Unfortunately there is no magic formula or register to give you this information.
Stick at the networking, it will pay off eventually. Took me 1 year to get my first bit work from my networking group and I still haven't billed for it.
Make sure you advertise locally, try www.thebestof.com and locate your area. Ok its costs like £45 a month, but it will give you added exposure.
Just remember that the type of service you offer is not something that is regularly sort after. Many Businesses develop long relationships with bookkeepers and accountants. It is difficult to get new clients on a regular basis as many businesses don't like change unless there is something seriously wrong.
Stick with it and try to get your business know. as the old saying goes, "your need to spend money to make money"
It takes a while to get new business and get your name known in an area. Advertise in as many local mags or postcard size ads in local newsagents, they are good value for money. I had an advert in a shop about 5 miles from me and I have just got a client from it which is a new start up and initially I thought he was going to be very small but it turns out hes not so that was worth the 50p per wk, I have just put it back in the shop window for 2 months. Keep persisting, try and get in with an accounts practice, they don't always do the bookkeeping and like to sub it out. I have just got in with one and its taken me a year to get in there but well worth it.
Keep networking it will eventually pay off although may take some time. good luck
Networking definitely works but it does take time.
If you can't afford the cost of joining one of the larger networks then find out the smaller ones in your local area. The key is to stick with a particular group/s rather than scatter gun them all. Nobody will pass your details on if they have only met you once!
It may take some time (and I do mean a few months) to gain your first client but generally the ROI is very good. People buy from people, particularly something like a bookkeeping service. They will use you because they know and like you.
One of the bookkeepers that I have been mentoring was part of a networking group for about 7 months before picking up his first client, he is now inundated because he is the one that stuck at it and that people remember.
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Phil Hendy, The Accountancy Mentor
Are you thinking of setting up your own practice or have you set up and need some help?
If so a mentor may be the way forward - feel free to get in touch and see how I can assist you.
@Bob - being effective at new business generation has three key elements; why, how and what.
Why should anyone use you? This involves you making sure you have considered your positioning, branding and value proposition.
Then move on to how you will build interest (the marketing methodology) and only then what you do. Too many people want to know what works when all of it does when you have sorted out the why and how.
Not sure if this helps but my council run courses for new and potential start ups, thought about going on one just to see if I could get any business, they also said they would put up my leaflet.
Also I received the same email from loads of friends about a new shopping opening, the owner totally forgot to advertise her business and I thought how effective that could be as everyone was forwarding it to all their contacts.
How long have you been networking? Networking is all about building relationships and it takes time for people have to get to know you, like you and most of all trust you. I have been networking for over 3 1/2 years but really pushed it in the last 2 years and I am finally seeing results. It has taken 2 years to get there. I was referred 6 times last month on LinkedIn in a discussion and am currently doing a proposal to the person who started that discussion whom I was referred that is one example of how it works. I was very excited with that result. All my clients have come through networking.
I also run networking groups myself in Luton and St. Albans so that raises my profile quite a lot.
I run a Crunchers franchise in Herts and Bob has commented above. All that I can add to this is really get to understand what kind of bookkeeping business you want to run. Do you know who your "ideal client" looks like? Have you given that any thought. Once you have answers to these questions you can then focus on where you want to go rather than just looking for clients.
I have done this in my business over the last few months and things are coming together for me so I know it works. I had two sales meeting in one day last week and have another next week so I am only commenting from experience.
If you would like to talk please feel free to email me anytime mel.dowie@welovebookkeeping.co.uk
