\u00a0\u00a0 Executive summary: who you are<\/h3>\n
3.\u00a0\u00a0\u00a0\u00a0\u00a0 Team and management: who\u2019s working for you and how?<\/h3>\n
4.\u00a0\u00a0\u00a0\u00a0\u00a0 Products and services: define your business offering<\/h3>\n
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5.\u00a0\u00a0\u00a0\u00a0\u00a0 Operations: how will you do the work?<\/h3>\n
6.\u00a0\u00a0\u00a0\u00a0\u00a0 Market analysis: identify your target market<\/h3>\n
7.\u00a0\u00a0\u00a0\u00a0\u00a0 Competitor analysis: who will be vying for your customers?<\/h3>\n
8.\u00a0\u00a0\u00a0\u00a0\u00a0 Marketing plan: how will people find you?<\/h3>\n
9.\u00a0\u00a0\u00a0\u00a0\u00a0 Financial analysis: crunch your numbers<\/h3>\n
10. Future and Goals: outline your business projections<\/h3>\n
Bookkeeping business plan template<\/h3>\n
Business plan tips<\/h3>\n