Following The Right Steps To Emerge As One Of The Top CA Firms
When you finally decide to go for practice after dealing with the dilemma of whether to pursue a job or start practice, the big question that may come in your mind is how to grow the practice. This is one of the commonest concerns gripping the mind of every Chartered Accountant. A CA firm must never resort to advertisements or any other means to get more clients. It is only the review of the existing and the previous clients that can help a firm to grow. If you are in the same practice and trying to get a word or two of advice to become one of the best CA firms in India, here is a guideline you can follow to get success.
Increase the partners of your firm
When you talk about the need of the hour, the LLP’ and the partners can provide boost to your firm. Due to the constant tussle between handling work in the firm and looking for opportunities outside, the more partners you have the better it is. While some of them can look after the functioning of work inside, the rest can look for work outside. This is one of the strategies small CA firms should follow to become the top CA firms in India. Periodical reviews reveal how the partner can contribute to the business expansion and the firms must get together to fulfill their business objectives. There may be certain hurdles to acquiring more partners, but firms must have good coordination among the employees to overcome these hurdles.
References from the seniors
A budding Chartered Accountant firm in India can consider references from the seniors. The new members who have just entered the firm can request the seniors to get work on the basis of sharing revenue. In most of the firms, the seniors keep the major part of the revenue even though the juniors execute the tasks. However, the junior members should not bother about the pecuniary aspects in the beginning, and should focus more on exposure and knowledge that comes through the work.
Networking is the key
For the Chartered Accountants, networking is one of the key aspects that allow them to get work. The CA firms in Delhi NCR must attend all the local events such as the seminars and the conventions for networking. The tea break during such events can be used to initiate the discussions with the other attendees and cards can be exchanged as well. Keep the channels open for interactions in future.
Meeting the prospective clients
To become one of the top CA companies in India, you must not waste time in meeting the prospective clients without setting an agenda. Money should be used judiciously by the CA firms that have just started practice so they must have vivid ideas to make the outcome profitable.
Getting the fees
For the top CA firms, it is natural to get delayed payments, which often leads to financial crunch during the initial months. However, the employees of the firms must follow up to recover those payments from the clients.
If you have plans to become one of the top-grade CA firms in Gurgaon, you must try to master the area of your practice. However, knowledge comes with time, exposure, and experience in this field. Try to read and study more to track the latest developments in this field and know how the firms make it to the top. Regardless of the schedule you follow, do not give up your habit of reading to acquire knowledge. You can also try to write more articles from what you have learned in your field of practice. Finally, you must always clarify your doubts from the senior members of the firm who are conversant with the practice and the procedures.
Seema Mehra is best Chartered Accountants in Gurgaon at Ashok Maheshwary & Associates, Mergers & Acquisitions Consulting firm in India that provide accounting services in a convenient manner. She is a professional writer and loves to share Financial related topics.