Several years ago, the husband of a friend of mine was struggling with his career direction. It was daunting for him to choose between the security that comes from working for a larger firm, versus striking out on his own to start a business. He had done some freelance work in the past, but mostly in the evenings after his 9 to 5 job. The idea of starting his own freelance business was appealing, and he thought it might be more rewarding, both artistically and financially. The main problem was that the security of a paycheck was important to his family. He was married with a child, and he had short-term obligations to consider.
Figuring Out How to Start a Business
My friend asked her husband to talk with me about his dilemma. It was a bit uncomfortable for him at first since I was a stranger, and he had to tell me his story, and be vulnerable with me. However, we quickly developed trust, and he asked good questions. Most of his questions were centered around starting a business from scratch. The rest focused on time management, billing, and other operational issues. He knew that he had the talent necessary for a new career, and he wanted to make sure that he understood the landscape.
When our round of questions was over, we talked about his current situation. There were many openings available where he could send his resume, and he knew that it would not take long for him to land a decent job. However, he also had a potential client lined-up if he decided to start his own business. His previous employer, from his job before he moved to California, was willing to hire him as a part-time contractor. I believe this opportunity gave him the confidence he needed to start a boutique firm, and to go into business on his own. However, the part-time contract work would not generate enough income on its own. He would need to look for more clients if he was going to be successful. Since he was new in town, this prospect could prove to be difficult. We talked through this process together as well.
What Is It That You Want?
I asked him the pivotal question in my mind, which was “What is it that you want?” He said that he had always wanted to go out on his own, but the opportunity had never presented itself. Now that he was married with a child, he was not sure if starting a business of his own would be the best course. I asked again, “What is it that you want?” He responded that what he really wanted was to give it a try. If the freelancing failed, then he would just go back to his old career and find a full-time job.
This provided me with an opportunity to press him a little more. I reminded him that I did not ask him what he would do if the business failed. I had only asked what it was that he wanted. This time his answer was clear. He said, “I would like to run my own business, work with just a few clients that I chose to work with, and have the freedom that comes with working for myself.”
The Freedoms and Responsibilities of Starting a Business
My response to him was that working for yourself does not guarantee freedom. Owning your own business ties you down much more than a 9 to 5 job would. There are no paid holidays, no benefits packages, and your billable hours are often cut in half. This is because half of the time you are making sales, or performing operational and accounting functions that nobody pays you to do. However, working for yourself does provide some freedom. You are free to work the hours you want to work, and to select clients who fit your preferred profile.
Eliminate Your Plan B
He said that he understood these issues, and he still wanted to move forward with the freelance work. However, he also decided that he wanted to send out some resumes, just in case things didn’t work out well. The idea was still on the backburner that there might be a job out there that would be perfect for him.
I asked again if he genuinely wanted to be independent, and start his own firm. He said that he did. I asked if he wanted to be successful, and again he said, “yes.” So, I asked if he wanted some advice, and he said, “Of course, that is why I am here.” The advice that I gave caught him off-guard. It was unusual, and provided more risk than most people would be willing to accept. I said, “If you truly want to be successful, then eliminate your Plan B. Do not send out any more resumes. Commit yourself to your goal.”
Turning a Plan Into Reality
We discussed that there would be a lot more planning needed to achieve the goal of starting his own business. Having a goal without a plan is not a goal, it is just a wish. The first step was to ensure that he had a commitment from his family. Starting a business is hard work. It was going to take up more of his time than a regular job, and he would undoubtedly bring home far less money initially. He would also incur expenses, such as marketing, equipment, licenses, and fees during the start-up phase. Not every spouse would be supportive of this. My friend’s husband assured me that his spouse was supportive of his plans. With that critical step accomplished, and with his commitment to success in this venture, it was time to begin planning.
Remember, no amount of planning will ensure success by itself. Creating a business requires much more than just planning to be successful. Once the plan is sound, it requires specific actions that lead to strategies, and strategies that lead to goals. Check back soon for more information about the goal attainment process in a later blog. For now, we ask you to consider that there are several steps involved before deciding to move forward to start a business. Getting sound advice from a trusted mentor or business coach can be extremely helpful throughout this life-changing process.
