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[ruthiresnandini]

Update on Progress Start-Up Venture

What is working? I have gathered July 2025 business transaction detail from the owner of restaurant (Corner Diner) and submitted payroll for one of the employee.

What is not working? To meet up with the business owner to finalize the July 2025 transaction.

How do you feel the project coming? I am going to meet a laundromat owner who is having business next to Corner Diner

What are you learning about running a business? you can succeed throughout hard working and trust

What are you learning about yourself? meeting up timeline, organizing work, prioritize task based on deliverable.

[ruthiresnandini]

Update on Progress Start-Up Venture

What is working? I am start collecting transaction receipt from one customer (finalized)

What is not working? Not all the expenses are captured and he is looking for receipts

How do you feel the project coming? I have positive feeling about starting to manage one account

What are you learning about running a business? As a new business owner (bookkeeper), first couple of months taking little more time to learn and manage the account.

What are you learning about yourself? Attention to detail

[ruthiresnandini]

Update on Progress Start-Up Venture

What is working? one customer is finalize his decision so I have one confirmed customer

What is not working? waiting to get last year income tax filing so I can see what was filed.

How do you feel the project is coming? Since one customer willing to take me I think I can grow upcoming months.

What are you learning about running a business? learning the nature of the business is challenging.

What are you learning about yourself? Time management is very crucial and customer relationship.

[ruthiresnandini]

Update on Progress Start-Up Venture

What is working? one of the business owner is showing interest to because some expenses are not taking care when is come to tax filing.

What is not working? One customer is not available to take next step due to some family issues

How do you feel the project is coming? I was going to have at least 2 accounts but now only one owner showing interest

What are you learning about running a business? starting up a business is very challenging, specially connecting with business owners.

What are you learning about yourself? current financial situation (inflation) is affecting everyone in Canada

[ruthiresnandini]

Update on Progress Start-Up Venture

What is working? I did follow up with 2 customers and waiting to hear.

What is not working? Connecting to business owners is very challenging.

How do you feel the project is coming? Project is taking slower than expected

what are you learning about running a business? Starting up a business is very challenging specially where legal consideration

What are you learning about yourself? customer relationship and trust is very important for book-keeping business.

[ruthiresnandini]

Update on Progress Start-Up Venture

What is working? Connect with 2 customers and they will follow up.

2. What is not working? Business owners are not willing to adopt new bookkeeper to do the financial activities.

3. How do you feel the project is coming? Project is coming slower than expected.

4. What are you learning about running a business? I do start to understand the legal consideration, developing a marketing strategy.

5. What are you learning about yourself? Prioritize customer relationship, stay informed about the legal and industry change.

[ruthiresnandini]

Progress of Start-Up Venture

What is working? Net working is working well to spread the word about my business. I am using Facebook for advertising.

2. What is not working? Connect directly with business owners is not that easy since they are the backbone for all the activities.

3. How do you feel the project is coming? Project is coming slower than what I was originally planned.

4. What are you learning about running a business? Running a business needs continuous effort and effective communication skills.

5. What are you learning about yourself? I don't need a physical office to start my business. Being your own boss is a good feeling and motivated.

[ruthiresnandini]

Financial Sources

For my business, I don't need much more investment than $50 to start up. I will use my own money from a savings account. I will operate my business from home and I already have the basic tools, so no need to upgrade for now. For example: computer, printer. For the advertising purpose, I will use social media and door-to-door visits to introduce myself and the pricing options. My focus is to find at least 2 clients within a one-month period. I also wanted to give a discounted rate as an introductory offer. 

[ruthiresnandini]

Business Operations Plan-"Simply Bookkeeping"

My business service to offer book-keeping for the small business owners in local area for those have no time or knowledge to do the financial part of their business.

Money?

For the home-based business, I don't need to be extensive or expensive. I am already using them such as computer, printer, desk, chair, file cabinet. Standard software is already installed such as excel, word, power point, Acrobat Reader. I will use the Web based accounting system and pay as I use them.

Licenses and Permits

Firstly, I will obtain Business Number Registration for the Sole proprietorship by using canada.ca online by providing Social insurance number. I Need this identification number to interact with the Government of Canada for example. GST/HST Remittance, Payroll deduction remittance.

Goals

**Implementing to minimize the risk of errors and reducing by next financial reporting period.

** Strengthening client relationship by providing excellent service and building trust with them.

** Ensuring that the business meets its tax obligations and maximize tax savings.

[ruthiresnandini]

Customer Persona

The ideal customers for Simply Bookkeeping are small to mid size business owners who is in the local area those overwhelmed by bookkeeping task with limited time and resources with fear of doing their financial record. The goal is to streamline bookkeeping, save time and money, ensure compliance with tax regulation. As a business owner always in connected with customers and their needs.

[ruthiresnandini]

For all your business needs, I am there for you.

[ruthiresnandini]

Local Competition

One of the competitor is Katherine Charlotte and I don't see the Face book page shared but there is a monthly plan posted and it cost around $999 (full cost). The business have different plan option and pricing. Responds to questions about 3 hours.

Another competitor is Taxit4me and not more information on the webpage. The responding time takes 1 week. There no pricing information posted. Last update was done about 3 months ago.

Another competitor is Liberty Tax Services. They have various locations. They do mostly Tax returns. The web page is well designed and the Facebook page is well designed withe recent updates. They give $20 discount for every referral. This is a franchise ownership business.

In conclusion, comparing 3 competitors in my business field, I think the Liberty Tax Services is the one very competitive since they are franchise they have good reputation of the brand name.

[ruthiresnandini]

Message Map

[ruthiresnandini]

My strengths and weaknesses

One of my biggest strength is that I am a good team player where ever I do have to work with more individual for example, in a work place environment or any kind of gathering. Team work is an important part in workplace in order to complete your task on time. As a team player I can coordinate and collaborate with others and can maintain the workflow which can benefit your team and the employer.

I am very organized whether at home or at workplace. I do feel like I do have an extra power so get things done on time. Organization skill always support me to prioritize the task with less stress. I can avoid last minute rush by putting everything in place. There is consistency on the job by developing routines.

My weakness is trying to be perfectionist all the time. When I have multiple task to complete, I do try to complete each task in a certain steps/level which leads to short to time to complete for the rest of the task. I do always follow certain steps while working on task which makes easier to understand at later time but not able to meet deadlines for the complete job.