Write-Up Practice

[Taxman]

For those who have a monthly write-up business, what would you say would be the average time period to establish a monthly client base of around 30 clients? What has been the best marketing tool for establishing a client base?

[dsi]

Taxman, it took me 2 years to build up my practice to 30 monthly writeup clients. I have never really been able to get above that figure. I may lose one client, and then pick up a new one, but it has stayed in the 30 client range now for over 15 years.

[Taxman]

Thanks dsi for the post. I figured it would be a couple of years to build up a monthly write-up practice. Do you also have a big base of tax clients to go along with the write-up clients? Thanks again

[geekgirldany]

This will be my 9th year in business for myself this May. I have around 5 monthly bookkeeping and payroll customers. Two weekly customers. About 30 quarterly customers. Some just prefer to come every quarter instead of monthly. I would like to build up my monthly customers. So far my customers have come from referrals, yellow pages, and my yard signs. I really need to come up with some marketing myself but I am not a good sales person... so right now that is where I am at. Needing more monthly customers but not sure how to advertise to get them.

I had 160 tax return customers this year. That includes the business returns.

[DTS]

...So far my customers have come from referrals, yellow pages, and my yard signs. I really need to come up with some marketing myself but I am not a good sales person... so right now that is where I am at. Needing more monthly customers but not sure how to advertise to get them...

Dany,

I'm sort of like you, but don't have that many accts, but would like them. I am not the least bit comfortable as a salesperson selling myself. That whole process is painfullly ackward for me. I would prefer to swallow hot coals than that.

I did have some success with new homebuyers (more tax business than bookkeeping) and wanted to target businesses the same way, but found the cost prohibitive.

I saw an email from a bookkeeping/acct'g org that suggested telling new prospects what you can do for them and offer a quarter at a slight discount. I thought that might be a good way to go. One could make themself an invaluable part of their business, but wouldn't be locked into a lowered price.

D

[geekgirldany]

Good advice. I've read that calling or writing businesses now is a good time because of the "economic" bad times. They may be willing to change. I sometimes wonder if my pricing is to high. $50 an hour with a min. charge of two hours. I had three call me the last few weeks and they said it was too high.

Has anyone every receive something from that KC Trudy. Just wonder what he is all about. Also there is a Frank Salman. I believe someone mentioned him on here about learning to market your business.

[Lion]

Biz Clients You Have

Go after the biz tax returns you do as bookkeeping clients. It's easier to get someone who already knows you to give it a try. If only tax, then try for quarterly. If already quarterly, go for monthly. Tell them how it would benefit THEM. Maybe they've had late fees for payroll filings. Maybe they're a sole shareholder and need to spend their time on their core business instead of bookkeeping. (If they charge $100/hour to consult, then paying you $50/hour to free up their own time saves them $50/hour!). Maybe you'd be able to hold their tax prep fees constant for a year or two if you had their books in order. Or, you could set their monthly fee to include that big tax prep fee to make it easier for them to budget 12 smaller fees instead of one big fee each April. You get the idea. Instead of selling yourself, you're explaining how they would benefit, how you'd solve a concern of theirs. (PS I have an awful time myself; I'm not a marketer, I'm a tax preparer.)

[DTS]

Lion

So, how much money are we talking about for you to do that for me and how much time are you willing to devote to travel? There's no retirement package.

[GRich0656]

This was my first year doing taxes and I do not have any write-up customers, but I have been in the restaurant business for the past 25 years, sometimes with more than one restaurant. I have always used a CPA, and have "bought" a couple of CPAs with a business we bought. Have had 3 CPAs total.

From a business owner's perspective here is what I think would help your clients to the point that they give you word of mouth advertising.

1. When taking them on as a client, have a long talk with them about the way they organize and keep their records, and offer to help them set up a system that would help the both of you keep their books organized and be efficient.

2. Try to look at their source documents for records they have kept for a few months to see how their understanding of what expenses are deductible or nondeductible, etc. There is a lot of misinformation out there and many business owner who want to correctly report their expenses do not know the law. I only learned this past year when studying taxes for the first time, that business meals were only 50% deductible. Fortunately, in my line of work we don't have business meal expense, but these are the kinds of things that your clients need to know, before they do it wrong.

3. I would love to have had my CPA schedule an hour each year to meet with me and discuss my business, what it is doing, and ways to improve it. This has never happened. My businesses have been successful but I'm sure they could have been better.

