Web URL: http://www.yourextrahand.com
In Business Since: 1994
Type of Business: Bookkeeping Services
Works: 90% virtually
LinkedIn
Twitter @LindaSiniscal
Ruth: Today’s guest is Linda Siniscal of Third Hand Bookkeeping Services. Welcome Linda. Tell us about yourself and your company.
Linda: I am the owner of Third Hand Bookkeeping Service which I started in 1994. I am a Certified Bookkeeper with the American Institute of Professional Bookkeepers and a Certified QuickBooks ProAdvisor. I offer virtual bookkeeping services to small business owners who work on either the MAC QuickBooks or Windows QuickBooks platform. I also assist clients who have their bookkeeping stored on the ‘Cloud’ – Freshbooks, Wave Accounting, and Xero (to name a few). My bookkeeping services include monthly bank and credit card reconciliations; accounts payable and accounts receivable management; creation of client invoices; preparation of monthly financial reports; creation and monitoring of company budget; and vendor bill payment.
Ruth: How did Third Hand Bookkeeping Service begin?
Linda: I was a bookkeeper for a construction company and also held corporate positions in the finance industry. During the last economic download in the early 1990’s and after working with companies either closing or merging, I thought it was time to fulfill my dream of being an entrepreneur. I started Third Hand Bookkeeping Service in March of 1994 while I was still working full-time. I placed an ad in our local newspaper as the internet was really not around back then. Once I was able to build up my client base, I left my full time job and have never looked back.
Ruth: Over the years where have you found your support circle?
Linda: Actually when I started my business, there really was not the support that there is today. I remember meeting with my local SCORE office and they actually did not know how to help me as working virtually was nothing they had come across before. I joined an organization called Staffcentrix which was a trade association for virtual professionals. I believe in 1999 they broke away to concentrate on military spouses and that was when IVAA was formed (International Virtual Assistants Association). I truly give IVAA credit for where I am today with my business. The support and help of its members is phenomenal. I have attended their Live Summit’s each year (only missing two) and each year I walk away with something that will help me to continue to grow my business. Since I have supported business coaches throughout the years, I do have a business coach. I think it is so important to partner with a coach – they are your sounding board and are able to provide valuable feedback from their perspective. I love my coach and we have been working together for a number of years and she truly has helped me get to where I am today and continues to get me out of my comfort zone and reach for the stars so to speak.
Ruth: What advice would you give to someone considering this career choice?
Linda: Network, network, network. Join local networking groups such as NAWBO (National Association of Women Business Owners) – they have chapters located all across the country. Belonging to a local networking group allows you to work on your networking and communication skills. You will need to give your 30-second commercial at each meeting so by attending these meetings, it allows you to fine tune and get it really polished for when you speak with potential clients on the phone. Also join trade associations for your particular industry and network with your fellow peers. Lastly, don’t give up. If you are truly passionate about your business, stick with it. Sometimes it does take a little longer to get clients, but if you give 110% and provide clients with more than they expected in terms of your service, they will remember that and recommend you to their business associates. Referrals from clients is your best form of marketing.
Ruth: What suggestions can you offer to clients seeking someone like you?
Linda: Make sure the virtual professional has the skills you are looking for. Don’t just speak with one, speak with a few and narrow it down by the individuals that you felt comfortable with speaking to. Ask if they can handle additional clients. What their turn around time is. Do they charge by the hour or do they work on retainer packages.
If you know you need help but just not sure where to start, just jot down those administrative tasks you do on a daily, weekly or monthly basis. Then review the list and decide which tasks you feel comfortable delegating. It is okay to start off slow – you both need to get to know each other’s work habits. Once you see how much time the virtual professional is freeing you up of those tasks, I can tell you, you will start adding more tasks to the list. If you are a small business owner, you should not be formatting proposals, creating client invoices, or balancing your checkbook. Do the things you love to do – by doing things that you do not enjoy or are not good at, it will take you a lot longer to do.
Ruth: Any last thoughts you’d like to share with our readers?
Linda: I just would like to emphasis how important networking is – get the word out about your business. Tell everyone – as you never know that person you just met in the elevator may know someone who is currently looking for a website developer or even a bookkeeper. Owning your own business is not a 9-5 job. You are going to be putting in a lot of hours so unless you are truly passionate about your business and are willing to put the time in, keep at it and don’t give up. If you do not have the time commitment but do need to work from home, consider being a subcontractor for a multi-VA team.
One last note, get involved with your local trade association. Volunteer to be on a committee – this allows the members to get to know you and see how you work.
Ruth: Awesome! It’s been great talking with you, Linda.
Linda offers free bookkeeping consultations to answer any bookkeeping questions or challenges you may be having. Complete the contact form to schedule your consultation.