I am just about to start my own bookkeeping service, having brought Bookcert business kit. I also have a lot of experiance doing my own accounts over the years, so not a complete novice! However I could use some help with trying to work out how long it takes to build up my new business, I am aiming at small sole traders, new starts etc at first. Looking to market my services via letter to accountants offering my services, postcards in newsagents, local advertisers and leaflet drops of local businesses, any advice would be much appreciated.
I set up a bookkeeping business last year and it took me a couple of weeks to get my first client. I actually picked them up via a friend of a friend who mentioned I was setting up. I also joined a local networking club and slowly but surely started to see results. It took a good few months to really see the results of my marketing efforts but it's now paying dividends. On average I'm obtaining around one to two clients a month. It takes time and persistence but so far it's working.
One thing to mention is to consider going to your local council and see if there are any organisations that offer start up business advice. Often they run free training days covering the basics of running a business. On these courses will be other business novices who may be in need of a bookkeeper. Make sure you take some business cards with you though!
Thanks for the advice, I know it is going to take time, but its useful to know how long other people took to take on clients. I was thinking approx. 1-2 a month so its reassuring to have this confirmed.
I wouldn't have expectations that your business will be off the ground in the same time as Alan or anyone else. Though it may give you something to compare or measure yourself against.
There are just far too many factors involved that means something like that can not be so easily expected.
Your skills and qualifications;
Your contacts;
Your pricing;
Your presentation of the business (website, proposals, yourself);;
The economic conditions at the time;
Your location and market;
Your marketing and advertising; and more I am sure
You can simply consider these factors and do what you can to improve your position.
Alan raises good points - certainly the friends of friends - let everyone you know about your new business and get referrals anywhere you can.
If you have the funds have you considered trying to purchase a block of fees? I wrote to book-keepers locally when I set up asking if they were interested in selling their fee bank. I had a reply from one who agreed to sell all of her larger Sage Line 50 jobs.
The takeover could have gone smoother, but it didn't cost me the earth and it was a quick way to establish my business.
Hi Mag's, I had not considered that, but I suppose it depends on how much and if any one in my area was willing to sell their fee bank, if you don't mind me asking how much did you pay, you can pm me if you wish.
I agreed to pay 1.25 x fees above £2K, and there were also 4 payroll clients where we agreed 0.75 x fee. In total it cost just under £12K which I financed using a business loan. It worked for me although it is obviously cheaper to grow your own client base.
Thanks Mags, although that particular option may be to expensive at the moment for me, a great idea though to kick start your business. I think I will have to resort to building my business slowly and do some temping to start with and do self-employed work at weekend's and evenings at first.
Now is also a good time for you to get everything squared away for your business that can really help you, now and in the future.
Not sure how much of it is provided in the Bookcert kit you bought, maybe some or even everything I'm talking about.
You should consider getting your own templates sorted for providing proposals to potential clients, see what extra info you can include and even samples of reports you may be able to provide them with regularly - I've seen many small businesses ignore the benefits of regular management accounts, but jump when they see what they could be getting!
Of course your own logo/logotype, website, corporate stationery (even electronic versions only for letterhead) - and really have these sell you, create the right image you want to show to clients.
Also have a look at your own systems for managing clients, handling their work, how deadlines will be met. The tighter your management and control, the more you can concentrate on delivering an exceptional service.
As you can see the list can keep going with productive ways you can spend your time whilst working to bring new clients on board.
The Bookcert kit, has some execelent templates for marketing letters, leaflets and they even provide you with a website (mine should be up and running in the next 7-10 days) they also include a bound copy of the types of reports you will produce for clients, ie. Income & Expenditure, Bank Rec, Vat Rec, Receipts and Purchases, it looks professional although it is aimed at the sole trader and generated using a spreadsheet rather than accounting software. As you say now is a good time to get everything sorted and the ground work laid to start a good homebased business. However I'm not one to get carried away and I know it will take time and lots of hard work. I have today applied to ICB and plan to do Level 1 & 2 over the next few months. Going on holiday in the next few weeks so lots of other preperation to get done and then hopefully I will have everything in place come begining of September.
