SCORE Small Business Blog

Starting: Accidental Entrepreneur Plan B
2 Comments

Overcome Adversity with a Back-up Plan

iStock_000007309956XSmall[1]In this land of opportunity, there is sometimes adversity.

What’s the solution? Plan B.

If you are ready to start-up a business until you find another job or take on a few freelance assignments while looking for a job–plan ahead.

Plan B can work for you. First, surround yourself with great people. Colleagues who believe in you and who can encourage your success. Your network of contacts who can be potential referral sources. And, mentors to guide you on successful first steps.

Plan B Quick Start

1. Decide up front is this a short term path or long-term future.
2. Form a business, even a sole proprietorship. It helps when managing your taxes.
3. On one page define your business vision, sales goal, net earnings (income for you after expenses) and how you are going to secure those sales.
4. Meet with a mentor to review your plan. Identify expenses and set sales targets. Get feedback. Ask questions to help you hone your plan.

Resources for a Start-up

Free Tools to Accelerate Success
Quiz: Be Your Own Boss

Talk over your idea. Think about your business direction. Map out a plan of action. Get advice, feedback and support Get a SCORE mentor.

Christine Banning, SCORE
View more posts by Christine

SCORE
For 50 years, SCORE has helped aspiring and current small business owners achieve their dreams. Through a network of over 11,000 volunteer business mentors in 340+ chapters across the country, SCORE connects decades of business experience and knowledge with those who can best use it.
www.SCORE.org | Facebook | @SCOREmentors | More from SCORE

// |

Discussion (2) Comment

  1. Ron:

    Appreciate you sharing an important point. Building a business based on your core strengths can ramp up a start-up and success.

    For those bridging between jobs, your point is especially helpful. Seek freelance work from your past employer, so you employ your key skills and keep cash flowing–while seeking a new position. Or, this can be the first client of a new consulting firm.

    Thanks, Ron.

    Best,
    Christine


  2. Ron DervenVisitor

    Starting a business as a short-term program can be tough, unless you will work in a business that you know well. One busines writer we know was laid off from a trade magazine company. On the way out of the door, he let the other top editors know that he was starting a free lance writing busines and he would appreciate it if they could send some articles his way. He got almost more work than he could handle but he did handle it while seeking a new job. Within two months he did get a job. He stopped taking new assignments on hearing he had been hired but he nevertheless fulfilled his commitment to finishing each and every article that had been assigned to him.

    Ron D

 

Leave a Comment