If you've been in the business for a few years, and you've established your position in tax preparation or financial advising, you may be getting the itch to start your own firm.
Owning your own accounting firm can be an incredibly rewarding experience with an impressive side of perks. However, before you make the jump into starting your own business, there are several key issues to be aware of. I've compiled six common pitfalls that accountants should avoid when starting their own firm. By avoiding these mistakes, your firm should be off to a great and promising start.
1. Failing to market yourself
Working for a large CPA firm does not guarantee a huge client base once you start your own firm. Many new business owner CPAs do not realize this. One way to put yourself out there is to be the lowest bidder on public bid work. When you get the job, perform above and beyond the client's expectations. If you do this, you give yourself opportunity