Finding work and Clients

System

Hi
Having only considered venturing into self employment on a part-time basis, I would be interested to hear how all you MIPs out there find clients.

I understand that yellow pages and the like aren't the best way and that word of mouth is often the best. How do you give this method a catalyst and am I right in thinking that (in the early stages at least) you spend more time on work generating activities than you do on providing services?

Neil

System

Re:Finding work and Clients

Hi Neil
I started out last year and have gained about 70% of my clients by word of mouth. Advertising in the local rag is expensive and I personally feel it doesn't project the right image unless you can get a good editorial or a reasonable sized advert.
Some MIP's swear by the local parish magazine which I have taken on board myself but have to say so far since May I have had no enquiries but it's cheap advertising.
I have now decided to offer a discount to my current clients if they introduce a new client to me, so will see if that brings anything.
Overall, my biggest learning curve has been not to expect anything over night and that it is a slow process.
However, saying that my client base has increased ten fold since I started and in theory I'm still in my first year so all in all I'm happy.
This is only my experience on starting out and other MIP's may have very different experiences but what I can say is that I have never looked back.

Good luck for the future.

Sharon

System

Re:Finding work and Clients

Hi Sharon

Is there anything you do to help 'push' the word of mouth? I've heard networking is a good way, but then there are numerous methids of networking :roll:

System

Re:Finding work and Clients

I must admit that I haven't really pushed it that hard, I guess I've just been lucky with my own personal network of folks.
As for local networking, we have a group of local business's which meet up once a month for a breakfast meeting, which I am considering joining.
Look out for local magazines attached to the local paper as the advertising rates in those type of things are not too bad.
The other thing I forgot to mention is to try your local Business Link, they would be able to advise more on this sort of topic. If you haven't had a peep yet, their website is very good.
http://www.businesslink.gov.uk

System

Re:Finding work and Clients

Hi Neil

As far as I can work out the way to push the word of mouth is to have your house rebuilt and tell every tradesman what you do..... someone I know has managed to get about a couple of week this way

You do have to be quite upfront about it (not something that I am good/comfortable at doing) and just turn round and say to people "well, if you know anyone looking for a good accountant..."

Some people swear by their local chamber of commerce - I hardly ever go to ours because they seem to spend hours talking about things that don't interest me

Word of mouth is definitely the best - tell all your mates to tell all of their mates and their mates etc etc.

I really hope that it goes well for you Neil.

Claudia

System

Re:Finding work and Clients


Damn shame you're not down here in the Brighton area Neil. I constantly have two small companies hassling me to do their accounts for them and I'm not really interested since my full time job takes so much out of me!

Regards,

Robert

System

Re:Finding work and Clients

Never tried it myself but there is an 'opportunities' page on accountingweb. It's a page where people are offering there services:
http://www.accountingweb.co.uk/opportunities/

Sometimes people get a reply, though I have to say it isn't very often but hey it's worth a shot right?

How does self-employment work with your CIMA studies?

Regards

Dean

System

Re:Finding work and Clients

Hi

Generally self employment with CIMA is ok providing there is no reference to CIMA status etc (similar to the AAT).

Part of the reason I wouldn’t want to commit to self employment on a full-time basis at present is due to obtaining work experience for CIMA. In theory you could use self employed experience but it would need verification and can only usually be verified by persons with first hand knowledge of your work – which would be a bit of a vicious circle!

Neil

System

Re:Finding work and Clients

I have no idea about CIMA rules but I didn't think you were allowed to practice as an AAT (whether you mention the affiliation or not) without an MIP licence which you can't obtain as a student. Perhaps someone else could confirm.

With regard to networking, my practice was built up initially using online networking, predominantly on a site called Ecademy. There are also many others such as LinkedIn and Ryze. Most people signing up to the site are new businesses looking for advice and custom. There is huge client potential to tap into and I just don't have the time to do it any more.

