Accountant and Bookkeeper Articles

Have you ever considered starting your own accounting practice? What’s keeping you from taking the plunge? There are countless things motivating entrepreneurs to start their own businesses; and not all motivators are created equal. What would motivate you to take your mark, and startup?

Purdue University conducted a survey between 2004 and 2006 in which they questioned 101 Indiana entrepreneurs to see what motivated them to start their own businesses. They found that those making more than $100,000 a year were less likely to start their own businesses than those in the $50,000 to 75,000 range. They also discovered that those who had developed a business plan were more likely to move forward than those who had not. Included in these business plans were industry analysis, marketing goals and pricing structure. Maria Marshall, a Purdue agricultural economist and the study’s lead researcher, said, “Learning more about the industry you’re going into goes hand-in-hand with writing a business plan. People sometimes tend to overlook business plans, but I think they are very important.”

Aside from creating a business plan, there are other things inspiring entrepreneurs to start their own businesses. Here are just a few:

Make more money.

In Entrepreneur.com, Tamara Monosoff interviewed renowned entrepreneurs and asked what motivated them to start their own businesses. Rachel Ashwell, founder of Shabby Chic, explained that she was driven to it out of necessity. Separated with young children, Ashwell decided to start her own business selling refinished furniture pieces. It wasn’t long before her unique style became popular. Shabby Chic has grown to include a line of slipcovers, bedding, home accessories, and even books.

Be your own boss.

An informal survey run by Yahoo questioned small business owners and found that 24.3% started their own businesses in order to answer to themselves rather than someone else. These individuals are tired of watching others make all the important decisions and desire the opportunity to take a business by the horns.

Test a brilliant idea.

Some entrepreneurs have what they consider to be a brilliant idea that just needs development, financial backing and exposure. They believe that once this idea gets off the ground it will attract countless buyers. Monosoff found that Tomima Edmark was just one of those entrepreneurs. She had hit the glass ceiling in the corporate world and felt her idea for a hair accessory was brilliant and worth pursuing. After earning the funds to launch her new business, TopsyTail, she went on to make $100 million in sales.

Make a difference.

Some entrepreneurs aren’t so much interested in their potential earnings as they are making a difference. Julie Clark, founder of Baby Einstein, wasn’t interested in making a load of cash or even starting her own business. She was most interested in creating educational videos for her babies because she felt there was nothing else available on the market. Years later she sold Baby Einstein to Disney for $50 million dollars and used her earnings to launch yet another business. Maxine Clark, founder of Build-A-Bear Workshop felt the same way. Successful in the corporate world and living comfortably, Clark didn’t start her company to make millions; she did it because she wanted to have a positive impact on the lives of countless children. Fortunately for her she accomplished both.

Enjoy greater flexibility.

In the Yahoo survey mentioned earlier, 21.4% of small business owners said they were interested in enjoying a more flexible work schedule and quality time with their family. When you start your own business not only do you become your own boss but you’re able to enjoy a more flexible work schedule designed by you!

So what motivates you? Could more information help? If you believed that starting your own business was achievable, profitable, and easy, would you do it? UAC’s video, Start Today and Have Your Own Bookkeeping Service, will show you that growing your own accounting practice is all three of those things: achievable, profitable, and easy. For less than $10 you can discover that, regardless of what’s motivating you, starting your own bookkeeping service is definitely within your reach. Order now!

Resources

Monosoff, Tamara. “What Inspires People to Startup?” 22 August 2007. Entrepreneur.com 9 June 2008. http://www.entrepreneur.com/startingabusiness/inventing/inventionscolumnisttamaramonosoff/article183286.html

“Small Business Owners Reveal What Motivates Them.” Yahoo! Small Business 9 June 2008 http://smallbusiness.yahoo.com/r-article-a-80400-m-1-sc-12-small_business_owners_reveal_what_motivates_them-i

“Survey Looks at What Motivates Entrepreneurs.” 28 March 2007. Inside Indiana Business 9 June 2008. http://www.insideindianabusiness.com/newsitem.asp?ID=22501#middle

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