Passion and Money Key to Starting One's Own Business

June 11, 2007 — -- Even the most dedicated employees can find themselves disillusioned with corporate America. If you're one of them, it may be time for you to bid your cubicle goodbye and make the jump into the rich green pastures of your own business.

But before you pack up your snowglobe collection and tell your boss how you really feel about him, take some time to consider the bigger picture.

You may have the ambition and passion to be your own boss, but that isn't always enough to make the transition from employee to entrepreneur.

Working from home doesn't necessarily have to mean working for yourself. You may simply want to talk to your boss about working out an arrangement that lets you keep your job but conduct business from home.

"If it's not [possible] or your employer's not interested in having you do it, then starting your own business is definitely a possibility," explained Tory Johnson, workplace contributor for "Good Morning America" and CEO of WomenForHire.com.

According to Johnson, one of the most important things you can do to prepare to leave your current job and work from home is to thoroughly explore your financial resources.

Ask yourself a few questions:

"Really work on a budget," she said. "Not necessarily an in depth business plan ... but just figuring out how much money it's going to cost."

So you've got the money, but do you have the know-how?

"Many times we have a great idea but we don't necessarily have the skills, knowledge or abilities to execute it," Johnson explained. "Think about any additional education or training that you might need."