Tuesday, June 30, 2009

Starting an accounting firm?

I received an email yesterday from a youngish entrepreneur who wants to start his own accounting firm. He asked if I knew of any good books that could help him start out.

Sadly, my reading list rarely runs to titles about starting your own accountancy, but I decided to help if I could. Here's my response.

Hi xxxxxx. I haven't read any such books, but a search for "start accounting firm" on Amazon brought up a few titles. The best looks like Starting and Building Your Own Accounting Business by Jack Fox (Paperback - Dec 27, 1999)

Buy new: $50.00 $37.16
36 Used & new from $14.80

You can also Google the phrase, "start accounting firm." I found quite a few resources that look pretty useful.

And of course, talk to people who have done it. In my experience, most entrepreneurs are happy to talk to younger people just starting out in the field - even if there's a chance they will be competing against each other at some point. Most business owners were dependent on others for advice when they started out, which makes them feel strongly about helping others when they are in a position to do so.

Hope this helps. All the best



J. B. Loewen said...

Here's some more ideas - make sure you pick one clinet group and focus. So what size of company? Any other features of these clients - eg family businesses.
do get a good brand image and market with it otherwise you will look like a one man shop. Look a the firms out there you already respect and see if you can pick up ideas.

Thicken My Wallet said...

The best piece of practical advice is to sublet off an existing accountant firm and learn through observation. Nothing like real life experience over books.

Rick said...

Great ideas. Thanks!
And one more idea: get yourself a mentor.