how 'big' do you want your practice to be?
i'm interested in hearing the views of aweb members about how big they would like to grow their practice to, and why.
our little practice has now grown to 250k in fees after just shy of 2 years. its been hard work, but i've enjoyed it (mostly!). i've transferred my pension into a SIPP & just bought an office that could accomodate 20 staff (or, could just be a very spacious office for a smaller practice!). we have several marketing channels in place now, and a steady stream of prospects means i can be selective about clients we take on. its strange that we seem to turn away as many prospects as we take on - so just take the cream of the cream.
i'd always regarded 2 years as the time needed to establish a practice. i'm just wondering about 'phase 2' now ... half of me would like to get to around 300-350k GRF & then settle at that level, earning a decent income, & with good staff & my own premises i would be 'living the dream' LOL.
the other half of me wants to grow, grow, grow ... and take the fees up to 500,750, £1m ....
i've read some great posts from steve mcqueen on here about how growing a larger practice wasn't for him in the end ... (thanks for the honesty steve!) ... whereas other peeps seem bigger and perfectly happy ...
would love to hear what others thoughts are ... do you grow 'deliberately' or just drift along / upwards ... when you cant handle any more clients and dont want to grow how do you turn away new clients ... do you have a 'practice plan' ... etc
thanks all ....
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