Bookkeeping is the sole of accounting, which itself, is the sole of business, yet many organizations and rich individuals do not do it.
What most people do is make sales, take cash to the bank, withdraw and make more purchases and make more sales. Costs are not separated to expose the leaks. Many stores do not even have stock cards. I wonder how they survive.
What you do is once or twice your man calls to post the books. If the Organization’s business is large enough, you may need to station a clerk there permanently.
This business does not need much money to take off. The most important thing is the skill. Like all things, if you do not have, you can purchase. Take tutelage or hire an experienced person and learn as you practise.
You do not need any license to practice and you do not even need to be an accounting graduate. As a matter of fact, most people doing bookkeeping in companies are not accountants.
Mostly, they are school certificate holders or old WASC people who have refused to develop themselves. Definitely, an office and an impressive one for that matter is paramount not as much for work as for prestige.
Your potential clients are merchants, small businesses without accounts section such as schools, pure water concerns, printing presses. Your market is large. The greatest challenge you may have is to convince them of what they stand to gain. This should not be difficult.
First, they will be able to see the business more clearly; they can see what profit they are making and see leaks to block. More importantly, their banks will like it and respect them for it. In any case, if they need the banks assistance the bank will insist on proper bookkeeping.
Frequently, you will hear statements like “that is how our fathers have been doing it”. Tell them things have changed and give examples of his contemporary who are into it. Charge reasonably and for this you can ask those already on the field.
The necessary accounting stationery they will buy through you, which is another source of revenue. Therefore, if you live in Ibadan try them at Gbagi and Aleshinloye, those in Kano talk to them at Fege Market, Aba people, see them at Ariara market.
Talk to the small companies too, pure water people, you will be amazed that many of them do not keep records.
MARKETING. This is not a business of handbill distribution or posters. Introduce your outfit on your cute letter-head with well-crafted
Do not write an epistle, they will throw it away and please deliver by hand. What your outfit does, what your customers will gain and who are behind the outfit will suffice.
Follow up with personal visit not reminders. This is a personal service, your presence is important. Please dress like a finance man. Put on white or blue shirt and a tie of course.
CAVEAT. Do not cook books. Show your client the real picture.
Otunba Jide Omiyale (MBA,FCIM)