Being an accountant is one of the most popular professions out there, and if you love both numbers and helping people with their problems, it might just be for you. However, for many in the industry, simply working as an accountant isn’t enough.
Many want to branch out and start their own firm, but unfortunately, that is very often easier said than done. There is a lot to consider and think about if you want to make the jump from employee to business owner. With that in mind, this article is going to offer up a few tips that can help you start your own accounting firm.
Market Yourself Correctly
Just because you work for a large firm and were successful there, doesn’t mean those clients will automatically follow you to your new firm. When starting an accounting firm, you should expect to have to start from scratch when it comes to getting clients. As a result, it is incredibly important to market yourself correctly.
There are a million and one different ways to market yourself as a new accounting firm, and what you decide to do will depend on your unique situation. You could take out ads for accounting Perth, could come in at a lower price point than competitors or offer unique services or promotions.
Know the Clients You Want to Work With
When starting your own accounting company, you need to have a plan. One of the biggest parts of this is to know what sorts of clients you want to work with. While you can indeed market yourself towards every type of client, it might be tough to get a leg up on the competition that way.
Instead, you should zero in on a type of client that would benefit the most from your unique skill set. For example, if you are great at helping self-employed people with their taxes, it makes sense to look at the small businesses in your area. As you grow, you can begin to expand the type of clients you take, but early on, it is important to only take on what you can handle and are skilled at.
Choose the Right Tools
When starting your own accounting company, one of the first things that you need to do is find out and discover the types of tools you need. Of course, the big one is to decide what type of accounting software you want to use. There are a wide variety of different pieces of accounting software that you can use for your business.
Each has their own costs, features, benefits and downfalls, so be sure to check out multiple different options and research them. Also, with most of these popular companies having thousands and thousands other users, there are a ton of online resources and courses that can help you learn these new types of software.
Hire the Right Team
While your company might just be you at the beginning, as you start to get more clients, you will likely need some employees to help with the workload. Your team should be qualified, should get along with you and be able to make a valuable contribution to your firm.
If you hire the wrong team, it can really hurt your company both in terms of performance and in terms of public perception. In addition to hiring an experienced team, you should also ensure that they are passionate about your mission and company.
Hopefully this article can help you out on your journey to starting your own accounting firm. It can be a big undertaking, but if done correctly, it can be well worth the hard work and investment.