Accountancy firm - phase 2
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.
- What is the status of "Whistleblowing" these days - do you get rewarded? 306 8
- Should everyone be entitled to a personal allowance 142 5
- Do I need to pay my accountant 342 6
- Straightforward email correspondence or PDF letter attached to blank email? 590 7
- CIC Tax - what is trading? 495 24
- How to post Sales figures in Sage50 Accounts (we use separate Sales ledger) 148 3
- Lloyds bank ... 423 6
- Goodwill omitted from first years accounts 386 18
- Limited company buying a car 217 5
- Buying Microsoft's Surface Pro 3 485 10
- Course costs for retraining as a barrister 260 7
- Travel and Subsistence expenses while abroad 304 4
- ACCA practice certificates 520 5
- Limited company buying director's car 319 10
- Question on HMRC past taxes (+penalties) on non-resident 105 1
- Is it possible to change a client's trading address for Vat purposes online 148 1
- WC's and capital allowances 191 3
- Entrepeneurs relief 332 13
- Dress code 1,571 36
- Which company is best for online new company formation? 486 13
- CTA study material 774
- Anyone have clients that use Pay4Later to offer customers credit? 484
- Raiders of the Lost Tax File 402
- Employment related securities question 311
- AIM Stocks and IHT 286
- Expat pension contributions? 261
- Tax Relief for overseas employees 260
- Trust for Employee 241
- Service Charge Accountant Career Options 188
- IPP (International Pension Plan) income 149