4. For many of your business clients, it would help them a lot if you could charge for you services on a monthly basis that includes tax prep fees and even the yearly meeting if you are so inclined to do so. Sure, you need to establish limits on what it includes, but often, the tax prep bill comes about the time other yearly expenses are due, and it would take the sting out of it to make smaller payments.

There are more ideas, but these are a few that come up off the top of my head. Word of mouth travels fast and bad travels faster. Customer service excellence will build your business faster and cheaper than any advertising you can do. Good luck, hope this helps.

[newbie]

How do you do your write-up clients?

Right now I just to tax prep but had someone call for monthly service. I'm thinking I can process the write up by the check register and bank statements and setting up a program in excel or even enter all on Quickbooks? Register memo must be entered with proper expense/income category to make it work.

Would this be considered enough or do you guys actually look at all of the invoices/receipts?

What other options if anyone is willing to give advice?

[Lion]

Marketing

DTS: I think 1/2 of your gross receipts from new business would be good, 1/3 for retained business. I'll travel to CA as much as you want during the winter, but you'll have to provide the car and gas while I'm there. And, as far as a retirement package, you can just leave me your house in your will.

Newbie: Don't forget to ask your clients for referrals. In fact, ask everyone you know for referrals. You'd be surprised at how many people think you don't have time to take a new customer!

I hate to sell myself. Maybe we need to have the buddy system and each market our buddy's business. But, that's what word of mouth is all about. Get your clients and your broker and your lawyer and your banker and your ... to market you.

[PIGLEE]

I used to do write-up's, that is how I started, then my tax business started to build, so I hired someone to do write-up's, then she also started doing taxes. We then, about 10 years ago decided to forget the write-ups and do only taxes. We gradually got rid of the write-ups. We were getting closer to retirement anyway. Do you know what we discovered is that we made more money doing just taxes, (could do more without the write-up) and had the summer's mostly free, and no monthly deadlines to meet. I also gradually quit doing the Corp taxes, because I would not do them if I did not do the write up. This last year we both retired, me after 31 years, and her after 17. We have so much fun doing taxes that we are both now doing some out of our home. I love having only 1 computer to worry about, but I miss the two girls that answered the phone and did the assembly. I needed to be home with my husband, and I am still having fun doing taxes.

I just thought I would give you another thought about doing write-ups. For some people it is their first love, and that is the thing you need to concentrate on. For me my love changed from accounting to taxes. Like I have always told my kids, find what you like doing, and do it the best way you can.

[Lion]

Congratulations!

Congratulations on your retirement. Glad you're still doing taxes and especially glad you're still visiting this board.

[geekgirldany]

I want to thank you all for the great suggestions. I believe most of this falls on my shoulders. I am just not aggressive enough in advertising myself. I really need a little more self confidence in that area. I should be passing out biz cards to more people and talking more about what I can offer new and existing customers. Many are surprised to find out I do computer repairs and even bookkeeping. I had one customer I have known for 10 years bring up about his computer problems during a tax return pickup. I told him I could fix it and if I could not I would charge for only one hour of time. He said he did not know I could work on them and he brought it by last week. Its just letting people know what you do.

Last night I was doing research on marketing after this post came up. I purchased a few books on Amazon just to give me a boost. One was successful quickbooks consulting. I think it will be a good overall review. The other two are more about positive thinking.

Anyways, I've decided to write out the services I offer in more detail and include pricing on there so I will be a little more confident while talking to new customers.

Piglee congratulations on your retirement. When I left my last employer I was in the middle about going out on my own so I had an job interview with a local accountant. She told me that she did not do any of the write-ups anymore. Had two women doing it for her. She only did tax returns and she had the time off after that. It would be great to get to that position.

[dsi]

After a couple of cold beers, and putting flags out on veterans graves, I feel a little loose. Let me start out by saying be careful what you wish for. You will get your 30 plus write up clients. You can have anything you want in life. My first recommendation is to start by calling them clients as opposed to customers. Doctors call them patients, other professionals call them clients. Get yourself in the right mindset and go after them. Provide them with professional service, and by all means do invoice them for your services. Any client worth having will pay your fees if YOU are a professional. Love what you do, and make sure your work is at a professional level. Word will get around fast if you do this.