Leaving a firm to work on your own?

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    Topic
  • #180734
    Surf CPA
    Member

    Has anyone left a firm to go work on their own preparing taxes, financial statements and consulting? Can you tell me about your experience? Was it a good or bad decision and what would you do differently?

    Aud - 83
    Far - 84
    Bec - 83
    Reg - 79

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  • #454067
    nbad311
    Member

    My husband, CPA (3 years public firm audit experience + 2 years software sales director/banking compliance personell) just started working with a single-man business who just took on a huge chunk of extra work (they are in property management accounting) hence needing a manager-type person; the existing guy (owner) is a new father of a 2 month old baby so basically, it's been my significant other manning 90% of the work since July. They are technically co-owners now so it's kinda like he started his own business…. i guess!

    He's had to do everything from IT to hiring/training employees to mailing invoices to preparing financial reports. I think it helps that he is well-rounded, a.k.a. knows how to install all their electronic needs from scratch (including setting up plans to have Comcast come out and literally install cables/whatever to their office building), is personable, has the needed accounting experience and senior-staff level skills needed to interact and train with the lower-level staff, etc. He likes it, loves staying busy and working at different skill levels. But, it's a TON of work: He says for every 1 email he answers, 3 more come in. He is back to being glued to his smartphone during non-business hours just like he was in public accounting. Working til 6-7 instead of 5. I think he'd probably say while it's a lot of work, it's worth if it that is what you really want to do! Good luck!

    REG - 65, 70, 80!
    BEC - 35, 62, 79!
    AUD - 73, 75!
    FAR - 65, 73, 70, 75! DONE.

    #454195
    nbad311
    Member

    My husband, CPA (3 years public firm audit experience + 2 years software sales director/banking compliance personell) just started working with a single-man business who just took on a huge chunk of extra work (they are in property management accounting) hence needing a manager-type person; the existing guy (owner) is a new father of a 2 month old baby so basically, it's been my significant other manning 90% of the work since July. They are technically co-owners now so it's kinda like he started his own business…. i guess!

    He's had to do everything from IT to hiring/training employees to mailing invoices to preparing financial reports. I think it helps that he is well-rounded, a.k.a. knows how to install all their electronic needs from scratch (including setting up plans to have Comcast come out and literally install cables/whatever to their office building), is personable, has the needed accounting experience and senior-staff level skills needed to interact and train with the lower-level staff, etc. He likes it, loves staying busy and working at different skill levels. But, it's a TON of work: He says for every 1 email he answers, 3 more come in. He is back to being glued to his smartphone during non-business hours just like he was in public accounting. Working til 6-7 instead of 5. I think he'd probably say while it's a lot of work, it's worth if it that is what you really want to do! Good luck!

    REG - 65, 70, 80!
    BEC - 35, 62, 79!
    AUD - 73, 75!
    FAR - 65, 73, 70, 75! DONE.

Viewing 2 replies - 1 through 2 (of 2 total)
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