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Help, I need a Mentor please!

I'm looking for a Mentor to assist me in my new business.

Hello everyone,

I'm in the process of starting my own business after many years working in a non practice environment. I know there is so much to take on but I'm ready for the challenge. Im wondering if any practitioners out there would be willing to be my mentor.

I'm a qualified accountant (FCCA) and will appreciate advice from practitioners who are willing to share their knowledge and experience. 

Please message me if you are willing to assist. Thank you.

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By mrme89
20th Apr 2018 16:06

You should probably post your location, the commitment your require from the mentor, and how much you are willing to pay.

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By Temwa
to mrme89
20th Apr 2018 23:12

Thank you for your advice. I will think about it and take it from there. Having said that, I feel that this platform will provide most of what I need.

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20th Apr 2018 16:24

hi, you would do pretty well by having a long read up on "starting up a practice" posts on here.

This forum can be pretty helpful if you ask SPECIFIC questions

It will also help you get good responses if you answer other peoples questions and people see you about. Good practice too if you are not used to working this side of the fence, as people can then correct you if you stuff it up. Like what I do as I am rubbish at tax despite doing this for a day job for 15 years.

Doubt anyone will just be your personal mentor just for kicks, its a time consuming thing to do unless you are pretty bored, but if you join in the community you will get a whole range of help, some of which may be very direct and rude, but often makes a valid point.

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By Temwa
to ireallyshouldknowthisbut
20th Apr 2018 22:50

Thank you so much for your response and comments. Really helpful! I will be reading up more on starting up and the discussions on here.

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By Maslins
20th Apr 2018 16:54

Get yourself a niche (and "small businesses" is not a niche) that you know well, and tailor your business/marketing towards that. I was told that at the outset, ignored it as of course I knew better ("why would I write off ~95% of businesses out there?!"), then after a couple of years of being fairly unsuccessful, fell into a niche that's worked well.

In terms of mentor...as suggested above, where are you, what do you want (eg weekly face to face meeting, monthly phone call etc), and what (if anything) are you offering in return?

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By Temwa
to Maslins
20th Apr 2018 23:00

Hello Maslins,
I read an article containing that advice some time back and a friend suggested it too but I did not give it serious thought and instead was planning on taking on every client who comes my way, now I WON'T.. I know already what my niche is and will focus on them. Thanks.
In regards to mentorship, I feel so encouraged already with the responses here.

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20th Apr 2018 18:14

It never ceases to amaze me how often ACCA grant PCs to members who do not have the required practice experience. They seem to ignore their own rulebook more and more, presumably to protect the coffers.

Not a criticism of the OP (who should be applauded for acknowledging his lack of knowledge and for seeking help from experienced practitioners) but it does grate with me that somebody who admits to not having practice experience should be allowed to hang their ACCA shingle on the door. (Though this may just be sour grapes on my part).

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By emilyi
to Tim Vane
21st Apr 2018 11:04

I have an ACCA PC and it was an extremely thorough application process which took me several years to obtain. You have to demonstrate that you have the breadth of experience and it has to be signed off every 6 months by a qualified accountant who you work for. I guess there will always be cases where members can cheat the system and are just able to get it signed off by someone who's happy to sign anything, unfortunately.
How do the ICAEW get around that?

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By emilyi
to Tim Vane
21st Apr 2018 11:04

I have an ACCA PC and it was an extremely thorough application process which took me several years to obtain. You have to demonstrate that you have the breadth of experience and it has to be signed off every 6 months by a qualified accountant who you work for. I guess there will always be cases where members can cheat the system and are just able to get it signed off by someone who's happy to sign anything, unfortunately.
How do the ICAEW get around that?

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to Tim Vane
22nd Apr 2018 09:20

Does he have a practice certificate?

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21st Apr 2018 19:40

Good idea to see if someone might help mentor you and guide you as you set up your practice. You may get lucky.

I rarely work with start-up practices myself and only mentor accountants on a commercial basis.

What I can do to help you though is to point you at some of the advice I have shared to help start up practitioners.

Just before doing that let me stress that I hope you will not make the same mistake I have seen so many times. This is when someone decides to start up in practice, invests in a website and some marketing and EXPECTS this will be enough to win sufficient clients to earn a living.

It NEVER Happens like that I'm afraid.

http://bookmarklee.co.uk/key-tips-for-new-accountancy-practices/

http://bookmarklee.co.uk/10-key-actions-you-need-to-take-when-starting-a...

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By Temwa
to bookmarklee
21st Apr 2018 23:56

Dear Mark,
Thank you for the advice and the links, very good tips and many helpful and relevant articles on there. I liked your articles on start ups and growth.
The tips and advice I've got from here and many other sources have been very helpful and relevant in terms of what services I want to offer and where I want my firm to go.
Thanks again.

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