I Am The Boss Now...And YOU Can Be TOO!

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Getting Ready

So, you’re ready -- or geting close to being ready -- to start your full time or side business at home. What should you do now?

For the smoothest transition, follow these easy steps to prepare for your new life:

1) Clean house:

Create a space to run your business. It can be a room (if you’re lucky enough to have a spare), a desk, a corner, a folding office -- I live in one room, and I am working out of a file box and my coffee table (when the printer is out, it’s an office!).

You’ll need to set up an high-speed internet connection, so you can surf and talk on the phone at the same time. I also set up unlimited local and long distance on my home phone, since I'll be using it more than before and didn't want to worry about it. You’ll need basic office supplies, a comfortable chair, and most important, a commitment to make things happen!

2) Get your finances in order:

First of all, if possible, make sure you have money to live on for a while. So, if you have a job, KEEP IT for as long as you can. If, like me, you lost your job, take stock and take charge.

Do whatever you have to do to ensure that you'll have enough money to pay for your essentials. Ask your former boss to give you more severance pay, or to cover your health insurance while you get back on your feet. Apply for unemployment insurance if you're eligible. Consolidate your credit cards to a low interest loan, or call your credit cards and ask for a lower interest rate or introductory rate, a higher credit line and/or more time to pay. Apply for new cards with 0% introductory rates. Then, do whatever you have to do so you can support yourself during this transitional time. Set up a home equity line of credit, move your money from a traditional savings account to one with a higher interest rate (INGDirect.com offers 2%.)

If you have to, get yourself a part-time job so you can devote yourself to your new business.

3) Set up shop:

If you're going to be a business person, start acting like one! (As they say, Fake It till you Make It!) Do you have an attorney and tax professional? If not, ask around to friends and business associates for recommendations, interview them by phone until you speak with people that you feel comfortable with. One of my most successful friends advised: get the best you can find, they'll save you tons of money and stress in the long run. What you need from them at the beginning is advice on which business structure is right for what you want to do -- should you be a sole proprietor, corporation of a Limited Liability Company. Each offers different benefits and drawbacks, and every situation suggests a different structure.

Setting up your corporate structure will be both tax advantageous and will protect your personal assets from any legal issues which may come up for your business in the future. Your attorney and tax advisor will tell you what's best for you.

Nevada and Delaware are both states which are business friendly, where it is tax-advantageous for some people to set up their companies. Incorporating your business in tax-free Nevada could save you thousands of dollars. If your advisor agrees that it might be right for you, I recommend contacting Lori Kelly at LorettCo, which specializes in forming Nevada corporations and LLCs with complete packages starting at $299. While she will not advise you on the type of structure that's best for you, I've found her to be wonderful at getting the paperwork done at great prices with excellent support. Tell her you learned about her here.

Once you have your corporate identity, get a Tax ID number and open a business bank account. Make yourself some business cards and stationery and envelopes if your business will need them. VistaPrint offers 250 FREE cards to get you started, plus a variety of other business printing.

Now, you're in business!

4) Make Time:

Starting a business, especially while you're still working for someone else, is time-consuming, although it's so much fun, it really doesn't feel like work! WHat you're going to need to do is set up a schedule and STICK TO IT! You're going to need, conservatively, 10 hours a week to get started. So pick some down time -- you know, the time you usually watch TV, play solitaire, putter around the house. You can do all day Saturday, two hours a day during the week, a few evenings -- whatever is going to work for you so you can get the job done. And get to work!

5) Set up your support system:

This one can be tricky, especially if you have a spouse and kids to take care of, bills that have to be paid, and people around you who like to play it safe and don't believe that you're doing the right thing. Don't make them wrong, but do your best to get them excited about your projects and goals, take the time to explain to them exactly what, why and how you're doing what you're doing and ask directly for their support.

Beyond that, there are two EXCELLENT sources of support for your new venture: People you know, and people you don't!

I found as I started working with my new businesses, and sharing my knowledge and information with friends, several were VERY interested in what I was doing. These people became my allies, and now work with me in different levels of participation. We work on the websites together, we look at houses to buy together, we take seminars together and all around support each other.

Speaking of seminars, I've attended a few since I began his venture, and they've been a source of both information and a nationwide circle of like-minded people with whom I communicate on a regular basis, sharing friendship, knowledge, motivation and support.

Great resources: The One Minute Millionaire teleconference, which will introduce you to the Enlightened Millionaire Institute, and Peak Potentials training.

6) Start Reading:

Throughout this website I have recommended a series of books that have been instrumental in getting me going. Some you read all the way through, and some you read a few minutes every morning to get you on the right track for the day. Some are informational, some are inspirational, all are essential to a successful business. Click here for a list of what I consider the best, and to be taken to Amazon.com if you'd like to purchase them.

7) Pick a starting point:

There are many many ways to make money in your own business, usually much more money than you EVER made working for anyone else. Real Estate, Internet, Network Marketing, Information Marketing, Stock and Option Trading -- the choices can be overwhelming. If one of these categories calls your name, that's the place to begin. If not, just pick one. Try it for a while, you can always switch or add another category -- and you should, based on the principles of Multiple Streams of Income . Money can flow to you from many directions. The first one is the most difficult. Just do it.

8) Contact us with any questions:

Here at www.IAmTheBossNow.biz we have a panel of successful entrepreneurs, mentors, teachers and coaches to guide you and put your fears to rest. Contact us and let us help.

9) Get to work:

Getting started is scary. Turn your fear into power and just do it. It gets easier from here. I promise.

10) Enjoy!

I LOVE working for myself. You will too. And you're going to make a lot of money. Just stick with it and contact us when you need some support. For some motivation to get you started, click here: If I can do it, YOU CAN DO IT! And I AM doing it!