What happens when your start-up gets stuck?
Most of the articles in the start-up in practice section of AccountingWEB focus on the lead-up to starting up your practice and how to get going. This time I am considering what happens down the line, when you have a fair number of clients but are not yet as successful as you hoped to be, explains Mark Lee.
It's evident from many of the requests for help posted in the Any Answers section of the site that this is a common situation. Perhaps you too feel stuck and that your start-up practice has kind of plateaued a little too early.
Usually what’s happened is that your first few clients came in relatively easily in the early days. Perhaps ex-colleagues and ex-clients from wherever you trained or worked previously heard you were now on your own and sent work your way. Or maybe you bought a small client bank from a retiring sole- practitioner.
Anyway, you did a good job and got a few referrals. Your early networking efforts also paid off but you have struggled to keep up with your new found business contacts.
You are working hard but you are feeling a little despondent. It's all turning out to be...