{"id":102267,"date":"2022-09-21t12:00:58","date_gmt":"2022-09-21t16:00:58","guid":{"rendered":"\/\/www.g005e.com\/?p=102267"},"modified":"2024-08-07t23:10:32","modified_gmt":"2024-08-08t03:10:32","slug":"how-to-get-into-your-own-cpa-practice","status":"publish","type":"post","link":"\/\/www.g005e.com\/2022\/09\/21\/how-to-get-into-your-own-cpa-practice\/","title":{"rendered":"how to get into your own cpa practice"},"content":{"rendered":"
<\/a>bonus: 14 tips on getting your first clients.<\/strong><\/p>\n by ed mendlowitz<\/i> q: <\/strong>i am working for a cpa firm, but would like to get into my own practice. can you give me some suggestions?<\/strong><\/p>\n more:<\/b><\/strong> 15 tips for novice managers<\/a> | why no one listens to you<\/a> | how to stop yourself<\/a> | how to handle referrals with attorneys<\/a> | why checklists?<\/a> | thirteen things to know before selling your practice<\/a> a:<\/strong> essentially, you have three options (four if you count my pet project, but i won\u2019t belabor it). any practice you buy should provide about half of your necessary current income.<\/p>\n the remainder of your needed income should be financed by your savings or loans.<\/p>\n you need to set up a plan to meet with people who can either become clients, or refer clients to you. from what i\u2019ve seen, most people will build their practice to a point where they are making a living no later than the end of the second year of being in business.<\/p>\n an alternative to personal door knocking is to advertise. however, that needs a skill few have. i have not seen too many cpa ads that have generated revenue, but i\u2019ve seen enough to know that the right advertising program works and produces new clients. most of the cpa firm ads are announcements of their being there, goodwill ads, yellow page or internet site ads, or branding ads. advertisements should be designed to get business leads. my experiences in advertising have included complete failures with some methods, and tremendous successes with others. some of my ads have not produced immediate success, but have yielded profits because of the longevity of the clients obtained through the advertising. also, be aware that advertising is not marketing \u2013 it is one part of an overall marketing program.<\/p>\n to support yourself, you can try to get some per diem work; however, this will take you away from the marketing that i feel is necessary to get your practice up to your break-even living level. the per diem will add time to any growth target.<\/p>\n consider the shortfall in your salary your investment in the practice. and keep my two-year target in sight, and work at it.<\/p>\n there is a difficulty in buying a practice if you have no experience running a business that buying the franchise (see next item) eliminates. a sizable side practice will provide the confidence the seller will need to trust you for the balance of the purchase price.<\/p>\n 2. buy a tax preparation franchise.<\/strong> there are many available and these can provide reasonable income and entree into business. this method is a single path to a segment of the cpa business, but it is a start and will allow plenty of time after tax season to market your other areas of expertise. many people think that having a storefront for a business location eliminates other methods of soliciting business such as knocking on doors or asking for referrals. it doesn\u2019t, it just is another and easier way to get tax return clients.<\/p>\n 3. start from scratch with clients you moonlighted with.<\/strong><\/p>\n and if you have no clients, then what makes you think you can get clients to develop your practice? work per diem a maximum three days a week \u2013 you\u2019ll need the other days to do work, network and get business.<\/p>\n use your moonlighted clients as a base to merge into an established practice.<\/p>\n 3<\/strong>\u00bd<\/strong>. buy a cpa practice franchise.<\/strong>\u00a0<\/strong><\/p>\n i think this can be very effective, if they exist.<\/p>\n my idea of a retail location that will perform full-service accounting work is the \u201caccounting store.\u201d<\/p>\n
\n101 questions and answers: managing an accounting practice, the complete 2-volume set<\/i><\/a><\/p>\n
\nexclusively for pro members. <\/span><\/strong>log in here<\/a> or 2022世界杯足球排名 today<\/a>.<\/span><\/p><\/blockquote>\n
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\n1. buy a practice.<\/strong>
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