Accountants spend thousands of Pounds on formal education and professional accounting qualifications only to be begging for jobs at the end of the day. This should not be the case if you are equipped with both the technical and soft skills of a hybrid accountant.
What is the point of knowing so much about business and how it works if you cannot start up one for yourself? As professional business advisers, we as accountants can quickly transform our business and accounting training into money making ventures that will stand the test of time.
The points discussed in this article can be practiced alongside your other day to day activities and still make substantial money as an accountant by just being an accountant entrepreneur.
7 Ways of making money as an accountant both online and offline
A. Selling your accounting knowledge online
There are tools and technologies that can now allow you to sell virtually any kind of knowledge you have. I personally sell my accounting skills on some membership websites- I will not tell you the one I use (not because I want to hard the information from you but because the information might have changed by the time you are reading this) however, you can check out fiverr.com and start selling your skills.
The only downside of using fiverr.com as a platform of selling your accounting skill is that most people that use the website are only willing to pay $5.00 per service irrespective of the amount of effort required.
B. Promoting affiliate products like accounting software or templates prepared by others
You can and should be making tonnes of money online simply by promoting other peoples product online without having your own website or product. Clickbank.com for example sell all sorts of digital products that you can sell and make real money.
You may be asking how this is possible. Well if you have just 30 minutes each day and follow the 6 simple steps below, you will surely be smiling to the bank doing almost nothing
- Register with clickbank or other sites like commission junction or clicksure
- For click bank, click on the market place to find a product to promote
- Check out the landing page of that product- if you are not tempted to buy the product for yourself, don’t bother promoting it. I buy any product that I promote
- Click on the ‘promote’ link to get your hoplink
- Start sending traffic to that website through your link. I spend a bit here to place adverts on relevant websites. I typically use buysellads.com to send targeted traffic to the website
- Rinse and repeat
C. Prepare excel template that you can sell online
If you are an advanced excel user like myself, then develop some useful template and sell them online. This is a bit hard to do because you will be competing with pros that have been doing this for years. I recently prepared and shared two templates for free on this site. Check out excel PAYE template and bank reconciliation excel template.
D. Take up full time job
This is the traditional way of making money as an accountant that is still relevant. The problem here is that you have to play the rat race kind of game to get an accounting job as a graduate. You need experience to get a job and you will struggle to get a job with experience. You get the point?
E. Write books and earn royalties
I can hear someone saying, common give me a break. Well, trust me you can still make good money from royalties writing books that fit the needs of people. You don’t have to play the politics of finding a credible publisher that will accept your book. There are many online platforms to sell your books. You can set up a membership website using free tools like wordpress for membership websites.
F. Become a freelance writer
If you are good at writing as an accountant, you will be surprised to know that there are millions out there that are hungry to engage your service. I get good jobs from Elance.com, its free to join but you have to convince the market that you can deliver else, you will be out of offer quickly after one or two negative reviews.
G. Set up your accounting practice
Starting up your own accounting practice is a good way of making good money but require more work than other ways of making money as an accountant. You don’t only need to have gained practical experience but also need to build your clientele database to succeed. You need to be very good at marketing your accounting services to the right people. A lot of businesses are now looking for ways to outsource some of their accounting functions so this is the right time to explore this option.
The money making tips that I have shared in this article are what most people pay hundreds if not thousands of pounds to learn. Here I have given out for free. If you require more information on any aspect of the issues raised in this article of how to make money as accountants, please do feel free to drop your question in the comment box below.