Like so many of you, I am not satisfied with my job. My wife is finishing her teaching requirements next week and should start working next August. Our current monthly expenses are approximately $3,250. Once she starts working, I will maintain paying about $2,100 of those expenses. Working from home, I have a net margin of 65% That means I need to earn $38,770 in revenue to break even. Together we will make a gross income of less than $74,000 and $60,000 net of business expenses. I currently make $50,000 now, so we should be better off. With 4 kids, we will have very little tax liability, so her withholding should cover.
In 90 days I will start my own accounting practice. I have not given notice yet, but June 23rd will be my last day.
I have already done most of the leg work in starting my business. I have registered with the Georgia SOS, local county, have a bank account and tax preparation software. I have also purchased a website address for the business. YTD I have only earned a little over $1,100, albeit part time, so sales is my top priority. The next 90 days I will work on getting leads, contacts, social marketing and other tasks to hit the ground running in 90 days.
Please check back to see my progress.
The first few days have passed since my decision. Day 2 I got a new tax client through a referral. Day 3 my wife was offered a job next school term and I notified my boss that he will need to start looking for a replacement. Now I am committed, so no going back! I also continued to email people for tax services, even though tax season is almost over.
I did not do much this week, sent a few emails and postcards.
My timeline has changed! I had taken Tuesday off to handle some errands and I got a call at 8:15 am that my boss had been fired. I was shocked. I enjoyed working with him and am not looking forward to the extra workload on my part until they find a replacement. I made a bold move and gave my two weeks notice.
I completed my last return for the season this week. I also sent a few postcards and emails, plus sent my Resume out to a couple companies that may have a need for a part-time controller. Nothing really promising yet…
Worked my last day. Before leaving, I told my employer I would be willing to work PT if needed as an outsourced contractor. They told me they would think about it, which really means “no thanks.” I’m a little nervous, but excited at the same time. I will post about my sales efforts in another post.