Member Since: 30th Oct 2007
Chartered Management Accountant Midas Accountancy
29th Oct 2013
SWAT Online Webinars
Excellent value for money at about £30 per month for unlimited access to their technical webinars. This might help with the in house technical improvement side of things.
Best of luck
28th Oct 2013
At last the power is back on!
The family member is still in a very poor financial position themselves. We have written off the debt effectively as we will never see the money back.
Also I have applied to the CIMA benevolent officer today and am waiting to see if we qualify for any support. I won't hold my breath!
It's really encouraging to hear from others who have left accountancy to try something new. I'm particularly interested in the possibility of freelance journalism! How did that work out for you?
"If you could grow the turnover of your practice to say £60k, with good profits and only goo clients, without working twice as hard, would you take that?". Very good question, my husband would answer yes, but my gut instinct is that I would not be any happier and would still feel under a great deal of pressure. In order to successfully sustain a business like this I would need a huge shift in my current mindset and make significant change to the way I work and handle my business. If you had put this to me 7 years a go I would have relished the challenge. But right now I feel washed up and burnt out, with barely the enthusiasm to get out of bed. I'm exhausted and I'm fed up with feeling like my working life is a constant battle.
I have spent some time on cognitive behaviour therapy. I can highly recommend the website mindgym to anyone who is reading this and can relate to my situation.
I completely understand what you are saying and you are correct. My attitude to my career before starting a family was the complete polar opposite to my current mindset. I was enthusiastic, hardworking, confident in my abilities and my value to my employer and as a result received three very good promotions is a few years and several significant pay rises.I was only 23, newly qualified and at the top of my game. I was also a bit cocky if I'm honest but I think that served me well at the time!
It is very empowering to be reminded that I have ultimate control over my career. Indeed this has always been the case, and without the drive and determination I had early in my career I don't think I would have had the courage to take such a brave (and foolhardy?) move from corporate accounting into practice with no support or experience. I have come a long way since then and it has taken a phenomenal amount of determination and dedication to get my practice to the relatively modest success it has.
I don't have the energy to keep up the battle anymore. I'm hoping that a change really is as good as a rest, and a new perspective and career would help me rediscover that pushy arrogant young woman I used to be, who worked damn hard to get what she wanted and felt truly proud of her own achievements. Rather than the sickly, exhausted fed up 32 year old woman, who does seem to have a victim complex and is incapable to mustering the energy to take control of her own life.
Many thanks as always for the responses and support!
27th Oct 2013
Sorry just came across this and it sums up how I feel perfectly!
27th Oct 2013
I appreciate you are probably very busy, at all hours, with family as well as work but I found taking on some voluntary work (in my case a charity trustee and school governor) gave a bit of variety and a change from some of the drudgery of work / home / work.
I am trying to encourage getting a bit of space away from work to help to approach the work in a fresh light.
You have been doing it for 13 years, so you must be doing something right!!.
This may also be too personal for an anonymous thread - but have you considered you may be a bit depressed? In which case you should see your doctor.
I have spent the past 5 years on one local committee or another as Treasurer. I've always tried my best but always struggled as I always seem to be so busy and have so little time available to provide the support that is needed. My stint on the local PTA ended particularly badly as the Chair at the time was a full time mum with no other commitments and much older children who gave a phenomenal amount of time and energy to the role and expected the rest of us to commit in the same way. She was fantastic for the committee but I just couldn't give the same commitment and she ended up bullying me off the committee. A particularly dark hour for me, but I went down swinging! I hate bullies!
I do suffer with severe depression and anxiety and have been heavily medicated for the past 2-3 years. It's a bit chicken and egg in that respect. It's plausible that the depression is caused by my dire financial situation, which prevents me from running my business well and in turn fuels the depression and my money problems. Or it could be I have chosen the wrong career path, which has led to the depression as I am unhappy in my career, which then fuels my money problems when I feel too low to get on with my work. When life is so hectic it's very difficult to be able to self-diagnose the root cause of the problems and know how to get on the right track. I'm very lucky that so many of the Aweb community have offered support and advice, as the process of bearing my soul has been really helpful.
Thank you again for all of the advice and support!
26th Oct 2013
Thank you for the slightly overwhelming responses!
Thank you so much to everyone who has taken the time to respond to my post, the response has been slightly overwhelming!
Selling my practice to someone who would employ me part time for an agreed time sounds ideal and I have just the person in mind. I'm not sure how the mechanics of it would work, but this could give me the space I need to put some energy into a career change. Thank you!
Thank god it's not just me that is in envy of the Tesco check out people. I did a lot of work waitressing and working in supermarkets when I was at university and I do long for the kind of job you could leave at the door at the end of the day. I fear however, my husband would divorce me if I took at minimum wage job and had to work 5 x the hours just to keep us in the relative poverty we are accustomed to!
