How to Start Your Own CPA Firm


If you’re thinking of starting your own CPA firm there are many details you need to consider. Just like starting any small business, there are some risks involved. If you’re starting from scratch it’s important to have a solid entry plan. Here are some tips to help you prepare for the startup process for your CPA business.

Start part-time.

Starting any business from scratch comes with challenges. This includes finding clientele. When you launch your own CPA firm it can be especially difficult to find clients. Before going full-time with your own firm, it can be greatly beneficial to find a few loyal clients to work and build relationships with in order to network and build a reputation in the industry.

Personalize your business.

Owning your own CPA firm requires you to stand out from competing firms. One great way to do this is to personalize your stationery and tax folders. A quality tax return folder gives a professional presentation that will leave a lasting impression on your clients. Custom tax folders, envelopes, and business cards will not only leave a great impression but they can also encourage repeat business.

You’ll need to find a printing company that specializes in custom tax return folders. Presentation folders and tax return folders with a foil stamp of your name and firm give an especially professional presentation. You can also choose a tax cover or presentation folder with a business card slot to give your client your direct contact information. Tax return envelopes with customized ink colors and designs will also stand out amongst your competitors and catch people’s attention.

For some clients, their tax returns are one of their biggest financial tasks, so they want a professional and experienced CPA firm they can trust. You can take a plain folder with a large packet of documents and add details like foil and color to add value. Often times, if you’re a CPA your folders or envelopes are the only visual presentations of your work. Taking your tax folders to the next level with customization is one of the best ways to enhance your firm’s professionalism.

Set goals for your team.

Building a team of employees and keeping them connected and motivated can be difficult, especially with the pandemic impacting morale. Many firms have their teams working exclusively from home. If your startup and hiring process is happening during the pandemic, goal setting for your entire company should be a top priority.

One way to align company goals and motivate your team to achieve key results is to use OKRs. Objectives and key results, or OKRs, is a software of template that can be used to create ambitious goals in a clear and concise way, and they connect your sales team and leadership team to enhance communication in order to meet company objectives and business goals. OKRs work by promoting commitment to the company’s goals within your team. The OKR process clearly displays business goals to give your team the best understanding and the chance to ask the right question about your company strategy.

Using an OKR for your ambitious goals allows you to implement key performance indicators and achieve measurable results. Not only can these OKR templates your leadership team with performance reviews at the end of the quarter, but a good OKR will also help you with high output management in order to see your results in a measurable way. The OKR framework and templates will also prepare you and your team for the next quarter by clearly stating metrics and goals that must be met, but also detailing a plan to achieve these key results.

By following these key tips, your business will be up and running in no time at all.

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