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.

Dave

Comments
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Start practice number 2

happy |
happy's picture

Start practice number 2

bigdave1971 |

@ Happy

Steve McQueen |
Steve McQueen's picture

2 votes for selling up!!

bigdave1971 |

A bit more info

Steve McQueen |
Steve McQueen's picture

Small town

bigdave1971 |

Practice Growth

OPTIMISE |
OPTIMISE's picture

Phase 2

Steve McQueen |
Steve McQueen's picture

Thanks again Steve

bigdave1971 |

An alternative .....!

Steve Holloway |
Steve Holloway's picture

@ Steve Holloway

Steve McQueen |
Steve McQueen's picture

An alternative ....!

bigdave1971 |

@ Big Dave

Steve McQueen |
Steve McQueen's picture

Another vote for making the most of what you have

Paul Scholes |
Paul Scholes's picture

You are focusing on the wrong type of work

zarathustra |
zarathustra's picture

I would evolve

ireallyshouldknowthisbut |

Agree with Zarathustra and previous ....

Steve Holloway |
Steve Holloway's picture

Good to see an accountant focused on their OWN business strategy

bookmarklee |
bookmarklee's picture

Thank you everyone

bigdave1971 |