semi retirement

semi retirement

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As the owner of a one partner practice I have a few staff but none are senior enough to cover for me in my absence. This has left me feeling I need to be there day and night, as on the rare occasion I'm not,someone will show up unannounced and have a fit. I appreciate this shouldn't happen but it does. As a result I'm planning on announcing I'm going part time and will be available via email but not always in the office any more and asking the more higher maintenance people to leave. Has anyone else done anything similar and if so, how has it gone?

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Teignmouth
By Paul Scholes
04th May 2015 18:19

Similar

I'd begun to have enough many years ago and gradually started reducing the practice, moving office to something much cheaper and then, finally 3 years ago, moving back home. At each step of the way I kept my staff up to date and gave them amble notice of redundancy to give them time to find something else.

I was fortunate to have an ex-employee sub-contractor who was able to gradually take over the less involved clients, thus making the transition smooth, but had I not had her there are several other firms I know who would have been able to take them on.

I have always pruned high maintenance, PITA clients so these didn't come into the equation.

I have to say that, unless there was an emergency, none of my clients would ever have turned up unannounced and I wonder if you are worrying unnecessarily about these, no reasonable client will expect you to be sitting there day & night waiting for them to turn up?  Plus these days you can run a firm from pretty much anywhere, without the need to be there all week.

You don't say what the financial consequences are but in my last 3-4 years I've gone from 140 to 30 clients but, because I've retained top quality clients, reduced the costs and found another income stream, I'm not going to be substantially worse off than I was 4 years ago.

If I'd needed to just take a back seat, whilst keeping a reasonable sized practice going, then I'd have trained up or attracted a practice manager.

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By petersaxton
04th May 2015 18:52

Dont worry

If somebody turns up unannounced and I'm not there and they have a fit they have only themselves to blame. I'm going to Xero conference tomorrow and Accountex next week. I don't expect any of my clients will have a fit.

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By hughjoyce
04th May 2015 19:40

Yes you are right. It's just a small minority who are like it so I'm just targeting them as I don't see a problem with the others. It's my own fault as I've let people get unrealistic expectations which are hard to break. I'm suggest another practice to them but they are free to go where they like. Been a good learning curve.

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By Tosie
04th May 2015 21:04

I did it

15 years ago I decided to semi retire, I gave up the office and staff moved on.I kept one part time staff member who is happy to work as and when.

As the years have gone by I have let clients go and not accepted new one unless relatives or similar of present clients.

I expected at that point to go on for another two or three years but I am still here.

You have the time and funds to enjoy life.

Hope that you make the right decision.

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