Start up alone or with some support

Mark Lee takes another look at how start-up practices can benefit from third party input to help build and grow their business.

Looking back through Any Answers on AccountingWEB I see there have been a number of requests from start-up practices seeking someone to mentor them. It is also clear that there are differing ideas as to what a mentor is and what can be expected from a mentor.

In this article I intend to explore the alternative forms of business support available to start up accountancy practices – whether through ‘mentors’ or otherwise.

Building your practice can be a lonely existence and many accountants will find...

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  • What is a mentor?
  • What about coaching?
  • Maybe co-coaching would work?
  • More formal groups
  • Other options

Continued...

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Comments
dbowleracca's picture

I'd like to mentor/support any start up practices in east mids

dbowleracca | | Permalink

Having joined a successful, but stagnant, practice at the age of 28 as a director I have gained a lot of experience that is relevant to start up practices.

My remit when I joined was to help grow the practice, and I successfully helped them to increase fees by 19% after my first year which was a challenge as it was in 2008/09 exactly the same time as the recession started. This created opportunities but also challenges.

I don't expect to be paid, unless of course I'm able to add significant value and profits/cash - then I wouldn't mind a pint or too!

Anyway! If anyone had started, or is thinking or starting, an accountancy practice in the East Midlands - only chartered or equivalent - then look at my comments on other issues and if you think my advice would benefit you then please PM me.

I'm still in practice and will be for another 12-17 years (depending on how much money I can make in that period, wether I still enjoy it, etc) so this is current knowledge that I'm willing to share.

Private message sent, I hope

garethwestwood | | Permalink

Private message sent, I hope ive not missed the boat on this one

 

Thanks

 

Advice on gathering clients

ACMaqbool | | Permalink

Hi,

I am thinking of starting my own practice. I have managed a practice before but for the last 6 years I have been in industry. The long hours and hefty commute is taking a toll on me and I am ready to follow my dream.

Any advice on how to gather small and medium size business clients?

Thanks

Atif