My Week: Expansion

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Hello folks. A delayed My Week post. It was a very busy week.

On a personal note, I am not residing in my own home at present. I have no idea how long this will last. Surprisingly, I do not miss my humble abode. I like where I am at present.

I will give it at least a few months before deciding to make a permanent change of address.

Options

Most of my week was taken on reviewing the options on expanding and more importantly, replacing the fees lost.

I will be losing two more clients since their companies will become dormant.

Marketing 

I am seeing the effects of NOT following what I was preaching. This, as I am sure you know, marketing needs to be a continuous activity.  Clients will leave due to circumstances beyond their control. Lost fees need to be replaced.

Side note to self - DO NOT IGNORE MARKETING AGAIN! What happened to you!

I made the mistake of taking a back seat on marketing for a significant amount of time.

On a positive note, more recently, I am beginning to see the benefits of a prominent retail unit. They have been some walk-ins. I am sure they will be more through repeatedly seeing the retail unit.

Year Ends

90% or more of our limited companies clients have 31 March year Ends. Our annual cycle has started once again. We combine March accounts with personal tax returns this will also ease the January madness that only the smug accountants do not go through.

Reminders for the request for information went out on 1 April.  Early indications are it is better than last year.

Q is working hard to ensure I will be okay when she goes on a month's leave in a few months time.

MacBook Pro

I bought my MacBook Pro October/November last year. Until this week, I have not used it. I started to use it since I am not in my home. It is a fantastic laptop. Costs a lot! As some techies would say, I paid Apple tax. Yes, but it will last me years. It is quality.

Health and Fitness

Not being at home threw my gym and cycling routine. My daily cycling commute has shortened from 6 miles a day to 2 miles a day. Further, I did not go to the gym for the whole week.

It is important that I keep up with physical activity. It is good for my wellbeing and my productivity. I think I have put on a few pounds. I will make sure I get into a routine next week.

 

About FirstTab

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Blogs about my week in a boutique practice. My independent channel: https://accountantblog.co.uk/

Replies (3)

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By Red Leader
08th Apr 2019 12:14

What happenned on the home front?

You're right about the need for constant marketing. It is inevitable that some fees will cease. You need to be concerned however if you need to do a LOT of marketing just to maintain a steady state.

Thanks (1)
By Glenn Martin
10th Apr 2019 13:06

FT what’s the story with moving out of your home have you moved in with your bird.

On the expansion from have you put a number on number of new clients you would like or an income amount you would like to grow by

I am looking at 30% increase in income this year most of which I am hoping will come from existing clients taking more services plus some reprising of existing work that needs to be reviewed

Thanks (2)
Replying to Glennzy:
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By Matrix
14th Apr 2019 07:35

What additional services will you be offering and how do you get clients to take these up?

There are loads of posts on advisory services but I don’t know what this means.

Is it preparing monthly cash flow or management accounts or something else?

FT - thanks for the tip on marketing, we are so busy with prospects that I was going to stop marketing but it is a reminder to not get complacent.

Thanks (1)

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