Rapid and profitable growth for a young accountancy business

Rapid and profitable growth for a young accountancy business

Our client, a newly established chartered accountancy business in Manchester, was keen to drive growth but felt that it lacked the necessary in-house expertise. As funds were limited, we agreed to work for a small retainer and a percentage of the first year’s profits.

Our challenge

The key task was to understand the client’s business objectives, capabilities, resources and expectations. These were clear from a financial viewpoint, but there was no real plan of action defining how they would be achieved.

What we did

We made clear to each of the four partners that they needed to take personal responsibility for actively promoting their company: copying the activities of their previous employers would be unlikely to create competitive advantage.

We organised a series of events – from individual networking opportunities to seminars and presentations – to expose the new business and its partners to their target business community.

In parallel, we devised and implemented a marketing campaign to market their services to small and medium sized organisations that wanted basic accountancy and payroll services without the expense of a full-time accountant.

Additionally, we identified related businesses in fields such as management consultancy, IT and legal services, and helped the firm to forge partnerships with them so that it could offer “one stop” services to clients.

We made extensive use of free publicity via press releases, linking in with community events and sponsorship agreements.

The outcome

After 18 months the client was both profitable and rapidly growing.

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