How do I start???!!!

How do I start???!!!

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I currently work in practice and am looking to get my practicing certificate later this year (ACA). I'd like to then set up my own practice, initially home based, building up a base of clients whilst still working, aiming to transfer completely to my own practice (and accommodation?) in 12-18mths.

How do I start???!!!

PII and management issues I'm fine with. I have a clear idea of the sort of practice I would like. However, I am not sure of the best way to "get" clients and how to juggle working in two places at once.

How do people set up on their own without a drastic drop in income and a huge debt to purchase fees?

Many, many thanks
Anon

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By User deleted
20th Feb 2006 15:38

...
Advertise, network, sub contract, sell yourself, develop a USP, and trawl the archives on AccWeb, this question has been asked lots of time before and there are many gems which go into more detail than I have here.

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By AnonymousUser
22nd Feb 2006 10:55

PRACTICE, PRACTICE, PRACTICE
Like anything in life nothing is easy. Initially you will need to advertise. Use less expensive local papers and when you get clients provide the best service you can with the best value and be competitive. Eventually you will then get referrals (the best clients to have because they have sought you out).

Make sure you keep them by providing the best service.

I started my practice 18 years ago. I no longer advertise anywhere and operate throughout the UK and and have clients in all trades including houshold name entertainment personalities (that`s when it becomes exciting).

Believe in yourself, work hard and above all keep the maxim "honesty, integrity and service"

You don`t have to be as good as the next accountant...you have to be better.


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By User deleted
20th Feb 2006 17:52

simple answer - they don't!
If you are good at your job and have a decent salary, your income will drop initially - that is inevitable. Many clients will take 30 days or more to pay, after you have done the work.

You will need working capital and if the business is not correctly financed you will look quite stupid going back to the bank!

I set up two years ago and borrowed 30K so that i could concentrate on networking and marketing for a period of time without getting bogged down in fee earning work.

Now, i have a client base that earns me what i gave up as a salary - so things are on the up, eventually.

Hope this helps a bit

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