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I am an accountant working as professional consultant in Sydney, member of the Institute of Public Accountants (IPA) and looking at partnering with an established business that could sustain my pathway to licensing for Taxation Practitioners Board (TPB) as Tax Agent and potentially for other licences (e.g. SMSF Audits, RG146 – Financial Services, etc.), currently having to do the equivalent of 12 months in supervised practice for TPB, all TPB education requirements have been complied with. My background is in Liquidations, DOCAs, External Administrations, Bankruptcies, and consulting in the field of Business Solution Designing and Facilitation together with startup consulting. Moreover I am currently studying Migration Law and Practice with University of Griffith in order to gain professional qualification and recognition with Office of the Migration Agents Registration Authority (OMARA). I should complete my courses around July 2015.
I also solely run a community group for the Italian migrants, currently holding around 3,850 members who I would like to try and make become customers of the practice for personal income tax returns and potentially business consulting and migration services.

Any suggestions as to “where to look” and “where to start from”?

Soilder1122, post: 145871 wrote:
Hi All,

I am thinking of starting my own accounting practice (sole practitioner) as a part-time home business whilst working full time (Sydney East). I have already registered a business name with ASIC (not a Pty Ltd) and in the process of developing a marketing and website plan for the business.

My qualifications are CA, MBA, BCompSci, PMP, Tax Agent. I started my career in a small tax practice in the Sydney CBD, then to a larger 2nd tier audit firm and most recently at an international bank doing portfolio risk management (debt/growth products).

I am in my early 30’s. I am eager to start a business and hence I will need your help in the following:

  1. Marketing strategy – I am unsure to how get customers. What method do I use? I am unable to approach clients I already look after in my current bank job.
  2. Marketing: What method of marketing is most successful for accountants? I know referrals are the ultimate method, but this method won’t be much use to me at this stage. I also heard putting ads on local newspapers are not very effective as people usually like to stick to their old accountants.
  3. Website Design: What kind of website should I be looking to design? I’ve had a look at other competitors websites such as: legallybas.com.au, walshs.com.au, etc
  4. Website pictures, etc: Should I be putting my picture, qualifications, home address on the website – is this a good idea? If you were a customer would you like it?
  5. Softwares: I am also looking at purchasing an accounting GL & Tax software for this business. I have looked at MYOB And Elite Tax from Reckon. What do you think of these? At the moment, I do not have any customers.

    Logo: I have already designed my company logo myself using Microsoft Word. I have started a facebook page & started preparing marketing flyers using Microsoft Word templates.

  6. Revenue Forecast: To all the self-employed accountants out there. How many can I expect to make in the 1st year, 2nd year, 3rd year, 4th year……. And please share your secret to success and things I should be looking to do and things I should not be doing. Please help this poor accountant.
  7. Business Product Offerings: Tax Returns (all kinds), BAS/GST, Bookeeping, Preparation of financial statements, etc. Majority of income is to be derived from preparation of tax returns, statutory accounts, BAS/GST lodgements, etc.

Any guidance from anyone who has started an accounting practice in the past, obstacles faced, lessons learnt, etc. – all comments/advice are welcome.