Getting an accountancy firm off the ground

I started my accountancy practice, Scullard & Co, five weeks ago.  I've now (finally) got my website sorted and letterhead so it's time to get the marketing drive started.

4N aside, what have others in the same situation found works?  I'm tempted to throw a few quid at Adwords just to get the phone ringing and I have someone dealing with my SEO and Google places.

What are the general views on things like email marketing, direct mailing, telesales, etc?  Are there any other accountants out there with experience they are willing to share?

Thanks

Chris

Hi Chris. I think it's well worth speaking to a professional marketer and getting their help and advice. Although you can do a lot of things yourself it will be far more effective for them to use their expertise to come up for a plan for you based on a full understanding of your business - certainly it's something that I regret not doing when I first set up. 

I'd recommend speaking to Jen Hinds – she's only based over in Stockton Heath so not a million miles away.

Ah thanks for the recommendation Dave!

Chris - first of all well done for getting involved with 4N so early in your business's life! It's by far the best thing I ever did for my business. And the reason it works so well is because it's all about building relationships with people - getting them to like, know and trust you - as that's when people give you their business, or give you referals.

I always apply this same principle to all marketing. So whatever you are considering, ask yourself whether the specific activity will help you build a relationship / improve upon an existing relationship with your target market. Of course to answer this properly you need to have a really good understanding of who your target market is, and how your service meets their needs / solves their problems. And this is where the planning bit comes in. A marketing plan doesn't have to be a huge tome (in fact please don't make it one!), but it should set out who you are targeting, what solution you bring to them, and what your message is (i.e. why they should choose you / what makes you different etc). When you have done this, then you can look at what type of media you can use to get that message across.

Ideally you'd use a variety of ways. Networking being one - both offline (i.e. 4N meetings) and online (use the forum to connect with people, help them out, demonstrate your expertise, chat!); but I'd also recommend using other social media (Twitter, LinkedIn etc) to complement your networking. If you do this consistently, you'll build your list of contacts and from there you can build on the relationships using other means - such as email marketing etc. But the "warmer" your contacts are when you start to email them (warmer = the better your relationship already is with them), the more successful your camapaign will be.

In all your marketing activity, remember what you as a customer like or dislike. (If you're like most people, you probably like to receive value, but don't like being sold to - so keep this in mind when developing your messages....)

Hmm - I think I have waffled on a little there. I'll blame it on the time and the busy day I've had! Happy to have a chat if you like Chris. Feel free to give me a call or drop me a line.

Maybe see you on the 4N circuit soon! What meetings do you tend to go to?

And finally - best of luck with the new business!

Jen :)

Hi Chris

Let's chat at Altrincham on Tuesday or DM me if you want to chat before then

Personally i'm not a fan of Adwords and feel you will get more out of other methods - 4N being a great start to meeting new contacts who can help push you in the right direction

Of the 3 accountants I know they all use very different methods to get new business

A) Print Advertising in local handbooks
B) Telesales through franchise headoffice
C) Offline Networking meets social media

Social Media like offline networking is a longterm strategy rather than instant effect so needs to be used in tandem with other marketing methods

When if your website ready as holding page doesn't give enough info to get people's attention just yet

Alex
 

Feel free to Give me a buzz. 

I was in the exact same position a couple of years ago. I am now looking to expand the business after somw pretty rapid growth.

I also offer a mentoring service aimed at mainly at bookkeepers but also new accountants www.philhendy.com The marketing element mY be if interest to you.

Hi Chris,

It may be worthwhile partnering up with other local specialists in your area - for example, financial and mortgage advisers (if you haven't already).

This can also be a good source of reciprocal leads and perhaps even some additional income - which will increase your client services for minimal outlay.

HTH.

Thanks

Stuart

Hi Chris,

Like Phil above, I started from nothing (ie no clients) almost 3 years ago.

At the beginning it was really tough.  Unless people are unhappy with their current accountant, don't expect them to move to you just because you smile sweetly/are 10% cheaper/whatever.

But...once you've got a small client base (and assuming you don't make any big cock-ups!) it becomes fairly easy, as people will start to recommend you to their friends & colleagues who setup.

As to tips, get out there as much as possible to meet as many businesses as possible.  Do get a decent basic website in place, and try to make it a little different to most other accountant's websites.

Have you decided what kind of client you're looking for?  Will you be dealing with a wide variety of micro businesses, or do you intend to aim at a specific niche, perhaps involving a tax specialty you may have?  From personal experience, if you start off trying to be everything to everyone, you may well come unstuck.

I don't bother with it any more (as not concentrating on local market) but checkout Michrome, they can give you details of new companies in your area, potentially free if you're happy to have info on ones incorporated ~4 months ago (or you can pay to have more up to date info).

Of course, you've always got the potential option of looking to buy a block of fees.  I was certain I didn't want to do this (wanted it to be my baby), but if you've got a bit of cash/access to lending, but need to create a reasonable income fairly quickly, this can be a good route.

Sorry I didn't give a more detailed answer earlier, I was on my tablet, which doesn't always react well with this site!

Chris has nailed on some of the main points - mine really was getting out there. As well as 4networking I set up a local evening networking group and just got out meeting people.

As well as that a good use of social media will help as this is effectively free!

I am now at a point where I get referrals regularly from clients, contacts and people online. 

Thanks for all the information guys.  It's much appreciated. 

Hi Chris.. for what its worth, ... just one persons opinions....I would think it strange getting emails from someone I hadn't met about a new accountancy practice.. I wouldn' t think it odd if we met at a chamber/ 4N/ BOB etc group and you gave me a card and simply asked if I already used an accountant, and if not, would I consider you if I ever wanted to. ( The answer to that would be yes )

What about a small survey to give to people at these events to find out peoples attitudes to using an acc if not already doing so, or attitudes to change if they are.

Happy to chat or complete a survey for you if you like !!

Otherwise good luck anyway

Andy

Can I endorse Phil Hendy as he has been brilliant at keeping me on the straight and narrow with technical and business advice and now my own business is building quite nicely.

All the best.

Adrian.

ps.Of course that won't stop me to continue pestering Phil and if you want to know more please feel free to pester me!

Hi Chris,

I started my practice 3 years ago this month and it has grown largely on word of mouth from existing clients and since joining 4N from there too.

But when getting started I can highly recommend enterprise centre's - not sure if you have these in the mainland but they're all over the place here and are in touch with new start up businesses all the time - very often they are happy to recommend someone for accountancy so its worth meeting with them and getting to know someone.

Otherwise, 4N is the best platform I have found and have taken on 8 clients since 1st August - majority of which came through 4N

All the best with the new practice - you will not regret the decision, definitely the best one I have made!!

Thanks Adrian

Hi Chris

Thanks for starting this thread!  I'm in exactly the same position as you.  Started up about 5 weeks ago and alth advice above is fantastically helpful.  Thanks to all.

...another tip would be to sign up straight away with a call answering service such as JAM <--affiliate link.

In the early days I stayed in a lot more than I should because I was terrified of missing a call from a potential client.  A watched phone never rings...but similarly, when any potential leads do come in, it doesn't look great if they get the answering machine (especially if you don't bother to personalise it).

With a call answering service, you can be out the majority of most days, networking/shmoozing/whatever, and for a tiny outlay, you'll have a professionally answered phone, where people are far more likely to leave a message.