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    3 Replies Latest reply on Sep 19, 2008 12:06 AM by Lighthouse24

    transitioning

    mycakes08 Newbie
      Hi, I am starting a new Business soon and does anyone have any suggestion on how to transition from a working individual for a Great Company, and go into working for myself?
        • Re: transitioning
          LUCKIEST Guide
          transitioning, Welcome

          *You are * starting a new Business soo. How soon??

          Suggestion, Contact SCORE. SCORE is FREE and can help you with the transition

          and starting a new Business.

          Good luck, LUCLIEST
          • Re: transitioning
            bznsonr Newbie
            Study and research. Libraries and book stores. Determine what skill sets you may be missing such as estimating costs, selling product, or understanding bookeeping and find a way to learn or practice those skills. Make a business plan with a sales plan and a budget. You will fail without sales. Make a plan A, a plan B, and a plan C for sales in case things do not go as planned. Make a cash flow projection to determine how much capital you will burn through before cash flow turns positive. Then find a source for that capital plus 50% more. Find a bank that specializes in SBA loans if possible. When you do take the plunge, be ready to work your tail off for the first several years. The good news is that if you can make it work, it is worth all the hard work.

            Good Luck
            • Re: transitioning
              Lighthouse24 Ranger
              I posted an article in the Stories section awhile back "Making the Leap to Self Employment" -- you might find it helpful. Here's the link:

              Making the Leap to Self-Employment

              Welcome to the community and best wishes.