Quit Your Job, Go Solo

How to succeed in business on your own.
6:14 | 12/08/11

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Transcript for Quit Your Job, Go Solo
Am Tory Johnson and is act work. If you want to quit your job I'm glad -- your own -- or -- pitfalls of being your own box Jean's seen as the CEO of Ngo partners and he's here at some sold some violence it's eighteen. Eight. -- -- of talent -- get rid in the box what do we need to do first. Well there's five -- steps the first one is. Assuming you have your plan because -- ready decided to do this used need to do your research and -- research I am not talking about ideas the you know you ready have your ideas it's really more about flushing out and refining your plan. So the best thing to do is find a couple of people. Preferably people that are not in your company that you respect and our mentors and get them to give you some feedback and get them to challenge you about what it is that your about you. And he really great if these people are already independent consultants or independent professionals. Or if there owners of small business or if -- advisors. You know. Successful entrepreneur or is a successful independent consultants and really great perspectives to -- and in -- talking. They should know what they're talking about what really what you want is want you wanna tester plan you don't want to ask them for their permission. Because one of the most valuable characteristic so successful independent professional is that determination. Of wanting to do what you need to do and it's a series of iterations and you know close approximation so all you wanna do is refine your planned what you don't -- you. Get anyone's permission if you've -- decide to do it you're gonna do it if you don't want to lose that motivation. You're ready to go out and you say -- that -- you need to pull that trigger that exiting gracefully is very important. Yet don't burn your bridges you know this is something that people don't really think about when they're about to exit there current employment arrangement. And you need to realize is. Most consultants and independent professionals and entrepreneurs. Start your business through some kind of relationship or even with the company that they just -- formerly employed by. And what you want to make sure is as you're exiting you know that conversation. If you're changing your relationship from employee. To employee -- To service provider to prospective client and you want to make sure you're an alumni you don't want any drama when you leave you want to make sure. Leave on good terms and keep those connections because those are going to be very much. I -- so all of doesn't mean alone there's a distinct difference there so explain that to us. Well when your in independent consultant independent professional. You are -- Cook bottle washer CF OC -- -- -- CMO. Turning. And you have a lot to deal with. So you want to focus on what it is that you disaster craft your expertise or knowledge and you wanna build it could support structure to go -- -- you that. Credential that you need to go out and be a productive business and you know fortunately. Many companies to day. Are realizing that this independent contractor talent pool is really important. And putting in some good tools in place -- companies like -- that really become a more consultant friendly environment for engaging as -- -- present themselves because it's pretty hard. Four you know individuals to be a one person shop and -- all the compliance and and bureaucracy that's needed to to really be in business today. There's other support services that are all around you available to help. If you are working in the same sealed as your former employer. Are there any non compete issues that you want to consider you know what's important if you are you know leaving and potentially taking clients are one of the considerations there. Yeah this is seventeen -- to address head on. Don't try to put your head in the sand or try to avoid it find out did I sign a non compete. And address it with your you know your employer as your as your departing. Most non competes are generally. Either -- -- they're really narrow and how they are they are enforceable. If you don't address it up front what you don't wanna do is being a situation where you have to litigated or defend yourself as to what you're doing that could really damage your business that could really. Burst your bubble if you will so a dress that up front be clear make sure you tell you tell your employer. You know you're not gonna go after their clients and you're not gonna steal their employees tell them what you gonna do let -- be part of the process. And then they'll feel less inclined have to question -- or try to interfere with what is it gonna -- storm. And lastly and perhaps most importantly you say. We've got a network like -- has now time to bring in the clients. -- nurture that network you know. Statistically. Hear your best source of new business is going to be your professional network. And of course there's so many tools today in the social media social networking blogging that you could do to. You know reach out and nurture that network. But never never sacrifice. That you know let's do coffee let's do lunch. Find no special relationships that you think will help you. Know most people today really embrace an entrepreneurial pursuits. And they would like to help you and don't be ashamed of that tell them what you're doing. Find out the people that can help you and you don't go ask them for it you know how you could help them out showed them. What is that your knowledge and expertise this and and see what you could you do help the mountain. You know if you're new consultant a lot of people think that -- I'm new at this of their four I don't have the credentials that's not true tell people -- -- -- -- -- looking to build good references. And just go out there and give them a good -- and get started. It is all about -- doing it in and making it happen and then don't analyze and and has. Yes there's a lot of grace and asking for -- -- pick -- the sun sent up that -- I. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- --

This transcript has been automatically generated and may not be 100% accurate.

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