How I did it: I spent a year working a full-time job, and doing my business part-time.  I also received a small loan, and used my savings.  Now, my business brings in about 90% of my total income.  It is not easy at times, but worth the time and effort.  It's a 24/7 job.  I've had some failures, but I keep going.  Take my advice---make sure you have enough money saved to get through the slow periods.  Have AT LEAST 6 months in savings...and pay your quarterly income taxes to the IRS on time.  Expenses come up, and you need to be prepared.  Good luck to everyone!

Lessons & tips: Determine how much money is needed to start your business--and DOUBLE that amount!  Extra expenses always come up.  Keep an emergency cash fund--6 months of living expenses minimum.

Resources: The Small Business Administration (SBA) offers free information and consultation.  Check for the office in your town.  www.sba.gov
Read these books: 
"Do What You Love, The Money Will Follow"
"Making a Living Without a Job" by Barbara J. Winter
"Career Solutions for Creative People" by Dr. Rhonda Ormont

Nov 09, 2008, 04:01PM PST | 0 comments