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Paula Gregorowicz, owner of The Paula G. Company, helps you discover and successfully create the work you are meant to do in the world. Through the p...
 
 
 
 

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10 Things to Do Before You Start Your Own Business

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So, you're sitting in your cubicle feeling trapped and thinking, "I just want to get the heck outta here and start my own business." That can be a liberating feeling. I've been there. That said, just hating your job is not a strategy, and you really do want to get some things in order -- on the inside (of you) and the outside -- before you make the leap. So, if you only do 10 things before you make the career transition from employee to entrepreneur ... do these.

1) Get Clear on "It"
A life plan always comes before a business plan.  Otherwise you'll find yourself at the whims of everything else feeling just as awful as you did in your cubicle.  Know what you want and why you want it.  An excellent resource for making the leap consciously is the book and the blog of Pamela Slim at Escape from Cubicle Nation. I was a disciple of her blog when I was still in the cube, and I continue to learn from her excellent wisdom.  I am also a HUGE fan of using Laura Berman Fortgang's work "Now What?® 90 Days to a New Life Direction" as a means for defining your life purpose (sounds hefty, and it is, but the process doesn't have to FEEL heavy), getting clear on "it," and then moving forward fast in that direction. (On the disclaimer side, I am an authorized facilitator of her work -- but I truly wouldn't mention it if it hadn't changed my life and those of my clients.)

2) Determine If Self-Employment Is for You
It can feel great to say you're going to be your own boss when you're in the grips of a bad job.  And, being your own boss can be a most satisfying and successful journey.  That said, it all looks and feels a little different than that fantasy moment by the corporate water cooler when you're figuring out your billing system, creating a marketing plan, handling client relations, and running to Staples for office supplies at the last minute. Check out "Are You Cut Out To Be Your Own Boss?" and "Self Employment: The Hardest Way to Make Easy Money" by Karyn Greenstreet. It'll get you thinking deeply about your own situation.

3) Have THE Conversation
If there's more than just you (and your furry friends) in your household, you truly need to have the conversation BEFORE you make the leap.  Truly get others on board. A drastic change in schedule and income (yes, both do happen when you start a business!) are inevitable at least for the short-term.  Ensure that you have the support of those you love who live with and depend on you.   Talk about their concerns and fears, as well.  You want to be on the same page before you hang out your shingle so you can work out expectations, relationship, and financial concerns.

4) Get Your Finances in Order
You need a cash cushion to start a business.  Most businesses fail because they run out of cash.  I recently interviewed Melinda Emerson, the "SmallbizLady." (Listen to our conversation.) Her opinion was to have at least 12-24 months of cash on hand to pay all your personal expenses.  That is a lot of money for most folks.  You want to have all your debt and fixed expenses pared down to the bare minimum to give yourself time and opportunity to succeed.  The Money Coach gives some great advice on starting your own business, as well. Remember you want your business to serve you, not sink you.  Get your own finances in order before you start a business.  This includes any legal or financial documents and records you need to have in place but keep putting off.

5) Get Your Personal Life in Order
Starting a business is challenging enough, but if you don't have a strong personal foundation in place, you are doomed to failure.  Much like you cleaned up your financial life, do the same with your personal life.  Get organized, clear clutter, nurture relationships (including with yourself), and take fine care of yourself and your surroundings.  Consider these "5 Strategies for Life Success - Alanis Morissette" or the excellent books Take Time for Your Life and The Art of Extreme Self-Care by Cheryl Richardson as a place to start.

6) Start Networking Now
Your network is your net worth.  Regardless of whether

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paulag01 7 pts

Midnightbliss -- starting a biz while you have a paycheck is a GREAT time to do so.  I recommend baby steps... and getting support from resources that are out there or a good coach can be invaluable to keeping you moving forward without the overwhelm. That's what I did.....

To your success,

_Paula

midnightbliss 7 pts

thanks for these information.

a group of friends and me are planning to start a small business but because we are all employed, its hard to start from anything and thingd are kind of overwhelming since all of us don't have an experience of having a small business.

paulag01 7 pts

Thanks Stacey -- you point out an important fact... these are all great things to do to help increase your success, but by no means are absolutely required.  People have bootstrapped and succeeded on a whim or in tight circumstances...they (and you!) are the exception of success, not the rule.  Thanks fo sharing your story & congrats on making it all happen!

