~by Haley Lynn Gray~
So you want to leave your corporate gig to start your own business, but you’re afraid to cut ties. How do you stop thinking and start acting?
Many times, when we are working for someone else, we want to do something else. That may be to make a difference, make more money, control our hours, have more flexibility, or a thousand and one other reasons.
The reality is there is a list of things you can do before you leave your corporate job to help your business get up and running before you get started.
I spent almost 18 months researching the home care market, interviewing caregivers and geriatric care managers, and experiencing home care from a client perspective. I then did my MBA concentration in Entrepreneurship and Innovation and put together the business plan for Extension of You. Okay, maybe you don’t need an MBA, but you do need to do plenty of thinking about what you’re going to do. Setting up a basic foundation before you leave your corporate job will save you a great deal of hassle and aggravation.
- Market research – Who are your competitors and what are their prices? Who is your ideal client and what products or services do you want to provide? Get to know the industry super well.
- Incorporation – Talk to an attorney and incorporate your business once you’ve decided to go forward. Sure, you’ll spend a few hundred dollars on it, but most business attorneys will tell you this is very well spent money, as it can provide a great deal of protection to your family and life in the case of problems in your business.
- Bank accounts – You can absolutely set up your bank accounts and get a decent amount of money saved up to fund you once you leave your corporate job. Take the amount you think you’re going to need and double it. Starting a business can be expensive and having a great cushion while you’re navigating will save you serious heartache.
- Get insurance setup – You will need professional and liability insurance for a new business. Get yourself a great insurance agent who can tell you what you need to do and help you make sure you are covered.
- Licenses and Certifications – Make sure you have any and all licenses and certifications you need to run your business. Leaving your corporate job to start a home care agency, then finding out that you have to wait two years to get the license would suck. Make sure you figure out all licenses in advance and know the time frames in which you will be able to get them.
- Start getting clients for your business – You can advertise on Facebook and let your family and friends know you’re in business and looking to grow. Frequently, the first referrals are going to come from family and friends, so make sure you let them know you need help. Most of them are happy to do so, if you just ask.
There are a lot of things you can do to research your business and set it up successfully.
Meet the Author: Haley Lynn Gray
Haley helps female entrepreneurs create a strategy plan for their businesses – so they can make enough money to spend quality time with their family, pay for their children’s dance lessons, pay bills – and not worry about where the next client is coming from.
Haley is a serial entrepreneur and founder of Leadership Girl. She helps other entrepreneurs build their businesses by sharing the benefits of her business education and experience through Business Coaching.
Whether you want to get a new business off the ground or expand an existing business, Haley can assist you.
Connect with Haley:
- Work with Haley
- Facebook Page: @Leadershipgirl
- LinkedIn: Haley Lynn (Wilson) Gray