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1000 quid club revisited

(142 Posts)
DolomitesDonkey Mon 15-Oct-12 06:59:14

How is everyone getting on? Since our last thread I am moving in to a totally new area, once which I'd wanted to do (many a time), but didn't feel that I "could" - for a variety of daft reasons (e.g., self-esteem!).

I've really been struggling the last few weeks finding the time to work on this new project - my paid job has been pretty full on - e.g., 11 hour days - then with 2 tiny ones on top of that - and the change of season isn't helping.

I long for the days when the children will need to be prised from their beds rather than shouting in my face from 5am.

Has anyone got any tips for this? I'm really a morning person but my toddler is destroying my will to live, never mind my will to work. I'm open to all sorts of tips from behavioural/reward strategies through to "best doping devices". wink

I tried working late the other night but my brain turns to mush by 8pm.

I had been planning to attend the great British business show in London next month but as my new business isn't ready to launch I just feel the timing isn't quite right. I know we talk about procrastination but it's not simply that... it'd be a 300 euro day out which seems a lot for what I feel it could return to me right now. Anyway, if anyone's interested the tickets are free and there are more details here:-

armadillosocial Thu 10-Oct-13 12:53:26

you are the second person to mention that! I've written it but I've forgotten to add it to the menu bar so it's disappeared. I'm going to put with contacts etc.

Will do it this afternoon!

GinotPrigio Thu 10-Oct-13 12:51:07

Thanks Suzie. I will PM if you don't mind.

Armadillo - your website looks good. But my first thought when I look at a site is to always go to the "about" page to find out more about the person offering the service and their experience, etc. Are you reluctant to have one?

armadillosocial Thu 10-Oct-13 12:03:22

After being inspired by this thread the first time (the £1000 a month one), I've finally set up on my own as a social media consultant.

It's scary as there are a lot of them about but I'm hoping that is a sign that it's a buoyant business.

I've been given a great business coach as part of a local scheme and she is really helping me to get the business side of things in order.

Here is my website, all comments gratefully receive wink

Suzietwo Thu 10-Oct-13 09:28:05

I've spoken to a lot of people wondering which way to go. My view is that without PII you have lost your identity and to some extent credibility and you start competing with people with far fewer qualifications than you. which means you start competing on price which is always a bad idea.

you will also find it very hard to recover from not working as a solicitor i.e. get back into any solicitor type role.

so if you can find a way of consulting, it does the job extremely well.

the types of firms which provide consultancy services vary in exactly the same way as other firms do. some only accept ex city lawyers and some expect you to have a following. if you dont think you're going to qualify for either of those things then you need to speak to someone like cavendish legal or setfords who are more relaxed about the people who join them. they will provide everything except clients for a cut of your fees. (30% is average) you will have to ay for your own practing certificate (400ish)

the alternative is that you hook up with your old firm or any other that will have you. this can work extremely well but be warned, the firms which are not set up to provide consultants with services dont do it very well! post is slow, they may want to retain control over clients, they can be slow to pay even tho it is them holding up bills.

i do a mixture of work for a large consultancy provider and for smaller firms who dont do what i do and occasionally get decent clients they want to keep in house. so they bring me in just to deal with that client.

if you want any more specific help, im happy for you to private message me and we can email!

GinotPrigio Thu 10-Oct-13 08:48:40

Sorry Suzie, tried several times to reply yesterday but it looks like that beaker thread crashed Mumsnet! Sounds like you have got a good arrangement going. Does it fit in nicely with kids, etc?

I've been doing a lot of research trying to see if this will be viable for me. I think the upshot of not having PII is that I can charge less as you say. I envisage targeting small local businesses at first for commercial work - T&C's, s/holder agreements, debt collection advice, etc. Competitive pricing is going to be important here. Then for regulated work like litigation I could negotiate a fee sharing agreement with my old firm and come in under their PII, but obviously charging the client a higher fee.

I still need to consider whether I need some kind of indemnity cover just for the commercial work though. Hmmm, so much to think about. And the Ethics Helpline have been as useless as ever!!

Suzietwo Wed 09-Oct-13 15:20:53

a bit of both. i wouldnt have done it unless i thought id be able to survive without having anything referred to me by the firm.


GinotPrigio Wed 09-Oct-13 14:58:24

That's fantastic. Do you get all our wrk trough consultancy firms or do you source your own clients too? What area if you don't mind answering?

Suzietwo Wed 09-Oct-13 14:12:25

yes im a solicitor. i work as a consultant from home. works extremely well.

GinotPrigio Wed 09-Oct-13 14:07:24

Hi Suzie, yes getting in on a share of the PII from my former firm might be an option. I think I will do more research first on the non-practising advisor route as see what my options are.

Are you a solicitor / ex-solicitor too?

Suzietwo Wed 09-Oct-13 13:00:21

sorry, ex solicitors

Suzietwo Wed 09-Oct-13 13:00:06

i can only speak for the one i work at and theyhave recently cut back on hires to consolidate the lawyers they have.

i know some solicitors who do the sort of thing youre talking about but without PII (not half as expensive as people assume) you're looking at charging half what you can with it.

have you friends in small firms you could hook up with to get a share of their PII in exchange for a % of profits?

GinotPrigio Wed 09-Oct-13 12:47:55

Thanks for those suggestions. I know some friends who have applied to those consultancy firms have received no work at all through them. Am thinking they must be inundated with applicants looking for more flexible work.

Ideally I would like to work on my own and be responsible for getting my own business. I've had a thought about offering legal services to local businesses. As well as litigation, I did a lot of commercial / advisory work for sole traders and small business - so info on start ups, contract drafting, reviewing T&C's, employment issues, debt collection, etc.

