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.
- first year company tax return for a limited company 1,694 29
- One off meeting new client 1,234 11
- PPR CGT section 222 builds an extension 125 2
- Leaving Flat Rate Scheme for VAT 332 9
- PITA client 449 5
- R&D tax credit claim 288 7
- Legal Advice Needed Bank Account Blocked 649 10
- Have I dropped a major clanger? 1,235 20
- Child tax credits 131 2
- Deaf clients 616 6
- rental income since 2003 117 1
- DEATH OF A SHAREHOLDER NO SHAREHOLDER AGREEMENT 416 10
- Can I take action against my accountant for incompetence? 2,270 54
- Entrepreneurs relief available? 549 12
- ACCA Cert/Dip in IFRS 97 1
- Estate agent and VAT registration 241 4
- Sole-trader renting commmercial property from himself & spouse. 232 4
- Peer to Peer lending 1,083 8
- Small company audit 353 9
- Should VAT be charged when land is transferred as part of a TOGC 130 2
- Property exchange - 8-year legal delay following fall-out 614
- Cancelled 358
- SAGE Payroll Data for Import to MS Dynamics AX 339
- Cancelled 293
- Have you staged yet for auto enrolment? 270
- Probiz 260
- VAT on non-profit making clubs (ECJ VS West Dorset Golf Club) 223
- Free-standing washing machine - unfurnished lettings 207
- Phishing emails purporting to be from CIPFA? 194
- Car leasing scheme 193