Paula Gregorowicz
The Paula G Company
http://www.thepaulagcompany.com

Learn 5 Steps to Move from Fear to Freedom ( http://www.thepaulagcompany.com/feartofreedom ) (free)

littlepeoplescove 5 pts

That is awesome advice. I missed a few of those items that I wish I knew about before embarking on my journey, but all in all it has worked out. I am actually working on some of those items still, networking is the bigggest I think, it keeps you moving forward.

In 2003 my son was very ill from having seizeures, I was working full time as a computer engineer running a school district computer systems network. I spent all my family leave 3 years in a row taking care of my son. It was stressful at home as well as getting stressful at work because I was gone so much. I brainstormed fro 3 months, to find a way to earn an imcome and stay home with my children. I launched my site in 2003, working on it every night until 1 or 2 am, laying on the floor of my bedroom with a 12" laptop. I started up my company with $50 for the website. Followed by lots of learning, lots of sleepy days and finally, after 2 years I quite my job and stayed home.

I would like to say that it was not easy, it was a lot of work, even times when I thought I must be totally crazy staying up all wee hours of the night while my family sleeps. What was I thinking? When it was time to quite my job, we did sell off our extra big possessions, just in case this did not make it. kinda scarey at first. I wouldn't trade it now though!

To all the ladies out there thinking about starting a business, here is my two cents. Research, research, research.

Thanks for listening.

Stacey Gifford, Founder and CEO of LittlePeoplesCove.com ( http://www.littlepeoplescove.com ), a unique childrens furnishings store. You will find a high quality selection of childrens furniture, wooden toys, room decor, kids sleeping bags and toddler nap mats at affordable prices.

FawnM 5 pts

Thank you for listing these critical steps and the inclusion of additional resources.

After years of thinking about it, plotting, scheming, I recently left the "security" of my job . Scary, yes ... but wonderfully exciting. And as ClizBiz remarked, more time consuming, too. I wish I would have designed my plan more thoroughly, but there's nothing like a hole in your bank account to motivate you. Those who leap should be proud, at least, of that.

Fawn (a.k.a. the amoeba)  www.fawnmcmanigal.com

cybermondaydeals 5 pts

I totally agree with you -- building your support team. The best way to do that is through the get started networking...so in a way I mentioned it, but you give it far more specificity & I truly appreciate you adding your experience! great article. I add this blog on my bookmark. Cyber Monday Deals ( http://www.cybermondaydeals.biz ) Black Friday Deals ( http://www.dealsblackfriday.us )

kirevi8 5 pts

Thank you for sharing!

I am working homeoffice and selling handmade jewelleries from my Etsy shop.The poblem is that I am Living in Turkey and trying to sell to an other county.The difficulty is that I do not know the daily life of American ladies,their choises,their desires

It takes so long time to get use to catch them

Anyhow I am doing my best and hope they will notice me one day:))

Best

Semra

Heather Clisby 6 pts

Hey Paula,

Your timing is perfect. I've just recently embarked down this road - so scary, so wonderful. Most of all, so empowering. I haven't worked in a cubicle since May 2006 and I'll be damned if I'm going back.

The main difference is that your job (at least mine) is no longer a M-F, 9-5 deal. It's all the time, anytime and in between other stuff. All I can say, is thank god for technology! I've worked with my clients now for nearly a year and we have yet to meet face-to-face. (Soon, though.)

~ClizBiz

BlogHer Contributing Editor, Animal & Wildlife Concerns, Proprietor, ClizBiz ( http://www.clizbiz.blogspot.com/ )

paulag01 7 pts

Hi Beverly,

I totally agree with you -- building your support team.  The best way to do that is through the get started networking...so in a way I mentioned it, but you give it far more specificity & I truly appreciate you adding your experience!

Paula Gregorowicz
The Paula G Company
http://www.thepaulagcompany.com

Learn 5 Steps to Move from Fear to Freedom ( http://www.thepaulagcompany.com/feartofreedom ) (free)

Beverly Flaxington 5 pts

When I left my corporate job 15 years ago to become an entrepreneur, I could've used this! One thing I would add to your list -- know your strengths and find support for your weaknesses. I teach Small Business Management at Suffolk U and I always tell my students that we over-estimate just how many bases we can cover. It's healthy to take inventory about what you are really good at (and like) so you can find ways to compensate for all of the other things that need to be done. I still miss the tech support and wonderful admin I had in my corporate life! Know thyself might be added as the 11th point...

Beverly Flaxington

Blog: Dealing with Difficult People ( http://dealingdifficultpeople.blogspot.com/ )

Book: Understanding Other People: The Five Secrets ( http://www.understandingotherpeople.com/ )