I want to pick people's brains again if you don't mind! I was wondering if anyone had started out doing their business part time while working either part time or full time? I am considering setting up to do my business part time and work part time, does that sound like it might work? I fully intend to be as available as possible to clients and do not plan to portray myself as not serious about the job or amateur as I wish this to become a full time business. Are there any issues anyone thinks I should be aware of? Any personal experiences you can pass on to inspire me?
I currently work full time and run my bookkeeping business. I have to say it's quite full on but I really enjoy having the business and although it's a serious business I find it a bit more like a hobby.
It could be a good idea to still work till you have a good client list, then maybe gradually cross over to your business full time at that point.
This is an option a lot of people go for and it can work very well. Especially as your part time job can help financies as your clients build up.
You might come across a client who only wants you on a Friday, which is a day you do your other job, but other than that it would be just like you have another client and so are busy some parts of the week.
One point I would make is make sure you put the effort into your business. Quite a few people who go down this route don't spend the time advertising etc because they are too busy with their other job.
This means your business wont grow. I would recommend setting aside some time, for example, 5pm - 7pm on Tuesdays and Thursdays, to concentrate on your business to make sure it gets the attention it needs to succeed.
I did that at the start. I was working full time for HSBC whilst getting my qualifications done, then I went part time once I had a couple of clients, then a few more regular clients down the road took the plunge and quit the day job. It all went very smoothly really, although in those days there were far less people offering bookkeeping services than there are now so I guess timescales now might take longer than when I did it.
As James says, make a fixed plan of when you are going to do your bookkeeping business and stick to it, even if there's no actual work to do spend that time creating templates or advertising or networking online, promoting your website etc. There's always something to do!
Hope it works out well for you.
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Jenny
Responses are my opinion based on the information provided. All information should be thoroughly checked before being relied on.
Thank you for your words of encouragement makes me feel I'm not totally wasting my time! I think I'll spend some time making myself a plan of what hope to achieve and in what timescale, the more I think about what I've chosen to do the more things that needs doing seem to crop up! I hope to mange some sort of set up this year (I want to get it right not rush into it and find I've done x,y&z wrong) and want for my own piece of mind to have a refresher on the basics first - I have over a decade of accounts experience but much of it is from the year end accounts for tax purposes and have always worked the company way.
One more thing, when people were starting out did they inform their employer they had a part time business as well as being employed? Is this necessary?
Thanks
GinnyBee
-- Edited by GinnyBee on Monday 10th of January 2011 01:13:17 PM
-- Edited by GinnyBee on Monday 10th of January 2011 01:14:03 PM
If you can handle a full-time job and also buidling up the bookkeeping business then that's the best way forward I feel. It can take quite a while to build up a decent client portfolio so you wouldn't want to give up the full-time job until you have enough clients and are generating enough revenue from them. Good luck!
