Entrepreneur Starting Line (ESL) is dedicated to providing small business advice. If you are in the planning a business start up or are within the first 5 years after start up than this podcast is for you.
We will interview successful business owners who have already gone through the business start-up experience. Their stories will both inspire and motivate you to press on to your goal.
In this first episode, I’ll be sharing my experience of going from a Partner in a CPA firm to a solo-entrepreneur. Almost five years ago, I started a business coaching and consulting practice. It was a big decision to leave the comfort zone of a large firm and secure income for the risk zone of a start up business.
The timing of my decision didn’t appear ideal since my oldest son was in his senior year of high school getting ready for college, my wife was a stay at home Mom and the economy in the tank. It doesn’t sound like the idea circumstances to start a business does it?
I would say the best time to start is the time you are ready. The lights aren’t always green in business or life and often the best time to get going on your dream is right now. It is not when the economy gets better, not when you kids are done with college, not when we get new leadership in Washington or any other external factor.
It’s when you are ready and willing to embrace the uncertainty and go for it.
Start Up Advice
The advice I would give someone about to start a business or is within the first years of starting is to give yourself enough financial run way to get your business up and running. You need enough time to first reach break-even and then profitability which usually takes longer than most plan for.