Take the entrepeneurial leap? 1

[Elastoman]

I have steadily worked in my field for 20 yrs making progress as would be hoped for professionally (publications, patents, etc). The desire to start or purchase my own business has never been stronger.

How do you make the leap? I do not mind a cut in pay for the purpose of gaining satisfaction.

Thanks for any thoughts on this.

 

[PSE]

Which desire is stronger, the one to purchase an existing company or the one to start your own? Each has very different paths as well as benefits and risks. I would recommend deciding this first.

Regards,

 

[RichGeoffroy]

Elastoman:

Check out the Starting and Running an Engineering Practice Forum.

Check out the FAQs for useful information for both the novice and the professional.

Join in on the discussions. We can all learn from each other.




Rich Geoffroy
Polymer Services Group
POLYSERV@aol.com

 

[friartuck]

I have done it. It is very hard but extremely rewarding.

It takes years to do but it can be done.. Everybody had to start somewhere.

a. Write a business plan.(be realistic)
b. Who are your potential custumers.
c. Which clients can be relied upon to give you business (some will make promises and break them)
d. Save at least 4 months salary. (People don't pay on time.
e. Don't burn any bridges...keep on good terms with your boss, you may want to go back.
f. Get all your business stationary (Letter heads, QA systems etc) sorted well in advance.
g. Keep your plane secret.
h. You may need to do 'bits on the side'. Work for people you trust.
i. Pick your customers wisely...some may not pay you at all.
j. make sure you have the resources to do the work. Don't take on too much or you will lose your customers as fast as you can gain them.
k. Be thorough, accurate and methodical.
l. Communicate. tell the customer what is happening. If theres a problem, do not hide it. Be honest.

I could go on but you might fall asleep

ciao

Friar Tuck of Sherwood