For anyone who saw my first post, I'm new round these parts, a Member of the AAT and soon to be applying for my Member in Practice certificate so I can start the process of finding my first real client(Dad's business is currently being kept up to date by me on a volunteer basis).
Is anyone willing to share the process of how they went from nothing to gaining their first clients, and what they'd put the success down to?
I understand the MIP process, and need for Insurances etc, but just wanting to know about the advertising and other sides of starting up your bookkeeping/accounting business.
Any time scales/costings would be appreciated too!
EDIT: Also any info on the Limited vs Self Employed route would be great as well!
Many thanks,
Jason.
-- Edited by J_asonR on Wednesday 3rd of February 2016 01:24:54 PM
Get networking with accountants and other groups, this will prove to be invaluable.
Facebook page, not sure if it works or not, website does work. I have turned away jobs recently where they found me via my website. I only turned them down as I don't have the capacity to fulfill them at the mo.
Join a local networking group, it doesn't have to be BNI as that is really expensive when you are just starting out. There will be local smaller networking groups around near you.
Networking was the best bit of advice I got on here and it was from Rob. It was a few years ago now, and it certainly doesn't happen over night but it will happen.
Many thanks for commenting. I know my Dad does networking and it's proved invaluable for him. I know he goes to a BNI group, I might see if there's a free first timers thing I can go along to to get a feel for it!
I have never tried networking groups. I simply got in touch with all accountants in my area to offer my services, from this I gained 3 accountants.
I still carryout on-site work for one and get referrals from them when their own workload is heavy. This has gained me a number of customers. The second accountant, again I worked alongside for a time to gain some experience but we never seemed to gel and just drifted apart. The third accountant offered me the opportunity to buy him out when he retired, which together with a business partner we did.
Along the way, I have advertised, sent flyers to targeted customers, postcards in shop windows, looking out for any shops/business opening up that may need a bookkeeper, word of mouth referrals etc.,.
I am constantly being told by my business partner that you get nothing in life without hard graft ! he is correct.... as always.
Good luck with your practice, I work full time and started my practice back in April 2015.
I have gained clients through my website, Facebook page, and word of mouth.
I tried networking but it wasn't really for me, I'm definitely going to try again soon though but may take another person with me for moral support.
You'll find that some nights your working till 2 am when you have a deadline, you'll also work a lot of Sunday evenings, and it would be in our best interests to try and reduce employed hours to part time asap.
The work will snowball very quickly, so being organised will really help.
Keep an eye on your Professional indemnity insurance limit too, and increase as your practise grows to ensure you have the correct cover.
I used AXA as it was recommended by AAT at the time @ £79 per year.
I'm still full time with my employer but hoping I can reduce hours in next 6 months or so,
I started working for myself in early 2012. Didnt have a job at the time but got a full time job in April 2012 but carried on working for myself part time.
Left the full time job to go full time for myself in Dec 2012.
Now been work full time for just over 3 years. Employ 2 full time members of staff (one qualified CA and other qualified by experience and still to start their ACCA exams). Taking on an admin assistant at the end of this month. Have had her in helping out via a local employment charity over the last 3 months and will be keeping here on when her placement finishes at the end of the month. She will start on 20 hours per week but this I expect to turn into a full time position over the next 6-12 months. Also have an associate who works under me. She has her own portfolio of clients and she is ACCA qualified but just needs to get her training period post qualified signed off. Got a CA trainee starting in Aug/Sept.
Now have over 200 clients that I deal with. Take on anything between 3 - 10 new clients every month. Got three prospective meetings lined up for next week.
When I started out you need to try all different avenues to get your name out there and see what works eg flyers, ads in local magazines, gumtree adverts, website etc.
Nowadays the only active advertising I do is google adwords and a targeted mailshot (but even then we havent done that for about 7 months). We get a lot of new business from our website and referrals from existing clients. Going to dabble in the social media arena soon and that will be the new admin assistant's baby. Never done any networking. It might work for some but personally I see it as people going to sell their own stuff rather than looking to buy. Plus where I am based the same people seem to be involved in different networking groups so personally see that avenue as a waste of time.
You always have to innovate and think of ways to do things differently. For instance I am going down to AVN headquarters tomorrow for a 2 day course on Weds and Thurs re their tools and system builder system. Have been using their times up pricing software for the last few months and has got us higher fees from new clients than we previously would have got. It enables clients to choose the services and price they want to pay and find that clients are willing to pay for more and at a higher price than would have originally thought. Looking to invest in AVN's full package next month to provide a more proactive service to existing clients. A lot of my larger clients are interested in this type of service. Was out seeing a client today and he is going to be the first user of the system. have said given he is the first then if he doesnt think it is worth the £5k annual fee he can pay what he thinks its worth.
Also a member of AVN proactive tax group. This week have proposed advanced tax planning opportunites to 5 clients who either have +£100k pre tax profits per year or currently have +£100k in the bank. If they all go with the options then there will be a payaway from this which will probably amount to £10k - £12k for basically no work on my behalf other than me introducing them to the tax planning provider..
Thanks Nicola and MArk for your recent responses. Sorry I haven't replied sooner.
Both very good information and will take a look into each point.
Currently in the few weeks of a new full time role in a startup accounting firm getting clients from agencies, so lots of "operation" style work currently which I hope will help with the setting up of my own in the future!
