Accountants build businesses

30th Apr 2021
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The upheaval of the past year has caused a lot of people to reexamine their work.  Perhaps you have started thinking that now is a good time to open your own accounting firm. There are certainly challenges to going it alone, but there can also be enormous benefits – you’re the boss, you choose your own focus, and decide on your own pay.  There are some key things to do in order to ensure the success of your own firm: come up with a strong business model, harness the power of the internet, and choose the right accounting software, preferably one that works well with a secure payments system like Ordo.

Define the basics

Before you dive right in and start your own accounting firm, it’s vital to have a strong business model. Some of the questions to ask when creating your business model are:

  1. What services do you want to offer? It’s important to define your focus, so you have everything you need to do the job well. If you offer too many services, you risk spreading yourself too thin.
  2. Who is your target client? This question goes hand in hand with the one above. Maybe you want to focus on doing tax returns for individuals or perhaps you would like to provide multiple services but for a particular sector. Defining your client base will help you not only decide on the tools you need, but also market yourself appropriately.
  3. How will you stand out from other similar businesses? Think of what will set your business apart and have clients choosing you over competitors. 

Create a strong internet presence

Even if you have a physical office space, many of your clients will discover your business through your website and social media presence. Once you have defined your prospective clients, you can design a website that will appeal to them. Social media like Facebook and LinkedIn are also important tools because they allow clients to refer you and they help you network.

Choose the right accounting software

The right accounting software can help make things easier when starting your own business. Accounting software can automate many repetitive and time-consuming tasks. Additionally, many packages use the cloud which means that current data is always available to you and the client. Finally, look for a software that partners with other services you might need like a secure payment system. Ordo is a payment service that helps you securely invoice clients and get paid instantly. It is fully integrated with Xero and Quickbooks and is also, the  official payments Open Banking partner with Sage and can be found in the Sage marketplace. Ordo is a great tool for retaining clients because it’s so easy to use. Clients don’t need to download an app or input sensitive bank information in order to make a payment with Ordo. By clicking a secure link from their mobile or internet connected device, they can see the invoice you’ve sent and pay you instantly. Find out how Ordo can help you in your new business venture. Arrange a demonstration today.

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