In mid June of 2006, after months of being disgusted with my current job and considering my options, I decided that it was time for a new direction in my life. I spoke with a friend and colleague of mine and we realized that there wasn't anything stopping us from starting our own small independant software consulting firm. We'd both worked for a few firms in the valley, seen the way that they operate and we positive that it could be done better.
Before we knew it we were creating a business plan, applying for licenses, designing a website and logo, going to classes on how to run a small business. Within a few months we had everything set, took out a small business loan, quit our jobs and haven't looked back. We even were able to secure a small contract that we started while we were still working.
In Business:
It was going great, we were working from home, bringing in enough business to make a decent living, and best of all doing it for ourselves. We were able to run things the way that we knew they should be done, no longer being restricted by managers that we felt had no clue. We secured another client and were getting a great response, even getting multiple referrals.
However it wasn't all a cakewalk. We knew that running a business would be difficult, but that and everything everyone ever tells you is an understatement. Working for someone else has its ups and downs, yes, but when its all for you, its a rollercoaster to say the least. When things are looking good, contracts are lining up, and the money doesn't look like it will stop, no one could knock the smile off your face. But when they're bad, watch out. When things are looking down, it's a huge blow to your confidence, it makes you wonder why you did this whole thing in the first place, it makes you feel more useless then you've ever felt. And its a cycle thats hard to break out of. Maybe you get used to this as you go along, and learn to let stuff go, but I've yet to get my skin that thick.
What I've learned
In my brief career of running a business, I've learned a few things through trial and error(mostly error).
- Ask for help - There are a lot of great people out there that have been where you are, and the best thing is that all they want to do is help you. The Small Business Association, is affiliated with one we've worked with called Score (http://www.score.org/).
- Hire professionals - Don't pretend to know how to do things that only a professional truly can. An accountant, a lawyer, a payroll service, a graphic designer, and anyone else you may need are all important. I know that they may seem expensive, but they are always worth it in the long run (errors in these areas are very costly). You should be doing the things that you know best, and running your business.
- You will messup, get used to it - Easier said than done, but try to keep it in mind. You will make mistakes, you will feel more stupid than you've ever felt, but remember that this is a learning experience.
