I see posts here regularly about starting a practice and getting a first client and I know from experience how easy it can be to get discouraged so I thought I'd post up my own experience and let you make of it what you will. It will either put you off completely or encourage you to keep going (I hope!). Anyhow, for what it's worth, here it is.
Year One
15th August 2008 - How exciting! I've just formed my own limited company - Needham Accountancy Limited - and I feel great! I've spoken to my boss who is very supportive and has agreed that I will stay while I build up a clientele, even possibly allowing me to go part-time as Needham Accountancy Ltd gets bigger. I've been working as a bookkeeper / accountant in private industry for about 15 years and it's time to see if I can make it on my own.
10th October 2008 - Redundant! Credit crunch has hit us badly and this has led to my redundancy. However, nice boss has said that I can take my desk and chair and filing cabinet with me to help get my home office furnished. Also paid me a couple of months' wages even though I hadn't been there long enough to get actual redundancy.
13th October 2008 - Get four weeks temporary work through Hays Accountancy and decide to put it through the limited company. It's a start and at least I can raise my first invoice.
16th November 2008 - invoice my first "proper" client for a final VAT return.
December 2008 - hellish news. My best friend is diagnosed with cancer again. Prognosis not good. Going to be spending a lot of time caring for her and her children. However, also sourced my first big client (a local pub) due to very helpful neighbour who took my flyers and went out and distributed them to over 300 local businesses! Impressed by the "advertising" I subscribe to Yell.com.
March 2009 - Get another six weeks subcontracting work in London. However, my friend's illness is starting to take its toll. It becomes impossible to work full-time and be her carer so I take the decision to stop working for a while and care for her, while living off savings.
End-April 2009 - My friend has gone into a hospice. Her youngest boy (12) is staying with me and I can at least get some work done while he is at school.
31st May - 30th June 2009 - My friend has passed away (31st May). Organise the funeral and arrange for her youngest boy to move into my house. Convert office back into a bedroom. Workspace now very limited.
31st July 2009 - I end the year having had 8 clients, 3 of which were one-off jobs. Turnover is low but then again it's been a hellish year. Hey ho, things can only get better!
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