If you have a particular client base you want to target (e.g. IT consultants) then try and find the forums that these guys hang around on and get known on there too. Offer a bit of free advice and people will soon come to you for more.

You can also try answering questions on the forums of TaxationWeb and leaving your contact details. I still get new clients contacting me from there and I havn't posted anything on that website for a couple of years!

AccountingWeb is a website for accountants so you will not get any response from advertising your services there. Unless perhaps you want to find an accountant you can do some subcontracting for or wish to purchase a block of fees.

Once you have built up a client base then you find you always get new clients being referred from your existing clients.

I don't spend a penny on advertising now and always tell Yellow Pages to sling their hook when they contact me.

Face to face networking can also be really beneficial but it is more time consuming. Avoid any events where you are paying a sizeable fee to be there. These are the ones where everyone seems to be selling and no-one seems to be buying.

Another good method I have used to gain clients is by giving lectures. I have done mini tax lectures for people on business start-up courses for free and then handed out my business cards. Rather than organising a lecture yourself, find out what 'paid-for' business start-up courses there are in your area. Find out who is running them and say that you are an accountant and would be happy to do a mini-lecture on tax or registering with HMRC or operating a payroll. You will find most of these courses are run by Business Link style advisers who do not really have the practical knowledge you do so are really keen to have an 'expert' on board to add credibility to their course.

Finally, my latest source, rent some hot-desking space at a business hub. I was going to one once a week and picking up new clients every time I was there.

Hope that gives you some ideas.

System

Re:Finding work and Clients

rent some hot-desking space at a business hub

Ye wot :shock: :shock: :shock:

I have got absolutely not the first idea what you mean :oops:

Claudia

System

Re:Finding work and Clients

It's a London thing!

Rather than rent an office, you just rent a desk. It could be by the hour or by the day, fixed or flexible.

You just turn up, grab a desk and get working. Kind of a halfway house between getting your own office.

Pretty much every person you are likely to meet there will be a small business, probably in need of a good accountant.

They are sprouting up in the big cities, often as part of a range of virtual office services. As an increasing number of people enjoy flexible working and working from home these places will become more and more popular.

System

Re:Finding work and Clients

Hi Dean

Thanks for your comments. Have you had much luck with Chamber's of Commerce for face to face networking? Ive heard several mentions that they can be usefull but have also heard rumours of them being not much more than "old boys clubs" - I guess it depends on the individual clubs.

On the issue of self employed students, CIMA have confirmed their stance by email but the AAT give details here

http://www.aat.org.uk/students/display/store4/item36217/

Neil

System

Re:Finding work and Clients

I've read something about hubs here in Swindon (had a look after Dean mentioned it!) and it seems to be taking off all over the place.

My tip is to give out your business card at every opportunity. I took my car in for it's MOT today, to the same garage I have used for years, and handed over my card so they had my mobile number. When I collected the car the owner started asking me about my rate etc, as he may be looking for a new bookkeeper soon!

System

Re:Finding work and Clients

Thanks for the link Neil, interesting reading.

I have never tried my local Chamber of Commerce but I am sure it would be a good move. For that type of face to face networking you have to be prepared to put yourself out there and sell your services, something that I (and lets face it, many of us) are not always comfortable doing.

However, the more you do it the easier it becomes, just depends on your personality I guess. Mind you, if we had personality we wouldn't be accountants!!

System

Re:Finding work and Clients

Hi,

I have been going for two and a half years now.

My initial clients where my family, no fees there :evil: But they soon started talking and then it was their friends, still reduced rates :twisted:

My local area has a free be called 'Friday Ad' I have advertised in there and just cannot keep up with the response rate. I only advertise in small blocks now, just to 'keep my name out there' (My husbands words.

I have found that it is very time consuming to take on new clients ie paperwork, 64-8 etc, but hopefully when I reach capacity then I should reap the reward and recoup some of these costs then. year 3 I would say

Julia