Do you love accounting? Are you thinking about becoming a freelance accountant? Freelance accounting may be just what you need to make some extra money in your spare time.
It may also be just what you needed to quit your regular 9 to 5 and launch your own business. Whatever your plans there are some things you need to know before you head into the world of freelance accounting.
Here are the major things you need to bear in mind.
Get Qualified
The right qualifications are important if you are going to become a successful freelance accountant.
You must make sure that you have all the right qualifications and have been certified. Advanced degrees in the field are particularly helpful. Freelance accounting with an MBA can be more profitable than with just a Bachelor’s degree.
Make sure that you sign up for all the professional organizations available where you reside. This will help to make your small business look legitimate in the eyes of potential clients.
Create a Business Plan
Every business must have a model that it follows and in order to get on the road to success you need to decide what yours will be. Decide on the type of clients that you want, and place this in your business plan.
For example, do you want to work with small businesses or do you prefer to work with influencers? Deciding on a niche can help you to become an expert quickly and gain trust. This will help you to get more clients.
Legalize Your Business
Legalizing your business is very important as a freelance accountant. When you are dealing with people’s accounts you need to protect your assets.
Disgruntled customers may decide to sue you. When your business has become a limited liability company if you get sued your personal assets will be protected. They can only go after what is in your business bank account, and other business assets.
The bottom line is that a lawsuit can happen at any time and you need to be prepared for it whenever you are in business.
Forming a limited liability company (LLC) also makes it easier for you to do your taxes. Don’t be so caught up in doing other people’s books that you forget to do your own.
Launch Your Business
The next order of business will be to find clients. One of the best places to start is on social media.
Create an account on social media platforms and start a website as well. Start writing blogs and articles on your website about what you do and use search engine optimization to drive traffic to your business.
Post regularly on social media and follow people who might be interested in your services. Interacting with them in this way can gain attention for your business.
Start Your Business
Take the time to plan everything over ahead of time and you will succeed. Make sure that you clearly identify who your potential clients are. Identifying your clients, finding them on social media and connecting with them is the best way to secure your first clients.
You also need to make sure that you are protecting yourself legally. This is why you need to ensure that you register your business as an LLC. This will also make it easier for you to keep track of your taxes.