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From Executive to Entrepreneur: 7 Essential Keys To Success
Leaving corporate life can be scary but these questions can help plan a smooth transition.
Linda was excited. “Time for a career change! I’ve got a terrific idea for a service targeted to first-time home buyers and real estate agents. And I’ve got a year’s salary in the bank.
“My friends say, ‘Go for it!’” she continued. “But my business advisor warns, ‘If the real estate market slows down, your idea won’t work.’ How can I forecast the real estate market?”
No crystal balls here.
Did you hear a crashing sound? That was my crystal ball, shattering.
Back to reality.
When you can’t predict events but you need to protect your future, your question shifts from “What will happen?” but “What would I do if X happens?”
Let’s face it: Sometimes we need to carry an umbrella even if the sun is shining and we have an “all clear” forecast.
(1) How well do you know your target market?
Clients who consider starting a business usually worry about getting a business license, finding health insurance, and accumulating capital. Sure, these areas are important. But what you really need are customers.
