Haychd, I don’t think the answers you got added much value for you, that’s not to say there is some useful advice on there. You might want to try a networking group, Chamber of Commerce for connecting you to people who can refer you to clients, you might alternatively want to present yourself to practising accountants who will use you as a subbie for a %age of fees, you might also want to get with commercial banking contacts who sometimes have either affiliate schemes for finance providers or do reciprocal referrals. Bags of channels out there to pick up accounting work as a side hustle.
If I were you, I would have a chat with a sales orientated person, about the same thing, to get their perspective, and maybe keep in touch with them as a mentor as you grow, until you have enough confidence to grow your client/customer base at a pace which suits your ambition.
This is fair thinking I guess Paul, but how would resignation help shield against something criminal? (I think this is what's implied) I'm thinking more along the lines of... freedom from restrictions Chartered bodies impose on members, liabilities they can impose in regard to members' behaviours (e.g. non-payment of debt) and CPD compliance.
So, freedom from restrictions, avoiding potential liabilities, no CPD and hoping no effect on future career, if working in industry.
Thanks for this DJKL. Dutch customers have requested this, they do not want to pay into a UK Euro account. Unsure of the exact reason, would I be right in assuming SOX/money laundering related?
I quote for standard stuff based on client pricing matrices. In this way, I don't promise different to what will be delivered. I never quote for more complex stuff, I simply refer this on as/when it comes up. I mostly get standard, quotable stuff coming through my channels, so no issue.
Glad to hear you have an easy process for onboarding clients. Out of interest, what is you most successful channels? Networking groups, buying blocks of fees?
Thanks for the handbook, I'll take a look. I guess I need to get the detailed advice on this... otherwise I may be uncompliant, and risk jeopardising my membership, which is the last thing I want to do.
I will do this. I think maybe better from the horse's mouth.
Re an ACCA trained accountant doing this type of thing, true. But there is a strength in learning how to sell these types of services, and as I get better at it, the bigger the opportunity becomes. For me, it's a side gig as I am employed in industry, and I'm kinda blocked from practice as practice owners don't really seem to want to start an accountant who has spent most of their career in industry. This said, it's my only way to tap into the world of practice - for now...
Thanks DJKL. For non-sales, we have salaries with a small company performance related bonus.
Re sales team, I would like to ensure that we have a scheme in place which rewards delivery and encourages talented, driven sales people, without over egging beyond a possible market rate.
T/o UK £7M
T/o USA £2.5M (eqGBP)
Require w/cap of c. £9M eqGBP to grow x 10 @ £1M eq GBP w/cap per T/o incr. in USA
These are just rough figs to give you an indication of the level of funding sought.
My answers
Haychd, I don’t think the answers you got added much value for you, that’s not to say there is some useful advice on there. You might want to try a networking group, Chamber of Commerce for connecting you to people who can refer you to clients, you might alternatively want to present yourself to practising accountants who will use you as a subbie for a %age of fees, you might also want to get with commercial banking contacts who sometimes have either affiliate schemes for finance providers or do reciprocal referrals. Bags of channels out there to pick up accounting work as a side hustle.
If I were you, I would have a chat with a sales orientated person, about the same thing, to get their perspective, and maybe keep in touch with them as a mentor as you grow, until you have enough confidence to grow your client/customer base at a pace which suits your ambition.
This is fair thinking I guess Paul, but how would resignation help shield against something criminal? (I think this is what's implied) I'm thinking more along the lines of... freedom from restrictions Chartered bodies impose on members, liabilities they can impose in regard to members' behaviours (e.g. non-payment of debt) and CPD compliance.
So, freedom from restrictions, avoiding potential liabilities, no CPD and hoping no effect on future career, if working in industry.
That's it really, just exploring.
Good point, doing this may swallow up the current tax advantage marginal rate for Dutch entity 15% atm vs 19% in the UK... :(
Thanks for this DJKL. Dutch customers have requested this, they do not want to pay into a UK Euro account. Unsure of the exact reason, would I be right in assuming SOX/money laundering related?
I quote for standard stuff based on client pricing matrices. In this way, I don't promise different to what will be delivered. I never quote for more complex stuff, I simply refer this on as/when it comes up. I mostly get standard, quotable stuff coming through my channels, so no issue.
Glad to hear you have an easy process for onboarding clients. Out of interest, what is you most successful channels? Networking groups, buying blocks of fees?
Thanks for the handbook, I'll take a look. I guess I need to get the detailed advice on this... otherwise I may be uncompliant, and risk jeopardising my membership, which is the last thing I want to do.
I will do this. I think maybe better from the horse's mouth.
Re an ACCA trained accountant doing this type of thing, true. But there is a strength in learning how to sell these types of services, and as I get better at it, the bigger the opportunity becomes. For me, it's a side gig as I am employed in industry, and I'm kinda blocked from practice as practice owners don't really seem to want to start an accountant who has spent most of their career in industry. This said, it's my only way to tap into the world of practice - for now...
Usually, ha! But not on this occasion.
Thanks DJKL. For non-sales, we have salaries with a small company performance related bonus.
Re sales team, I would like to ensure that we have a scheme in place which rewards delivery and encourages talented, driven sales people, without over egging beyond a possible market rate.
Thanks WT,
T/o UK £7M
T/o USA £2.5M (eqGBP)
Require w/cap of c. £9M eqGBP to grow x 10 @ £1M eq GBP w/cap per T/o incr. in USA
These are just rough figs to give you an indication of the level of funding sought.
Regards,
RA