By Caroline Roberts MembersWhat I wish I’d known when I started my practice15 Feb 2024 Learn from other members’ mistakes before you take the plunge.Is 2024 the year when you’ve resolved to launch your own business? The prospect of being your own boss is hugely exciting, but it can also be daunting and few strike out on their own without some nagging doubts keeping them awake at night.What sort of clients do you want to attract?What are the best marketing tools to help you reach your target audience?How can you define your USP and make sure you stand out from the competition?How will you balance your client-focused work with all the admin tasks involved in running your own business?How will you recruit the right people when the time comes to grow your team?We asked three accountancy business owners to share their top tips, and tell us about their early mistakes so you can avoid them.Get your policies and pricing strategy in placeRia-Jaine Lincoln MAAT, Director, The Beauty AccountantI wish I knew how important it was to price on value from the start. Most problems around pricing arise from feeling undervalued and potentially resentful about managing difficult client conversations and expectations.Have set policies and engagement letters in place and refer back to these when dealing with tricky clients. This will help you see where something may have gone wrong. Sometimes we won’t know what’s triggered a client but if you’ve followed your processes and provided a good customer journey, the chances are it’s not about you. Tax and money are difficult topics for many people so my biggest tip is not to take things personally.Talk about your business and sell each day. Social media is a free tool so business owners should all have a social media marketing strategy and way to analyse performance from the KPIs that are readily available. In the early days, before you start to see a trickle of referrals from word of mouth, also consider other paid marketing options such as ads, leaflet drops and sponsorship.Verdict: Robust policies can prevent problems further down the line.Your website needs to reflect you and your business valuesCraig Dyer MAAT AATQB, Managing Director, CA Dyer Accounts & Bookkeeping LtdI wish I’d invested in my website early on and made it more personal and less sterile. In my experience, a lot of clients who are looking for small, local accountants and bookkeepers want that personal touch so your website should paint a picture of who you are.On the About Us section of our site, individual staff members share a bit about themselves and their career journeys. We also have a series of blogs that emphasise our key values. For example, we’ve included some stuff about the volunteering and charity work we’re involved in. One client is a local café so we’re including a series of healthy and vegan recipes, which ties in with our focus on sustainability. Clients tell us they really like our website because it gives them a feel for who we are, and I know it works because every single client has stayed with us.Getting plenty of reviews is really important too and that’s something I wish I’d realised earlier. It sets you apart from the local competition and builds trust so make it a matter of course to ask clients for a review.Verdict: Personalising your website can help attract clients and build trust, as can getting plenty of reviews.Learn to say no and make time for yourselfBev Flanangan MAAT, Director, Bev Flanagan Financial LtdAs accountants, we love to help wherever we can, which meant that I often said yes when I really shouldn’t have done. I took on clients who I knew would be awkward and agreed to reduce my prices just to gain a client. I was undercharging so I couldn’t afford a team and therefore had to do all the accounts work myself. I soon realised that I couldn’t build and scale my practice like this as I was running round like a headless chicken.In the beginning, I neglected not only my family and friends but, more importantly, myself. Now, I put all my preservation goals in my diary. Preservation goals are things you’ll do no matter what – it could be weekly date nights, taking your kids to school and picking them up, or going to the gym.Be confident in your marketing; don’t compare yourself to other people or let imposter syndrome kick in. It doesn’t matter what everyone else is doing. We’re all different and have totally different circumstances. You’re starting out on an amazing journey with your own practice. There will be bumps on the road but the positives definitely outweigh the negatives.Verdict: Taking care of your own wellbeing pays dividends. Caroline Roberts Journalist.