So you’ve decided to open your own accounting firm. The accounting business is one of the most lucrative out there, in large part due to the fact that there will always be clients, no matter the state of the economy.
Not Enough Investment
A modern business simply can’t forgo proper marketing. Decrease the likelihood of slow business by boosting your brand. The good news is, if you increase your marketing and you provide a good service, word will spread.
Not Investing In A Website
Your website is going to be one of your strongest marketing strategies. Having a professional platform for potential clients to visit will build confidence and garner your brand a better reputation. Gone are the days when websites were optional; now it is a vital tool that you need to invest in now to benefit you in the long-term.
Balling Too Low On Your Services
If you have participated in the accounting industry for a few years and you are venturing out on your own, don’t make the mistake of setting too low a price.
Don’t fall into the trap of cutting corners. Not only does that leave you liable to repercussions in the future, but you will risk legality issues and ruin the integrity of your business.
Failure To Brand Your Service
Not everyone who seeks an accountant knows what they are asking for. Unfortunately, they won’t know if you are what they’re looking for at all if you don’t describe yourself.
There’s plenty of preparation work that goes into opening an accounting firm, and the sooner you get started, the better. Perhaps you haven’t yet achieved your CPA designation; study up with resources and give yourself the best chance of passing on your next attempt.