5 Things to Consider Before You Leave Your Day Job to Run Your Business Full-Time
You own a home-based business that you manage during your “spare time,” between juggling your day job, household responsibilities, and volunteer commitments. How do you know when you are ready to take the leap and run your business full-time? Here are 5 things you should consider:
1. You are passionate about starting a business. You enjoy baking cupcakes or consulting, but you thrive on “building the business.” You take pleasure in selling, marketing, working with your lawyer and accountant, and everything else involved in the day to day operations of your company.
2. You have a support network. You have a friend, spouse or WEDC classmate who believes in you and keeps you motivated.
3. You have experience in the industry you are choosing. You understand the market as well as the threats and opportunities in your industry.
4. You have a business plan. Your product or service meets a market need, you have identified your target customers and a way to reach them, and you understand your finances.
5. You have a minimum of six months to one year of living expenses in reserve. You need to be sure you have sufficient funding to take care of yourself and your family so that you can give your company time to grow.
Join us on Thursday, May 10, to hear a panel of WEDC clients tell us about their paths to full-time self-employment, at our workshop entitled, Mind Your Own Business -- Full-time? It will take place from 6:00-8:00pm in the Lobby Board Room at 1133 Westchester Avenue, White Plains. Madeleine Payamps, Women In Transition/Life & Career Coach, will be moderating a discussion between Alice Benedetto of Raw Revolution, Roxanne Ferrance of Cake in a Cup NY, and Laura Ruben of Essential Assists.
The program is free, but registration is required. For more information and to register, please go to http://tinyurl.com/6nfeocs.