Stuck in a rut? Want to be my own boss - sacrifice career???

[StinkyBoy]

Hi guys, I started a thread a while back about franchising..

Anyway, since that time has passed, I still have to send the application form off! Will do it this weekend...

Last week I found out I had become a qualified accountant. All official and stuff, got the letters after my names and all that bks now. It took me four years of hard slog to work/pass the bd exams.

Now on reflection, I have realised I still don't enjoy the job I do or the profession I am in. I don't know...

I have started to question myself however. How would it look to leave a solid profession with a chartered status and venture into the unknown? Is it worth the risk???

Anyone have any advice? I asked the advice of my father, who gave me his support....but he was worried about me leaving my steady but banal career..

Any advice?

[Doofus]

StinkyBoy said:

How would it look to leave a solid profession with a chartered status and venture into the unknown?

How would it look to whom? A future employer? If you think there's going to be a future employer, then you don't have the right mindset to start up on your own.

StinkyBoy said:

Is it worth the risk???

QED

Having the qualification will always make it easier to get back into the job market, and, with no intended disrespect, many accountants are risk-averse (it goes with the territory), but you do now have that fall-back position which should offer some reassurance.

[Eric Mc]

Conversely, many accountants were very clued up on business (naturally) and make good entrepeneurs.

If you have an entrepeneurial approach to things AND you have a good knowledge of accountancy, business management and tax matters, then you are in a very strong position.

Herb Kelleher (who founded Southwest Airlines) qualified as a tax lawyer and Michael O'Leary (who turned Ryan Air into the powerhouse it is today) started life as an accountant - although he never finihsed his training contract.

Edited by Eric Mc on Wednesday 28th July 14:02

[ShadownINja]

If you plan what you are going to do instead, then go for it. My only feeling is that you've clearly put a lot of time and effort into getting the qualifications. Seems a shame to give up the specific career so soon. Perhaps do it for a couple of years and start saving/spend less so you have money for your big plans?

[Doofus]

Eric Mc said:

Conversely, many accountants were very clued up on business (naturally) and make good entrepeneurs.

Oh I do agree. I was an accountant for a number of years, and I 'made the leap'. However, in that environment, I did come across a lot of the, shall I say, less adventurous kind...

[Eric Mc]

Doofus said:

Eric Mc said:

Conversely, many accountants were very clued up on business (naturally) and make good entrepeneurs.

Oh I do agree. I was an accountant for a number of years, and I 'made the leap'. However, in that environment, I did come across a lot of the, shall I say, less adventurous kind...

There are both in the profession - and business actually needs both.

[Doofus]

Eric Mc said:

There are both in the profession - and business actually needs both.

Again, I agree. But if StinkyBoy wants to take on a franchise, or set up somethign else, then being one type of accountant could be seen as a hindrance, or at least a disadvantage.

[Eric Mc]

To whom?

If he has entrepeneurial ambitions, whether he is a qualified accountant or not should not hold him back. In fact, as I said earlier, he is technically more knowledgable than many who strike out on their own.

Are you trying to imply that the fact that he went to the trouble of qualifying as an accountant he therefore is LESS likely to achieve entrepeneurial success?

Being an accountant doesn't MAKE you conservative - although many accountants genuionely are copnservative by nature. But that is down to the nature of the individual, not their qualification.

Edited by Eric Mc on Wednesday 28th July 16:03

[Doofus]

Eric Mc said:

To whom?

If he has entrepeneurial ambitions, whether he is a qualified accountant or not should not hold him back. In fact, as I said earlier, he is technically more knowledgable than many who strike out on their own.

Are you trying to imply that the fact that he went to the trouble of qualifying as an accountant he therefore is LESS likely to achieve entrepeneurial success?

Being an accountant doesn't MAKE you conservative - although many accountants genuionely are copnservative by nature. But that is down to the nature of the individual, not their qualification.

Calm down Eric! I started off saying that a number of accountants are risk averse. I then said that if the OP was one of those, it would be a disadvantage if setting up his own business.

I wasn't making any connection between qualification status and entrepreneurial abilities. I merely suggested that given the OP seemed to be worried about how 'it would look' to give up a career and set up something else, it could be concluded that he was concerned about how a potential future employer might view it. I then suggested that if he thought he was going to need a future employer, then he presumably wasn't confident about setting up on his own, and maybe that meant he was (at least at the moment) in the 'risk-averse' category.

I seem to have touched a nerve, for which I apologise. I wasn't casting aspertions at any one or any group of individuals. I was making inferrence from the OP's, um, OP, that's all.

Edited by Doofus on Wednesday 28th July 17:06

[Eric Mc]

It's dangerous to generalise - that's all.

Look at all those accountants who run their own practices for a start (like me ).

There are also lots of accountants in the role of CEO of many large organisations - not saying that's a good thing, mind.

And I'm perfectly calm - after all, I'm an imperturbable accountant after all.

[Doofus]

Eric Mc said:

It's dangerous to generalise - that's all.

I wasn't! My point was that when you started your practice I'll bet you didn't think "I hope my next employer doesn't think any less of me for giving up my previous job", did you?

As I said, I trained as an accountant too - albeit far from unpertubable - , so I know it can be done. In fact, I actually believe an accounting background can often result in a more rounded businessman than, say, a sales background, which is what many businesses think is needed for a decent CEO/MD (no generalisation intended).

Again, my comments were based solely upon my interpretation of the OPs comments.