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COVID-19: Mindset Shift

2nd Apr 2020
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Hello folks. Please allow for a free-flowing blog post. I do not have an agenda, beyond the need to write a few words. Please allow me some leeway.

I am fairly certain, as a small practice owner, thoughts are going through your mind about the future. I am in the same place.

My self-centred concerns are about my practice/me. Like many of you, I started with a laptop, ambition and savings. I went through a seesaw of emotions in building a client base. Not forgetting, I had more than my fair share of abuse on good old Accounting Web. All this, I feel was worth it, to get me to a place where I was pre-COVID-19.

The practice was more or less running without my day to day involvement. I thought, finally, I have a business and I am not an employee tied to my practice. It was time to work less. I enjoyed this period for about 7 months or so.

Like the majority of us, I am not sure about the future.  As practice owners, we do not have exclusivity on this point.

I do not think, it will be the same again. It cannot be. COVID-19 is seriously making us think about our work and personal life.

I am forcing myself to think positive every day. I am also taking action on improving my health. This will now take priority over work. It will not be when I can fit it in. Practice stability and expansion will be when I can fit in (not at the cost of affecting client service). I have the luxury to do this, after years of hard work. My life priories have taken a significant shift. I am certain this is not temporary.

How has COVID-19 affected you?


Replies (2)

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By mumpin
09th Apr 2020 13:52

Hey FT. Good to hear your thoughts. I've not had a day off since this started. Lot of anxious clients out there. CIS subbys desperate for refunds.
I predict that when this 5hitstorm over there, will be a massive overhaul of the taxation system. Its way too complex and there's too long a lag between reporting period and tax collection. If there is reform then our job will change...
Look after yourself. You're our man cycling behind the Clapham omnibus.

Thanks (2)
By coops456
17th Apr 2020 11:30

Nobody will come out of this unscathed, whether personally, professionally or financially.

I hope we can retain the positives, from community engagement to better air quality to an appreciation of the (often lowest-paid) genuinely key workers in our society.

As a payroll bureau, our workload has tripled and our income has fallen off a cliff with the collapse of our largest client. But we work from home with low overheads and a garden to relax in, so I focus on counting our blessings to keep anxiety at bay.

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