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Career Crossroads

A forum for general discussion on Career, Business & Hobby subjects and topics
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OscarBravo
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Career Crossroads

Post by OscarBravo »

Looking for some careers advice, so a brief history first.

Worked as a management accountant, progressing to a Financial Director role for the past 25+ years. Company was sold a couple of years back and I continued in a similar but reduced role which suited me at first. Now feeling very bored and undervalued, wanting to strike out on my own. Would like to start up my own business, anything but accountancy related! I have startup funds for almost anything within reason, although not enough to retire!

Having been an employee for so long I am finding it very hard to make that entrepreneurial leap into the unknown. 2020 has been a tough year for almost all businesses but I'm sure there must be opportunities out there.

Any inspiration from the FISO community would be greatly appreciated :)

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Richt
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Re: Career Crossroads

Post by Richt »

Have you every considered a role in recruitment?

Best job I have ever had.

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murf
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Re: Career Crossroads

Post by murf »

How much cash have you got? How much drive have you got to carry on?

I retired early (late 40s) as I really hated having to work (stress etc) and was luckily/sensible enough to have the funds to live confortably with a tight budget from then on. You can raid your pension pots at 55.....

Each to their own but personally I'd rather live free than continue in the rat race just to build up an inheritance pot for others that will probably vanish one day on nursing home fees anyway.

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OscarBravo
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Re: Career Crossroads

Post by OscarBravo »

Richt wrote: 27 Aug 2020, 13:42 Have you every considered a role in recruitment?

Best job I have ever had.
Can’t say I have, do you mean as a business or working for a recruitment company?

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OscarBravo
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Re: Career Crossroads

Post by OscarBravo »

murf wrote: 27 Aug 2020, 14:19 How much cash have you got? How much drive have you got to carry on?

I retired early (late 40s) as I really hated having to work (stress etc) and was luckily/sensible enough to have the funds to live confortably with a tight budget from then on. You can raid your pension pots at 55.....

Each to their own but personally I'd rather live free than continue in the rat race just to build up an inheritance pot for others that will probably vanish one day on nursing home fees anyway.
I’m still motivated enough to throw everything into my own venture, just devoid of the bright idea to kick something off.

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unc.si.
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Re: Career Crossroads

Post by unc.si. »

I'm sure you know how tough it is to run your own business. You need to be doing something that you're very good at and and have a passion for, otherwise you're not going to be putting in the 80 hour weeks to make a go of it.

seems like you're probably very good at Accy, but don't have the passion for it. also seems like you don't have any other specific passions that you could try to turn into a business.

maybe you do though. What do you love doing, and can you find a way to use that passion to find a niche, or an angle thats not there in the market? can you then work out whether the gap in the market is for something that people will want, and will pay for, and is the market big enough to make a living from, or is there a gap in the market because in reality there is no viable market need. As an FD you probably know all that, but I'm just saying that we'd need to know what you can do. To be successful you have to be selling a solution. Whether thats a product or consultancy or a service if you go about it thinking that whatever you're selling is a solution to someone's problem, and with the understanding that its a real problem that people want solving, you'll have a much better chance of success.

you say you feel undervalued. is that because of the general way that finance directors feel that some more S+M oriented CEO's feel that accountants hold them back (in which case go and work for a better company), or that you're now a divisional FD with no real voice on the Board, or that you are really just a glorified FC with no strategic input into the business. If so then maybe try to move into FP&A work, or maybe M&A or diligence work

Otherwise, good sectors at the moment would include Companion Animals, online training, sustainability on food production / supply chains (provenance etc) and I guess anything to do with making people working from home happier and healthier. But you have to have an angle / something to offer.

try to work out what people moan about (in real life, on forums, in the news) and see if you can find something that takes the problem away.

