Making BIG moves...

[Fabulous Shadow]

I've decided to leave my job and start my own consulting business.
I have been pondering the idea for a few months but finally made the decision today. I have a freind that works with me and we are doing it together. I already have a few clients that I'm consulting and they assured me they could give me refferences. It's just a big move and big decision but something that has been driving me for sometime now. habe any of you ever just took the bull by the horns and WENT FOR IT? How was your experience? Success? Failure? In between? Tell me your stories about BIG MOVES...

[SoCalChelle]

Gutsy move. Hope it works out for ya Sorry I don't have a story to share....

[ZahZoo]

I've done some consulting work... both as an independant and for a Fortune 100 company. First step is get a very good attorney with experience in contract law. You will need to have contracts with each client and you've got to protect yourself. Another good move is hire a tax attorney and establish a corporation for your business. This can minimize your personal liability and personal assets.

The tax attorney can help with navigating the tax laws regarding self-employment and as a contractor you may need to withhold your own taxes/social security... do it right from the very start. It's too easy to spend untaxed money and put off paying but much more difficult to come up with a year's worth of taxes in lump sums on the fly.

Another good idea... build up at least a year's worth (3-5 is best) of financial cushion to ride out off periods and business slumps. Stay in good w/ your attorney as well if contract disputes come up... even in big corporate business not everybody plays fair or "right".

Best of luck to you!!

[guwapo_rocker]

Originally posted by Fabulous Shadow
have any of you ever just took the bull by the horns and WENT FOR IT?

That's just fucking gross!! But you might get some responses from

some of the linkers.

[Fabulous Shadow]

Good advice ZZ...I have a great attorney. Family friend that did counsel for my daddys businesses.
As for cushion... Daddy set me up very well, so that base is covered as well.

Only think that worries me is the drive to get me out off bed and to work on time each day... Ya know, someone there expecting you at certain time each day...

[Carmine]

good luck on YOUR big move Fab!




as Rob Schneider once said: " YOU CAN DO IT!"

[Fabulous Shadow]

hmmm... I don't know if Rob Schneiders advice motivates me or makes me want to rethink my resignation...

[Carmine]

hmm. its pretty good advice. I'll try another way..................

[Keeyth]

Originally posted by ZahZoo


Another good idea... build up at least a year's worth (3-5 is best) of financial cushion to ride out off periods and business slumps. Stay in good w/ your attorney as well if contract disputes come up... even in big corporate business not everybody plays fair or "right".

Best of luck to you!!

O.K. here's my question: How in the heck can you build up 3-5 YEARS of financial cushion when embarking on a new business?

I hear this kind of thing all the time from financial 'experts' but for the life of me, I can barely put together 3-5 MONTHS of financial cushion, and sometimes I can barely do THAT... ...how is it that one does this exactly??

[Keeyth]

Originally posted by Fabulous Shadow
I've decided to leave my job and start my own consulting business.
I have been pondering the idea for a few months but finally made the decision today. I have a freind that works with me and we are doing it together. I already have a few clients that I'm consulting and they assured me they could give me refferences. It's just a big move and big decision but something that has been driving me for sometime now. habe any of you ever just took the bull by the horns and WENT FOR IT? How was your experience? Success? Failure? In between? Tell me your stories about BIG MOVES...

Good luck to you Fab, I wish you all the best. I wish I had the opportunity ( and guts) to totally change my career, as I am starting to really hate mine lately... ...good for you, and don't let anybody bring you down!

You go girl!

(I still wanna have naked monkey sex with you though!! So... ...STRIP!! )