Articles
The most obvious way to increase your fee income is by targeting existing clients in the right way. Nicola Draper offers some words of advice. In my last article, I explained why practices that market themselves properly are the most profitable and command a higher price when the time comes to sell up. I also outlined good PR practices that …
I had a call this week from a sole practitioner in the North of England asking me what the ideal size would be for selling a tranche of fees. Selling a tranche of fees is quite a common request that we get at Draper Hinks. I asked him to explain why he was asking me that question. It turns out …
Is size everything when it comes to accountancy practices? Nicola Draper finds one man who thinks not. Is size everything when it comes to accountancy practices? Nicola Draper finds one man who thinks not. While everyone is talking about the importance of growth, is it always the right thing for your business? Downsizing tends to refer to people selling large …
A good press release can generate positive PR for your firm It’s essential to make sure your release is well written and properly targeted Read on for the dos and don’ts of writing a good press release Nicola Draper unveils the secrets of crafting an effective press release that will get press coverage for your firm. Have a story as …
Practices that market themselves properly are more profitable This makes them easier to sell Generating press coverage is a good way to market your firm Read on for some top tips on how to do this Being proactive with simple marketing and PR can get new clients, keep existing ones happier and pay dividends, writes Nicola Draper. It’s amazing how …
Without accurate financial data, you can’t sell your practice Vendors need to know how many clients the practice has and what their value is They should also be aware of how their fees can be broken down into GRF and one off fees Having motivated staff can also increase your practice’s value Before you buy or sell a practice or …
Accountants often have a wide spread of clients across various business areas However, it can help for firms to specialise in niche areas Clients value accountants who understand their business area in detail It can also help to link up with firms that offer complimentary services Need more clients? Nicola Draper explains why it can pay for accountants to specialise …
The old adage that ‘people buy people first’ is true You’re far more likely to get new business from referrals than any other source Attending networking groups is a good way to generate referrals Learning how to network effectively is key to success Forget the Yellow Pages, the best way to find new clients is via referrals; but finding more …
Sole practitioners must be able to work on the business, not just in it A good business plan will help identify areas of weakness Many sole practitioners choose to work from home, but this isn’t necessarily the easy option Sole practitioners need to think of their brand profile and market the practice accordingly Nicola Draper outlines the key considerations accountants …
Just 30% of firms have a valid partnership agreement in place Not having one leaves the firm vulnerable when partners retire, fall ill or die Without one, firms are governed by the Partnership Act 1890 Read on for details of how this can affect your firm Practices operating without a valid partnership agreement in place are a disaster waiting to …