Or just take your savings, gamble on the horses and watch porn all day. money might not last long but you'll enjoy yourself while it does :-)

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blahblah
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Re: Career Crossroads

Post by blahblah »

S&M, now there is a career path 😂😂😂

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unc.si.
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Re: Career Crossroads

Post by unc.si. »

Kinky boots

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unc.si.
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Re: Career Crossroads

Post by unc.si. »

actually anything thats gender fluid / gender neutral / LGBT+ friendly is probably a pretty good idea at the moment, as is anything in Mental Health

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unc.si.
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Re: Career Crossroads

Post by unc.si. »

I did some work for a rubber company about 20 years ago that had a small but pretty lucrative sideline in producing rubber for the fetish wear industry

just saying...

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blahblah
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Re: Career Crossroads

Post by blahblah »

unc.si. wrote: 28 Aug 2020, 17:36 I did some work for a rubber company about 20 years ago that had a small but pretty lucrative sideline in producing rubber for the fetish wear industry

just saying...
Now your making sense.

Kinky Boots is a shite film....

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raoul
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Re: Career Crossroads

Post by raoul »

I train people to pass accountancy exams. It is a job that has freelancer potential meaning you could do as little or much as you like. Thanks to covid, potentially from home on Zoom.

Related jobs also exist and if you like being own boss and working alone there is exam marking, or even examiner.

Could create a nice little portfolio and vary it as you wish.

I qualified 25 years ago and stopped doing accountancy itself within year. Been tutor ever since and it rocks.

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blahblah
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Re: Career Crossroads

Post by blahblah »

raoul wrote: 28 Aug 2020, 17:52 I train people to pass accountancy exams. It is a job that has freelancer potential meaning you could do as little or much as you like. Thanks to covid, potentially from home on Zoom.

Related jobs also exist and if you like being own boss and working alone there is exam marking, or even examiner.

Could create a nice little portfolio and vary it as you wish.

I qualified 25 years ago and stopped doing accountancy itself within year. Been tutor ever since and it rocks.
What does that have to do with BDSM? 😉

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Mav3rick
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Re: Career Crossroads

Post by Mav3rick »

Start an onlyfans channel. Honestly the sums I read about on Reddit, it makes you wonder why we bother working in normal jobs at all. Find a niche there, with or without rubber, and you're in business :lol:

I'm a freelance software developer, it's not really the same as running your own business (although I do run a limited company) but you never feel trapped or locked in place. Are you able to work fixed term, temporary contracts in your sector? Moving around more keeps things varied I find.

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Smurphy Paw
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Re: Career Crossroads

Post by Smurphy Paw »

Oscar Bravo skills like yours (& a few others on here) are highly valued as non-Exec directors.
I spend most of my time working with charities and also take a director role for a local community anchor. What they’re looking for is strategic insight and business experience.

OB, in your case it’d be a way to try a sector or two to see how much you do or don’t enjoy them.
Meanwhile the charity gains the benefit of good quality governance - and if you’re looking for something to give you inspiration supporting something that looks at the triple bottom line might help too.

Happy to nudge (any of) you in the direction of things close to you if of interest

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Tony Towners Tache
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Re: Career Crossroads

Post by Tony Towners Tache »

OscarBravo I may be a little late to the party here but if you are still at that crossroads.

Personally, I took far too long to set up my consultancy, but the last four years have been pretty much perfect in terms of work/life balance and job satisfaction. Whilst not particularly spending more time with the family I am spending better time with them i.e. being there whenever I should not only when work allows. The only advice I valued prior to making the jump was not to start a company in debt. If you are working to pay off start up loans you are already on the back foot. It sounds like you have the funds set aside so the worst that can happen is you have to find a “proper” job. It is pretty much an open goal.

Raul’s advice is interesting teaching seems a good way to progress. You may no longer enjoy the accounting grind but must have a vast amount of experience that could be passed on without the pressure of deadlines and needy clients. In my line of work graduate structural engineers have to pass an exam to become chartered and a growing number of semi-retired consultants offer coaching/teaching advice specifically catered to passing the part 3 examination. Probably all on zoom these days. I imagine there is a similar thing in accounting. Perhaps something to explore unless you are dead set on leaving the wonderful world of numbers.

Or you could explore the S&M thing

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