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Entrepreneurs: Planning Your Escape From Your Job

Preparing for Your Business


It makes good sense to do plenty of research on your new business and get all your questions answered before you make any decisions on anything.


Consider these ideas:

  1. Get an insider’s opinion. If you could get an insiders’ view of that business, it would serve you well. Standing on the outside looking in is a lot different from being on the inside looking out. It could save you a lot of time and money.

● Find someone who has already walked the path you intend to tread and ask them, “If you were doing this all over again, what would you do differently?” Their answer will probably be the most valuable conversation you could possibly have for your new business.

  1. How will you generate a profit? It’s important to figure out, to the best of your ability, the easiest and most effective way of generating a profit from your new business.

  2. How will you scale up? Determine what you need to have in place to scale it to handle ever larger volumes of customers. Customers are the key, because they are the people who will provide your profits.

  3. How much time do you need to get the business started? Determine how much time you have available to get your business off the ground. Naturally, the more effort and energy you put in the quicker everything will go.

● How long will it take for your business to generate some meaningful profit? Make a reasonable estimate based on the information collected.


Once you’ve determined these aspects, it should be possible to calculate with some reasonable level of certainty what needs to be done in order for you to create a timeline for escaping from your current employment.


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