If he thinks his profit is £300 its probably much less once you have established all true expenses so is there an opportunity to create value by maxmising losses to utilise against employment income or carry forward?
I am working from home as been ill over the weekend. I don't like it! Seems wrong not to be in especially after having a day off on Friday. Still, sometimes better to clear it out then get back on the saddle fully refreshed.
Another question could be where can I get the RIGHT clients?
Get the right clients then you can grow the base, get referrals, get the right price with the right work, get a name, partner up, and grow a very profitable business.
Go for volume and take on all comers from every different type of industry and you may be busy but you may not be profitable.
Get the right clients by creating a business model first then going out to get those that fit it and alienating those that don't.
Its better to be a big fish in a small pond than a small one in a big pond.
If you are a one man band then very difficult to be a general practioner these days.
I don't charge but I use the consultation to establish whether we are right for them and vice versa, not for an hour of free advice. I give some basics but when i can sense a timewaster probing for free advice I say to them that I cant give them such advice unless and until they become a client. That approach has worked for me.
Getting clients is easy you just have to use your imagination and work hard at it as you are starting from a standing start and have no real client base to refer for you.
In no order of success try these out and track what works:
Goo website and good SEO so people find you. Be different from the usual bland offerings that firms give. Use the wording of the site to attract your target market but also to put off the type of clients you don't want.
Go and see your local banks. Get to know the small business manager and explain how you can help their clients - add value, again do more than offer compliance. Get the banks referring start ups to you.
Go and see your local insolvency practioners - tell them to refer and you will help their clients start again and get it right this time.
Use social media but be different.
Go to networking groups, this is a must, network like crazy and build your network, develop your public speaking skills in addition to generating new business.
Tell all of your friends and family, ex colleagues, EVERYONE you know, that you are looking for new clients. Your town is your networking group, weddings, school gates, parties, all good events for picking up new clients.
Get a referral incentive scheme in place to incentivise people as well as clients to refer you.
Advertise (carefully though - dont throw money at this, make sure of the reach)
Cold call. Scared? Get over it.
Mail outs (be different, add value, use a hook)
Speak to bookkeepers in your area, try and work a reciprocal arrangement. Same as for IFA's
Use forums if working for a niche.
Give talks at local business events - even better, hold your own.
Advertise an 'open day' for local businesses.
Buy clients from retiring accountants.
Offer outsourced work to other accountants.
This is top of the head stuff, there are many more ways to get clients and it will all become easy the more experience you get and the better you become at sales, and opportunity spotting. Trick is, once you get them, to wow them and make sure they start doing your marketing for you by telling all of their peers how great you are.
With that. Approaching them will probably rub salt into the wound when you see how totally disinterested they are in these types of dispute.
I would be tempted to inform all of your counterparts in your local area - dual beneift of stopping him getting more work and also protecting any other accountant from suffering the same.
Off the record, of course.
Then move on, lesson learned. Not worth worrying about.
The whites of the eyes of anyone that you are going into a business arrangement with much better protection than any contract you can draw up.
My answers
Good to see you all again, shame I had to shoot off early.
Great to meet the Legend that is FirstTab.
Meet up
I'd be up for this.
Would prefer London, would consider Brum.
Losses
If he thinks his profit is £300 its probably much less once you have established all true expenses so is there an opportunity to create value by maxmising losses to utilise against employment income or carry forward?
Going forward they will sortb themselves out and follow your advice?
Chances are, they will say that again on the 31 December 2015!
Sick day
I am working from home as been ill over the weekend. I don't like it! Seems wrong not to be in especially after having a day off on Friday. Still, sometimes better to clear it out then get back on the saddle fully refreshed.
Clients
Another question could be where can I get the RIGHT clients?
Get the right clients then you can grow the base, get referrals, get the right price with the right work, get a name, partner up, and grow a very profitable business.
Go for volume and take on all comers from every different type of industry and you may be busy but you may not be profitable.
Get the right clients by creating a business model first then going out to get those that fit it and alienating those that don't.
Its better to be a big fish in a small pond than a small one in a big pond.
If you are a one man band then very difficult to be a general practioner these days.
Jason Dormer
Seahorse (UK) Ltd - For Accountants and Bookkeepers
Consultation
I don't charge but I use the consultation to establish whether we are right for them and vice versa, not for an hour of free advice. I give some basics but when i can sense a timewaster probing for free advice I say to them that I cant give them such advice unless and until they become a client. That approach has worked for me.
KentAccountant
I take your point but it's only hard work if you don't enjoy it. To me, dealing with HMRC is hard work, gaining new clients is easy and enjoyable.
If you are not a people person then its going to be harder but you either overcome that or get someone in who is, and use their skills.
As for you, 130 clients in 2.5 years in itself is an excellent return so you obviously know how to connect and how to sell. Good stuff.
Getting clients is easy you just have to use your imagination and work hard at it as you are starting from a standing start and have no real client base to refer for you.
In no order of success try these out and track what works:
Goo website and good SEO so people find you. Be different from the usual bland offerings that firms give. Use the wording of the site to attract your target market but also to put off the type of clients you don't want.
Go and see your local banks. Get to know the small business manager and explain how you can help their clients - add value, again do more than offer compliance. Get the banks referring start ups to you.
Go and see your local insolvency practioners - tell them to refer and you will help their clients start again and get it right this time.
Use social media but be different.
Go to networking groups, this is a must, network like crazy and build your network, develop your public speaking skills in addition to generating new business.
Tell all of your friends and family, ex colleagues, EVERYONE you know, that you are looking for new clients. Your town is your networking group, weddings, school gates, parties, all good events for picking up new clients.
Get a referral incentive scheme in place to incentivise people as well as clients to refer you.
Advertise (carefully though - dont throw money at this, make sure of the reach)
Cold call. Scared? Get over it.
Mail outs (be different, add value, use a hook)
Speak to bookkeepers in your area, try and work a reciprocal arrangement. Same as for IFA's
Use forums if working for a niche.
Give talks at local business events - even better, hold your own.
Advertise an 'open day' for local businesses.
Buy clients from retiring accountants.
Offer outsourced work to other accountants.
This is top of the head stuff, there are many more ways to get clients and it will all become easy the more experience you get and the better you become at sales, and opportunity spotting. Trick is, once you get them, to wow them and make sure they start doing your marketing for you by telling all of their peers how great you are.
Jason Dormer
Seahorse (UK) Ltd - For Accountants and Bookkeepers
Good luck...
With that. Approaching them will probably rub salt into the wound when you see how totally disinterested they are in these types of dispute.
I would be tempted to inform all of your counterparts in your local area - dual beneift of stopping him getting more work and also protecting any other accountant from suffering the same.
Off the record, of course.
Then move on, lesson learned. Not worth worrying about.
The whites of the eyes of anyone that you are going into a business arrangement with much better protection than any contract you can draw up.