Striking out on your own

I have been working with a woman for several months who has been increasingly miserable in her job. There is a major change underway in the top echelons of her company. She represents the old guard and she's not sure what her role will be in the years to come. Mostly she hates the long hush-hush, closed door meetings and the current absence of a clear chain of command. She learned recently that an independent firm, which does just what she does now, is up for sale. She has the experience, the contacts, and a client base already established. If she were able to buy out the independent firm, she could have her own business doing what she loves without having to deal with the ever-shifting company politics. The timing is exquisite since her house is paid off, her kids are through school and on their own, and her husband's business is thriving.

I told her about setting up my practice. At the time it seemed like a lot of cash up front to rent an office, to furnish it and furnish me with some proper professional attire. I bought second-hand furniture which I've gradually been replacing with nicer items. I still use the thirty dollar desk I bought eight years ago. I have to re-glue the drawers which loosen up each winter. I keep a bottle of wood glue handy. I share a secretary and phone and I do my own bookwork which keeps down expenses. I was amazed when my business broke even after only seven months and I managed to clear a tiny profit after ten. I'm still amazed.

To run your own business, it's necessary to be a self-starter and highly disciplined. This woman has those attributes. And it really helps to have someone by your side saying "you can do this". I sent her on a fact finding mission so she can determine whether buying the business or starting from scratch will be the best route. In closing, she said wistfully I always told my kids to do what they love. Then she smiled.