..

Business News

  • Written by Tess Sanders Lazarus


Holiday season is the peak time for people handing in their resignations.   More people quit in December than they do any other time of year. 

 

Accounting and training expert and CEO of Platinum Professional Training, Coco Hou, today said “with so many people likely to quit their job this holiday season and jump into their own start up, there are some key things people should think about before they take the leap.”

 

“For some reason, Christmas is the time of year many people tend to re-evaluate their job, employer and career direction,” Ms Hou said today.

 

“I think it is because we get to the end of the year and reflect on what we have achieved throughout the year.   It is also a time when we think about our salary, the amount of hours we are investing in our job and the stress levels involved.

 

“A lot of people feel tired, stressed and a bit burnt out.   This is often the worst time to make a significant job or career decision.   Unfortunately many people change jobs or throw their job in when they are feeling like this, and wish in hindsight they hadn’t.  The concept of ‘job change regret’ is real and very common.

 

“My advice is to avoid making major career, life or business decisions when you are feeling exhausted.  Instead, take a break, restore your energy levels, catch up with friends and family and find time to engage in things that are invigorating and enjoyable.  Have a bit of fun.  When you are feeling refreshed, consider how you are situated in the below five areas:  

 

Can I improve my work enjoyment at my current employer.  Think about whether your current employer offers you the scope to improve your current job enjoyment.   Is there scope to move around in the organisation to work in a different area using your skill set and experience.  Is there room for promotion or wage growth.  Speak to your employer about your prospects.

 

Would I enjoy work more if I moved to another organisation.   Find out whether opportunities are available in different organisations that may offer a more enriching job experience for you.   Make some enquiries.   Speak to others to find out what type of opportunities are available elsewhere and the type of remuneration that is offered.   A change of employer may the best thing for you.

 

Should I undertake some training and development.   You may be feeling undervalued and overworked.  Focus on yourself and whether you may benefit personally from some investment in yourself.   Look online at different types of training courses, development or self improvement options that are available.   There are many options which provide professional development as well as personal development.  This may assist you to feel re-energised about your career and workplace.

 

Look at your financial situation and your savings.    If you decided to start up your own business, you will need a lot of money in the bank to draw on while you wait for your business to grow and start generating enough income to cover your start up expenses, ongoing costs, unexpected costs and other expenses.   I always say you’ll need at least one year’s supply of salary to cover everything and get you through, if you are lucky.  

 

Can you operate your business as a side gig until it starts to fire.   Running a business as a side gig is hard work and involves a significant amount of investment in both resources and time – but it is a good way to decide if you really like the experience of managing your own business.   If you are able to do this while working full time without affecting your day job, this is the ideal way to move forward.   You will need approval from your employer to operate a side gig.     

 

“If you have genuinely worked through all of my five areas of focus and still feel you want to throw in your job and start up your own business, then it sounds like you are ready and determined to make the big move.

 

“My next bit of advice is to ensure you have sought out a good accountant with experience in business start ups.   When starting up a business, structure matters for liability and taxation reasons.”

 

Coco Hou, is the Managing Director of Platinum Professional Training.   Platinum is one of Australia’s largest accounting training and internship providers with offices across all major Australian cities.  Coco Hou is also a CPA qualified accountant and Managing Director of Platinum Accounting.

 

www.ppt.edu.au

www.cocohou.com.au

6 Tips for Choosing the Perfect Business Process Management Software

Choosing the right business process automation software can be a daunting task for several reasons.  First, it presents a complex market offering various products that vary significantly in the type...

News Company - avatar News Company

10 Excellent Business Ideas for Young Entrepreneurs in 2019-2020

Top 10 Low-Budget Business Ideas for Students in 2019 Whoever said that you should wait for 10 or even more years after your graduation to launch your own business? 69% of US citizens start their ...

Elsa Avendano - avatar Elsa Avendano

The 1-Page Marketing Plan

SKIP BUSINESS SCHOOL. READ THIS NEW BOOK INSTEAD. Named as one of the “10 best marketing books for small business owners” by The Huffington Post.   MEDIA RELEASE: MELBOURNE, DECEMBER 13, 2018 —...

Claire Marshall - avatar Claire Marshall

How to Empower Your Employees in 2019

Employee empowerment is the focus of many employers in this present day. The reality is that although you may hire competent and qualified professionals, you still need to invest in building them up...

News Company - avatar News Company

The role of containerization in international business

Containerization is the most significant innovation affecting the development of logistics in the second half of the twentieth century. In the 1950s, before the development of containerization, load...

Essay Shark - avatar Essay Shark

How Employee Performance Evaluation Tool Affects a Business Growth

In today's growing business realm where rivalry continues to get rougher, the prominence is on how significant to get and preserve the right people to do the accurate job. Employee Performance Evalu...

News Company - avatar News Company

Politics

Central and North Queenslanders overwhelmingly back coal sector

More than 80 per cent of young people in Central and North Queensland believe the coal sector and the jobs it creates are critical to the state’s economy, particularly regional Queensland.   Mi...

Senator Canavan - avatar Senator Canavan

AWU National Secretary Daniel Walton on steel industry

Ambitious expansion plans make mockery of those who wrote off Australian steel industry GFG Alliance's planned rejuvenation of the Whyalla steelworks, and the Australian steel industry more generall...

Media Release - avatar Media Release

George Neophytou supports roads funding and more

Independent candidate for Gippsland East George Neophytou has pledged to support completion of duplication of the Princes Highway between Traralgon and Sale and to upgrading of the Sale alternative ...

George Neophytou Media Release - avatar George Neophytou Media Release

Travel

Road Trip On Your Mind? Keep These Aspects In Mind As Well

Take a Road Trip! The great road trip. Movies are made of this type of freedom. The roads are calling and you are feeling the need for a road trip. Join millions of other people who enjoy the great o...

News Company - avatar News Company

Best Short Term Accommodation in Brisbane

Brisbane, the capital city of Queensland in Australia is known for its museum and Science center. With a lot of creative spaces and gardens on the riverside, it is a magnificent and popular destinat...

News Company - avatar News Company

Best Short-term Accommodations in Sydney

If you are looking to spend a night or two in the sprawling city of Sydney, you might be in need of a lodging place or hotel to stay. We would like to give you here a list of the best short term acc...

News Company - avatar News Company