The 'but' is the massive risk that I will find myself without an income with 2 small children and 2 huge mortgages (both on the same meagre house, long story). We have no savings and struggle to pay the bills as it is. Unless we were to sell the house (we are in negative equity...still) and declare ourselves bankrupt to settle all of the unsecured debts we would end up in a very grim position. It's a pretty miserable feeling, when you feel trapped in a job that you don't enjoy with no wriggle room at all.
I have many lovely clients who I like on a personal and professional level. I also have a handful who take advantage of my good nature as I am always keen to be as helpful and supportive as possible.
I'm in Hampshire so a bit far to provide mutual support. Thank you for your kind offer though and I hope you are fully recovered now!
Sorry to hear your wife has been so unwell, I hope she makes a very speedy recovery. Would be good to catch up for another coffee sometime. I just need to stop being ill long enough to catch up with my workload!
I would like to think I would be a good assistant, I'm not sure how much call there would be for this and what I could expect to earn?
The million pound question - why don't I enjoy my business? On paper it is ideal; a good income, lots of variety and the flexibility to take care of my young family. The fact I cannot give a solid reason why I'm unhappy in my business says a lot. I can't really put my finger on it. I seem to be bubbling with lots of ideas for businesses and charities that I would like to start and I become very enthusiastic putting together detailed financial projections and business plans. But I can't give any of the ideas I have the focus they need to even make a solid start so they are doomed to failure.
I have read every self help book I can lay my hands on; The 7 Habits of Highly Effective People, the e-myth, the accountant's version of the e-myth right, right through to Shut up and Move on (SUMO) to name but a few. I think the point has come where I need to accept I have tried for 7 long years to make this work, I've looked at myself and my habits, I've looked at my clients and trying to change the way we work with each other. I've jettisoned some truly awful clients and lost some that I really enjoyed working for. Through all this I have come to the conclusion that it is not the end of the world if at the age of 32, having dedicated the past 13 years of my life training and pursuing a career in accountancy, if I try something completely new.
Thank you once again to everyone. The Aweb community has been so supportive, I honestly don't know where I would be without you all!
4th Oct 2013
catlady wrote:Apparently CIMA members may not be able to sign mortgage references anyway : http://www.cimaglobal.com/Members/FAQs/Why-cant-I-sign-a-client-referenc...
This is not always the case. I have signed off plenty of mortgage references and have never had them questioned by mortgage companies. I think it very much depends on the lender.
1st Oct 2013
Thank you again Aweb for keeping me sane!
Thank you to everyone who has responded. I posted this afternoon from a very dark place and was feeling concerned for my own mental health (honestly, I'm being serious!).
A few hours off and a strong drink later I feel much better, more so because of the feedback and supportive messages. So thank you!
I read an interesting quote the other day:
“Courage doesn't always roar. Sometimes courage is the little voice at the end of the day that says I'll try again tomorrow.”
― Mary Anne Radmacher
So tomorrow begins project "Ground Zero" where I will be sacking all of the clients who have heckled and hassled me to the point of frustration on both our parts (possibly quite a few hence ground zero) and start to build up a practice that doesn't turn me into a jibbering wreck.
Ok rant is definitely over now! Tomorrow is another day (and I have gin left over in case tomorrow sucks too).
On a completely unrelated note, I wonder if I could sleep off a sneaky afternoon tipple before the school run? (JK - don't call social services)
24th Sep 2013
Thanks again! I feel like I've dodged a bullet!
23rd Sep 2013
Been there, got the T Shirt
I remember many years a go having a similar conversation with my boss when I worked in industry. He was very adamant that a payrise would be based on experience, years of service and not qualifications (he was attempting to explain to me why I was receiving a salary £10k lower than my male colleague who was doing exactly the same job, the same CIMA level as me but had been with the company 5 years longer and was 10 years my senior).
I explained to him that if I were to apply externally for a job I would receive a significant increase in my salary straight away, so what was my motivation for staying?
Speaking later to a middle manager in the company, he confided that he had forced the employer's hand by applying for and receiving an offer for a job with a much better salary. Explaining this to his line manager, he received a payrise and didn't need to leave his job after all.
I did exactly the same, received a job offer earning £9k more than my current salary. When I told my boss he pulled a few strings and I got a £6k payrise. I stayed because I liked the company and the people I was working with.
It's not how it should be and I did this before the economic downturn and before starting a family so I could afford to take a risk. Unfortunately I think it is still the case that most employers will not authorise a payrise unless they are being effectively held to ransom.
Best of luck!
18th Sep 2013
I took a look at the cimaaccountant website last night. The blogs are great! I will definitely be in touch.