How do Accountants find clients ?

[ali_g]

Hi, i am new to the forums so please be gentle with me .
I have read a lot on the forums about how business owners choose an accountant for their business but i would like to spin this around and ask how do us accountants choose which businesses to offer services to.
I have heard a lot of horror stories from accountants who spend hours pouring over a hot laptop/calculator only to end up out of pocket by non-payment.
Any comments from you guys ?

 

[faradaykeynes]

Welcome to forum Ali, business always need a factor of risk to grow. To be cautious, do your credit checks and homework. Setup monthly D or standing order.

 

[DFL]

It's all down to marketing and credit management.

Your marketing strategy, from your website to your location (home or office) to your branding and pricing should all be consistent to attract the right clients for you.

No point in trying to be all things to all people, your marketing should also try to ensure that you do not attrract clients you don't have the expertise / resource, experience or inclination to serve.

Once you have potential clients contact you you then have a meeting to establish wheter there is a right 'fit' for your business and the client.

You can use the consulation to gauge the client, see if you want to or can work with them, and weed out any potential problematic clients. Ask questions to see what their attitude is, what their expectations are, how credit worthy they are. Agree a price and scope it out so its in writing. Any change to the initial brief then issue a revised engagement letter and change the price accordingly. Don't give away time.

With regard to bad debt, try and get clients on standing order, or if its one of work then set a credit limit and ask for an initial payment up front with balance on completetion. Do staged billing. Get a PG from directors. Factor in a small element for potential bad debt into your projections - no matter what measures you take there is always a risk, the key is to minimise it not only with outstanding invoices but also WIP.

It's very easy to take on all work at the outset to try and build up your client base and income, though as you gain experience you will learn to also say no, and sometimes to rely purely on your gut instinct when meeting a client.

Jason

 

[talkinpeace]

word of mouth
personal recommendation
I do not advertise - then again I only work part time.

 

[faradaykeynes]

local networking is very important, not only you get to spread the word about you but also find out about businesses views on particular potential client and their reputation.

 

[Deleted member 145999]

i got lots of clients in my first month because of recommendation, and also through Facebook and my website
also I'm working remotely therefore I'm a bit cheaper than others good luck x