One of the biggest decisions would-be entrepreneurs face is whether or not to leave to safety and security of a good W-2 paying job for the risk and uncertainty of self employment.   Starting a business, however, doesn't have to be an all or nothing decision.

While it would be ideal to dedicate 100% of one's time to a startup, reality may dictate that the new venture be a part time engagement.  Setting aside a few hours of time in the early mornings or the evenings, and a few larger blocks of time on the weekend can get things moving forward quickly.  In addition, building a team of professionals (lawyers, accountants, consultants, etc) can help move things along while you are still working full time.

Time and money are typically the biggest barriers to starting a venture, and a successful entrepreneur will be prepared to invest both to get his/her venture off the ground.  While we all would love to start a business with no money, in reality, planning, funding, a marketing a new venture is going to require some capital and time.

Another large obstacle many employed entrepreneurs face is giving up their benefits.  Employers would certainly like you to think so.  But, really, how much does it cost to purchase these same benefits on your own?  Check around to some health insurance providers and you may be surprised how little comprehensive coverage costs. $100-500/mo is usually enough to cover most people's health insurance needs, depending on your age and the size of your family.  And, there are many tax advantages for the self-employed in terms of insurance and retirement benefits.  Consult with a small business accountant about putting together a mirrored package of your current benefits and you will likely be pleasantly surpirsed.

Whether your ready to dive in and dedicate 100% of your time or you are planning to wade into your venture part time while still employed, making excuses for not starting now will only lead to regret later. Don't be one of those people who late in life laments "why didn't I take a chance?".  With the proper guidance and planning, the risks of starting your venture can be mitigated.

Just do it!

Todd Smith, Managing Director

Blue Horizon Venture Consulting

www.BlueHorizonVC.com

904-372-9222