Several years ago, the husband of a friend of mine was struggling with his career direction. It was daunting for him to choose between the security that comes from working for a larger firm, versus striking out on his own to start a business. He had done some freelance work in the past, but mostly in the evenings after his 9 to 5 job. The idea of starting his own freelance business was appealing, and he thought it might be more rewarding, both artistically and financially. The main problem was that the security of a paycheck was important to his family. He was married with a child, and he had short-term obligations to consider.
Figuring Out How to Start a Business
My friend asked her husband to talk with me about his dilemma. It was a bit uncomfortable for him at first since I was a stranger, and he had to tell me his story, and be vulnerable with me. However, we quickly developed trust, and he asked good questions. Most of his questions were centered around starting a business from scratch. The rest focused on time management, billing, and other operational issues. He knew that he had the talent necessary for a new career, and he wanted to make sure that he understood the landscape.
When our round of questions was over, we talked about his current situation. There were many openings available where he could send his resume, and he knew that it would not take long for him to land a decent job. However, he also had a potential client lined-up if he decided to start his own business. His previous employer, from his job before he moved to California, was willing to hire him as a part-time contractor. I believe this opportunity gave him the confidence he needed to start a boutique firm, and to go into business on his own. However, the part-time contract work would not generate enough income on its own. He would need to look for more clients if he was going to be successful. Since he was new in town, this prospect could prove to be difficult. We talked through this process together as well.
What Is It That You Want?
I asked him the pivotal question in my mind, which was “What is it that you want?” He said that he had always wanted to go out on his own, but the opportunity had never presented itself. Now that he was married with a child, he was not sure if starting a business of his own would be the best course. I asked again, “What is it that you want?” He responded that what he really wanted was to give it a try. If the freelancing failed, then he would just go back to his old career and find a full-time job.
This provided me with an opportunity to press him a little more. I reminded him that I did not ask him what he would do if the business failed. I had only asked what it was that he wanted. This time his answer was clear. He said, “I would like to run my own business, work with just a few clients that I chose to work with, and have the freedom that comes with working for myself.”
The Freedoms and Responsibilities of Starting a Business
My response to him was that working for yourself does not guarantee freedom. Owning your own business ties you down much more than a 9 to 5 job would. There are no paid holidays, no benefits packages, and your billable hours are often cut in half. This is because half of the time you are making sales, or performing operational and accounting functions that nobody pays you to do. However, working for yourself does provide some freedom. You are free to work the hours you want to work, and to select clients who fit your preferred profile.
Eliminate Your Plan B
He said that he understood these issues, and he still wanted to move forward with the freelance work. However, he also decided that he wanted to send out some resumes, just in case things didn’t work out well. The idea was still on the backburner that there might be a job out there that would be perfect for him.
I asked again if he genuinely wanted to be independent, and start his own firm. He said that he did. I asked if he wanted to be successful, and again he said, “yes.” So, I asked if he wanted some advice, and he said, “Of course, that is why I am here.” The advice that I gave caught him off-guard. It was unusual, and provided more risk than most people would be willing to accept. I said, “If you truly want to be successful, then eliminate your Plan B. Do not send out any more resumes. Commit yourself to your goal.”
Turning a Plan Into Reality
We discussed that there would be a lot more planning needed to achieve the goal of starting his own business. Having a goal without a plan is not a goal, it is just a wish. The first step was to ensure that he had a commitment from his family. Starting a business is hard work. It was going to take up more of his time than a regular job, and he would undoubtedly bring home far less money initially. He would also incur expenses, such as marketing, equipment, licenses, and fees during the start-up phase. Not every spouse would be supportive of this. My friend’s husband assured me that his spouse was supportive of his plans. With that critical step accomplished, and with his commitment to success in this venture, it was time to begin planning.
Remember, no amount of planning will ensure success by itself. Creating a business requires much more than just planning to be successful. Once the plan is sound, it requires specific actions that lead to strategies, and strategies that lead to goals. Check back soon for more information about the goal attainment process in a later blog. For now, we ask you to consider that there are several steps involved before deciding to move forward to start a business. Getting sound advice from a trusted mentor or business coach can be extremely helpful throughout this life-changing process.
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