Literally anyone can start or buy an existing business. The first step in deciding to go out on your own is a serious introspective gut check. I went out on my own in 1993 with a pregnant wife and faith. Fortunately I was a broker for a major NYSE firm and had clients already – but would they follow me. If I surveyed them, would they tell my boss? What if I lost all of them in the move. Questions, fear and eventually paralysis set in. That was until one day, sitting in church a wave of peace came over me and a big “Yes” settled into the core of my being. The next year I earned almost three times what I had the prior year, basically doing the same volume, except I did not have to pay Merrill Lynch 72% of my commissions.
You must have either existing customers, a wide network, or a skill that is in demand to make the move. I had no savings and a lot of expenses. I retained 90% of my clients and started gaining new ones. I found people were buying me not my former company. It is probably the same of you. I love picking out stationary, and a logo and an office. I loved being able to pick any location or view I desired. The freedom was exhilarating. I had my wife’s support but she was obviously apprehensive. Within a few weeks I was cash flowing. My check didn’t say Merrill Lynch on it. I simply paid myself from my business account. No one was telling where to sit, who my assistant would be, what to sell, what meetings I had to attend or when to come to work. Some days I didn’t. Other days I worked from home.
I realize there are a lot of considerations which why you must have a business and a marketing plan, nothing elaborate, just one that covers the bases. You may have to keep a part time job, do contract work or borrow money. Every situation is different. Keep reading.