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To grow or not to grow....

  • Associate
  • Practice Licence
  • 28 posts
  • # 116051

Hi all, merry Christmas 🎄 I have been self employed now for just over 4 years. During that time I have turned work away as I am at maximum capacity for what I can manage. (I work mon-fri, school hours as I have a young son). I am now at a point where I’m working tirelessly but don’t feel I am reeping the rewards. I wonder if I should scale down so I’m not working as hard, or whether I expand to grow my practice which would mean employing staff. Have any of you expanded and taken on staff,? Have you employed them or had them contract to you? Does anyone have any advice on what/how i can/should expand? I have a client who I can get Office space from but tbh im finding it all a little daunting so any help would be appreciated x Many thanks Karen Ps I should clarify that scaling down really isn’t an option for me because I’m very driven so would get bored quickly!!

  • Associate PM.Dip
  • Practice Licence
  • 40 posts
  • # 116054

KarenG2 said:

“Hi all, merry Christmas 🎄 I have been self employed now for just over 4 years. During that time I have turned work away as I am at maximum capacity for what I can manage. (I work mon-fri, school hours as I have a young son). I am now at a point where I’m working tirelessly but don’t feel I am reeping the rewards. I wonder if I should scale down so I’m not working as hard, or whether I expand to grow my practice which would mean employing staff. Have any of you expanded and taken on staff,? Have you employed them or had them contract to you? Does anyone have any advice on what/how i can/should expand? I have a client who I can get Office space from but tbh im finding it all a little daunting so any help would be appreciated x Many thanks Karen Ps I should clarify that scaling down really isn’t an option for me because I’m very driven so would get bored quickly!!”

 Hi Karen

Happy new year to you.  If you have too much work you don't have to go straight in to a full expansion with office premises and staff which can be rather daunting.  There may be other ICB practice licence holders in your branch area who have capacity who can subcontract to you. You may also be able to streamline your data entry processes with a system like Autoentry from Ocrex (which I prefer) or Receipt Bank. 

Do you attend your local branch meetings? It's  an ideal place to build working relationships as well as making friends and you can also benefit from the experiences of others who have been in the same position you are in.  

 

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