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Laying the foundation for your business
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Picture by Nicole Peattie
It’s time to set the foundation for your business so that you can fully design your plan of escape. In order to design your plan of action you must first determine what type of business you will have. What will you be selling, how will you be selling it and what size will it ultimately be? Based on those factors you can then begin to gain relevant business knowledge. There are two ways I recommend getting the most relevant business knowledge:
- Read business books: especially those that cover the financial aspect of running your business. Be sure that you are reading books by people who have successfully launched businesses, not just advised others on launching their business. Do your research. A little time spent here will save you a ton of heart ache and time.
- Get a mentor: join a mentor program, workshop or one on one mentorship program. Remember, like the authors of the books, do research on your mentor. Your mentor needs to be someone who has successfully created the type of business you desire. By working with individuals who have paved the way, you will minimize mistakes and maximize your efforts.
Regardless of how much research and learning you do you will make mistakes. The important thing is how you learn from them and how you move beyond them. It is for this reason that I also recommend having a coach. Some mentors are also coaches and therefore you can get two for the price of one. A good coach is someone who can help hold you accountable, help you to gain perspective and help you map out your plan of action based on what you learn as you build out your financial knowledge. With the right business knowledge and accountability system, you will be transitioning out of the corporate life in no time at all!
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