Working on my own and at home I think my rates would be extremely competitive compared to local law firms. I would need to think hard and do a lot of research about the kind of service I could offer as I couldn't hold myself out as practising as a solicitor without professional indemnity insurance (which is way too costly for me to even consider).

Is this a service that you some of you sole traders and small business owners might consider using?

Moderatelyobvious Tue 08-Oct-13 21:40:06

Ginot there's an ad on the Jobs Board for that type of law firm also.

Suzietwo Tue 08-Oct-13 20:56:53

Hi ginot

There are heaps of firms who offer consultancies. Try keystone, spring law, setfords, cavendish legal etc

You can also try pimping yourself out to other firms you know. Works extremely well!

GinotPrigio Tue 08-Oct-13 20:08:27

I've spent today reading through this and the original "£1000 a month" thread and it's really motivated me to get by bum in gear. I am a qualified solicitor and worked in commercial litigation in London but quit last year to move to the country. I've had a fantastic year off with my daughter but am itching to get back into some kind of paid work (not to mention that our savings have now run dry and the bill are starting to pile up).

I am loathe to go back into private practice with unattainable billing targets, long office hours and a vicious fight for a partnership which I don't even want. In-house work is an option but to make things more complicated I am pregnant with no. 2! Ideally I need to find freelance or consultancy work of some sort, where I can choose my hours to start with and increase later next year. But I have no idea where to start looking and my confidence has taken a massive blow in the last few years between maternity leave and now this year off.

Any other solicitors out there who have diversified into other areas?

fancyanother Thu 03-Oct-13 20:48:14

Hi I'm so glad this has been bumped because I was just looking for ideas for boosting my own little business. For background, I am a teacher. I was made redundant in 2009 when I was pregnant and when my DS was born, decided to use my combined maternity pay and redundancy to live on while I set up my own tutoring business. In the first year, I did really well (by my standards!) Nowhere near £1000 a day, but enough for me to feel great! I had 3 regular students, who made me over £120 per week, then I had students short term on a regular basis to help with coursework etc. I was really pleased, loved being self employed more than I thought I would, even loved doing my tax return!
Then after I had been doing this for a while, I got offered a job. I had fallen out of love with teaching, but obviously absence made the heart grow fonder, and the lure of a regular income was too much so I took it saying I would only do a few hours to keep us ticking over while growing the business. Well, it hasn't worked out that way, and I'm swallowed back up into the mire, Ofsted, endless meetings, endless paperwork. I love teaching, but am crap at the paperwork/ record keeping side of it and I'm getting ever more resentful of letting my business slide. Anyway, I'm taking too long to get to the point. I want to start up my business again with renewed vigour. I need some ideas to get more business. I have seen a job as a freelance trainer I was thinking of applying for. I need to have some other ideas. My subjects are Law and Business, which is good because I get a lot of adult work degree work as well as work based learning.

DolomitesDonkey Thu 03-Oct-13 12:04:40

Yes, please pop me a PM because I'm afraid I can't remember who you are. blush

LargeLatte Thu 03-Oct-13 12:01:34

Hi Dolomites - I think I may have been in the group at some point, but it was early on and most of the activity was still on the MN thread, so I didn't participate much. Is it OK to join now.

I'm on a different path now and work as a freelance web copywriter. I love it but need to make a plan for increasing my rates - I'm aiming to be top quality at top rates. £1,000 in a day may be ambitious but you never know.

DolomitesDonkey Thu 03-Oct-13 08:35:18

Just a quick bump. We at the 1000 quid club are looking for new members for our free "mastermind club". It works best for those in start-up mode or who have fewer than 12 months experience going it alone. We provide each other with support, encouragement and a sounding board whilst you bring it all together.

If you're interested in joining, please PM me - we'll need to connect on FB and then I can pop you in the group.

(PS yes, 1000/day is in sight!)

escape Sat 21-Sep-13 22:58:42

What is it you do? How's it going?

ModeratelyObvious Fri 20-Sep-13 23:19:28

Yes, just started working for myself.

escape Fri 20-Sep-13 21:48:40

ModeratelyO - are you working for yourself or thinking about it?

ModeratelyObvious Thu 19-Sep-13 19:58:25

Thought I'd bring this back to life...

sanam2010 Mon 25-Feb-13 18:04:53

Thought you might like this story about a millionaire mumpreneur on huffington post:
Mompreneur Nina Restieri Organizes Her Overwhelming Schedule Into A Million-Dollar Business

hereincornwall Fri 22-Feb-13 09:26:49

hoopsadazy thanks for those ideas. I'm still mulling over the Cornwall/concierge/holiday idea. In the meantime, I have come up with another idea which seems to be getting good feedback. I'm getting a little bit (over)excited about it and currently working on a website etc to just get myself out there and get started. I'm also looking at an admin/organisation sideline. This thread is awesome - you're an awesome (this is currently my 4yos favourite word!) motivational bunch. I'm doing a little (free) course in the evenings which is really helping me get my head together.

I'm still aiming for 1000 quid a month initially, but the 1000 a day objective is certainly in my longer-term business plan.

The most positive things I have taken from these threads recently (and by the way, I never look at any other sub-forums - only the freelances/SE one!):

- Just get out there and give it a go, don't wait and wait until it's all perfect. You can't get clients unless you get out and advertise - doesn't matter if your site/name/content/business cards etc aren't perfect yet!

- You CAN do it. Have the confidence to go out there and sell what you're good at. Nobody can do everything/be everything all the time, so offer what you're good at to people who aren't good at it!

- Following on from the above, I am using that as a 'practise what you preach' motto. I am obviously going into an 'outsource your small jobs' type area so I have to be able to sell to people the fact that I'm BRILLIANT at xyz and they are not brilliant at it, so should pay me to do it.

Happy motivational Friday ladies!

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