Office support services can range from basic data entry to a fully-staffed office handling all the details of a client's business.
An office support service company can start very small, offering only a limited selection of services and expanding as you gain the capacity to do so. This modular approach makes office support services very attractive for the talented entrepreneur with limited capital and the motivation to learn and grow over time.
Start Up Costs and Financing Sources:
$500 to $100,000+ depending on services offered
With a strong and well-researched business plan, venture capitalists and angel investors may help with part of the initial financing. Do not depend on this, however, as your source of financing.
Pricing Guidelines for Service:
Set your prices to allow for at least $20-40 per hour (before taxes and expenses), but avoid charging hourly rates. Charging an hourly rate for office support services gives clients the opportunity to demand more and more work for the same price. Before long, it will begin to feel like you are trapped in the very same employment situation which you were trying to avoid by starting a business in the first place! So with that in mind, try your best to set a flat fee (based on volume) for each office support service you provide.
As you become more skilled with specific office support services, you can charge less to a client while actually earning more per hour.
Advertising and Marketing:
Many help wanted advertisements detail office support services which are very suited to your company. Respond to these with a brochure of the services you provide, as well as the benefits of contracting with a service provider instead of hiring an employee.
Temporary staffing companies get many requests for office support services. Sometimes they do not have enough qualified applicants to fill the positions. Rather than telling their clients that they have failed to fill the position, they might be willing to connect you with the client company.
Work with other office support service providers in your area. Identify which services each provider excels at and cooperate to refer those types of jobs to each other. This valuable type of exchange will keep you and your "competitors" working on the projects which profit everyone the most.
Get at least one ad listed in the yellow pages phone directory. Better yet, get listed under the heading for every specific service you offer.
Essential Equipment:
A decent computer with a comprehensive suite of office software is necessary in any office.
At least one telephone line will be necessary. Two telephone lines and a dedicated fax line would be even better.
A three-in-one printer/copier/fax machine can save precious desk space; however, if you do a significant amount of one of those three tasks, it is a good idea to get a dedicated machine for it.
You will need an adequate amount of general office supplies such as printer paper, paperclips, staples, pens, pencils, Post-It notes, mailing labels, etc.
Filing cabinets and similar paperwork storage space will help to keep your work area organized.
Income Potential:
$15,000 to $100,000+
Your income is really only limited by the amount of work you can do in a day. This is definitely a choice business for someone who is good at streamlining and automating their daily tasks. After you have an efficient system in place, you can begin to hire employees to take care of the menial things which can't be automated, greatly expanding your earning capability.
Target Market:
Small businesses which are growing rapidly and have an excess of paperwork to handle.
Staffing agencies which specialize in office support services and have trouble finding qualified applicants for a project.
Tips for Success:
Develop a strong eye for detail. 99.9% accuracy might sound excellent, but that one-in-a-thousand error could cost your clients big money and cost you your contract.
Automate! Identify the areas where you are spending most of your time and determine if it is possible to automate parts of the tasks and save time. Research software which could do some of the dirty work for you. For example, certain data entry projects can be done by an image scanner and optical character recognition (OCR) software, leaving you with just the job of auditing the final data for accuracy.
Training, Skills or Experience Needed:
It is useful to have a background in accounting, business management, etc. Working as an employee for a year or two in an office support services environment is enough to develop the basic skills you will need.
Typing is a big part of the business. Hone your typing skills to at least 70 words per minute with 100% accuracy.
Stay organized. When you need to find paperwork or supplies, they should be right where you expect them to be.
? Copyright Randy Wilson, All Rights Reserved.
Randy has dozens of home based business articles such as become a mystery shopper, become a mystery shopper, and become a mystery shopper.
monthly home cleaning Buffalo Grove ..Car Wash Crime in the Hood. Apparently not everyone is... Read More
When small businesses fail, the wreckage is often assigned to... Read More
Business owners rarely go into business to deal with the... Read More
As an entrepreneur you can learn a lot by following... Read More
When you awoke this morning, you found yourself buzzing with... Read More
The Federal Trade Commission out of the blue decide in... Read More
If you are a franchisee of a large franchise system;... Read More
Small businesses need Public Relations, possibly more than large corporations,... Read More
We all know that a building has to have a... Read More
Treat your business as a serious, full-time business and be... Read More
The current lack of industry leaders represents an exceptional opportunity... Read More
If you're just ramping up your small business email newsletter,... Read More
Database Problems in MarketingI have been working on a direct... Read More
New Franchisors and Entrepreneurs need to watch out as they... Read More
Do you operate your business as a series of projects,... Read More
How do we keep track of our business deals?If you... Read More
Increase your profit potential by identifying ? and avoiding ?... Read More
If you run a pressure washer business you need complete... Read More
Do you know what your genius work is? It's the... Read More
You may find this Newsletter a little long winded but... Read More
Discover How Specialized Cost Containment Creates A New Win-Win Position... Read More
Competition in the business world is often viewed as a... Read More
If you are looking for a franchise opportunity, the choice... Read More
Fuel prices these days are quite high and they take... Read More
Marketing is one of the four corner-posts of a solid... Read More
scheduled maid service Mundelein ..How do you make sure you have the business solutions... Read More
Hogwash!That's what I say to people who tell me that... Read More
$37.4 million funded from venture capital today. $86.4 million funded... Read More
Should your business have a toll free number for customers... Read More
If you really want to earn more money with your... Read More
All legitimate home business entrepreneurs insist and announce loud and... Read More
Maximum efficiency in the cleaning industry is a key to... Read More
Thankfully, most of us will never find out. That is... Read More
My clients and many of my readers are small and... Read More
SBIR vs. STTR: If you are participating in the SBIR... Read More
The choice to incorporate a small business in Florida has... Read More
Your product is dying. With the same inevitability that we... Read More
The employer / employee relations environment has been constantly evolving... Read More
So you want to start a business but you don't... Read More
What are the 5 best ways to gain new contacts?There... Read More
Your on-line success is based on your efforts and yours... Read More
Whether your target audience is in your neighborhood or across... Read More
You know your prospects need what you sell. You know... Read More
It's the dream of every person who starts a business... Read More
Franchising Directory Sites-Paid Advertising, Lead Generation for FranchisingFranchising Directory Sites... Read More
When a person knows and knows not that he knows.... Read More
As a company grows, the owner's role begins to change.... Read More
Franchisors of home based and mobile businesses need to carefully... Read More
It's obvious when a small business has accepted the fact... Read More
If you are in the pressure washing business and are... Read More
Small Business |