I thought I would share my good news,,,,I have reduced my hours at work to have more time to focus on my own business at 1st Stop Accountancy Services Bristol Ltd,,,,,,I am very happy now to have more time to run my practice. All that have read my previous posts know this is something I have wanted to do for a long time now,,,and the opportunity has come about and I have taken it,,,without hesitation.
hope everything works out for you just the way that you want it to.
kind regards,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Have you worked before in practice or have you just learn as you go ?
Thank you for sharing this as I was on the edge of quitting everything as I work long hours on my current job and sometimes I feel that I do not have any time left for myself.
Best of luck !
Adrian
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This is just my personal opinion. Advice should be sought from a suitably qualified Accountant.
P.S. I only ride a motorbike because I want to dry my clothes faster
don't quit the day job until you have a client base sufficient to support you.
Lors been doing this a long time to get to this stage and even now she's only reducing her hours, not getting rid of the backup.
Think of it as being in an aeroplane. If your going to jump out don't you think that its best to have a parachute?
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Yes I've reduced my hours by one day, as I was feeling like it was too much and the opportunity came about, and as I'm not getting any younger I thought.,,,,,I need to give this a go,,,,and I would agree with Shamus you need a parachute,,,at least I've only taken a pay cut and will still have a monthly income, so it's not too much of a leap :). I'm going to look at advertising more now too!..... it's so exciting,,,only a very small part of me is scared!...
It was also hard for me coz my boss refused point blank not to reduce my hours,,,so when he recently asked (instead of me asking lmao),,,I was almost in no hesitation to say no.,,,,obviously didn't come across this keen in case he changed his mind,,, :)
-- Edited by lor on Sunday 30th of March 2014 04:34:43 PM
Have you worked before in practice or have you just learn as you go ? I work as a financial controller for the past 8 years,,,,running the accounts department for a plastics company,, not my true ambition as I want to work for myself
Thank you for sharing this as I was on the edge of quitting everything as I work long hours on my current job and sometimes I feel that I do not have any time left for myself. How many clients do you have and how long have you been running your practice?????
Best of luck ! - I will have to make it work now......:) or get another job lmao,,,,which I'd rather pull my teeth out tbh!!!!
Congrats Lor, well done on getting to this stage, things will start to feel real now.
Shamus wrote:
Adrian,
don't quit the day job until you have a client base sufficient to support you.
Sorry Shaun, I dont really agree with this. While I was working my business wasn't real. It didn't really matter whether I made it or not, I had nothing to lose. When I didn't have my safety net, thats when I started to become really hungry and make it work. Don't get me wrong, it wasn't easy and there were many times I thought I had done the wrong thing. Some days I became very close to tears. But when you take that safety net away, when you realise if you don't work you don't eat, thats when you stop playing.
Loads of variables which make the difficulty of leaving a job for self employment different for everyone.
Partner working? Amount of savings? Cost of all bills? Debt? etc.
I can see both points. If you can get a job/reduce hours to cover the bills then try and start a business it becomes easier than leaving and build clients from 0 but on the other hand it becomes easier to build clients when you are not working and can dedicate more time to it.
Like I said - it all depends on the items listed above.
Congrats Lor, well done on getting to this stage, things will start to feel real now.
Shamus wrote:
Adrian,
don't quit the day job until you have a client base sufficient to support you.
Sorry Shaun, I dont really agree with this. While I was working my business wasn't real. It didn't really matter whether I made it or not, I had nothing to lose. When I didn't have my safety net, thats when I started to become really hungry and make it work. Don't get me wrong, it wasn't easy and there were many times I thought I had done the wrong thing. Some days I became very close to tears. But when you take that safety net away, when you realise if you don't work you don't eat, thats when you stop playing.
Kris
Nail on the head there!!
I have recently done the same, dropped a day in my part time job to make more through BTB. If I don't earn enough then im not working enough! I HAD to tip the scales towards self employment or I'd forever be stuck in the cycle of either working too hard on two jobs and making no money, or giving up BTB altogether and going back to a job in retail which I DETESTED!
So the scales are now tipped and fingers crossed it works! :D
