5 Tips on Moving Your Home Business from Part to Full-Time
Are they brave? Adventurous? Just plain crazy? We’ve all heard of folks who quit their day jobs to work full-time from home. Maybe you’ve secretly admired their pluck, chutzpa, moxie. But let’s be honest: without a little planning and foresight, those courageous, passionate souls can find themselves in a financial whirlpool, without that second income to anchor them.If you’ve considered shifting your home-business status from part to full-time, there are ways to make the transition smooth and steady. We suggest you do the following 5 things:
1. Set a date.
Don’t quit your day job just yet. While the transition may require sacrifice, take the necessary time to ensure that you have work enough to sustain you when your business goes from being a part-time endeavor to a full-time one.
Consider how long it might take to grow your business to the point where you’d feel comfortable quitting your job. 3 months? 6 months? One year? And don’t work blindly towards that deadline. Determine “readiness indicators,” or symptoms, that your business is healthy enough to go full-time. Will you need at least 10 clients? 15? 20? Look at your current client base and calculate how much money each brings in. How many more would you need in order to compensate for your current full-time income? Don’t rush yourself. You’ll need time to prepare for this most important career shift.
2. Get the word out.
Face it. In order to grow your business to full-time status, you need more clients. And in order to get more clients you need to let people know you’re open for business. Inform your current clients know that you’re launching a full-time practice, and ask them to tell their friends and family and about your services. Freely distribute your business card, tell your own friends and family about your plans, and take advantage of every opportunity to tell people about your business.
3. Work overtime.
Okay, so this is the bad news. For awhile, you’re probably going to have to spend more of your “free time” working on your home business. Without that “overtime” you will be unable to grow your business and realize its potential. Prepare your family for the change, but also let them know about your timeline so they don’t feel doomed to a life with you in the basement bedroom, plugging away.
But at the same time you also need to set boundaries so you don’t overdo it. How many hours more do you feel comfortable working every week? 10? 15? Will you work those hours on week nights, over the weekend or both? Setting a schedule will help you better manage those extra hours and keep your family informed so they know when they can expect to spend time with you.
4. Invest in yourself.
In most professions, employers invest in their employees by sending them to conferences, paying for continuing education, or encouraging special training. Invest in yourself by finding those resources that will help you advance in your field.
5. Offer more services.
The more services you offer, the more valuable you become to current clients and potentials clients. Consider adding QuickBooks consulting services to your menu. As a QuickBooks Specialist, you can offer QuickBooks help, consulting and set-up services to current and prospective clients. It’s a great marketing took that will help your new full-time business bring in a significant income.
To earn this QuickBooks designation you must complete the Professional Bookkeeper’s Guide to QuickBooks (PBG) and pass the final exam with a score of 90% or higher. And just like that you receive professional certification!Additional BenefitsIn addition to the skills you acquire in completing the PBG, you will also receive the following:
- Thorough and complete training on the latest and greatest version of QuickBooks Pro
- 6 months’ worth of access to our experienced, qualified QuickBooks professional accountants and CPAs to answer your questions
- Accounting 101 Review
- 30 hours of Continuing Professional Education (CPE) credits in most states
- A 100% money-back guarantee
- A valuable addition to your reference library
The PBG offers the most competitive QuickBooks training on the market. Master QuickBooks and add QuickBooks consulting services to your menu. Enroll in the Professional Bookkeeper’s Guide to QuickBooks today!
