Managing your finances is this a good idea?

[armyash]

Hello everyone.

As I am signing off from the army in approximately 2 weeks (finally), I can now start thinking properly about about a career in plumbing and actually do something about it.

I have a wrote a few letters out along with CV's and I also had business cards printed out. The business cards are advertising myself as looking for experience and say I am prepared to work for free, they will be going out with the letters and cv's. I am not looking to jump in at the deep end and start cowboying jobs in. I would rather work as an apprentice for the next few years and learn the job as best I can.

I have decided to put a stop to sending out letters for now as the chances of getting someone to take me on over weekends is not very likely. I don't want to let people down by having to cancel the odd weekend due to army commitments as I will be burning bridges that I can't afford to.

So....the point of this post lol

I have decided that as I don't think it's a good idea to write to company's just yet I may as well do something else to prepare for the future. One day I could be my own boss or if not it may come in useful for the company that I am working for.

Do any of you guys do your own accounts and manage all the complicated financial stuff? I have been looking in to doing a book keeping/accounts course and was wondering if you guys in the know think it would be worth while.

I was thinking it would look good seeing as i'm lacking in plumbing experience and don't have a great deal to offer in that respect if someone was prepared to take me on I could in return help them out with the books side of thing so that they were getting something out of me also while my skills get up to speed.

A good idea or a waste of time? How many of you feel you could have benefitted from a book keeping course etc yourselves?

Thanks

 

[dontknowitall]

There are free (or nominal cost) business courses for new businesses and you might be able to get yourself on to one of these (via Business Link). When I did one of these (around 15 years ago) parts of the course included book-keeping, management accounts (ie interpreting the figures), marketing, etc.

I think the courses are one afternoon a week for around 2-3 months.

You could also try your local library as they will have books such as Book-Keeping for Dummies. If you're not frightened of maths, book-keeping is really quite simple (presumably why the salaries for book-keepers aren't that great.)

 

[armyash]

There are free (or nominal cost) business courses for new businesses and you might be able to get yourself on to one of these (via Business Link). When I did one of these (around 15 years ago) parts of the course included book-keeping, management accounts (ie interpreting the figures), marketing, etc.

I think the courses are one afternoon a week for around 2-3 months.

You could also try your local library as they will have books such as Book-Keeping for Dummies. If you're not frightened of maths, book-keeping is really quite simple (presumably why the salaries for book-keepers aren't that great.)

Good to know before I start forking out on courses, thanks.

 

[Puddle]

Basically the rule of thumb is

if you are in business for 6 months and still have any finances to Manage..you are doing Ok

Keep a tight rain on everything when you are starting out,pull those belt notches right in keep a close eye on out standing amounts in both directions ,if you find your self flush,probably because you have been paid for a job and not settled materials for works yet,not because you are a £80,000 a year plumber!!

I started my business with nothing and luckily still have most of that left



imho

 

[armourer]

Ash, Have you not got any resettlement time?
Leaving it until 2 weeks before your out is leaving it too late imho.
I worked for 2 years before I come out to get into the business.

On the point of training as a book keeper I dont think that would sway anyone one way or the other into giving you a job.
Maybe look at an associated manual trade eg plastering, tileing etc. At least then you could be used to make good on an install for instance?

Good luck anyway mate

 

[Mrs Tara Plumbi]

Book keeping is not too difficult:
recording what you pay out under different heading: materials, advertising, etc.

Then when you register for VAT or to pay other people HM Revenue & Customs invite you on free courses and there is lots of free online advice - from good sources like HMRC & gov.
When you open a business bank account they might also offer free help - take anything that is free but don't sign up to anything a BAnk wants to sell you!

 

[armyash]

Ash, Have you not got any resettlement time?
Leaving it until 2 weeks before your out is leaving it too late imho.
I worked for 2 years before I come out to get into the business.

On the point of training as a book keeper I dont think that would sway anyone one way or the other into giving you a job.
Maybe look at an associated manual trade eg plastering, tileing etc. At least then you could be used to make good on an install for instance?

Good luck anyway mate

Thanks for the 'good luck'

You must have misread my original post mate (or it's just not very clear lol) I will be signing off in 2 weeks so i still have another 12 months to serve. I will be trying to gain experience once i have signed off as i will have a leg to stand on as regards to the army being a bit more flexible with me.

I will get 2 weeks resettlement leave which i will spend getting additional quals that have been recommended by other forum members. Good idea of trying to get in with an associated trade thanks.

 

[armyash]

Book keeping is not too difficult:
recording what you pay out under different heading: materials, advertising, etc.

Then when you register for VAT or to pay other people HM Revenue & Customs invite you on free courses and there is lots of free online advice - from good sources like HMRC & gov.
When you open a business bank account they might also offer free help - take anything that is free but don't sign up to anything a BAnk wants to sell you!

Good advice thanks.