I'm looking some advice from others who are building up their accountancy practices.
I set up my practice and went full time just over 4 years ago.
I set in mind the number of clients I felt I could manage on my own and am just about at that number now so I feel that phase 1 is complete.
I have still got spare capacity now but rather than take on any clients that approach me, I want to be a bit more selective and and proactive in looking for clients as so far (apart from the first few) the majority have come to me as referrals.
I have a lot of small clients who just need accounts and tax returns done each year and will do for ever until they hang up their tools/pens, etc.
I have a few larger clients that need bookkeeping, management accounts, payroll, VAT returns done and I feel that's the sort of client I need to attract. I'd rather have one larger one then 5 small ones, for instance.
Is there any reason why I can't write to local businesses (say from a directory) to offer my services or how else should I go about it as advertising in newspapers or Yellow Pages, etc doesn't seem to work round here. Network groups?
Also if somehow I do manage to get a few more larger clients, I may decide to get rid of some of the smaller ones, especially the slow payers. How do I do this without feeling guilty about leaving them in the lurch?
Finally I am not looking to take on staff but if I grow large enough I would be happy to subcontract work out but I don't see that for a few years yet and that would be the start of phase 3.
Any advise would be much appreciated.