Should I leave my job to set up in practice?

My apologies in advance for the lengthy writing, I need to outline my current thoughts.

 

I am considering leaving my current job to set up a practice working from home. In the medium term this is where I want to be, I want to be my own boss and I am extremely happy with the decision. In the short term I am unsure as to whether now is the best time.

 

I am currently in secure paid employment for a decent salary, halfway through a one year contract which I expect to be renewed. I am on a three month notice period. The problem is that I don't particularly enjoy my job and believe that my time would be far better spent working on my practice.

 

I have mainly worked as a management accountant and there is a lot I need to learn in order to become a good accountant in practice. I am currently working through this by reading this and other forums, internet research, working on friends/families accounts etc. However, I have to do this in my free time and I believe I could do a much better job if I was spending all my time on this. I also expect marketing to take up a significant amount of time in my first two years.

 

I don't want to deceive my employer by combining both jobs but I have the typical accountant's risk-averse outlook on taking a big step into the unknown and wonder whether I should build up my client base first before handing in my notice.

 

I would appreciate any advice, particularly from people who have set up recently themselves.

Comments
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cymraeg_draig |
cymraeg_draig's picture

There is unlikely to ever be a perfect time

taxhound |
taxhound's picture

Follow C_D's advice and get part-time work when you have a few c

chatman |

Completely off topic

Steve Holloway |
Steve Holloway's picture

It depends on your personal finances

bduncan |

Back off topic

Monsoon |
Monsoon's picture

Still off topic

bduncan |

Setting up

Jason Dormer |
Jason Dormer's picture

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DazedByTheLight |
DazedByTheLight's picture

I think it is harder now than when I did it ...

Steve Holloway |
Steve Holloway's picture

Options

MarionMorrison |
MarionMorrison's picture

All or nothing ?

naomi2000 |
naomi2000's picture

All or nothing ?

naomi2000 |
naomi2000's picture

Happiness....

Sir Digby Chicken Caesar |
Sir Digby Chicken Caesar's picture

Happiness -

cymraeg_draig |
cymraeg_draig's picture

I enjoy being in practice

chatman |

Echo that ....

Steve Holloway |
Steve Holloway's picture

Maybe that's where I'm going wrong

Sir Digby Chicken Caesar |
Sir Digby Chicken Caesar's picture

You are not wrong ....

Steve Holloway |
Steve Holloway's picture

Evenings and weekends to start

Ken Howard |

Alas

Sir Digby Chicken Caesar |
Sir Digby Chicken Caesar's picture

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DazedByTheLight |
DazedByTheLight's picture

Sir Digby

chatman |

Good point

Sir Digby Chicken Caesar |
Sir Digby Chicken Caesar's picture

Going More Paperless

chatman |