Building up a client list
Your first few clients may come from family and friends but what after that? Referrals may take time to come through and the process of marketing is far more complex these days.
This resource has been developed for the UK market – if you are not based in the UK then you should consider how the information and advice can be applied in your market.
Our UK partner - PracticeWeb - has produced a startup guide to marketing for accounting firms. It's aimed at helping startup firms create a marketing strategy and plan and can be downloaded from their website.
We've also collaborated with PracticeWeb on a series of podcasts on how to grow your practice through data driven marekting. The introductory podcast is now available with five more to follow - one a week starting early August on topics like how to create a marketing strategy and plan for your practice, how to market your firm on a budget, and how marketing can help overcome the price objection. Find out more and listen.
Where do clients come from?
Our Secret Accountant (an accountant working in the heart of England) gives advice on how to build your client list, from the ground up.
- Secret Accountant: Where do clients come from?
- Starting a practice part two: Marketing and selling (webinar).
Buying a practice
Our UK-based Secret Accountant looks into an alternative to starting from the ground up - buying an establised practice. Find out about the benefits (and pitfalls).
Buying a practice is likely to involve a need for financing (unless you have substantial savings). Options in the UK include:
- Bank loan
- Private investors such as Business Angels
- Business finance specialists that act as brokers (not all brokers are alike with some charging you commission and others charging the lender)
- Crowd funding through providers such as Funding Circle.
Many accountancy practice sales agents will signpost funding sources on their websites.
Whatever funding source you decide to use, make sure you do your research and due diligence and read the fine print.
Ethics and conduct
The ACCA Rulebook has a code of ethics and conduct covering specific areas in which we regulate our members. It includes various sections that are relevant to a new practice seeking additional business from new and existing clients. Download the factsheet 'Obtaining professional work' for guidance.