I have a business dilemma.
I’ve been busy working on building my own business both through compliance based accountancy and taxation work and business consultancy for the past 18 months.
I’m currently earning more money than I ever have but it’s not sustainable and I’m now in a position where I have to take a step back to take three steps forward.
One of the longer term consultancy roles I have had will be coming to an end soon. This has kept me busy for 4-8 days a month and has been great financially to allow me to spend time on growing ’my’ business.
I now have around 50 other clients of various sizes and I am continuing to pick up 2-3 new clients each month without doing any active marketing.
At the same time I have been doing some subcontract work with a local firm of accountants. This firm is growing very quickly, gaining around 15-20 new clients every month.
The local firm of accountants have made me an offer to become a director in charge of the accountancy side of the business (the two other directors primarily deal with tax planning and business consultancy). Their ‘approach’ is different to mine and if I’m honest I’m only working there at the moment for the money. However there’s a good chance that I could persuade them to change their approach – new branding, better website, slicker marketing so that the business is something I would be happy promoting.
My 50+ clients would just about provide me with enough for me to be comfortable for a few months but would also give me the time I need to focus on growing my own business in the way that I want to. Plus, I would find this more enjoyable and would have a bit more time to spend with my young family.
Should I stick to my guns and grow my own business or am looking a gift horse in the mouth with the other firm and should I grasp their offer which financially could be better in the long term?