Tuesday, January 19, 2010
Never lose sight of your dreams.
So I have been thinking for the longest time to go ahead and seek and fulfill my passion of starting my own business. I know this will take tine and a lot of effort, personal, financial and the commitment that it demands will be overwhelming at times. But I think the effort and hard work will pay off if I remain persistent.
Back in 2007 when I graduated college I had a very hard time finding a job so I looked in my family and I see that every one over the age of 20 has an Accounting Degree, being 20 at the time my idea was not taken seriously by the other members of my family who already have their Masters but all work for Accounting firms like slave for 12-15 hour a day.
My suggestion was to start an Accounting firm “Jackson Accounting & Advisory” to which I was really passionate about, before the year ended I land a job and lost focus of my dream for a minute, now almost two years at my job and looking forward to starting my Masters Next Semester it has come to my attention once more that this is the right tome for a business of the nature.
A business of this statue does not take much capital to start up I foresee the most expensive thing being an office space which is not necessarily needed at initial start up as I could work from my home office which is in my garage (Not the office you though right) its very spacious and for right now is very comfortable for me.
Some might wonder why get into Accounting business there is so much accounting firm out there, well from my experience accounting services is one of the most expensive administrative services and is need by most business, the target market I would try to reach is small business and not for profit organizations with low overhead my service will be very affordable, even though accounting services is expensive it is less expensive than hiring someone full time as a bookkeeper, your have to pay that person an salary first expense when thinking about this is taxes, then health care which is another big expense on and employers books, we as employee often think we pay a lot for health care when intern most company pays 75% of the cost of health care for us. From my experience as an Accountant I have seen insurance being a very big item on Balance sheets, from heath care to, unemployment, life they are all very expensive items.
With this realization more and more companies are outsourcing their staffing in an effort to cut the above mention cost, we all see it all around us, everyday a new staffing firm comes out the wood works. I am saying this to say the potential is there for my business to do well, once I keep building my contacts with Auditors and CPA’s who could in the future refer me to client, one thing every Accountant\CPA love is well kept books it makes the job so much easier.
As I sit in my car with my MackBook writing this along with my business plan I am very much excited about the potential that my business have if I continues to keep focus and work on the very well written plan, this blog is a reminder of one of the most important things I have to achieve in my twenties.