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The Orange County Register SMALL BUSINESS Saturday, March 5, 1994

SMALL BUSINESS SPOTLIGHT:
Ledger Express

Proprietor's name: Michael A. Lingis
Business address: 138 Waterfall Lane, Brea
Telephone number: (714) 502-1421
Type of business: Bookkeeping and tax service for busi- nesses at the client's home, or office.
When opened: November 1992

Why you started this business: All business owners need accurate and timely financial information, if not to help their business grow, then for income-tax purposes. Many business owners cannot justify having a full-time bookkeeper, or an owner does not have the time and/or the inclination toward bookkeeping. So I started this business to provide a service where I could come in and do the work in the client's home or office on my comput- er system or theirs. This means posting accuracy is improved because I am there and am able to ask ques- tions.   The reports are printed before I leave, and, as part of the service, I personally take time to review the reports with the client to help him or her understand what it means to the business.

Where did you get the idea? I had many acquaintances and business associates asking me how to interpret the financial  reports they were receiving from other sources. It was through this interaction that I came to realize that there was a market for this type of service.

What was the biggest hurdle and how did you overcome it? My biggest hurdle was showing business owners that my service would pay for itself. No businessperson will ' hire an employee or service, or buy an item without believing they will receive at least equal value in return. To overcome this, I explain to the client that with this report also comes information that can be used to im- prove profits, help satisfy tax-information needs and free up their time to enable them to concentrate on increasing their sales.

How much time did it take to get this business from idea to open doors? I had considered starting this type of business for a few years. When the right set of circum- stances finally came about, it only took me a couple of weeks to design and print my brochure and business cards and get a business license.

How much did it cost to get started? About $4,000. This included purchasing a portable computer and printer system and all the software I would need.
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ED CARREON/The Orange County Register

Where did you get the money? Savings.

What is your expected revenue for the year? $45,000.

Is this your first business? No. About nine years ago, I was a partner in a construction company. I was in charge of accounting and administration for the compa- ny.

To whom did you go for advice? I am fortunate that my past marketing, accounting and general business expe- rience seemed to be enough to get me started. However, my wife Cheryl's extensive background and experience have been invaluable in assisting me in developing prac- tical solutions to specific client-information or system needs.

Did you write a business plan? If so describe briefly. No.

What's the biggest thing you didn't think of before you started? The amount of time needed to devote to market ing. I would rather be helping clients than looking for clients.

MY BIGGEST HURDLE WAS SHOWING BUSINESS OWNERS THAT MY SERVICE WOULD PAY FOR ITSELF.
Michael Lingis, owner of Ledger Express, a book- keeping service for businesses

To be considered for the small-business Spotlight, the enter- prise should be less than 4 years old. Send a description of your business, following the above format, to Spotlight, c/o Melodie Nyman Posada, The Orange County Register, P.O. Box 11626, Santa Ana 92711.
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