Home – New Forums Starting your journey Advertise for clients first or set up office first??

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  • #970014
    MMPB
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    Hi,

    I am going to start a bookkeeping & administrative services business but don’t know whether i can start advertising for a few clients right now before i go spending money on setting up an office and software etc (ie. MYOB membership). I currently have a laptop, printer & fax line but nothing special to run a business

    But then what if a potential client asks if i have MYOB to do their bookkeeping and if i say i don’t have access to any of that it’s not going to make me look very professional.

    Thing is funds are a quite low at the moment so that is the reason why i thought of seeing if i can get a couple of clients first hoping they would be the ones that already have the software themselves. Then once the money’s coming in i can properly set up the home office.

    I have 3 clients already but only small ones from ages ago, one uses Cashflow Manager (hate it, hate it!) and the other just has a spreadsheet that his accountant has asked me to complete each quarter.

    What are your thoughts on this? Sorry this post is a bit all over the place, hope it makes sense…

    #1042108
    Anonymous
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    Hi WiredPearl,

    Welcome to the forums. That’s an interesting dilemma you find yourself in.

    I’ll be interested to learn how our trusty financial types suggest you handle it.

    Good luck,
    Jayne

    #1042109
    Greg@BC
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    Hi WiredPearl,

    A classic chicken or the egg question!!

    I would start with listing all potential expenses required in the start up phase of the business and priorities each one in terms how essential it is in making the business succeed. but I would probably consider a MYOB Licences are pretty essential.

    Also, during the start up phase of your business you could potentially use the client premises and your home as a office until the workflow grows to a level that requires your own office.

    Greg Wilkinson
    Bates Cosgrave
    Chartered Accountants
    http://www.batescosgrave.com.au

    #1042110
    DavidThomas
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    I think this could be overcome by the gift of the gab and a little stratedgy.
    As someone else suggested, write a list and work our your priorities to actually function. Advertise your self and as soon as you get interest – refine your list of priorities against what you will actually need to service this client. If your lucky, you may not need anything (Eg spreadsheet work).

    If your unlucky and you need to fork out for MYOB licenses etc. this is where the Gift of the Gab comes in. Do whatever it takes to get the cash in to cover it.
    Some suggestions:
    – delaying clients until you have 3 or 4 on the go and have them all agree to pay you upfront (maybe 3 months in advance?).
    – be honest and explain that your a startup, and you need their payment to get setup and that your prepared to work for an extra 3 hours a month for 6 months if they will pay you upfront.

    Some clever balancing means you can do it all at once. Of course there is risk here if you cannot deliver, you will have angry customers. Maybe some family can spot you some cash. I dare say even a credit card for a few k?

    #1042111
    bridiej
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    Personally I’d start advertising first – it can take a while to start getting clients!

    Good luck

    #1042112
    Tracey Baird
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    Hi wired pearl,

    Have you thought about the option of just doing administrative work to build up funds to enable you to purchase MYOB? I know a number of VA’s (Virtual Assistants) who do purely administrative work for clients and have nice regular income coming in.

    Another option is if a client wants MYOB you could sign them up for a 3 or 6 month contract and know that it’s worthwhile you going out and getting the software. Hope these two techniques help you get started quickly.

    Best of luck,
    Tracey Baird
    Quick Business Tips

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