Every accountant dreams of running his own accounting office. Dreams are dreams and reality is reality – still few accountants decide to open their own business. Indeed, the competition in the market is fierce, which effectively scares off potential entrepreneurs. How to run an accounting office to make it profitable? We answer.
How to open an accounting office?
At the beginning, let’s consider what we need to open an accounting office at all? It is an activity that focuses on keeping company accounting, as well as tax and other financial matters. Can an accounting office be opened only by an accountant? No. Until recently, there were special regulations for accounting offices. Today there is no trace of them. An accounting office can be opened by anyone who wants to. Nevertheless, accounting and tax knowledge will be a huge asset. It will help in running an accounting office. Obviously, the most difficult task for accounting offices is to attract clients. Accounting offices offer more and more: tax advice, tax and financial consultancy, so it is also worth considering your offer carefully. Meanwhile, at the beginning, we should have at least a few customers who will want to use our services. Unfortunately, customer acquisition is a difficult and time-consuming process. It is in the initial period that we face the most expenses, so it’s good to have some income at the beginning. Accounting office owners should also have a good business plan and a business development concept. It may refer to extending the offer or ways of acquiring new customers.
Accountant – manager
How to run an accounting office wellA good owner of an accounting office is, above all, a good manager. He can, of course, keep clients’ accounts – full accountingor simplified. Remember, however, that he cannot assume the role of an employee. The exception is when the owner is both the only person employed in the office. However, if we hire employees, we must assume the role of a manager, and only then of a person who deals with accounting. This does not mean, however, that the owner of an accounting office does not have to be up to date with changes in the balance sheet and tax law. This is why a good owner of an accounting office is also an accountant. Employees often come to him for advice or a complaint if they cannot cope with the requirements of a particular client. In a situation where the owner does not have accounting knowledge, he should hire an accountant with many years of experience. He can take up the position of chief accountant and adviser at the same time.The owner of an accounting office should also pay attention to employees, their needs and complaints. Employees are a pillar of every company. You cannot expect them only to be loyal to your office and customers. Sometimes the client is wrong, and the dispute between him and the employee may end with the termination of the contract by one of the parties. Sometimes it’s better to lose one customer than a good employee.
Appropriate selection of clients
In accounting offices, there is a rule that the more clients, the better. After all, companies close or suspend their activities, so it’s good to have more customers, just in case. However, the right choice of clients is important. Let’s not rely on one key client and a few smaller ones. Diversity is what counts in business. If a key client resigns from our services, it may seriously jeopardize the functioning of the accounting office. Of course, customer selection is a difficult task, so we need to spend a lot of time on this issue. We also need to match the offer to our customers. Because if we target smaller companies, it is necessary to expand the offer for such entrepreneurs. If, on the other hand, we would like to acquire larger companies to handle, we must also implement additional services,for example, comprehensive care of companies’ finances.
Good advertising is the key to success
Acquiring clients for an accounting office requires appropriate advertising. Without it, we will not be successful in this or any other industry. Advertising should be based primarily on the appropriate offer. We have to recognize the needs of the local market and match the offer to them. Local companies are most often the clients of an accounting office. The situation is different when we open an online accounting office. Then we should also focus mainly on internet advertising. It is on the Internet that we will look for clients, and they will also look for offices via the Internet.
Currently, there are many accounting offices in Poland. Nevertheless, it is effective management that keeps some of them afloat. Where there is no management, an accounting office is most often declared bankrupt. It is a difficult business, but it can be very profitable if we do it well. However, each office owner must focus on good management.