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Pros and Cons of Starting a Bookkeeping Business

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Pros and Cons of Starting a Bookkeeping Business

Pros:

•You are the boss
•You make the hours
•You make more profits
•You do not need a degree
•Your bookkeeping business will not be expensive to start up
•Yours is the satisfaction, knowing your company is yours to do with as you please, while reaping all the rewards of your time and efforts
Cons:

•Good or bad, you are accountable for it all
•Before seeing significant results you will put in a lot of hours
•You need to find your own business clients
•Experience, knowledge and skills are required
•You are responsible for staying current with your bookkeeping skills, staying ahead of the competition as well as building a successful company
•The start-up costs will come out of your available cash
Considering These Things: Are You Ready to Be Your Own Boss?

Being your own boss means there is no boss over you. Your clients will look to you and keep you in check and there is no one to pass blame off too when you are the boss.

You call all the shots and are the only person that clients may blame if they are unhappy with services.

You get to make your own hours when you have your own company. There is no boss urging you to quota, of complaining if you do not show up for work on time. You never have to ask anyone for a day off for a vacation or to attend a school play.

However, you will most likely work long hours, in the beginning to get your business off the ground. You will not always be compensated for your time. For instance, you may be paid by the hour and not for billing, marketing or managing your business.

You may or may not have to work 9 to 5 as well as the rest of the time. When you have your own business, you need to be organized and disciplined with time and effort. This helps you not feel like your bookkeeping business is non-stop and you never get a break.

The best part: you can make more by the hour with several part-time clients than you can make working another full-time job and it is a low cost business to start. So are you ready to give a bookkeeping business a try?

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