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NextGen Magazine

 
 

What You May Need to Give Up to Start Your Own Practice

By:
Jason Wong
Published Date:
May 3, 2016

caution tapeSome people would rather be their own boss, and CPAs are one of the lucky professions that have the option to do so. But before you make the big decision to strike out on your own, you should be aware of the sacrifices that you may have to make before your practice becomes successful enough to maintain your current quality of life. Here are a few things that Entrepreneur cautions you might have to give up for a significant amount of time:

Your social life. In the infancy of your own practice, it’s likely you won’t have time to socialize. An incredible amount of effort goes into starting a company, and in the beginning most if not all of that burden will be shouldered by you.

Your sleep schedule. Starting your own business is going to mean a lot of late nights and early mornings, and if you’re spending more than half of a 24-hour day working, those hours are going to have to come from somewhere.

Your free time. In addition to losing sleep, you’ll also find less time, if not no time left in the day to binge watch your favorite TV shows, go hiking, or any of your other hobbies. Try to find hobbies that you can enjoy while commuting or working, like listening to podcasts or reading.