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Taking the plunge and leaving my full time job .

nicd1981nicd1981 Well-KnownLiverpoolAAT Licensed Accountant Posts: 244
Hi Everybody,

I'm getting to that stage where I would really love to leave my employment and go completely self employed.

I currently have around 11 clients.

(Builder)A Limited company- Annual accounts and return - Monthly subscription.

(OFF LICENCE)A Limited company- Monthly bookkeeping and annual accounts and return - Monthly subscription.

(QS) Limited company-Bookkeeping only pays quarterly but hoping he will change to Monthly subscription.

(café) Sole trader- self assessment at year end

(SM) Limited company - Annual accounts and return- bookkeeping , vat and payroll- Monthly subscription

Several self assessments at year end.

Definitely not enough to give up my permanent job, as I am paid quite well (Finance business partner)

I've written to local accountants to see about taking on over flow work but I have always stated it would be self employed.

I have a couple of meetings set up but both have said they really need someone on site .

As a single parent I known i'd be a fool to give up my perm job for the odd day on site, can I ask what everyone else did when they decided to take the plunge and give up permanent full time work, or do you just wait until you could cover costs and live on bread and water in the mean time :)

I'm building up the courage to approach my boss and ask for my hours to be reduced to part time, I know he wont accept that though.

I would appreciate everyone else's thoughts.

thanks

Nicola
Nicola Donnelly ,MAAT, MIP, CIMA Dip MA

Email: [email protected]
Facbook Page: MEND Accounting
Blog: http://wannabeanaccountant.blogspot.co.uk
Twitter: @mendaccounting
Website: http://www.mendaccounting.co.uk

Comments

  • NeillawNeillaw New Member RossendaleMAAT, AAT Licensed Accountant Posts: 266
    I'm currently having the same issue, I have full time employment with doing additional work at night. This is now taking up more and more time but don't have enough to pack in my job.
    I'm considering a part time position or I would choose to go contract/temp work while I build up my client base and network.
    What I seem to get of other threads is the advertising, I'm thinking of doing this while still in my perm job so I'll have everything to gain but nothing to lose really.
  • nicd1981nicd1981 Well-Known LiverpoolAAT Licensed Accountant Posts: 244
    Hi Neil ,
    Yes advertising and networking , I struggled with the networking and do some free advertising etc
    Think I will pay for an ad in local rag.
    Are you giving yourself a deadline of when you need to leave your job ? Or are you taking it as it comes ?
    Nicola Donnelly ,MAAT, MIP, CIMA Dip MA

    Email: [email protected]
    Facbook Page: MEND Accounting
    Blog: http://wannabeanaccountant.blogspot.co.uk
    Twitter: @mendaccounting
    Website: http://www.mendaccounting.co.uk
  • NeillawNeillaw New Member RossendaleMAAT, AAT Licensed Accountant Posts: 266
    Really it's a bit of both -
    I decided at the start of the year that it was going to be a make it happen year so I've really set myself up to convert this year. The only problem is most new clients are start ups which means it's going to be some time before work comes through.
    I've also got a client who's got a massive gob on him and best advertising is word of mouth.
    Do you not have any local free papers and local online directories which may be some use.
  • nicd1981nicd1981 Well-Known LiverpoolAAT Licensed Accountant Posts: 244
    Yes , I am using the free directories , but not yet advertising in the news paper. Will definitely look into this. I have taken on a lot of new clients , but majority are also new start ups.
    It would be good to be part time right now I think, as In last few days i have taken on 4 new clients and will be manic for next few weeks.
    Think I need to give myself a deadline also

    Thanks Neil


    Nicola Donnelly ,MAAT, MIP, CIMA Dip MA

    Email: [email protected]
    Facbook Page: MEND Accounting
    Blog: http://wannabeanaccountant.blogspot.co.uk
    Twitter: @mendaccounting
    Website: http://www.mendaccounting.co.uk
  • NeillawNeillaw New Member RossendaleMAAT, AAT Licensed Accountant Posts: 266
    Good luck
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