Auditor

As bills become more complicated, the opportunity for finding errors and overcharges in them increases. For most businesses, though, the tedious, detail-oriented work necessary to check each bill and interpret all the data is just too time-consuming. An auditing specialist can work through all the paper records, uncover overcharges, collect a percentage of the money saved, and make an excellent living. To be very successful, you will need the ability to consider what lies behind the rows of figures on a utility bill. Something as basic as a misplaced decimal point can have a huge effect, but it’s harder to spot incorrect rate assignments, double billing for small segments of the service, or opportunities to use a different rate structure.


You’ll need a good place to work. This is a lot of detailed reading, calculating, and thinking, so your equipment needs to fit you comfortably (around $3,000 to start).


If you focus on utility bills, look for organizations that consume large quantities of electricity, such as businesses that are open all night. Government organizations, churches, and other institutions with big buildings and inadequate staffing are excellent prospects also. Some auditing services focus on insurance costs or telephone charges. In spite of the clear benefits you will offer, however, marketing is a challenge. People aren’t used to the idea of auditing specialists, and they probably have no idea how much money they are pouring down the drain each month in their businesses. In other words, they undoubtedly need your service, but they don’t realize it. You will succeed when you find a way to help them understand the benefit you offer.


“I don’t just punch numbers into a computer . . . I delve deeper to find out more about my customers and how I can help them on a long-term basis,” says Dianna Stahl, President & CEO of E.R.S., Inc., in Akron, Ohio.


Stahl says she absolutely couldn’t do without a computer and a phone.


“Find a good mentor in whatever area you’re weak in. I was weak in sales, so I found myself a good sales mentor and it helped immeasurably.”


“Know the people you’re going to go into business with well before you do it. I was starting my business based on someone else’s promises, and they didn’t come through. Fortunately, it worked out.”


Approx. cost of start-up: $5,000 to $8,000


Approx. potential earnings: $50,000 to $75,000


Typical fees: Percentage of the savings you find for clients: often 50 percent for past savings and about 10 percent for two or more years into the future


Where to promote: Business and trade publications, direct mail, membership in business groups, networking, your own Web site with free, money-saving tips for businesses


Qualifications: Accounting degree and certification, knowledge of area of specialty (utility bills, telephone options), excellent math skills, good detail orientation, selling skills


Things needed: Cell phone (with or without hands-free accessories), office furniture, computer, suite software, printer, calculator, business cards, letterhead, envelopes, marketing materials


Required staff: No


Hidden costs: Ongoing marketing time and materials, continuing education