Hi Lucy - this unicorn does exist is several different guises I suspect. I reformatted my own practice a few years ago, including moving out of and renting out my (thankfully owned) office building and working from home (or anywhere else I fancy). I started my own practice in 1993 straight after becoming eligible for my practicing certificate but as I turned 50 I tired of employing people, frankly, and I realised I enjoyed working with most of my own clients but was getting into cross subsiding other costs, so I changed things (it took about 18 months). Thankfully I'd put the practice data on the cloud with Hosteddesktopuk (excellent choice) first, and everything else started to follow. Because I have less clients in number (I sold a chunk of the smaller clients to fund staff redundancy costs, I didn't see a penny but it was worth it and the staff found other employment straight away) and even my practice software costs are a fraction of what they were due to the fall in client numbers, if fact all my overhead costs are a fraction of what they were and I've more time to do more work or more leisure as I choose. I enjoy working from home and none of my clients care that I've no separate office, even the big ones, and my garden and my waistline is in much better shape. I'm receiving a rent from an office I don't need to occupy, and I can pick and choose the new clients I work on because my costs are so low. I probably am a "digital nomad" (I'm even typing this on my dining table) but what's not to like?
Believe it or not I rented out my office to a roofing company and we've been working from home since June 2018. There are 3 of us in the practice (all qualified and no other staff) and I've had all the practice data hosted on the cloud with Hosteddesktopuk for the last few years so we can all work from our respective homes and it's been great! A fraction of the overheads, many of my clients bookkeeping data is held on the Cloud too, and I get long walks from home by the beach where we live. The clients have no problem with this - what's not to like? Although I did coincide the move with kids leaving for Uni so I do have the benefit of no teenage kids in the house anymore which I know could be a distraction.
I couldn't agree more - I started my practice a month after being eligible for my practising certificate in 1993 and in my time I have sacked so many clients and a number of staff too and never regretted any of it (it really is the only way to keep control) and the payback is that for a number of years now I only have clients I get on fine with (and pay well) and staff that don't annoy me - I'm not really sure it gets any better than that?
My answers
Hi Lucy - this unicorn does exist is several different guises I suspect. I reformatted my own practice a few years ago, including moving out of and renting out my (thankfully owned) office building and working from home (or anywhere else I fancy). I started my own practice in 1993 straight after becoming eligible for my practicing certificate but as I turned 50 I tired of employing people, frankly, and I realised I enjoyed working with most of my own clients but was getting into cross subsiding other costs, so I changed things (it took about 18 months). Thankfully I'd put the practice data on the cloud with Hosteddesktopuk (excellent choice) first, and everything else started to follow. Because I have less clients in number (I sold a chunk of the smaller clients to fund staff redundancy costs, I didn't see a penny but it was worth it and the staff found other employment straight away) and even my practice software costs are a fraction of what they were due to the fall in client numbers, if fact all my overhead costs are a fraction of what they were and I've more time to do more work or more leisure as I choose. I enjoy working from home and none of my clients care that I've no separate office, even the big ones, and my garden and my waistline is in much better shape. I'm receiving a rent from an office I don't need to occupy, and I can pick and choose the new clients I work on because my costs are so low. I probably am a "digital nomad" (I'm even typing this on my dining table) but what's not to like?
Believe it or not I rented out my office to a roofing company and we've been working from home since June 2018. There are 3 of us in the practice (all qualified and no other staff) and I've had all the practice data hosted on the cloud with Hosteddesktopuk for the last few years so we can all work from our respective homes and it's been great! A fraction of the overheads, many of my clients bookkeeping data is held on the Cloud too, and I get long walks from home by the beach where we live. The clients have no problem with this - what's not to like? Although I did coincide the move with kids leaving for Uni so I do have the benefit of no teenage kids in the house anymore which I know could be a distraction.
I couldn't agree more - I started my practice a month after being eligible for my practising certificate in 1993 and in my time I have sacked so many clients and a number of staff too and never regretted any of it (it really is the only way to keep control) and the payback is that for a number of years now I only have clients I get on fine with (and pay well) and staff that don't annoy me - I'm not really sure it gets any better than that?