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Start up - becoming better at what we do

Start up - becoming better at what we do

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Hi,

My colleague and I have only recently set up. I'm AAT, ATT (student) and she is ACMA. We both have a few years small practice experience (plus a few more years in industry in her case). 

I, (like many startups I suspect) am slightly nervous about cocking up/being out of our depth. Currently our business model is pile it high and sell it cheap. These clients are generally straight forward.

Recently, more sophisticated potential clients (a couple of GPs for example, I have heard they can be a minefield) are contacting us. It's a tough decision, these clients pay well but obviously the consequences of screwing up their affairs could be severe.

I don't want to make a habit of turning down lucrative clients. So I am curious as to what members think of my plan for dealing with this issue (and any advice/ recomendations would be greatly appreciated)

Short term:

1. Establish a working relationship with a respected specialist(s), I suspect there's a couple on here?

Medium term

2. In house technical improvement. This is the tough one, there's millions of resources out there. I have found this tax planning set:

http://www.lexisnexis.co.uk/store/uk/Tolleys-Tax-Planning-Set/9780754547...

Looks good, but so does Tolleys Taxwise 1&2 etc.

Long term

3. Perhaps study for the CTA qualification? I'd rather not, but I guess it makes me more employable if the business goes wrong.

Sorry if the question is long and a bit vague - basically we're a sausage factory and we would like to gradually develop the capability to offer higher value services.

Thanks in advance for any opinions

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By memyself-eye
29th Oct 2013 19:40

Nothing wrong with sausage factories

Make haste slowly would be my advice and don't be impressed with 'respected specialists' as you may know,a specialist is someone who knows more and more about less and less until they know everything about nothing!

Thanks (1)
By Sarah Offord
29th Oct 2013 22:19

SWAT Online Webinars

Excellent value for money at about £30 per month for unlimited access to their technical webinars. This might help with the in house technical improvement side of things.

Best of luck

SD

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By Archon
30th Oct 2013 13:31

Thankyou

Thanks very much,

SWAT looks like it could be just the ticket

 

Thanks again

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