Develop a Focused Mission Statement:
Take plenty of thoughtful time to write down exactly what you intend to offer in your business. While putting your mission statement on paper, narrow your objectives toward what you do best. Avoid falling into the trap of offering too much and casting your net too wide.

We spoke with one woman who had saved for years to buy a little café. Upon leaving her long-time career, she opened her café and quickly became known for having the best chiliburger in New Mexico. Initially, business was booming and she was thrilled as it appeared that her café would be a success. However, her menu was six pages long and offered a wide variety. She found it nearly impossible to keep all the appropriate ingredients stocked in order to accommodate her menu. She often had to tell the customers a particular menu item wasn’t available. Before long, her clientele started to shrink and six months later, she closed the business.

Another woman left a long-standing career in health care to open a music studio. In her attempt to maintain the salary she had become accustomed to, she offered lessons in two different locations, as well as in the students’ homes. She started with three students and within three months, she had more than 75 students. However, after 18 months of 14- to 16- hour days, she decided to return to her hospital job because she was exhausted.

These stories apply to all types of businesses. We can easily fall into the trap of attempting to please everyone, and as a result, spread ourselves too thin. One successful freelance medical writer that I spoke to said, “When I first started my business, I was so tempted to take on writing assignments that were beyond my expertise, and were outside the scope of my mission statement. It was hard, but I said ‘no’ because I didn’t want to risk getting a reputation for doing poor work, or for taking too long on assignments. I had to keep reading my mission statement and focus on the type of writing I wanted to specialize in. It has really paid off. I’m now known in the medical writing industry as a reliable, efficient writer and my clients call me for jobs, so I rarely have to look for work.” So keep your mission statement focused on what you want to offer and highlight what you do best. Even if it takes time to build your clientele, be realistic about what you can do.

Transition Slowly:
While it’s not always possible to do this, if you can ease into your business you can learn about all of the aspects of the industry while maintaining your current job. Of the women I talked to, it was about a 50/50 split between those who were able to ease into their new business and those who had to “just go for it.” One woman I inter viewed who left a career that offered a huge salary with many handsome “perks” decided to open a business that would likely pay a fraction of what she was used to making.

So, before taking the final leap, she decided to “try it on first, to make sure it fit.” She sat down and prepared a real-life budget with her anticipated new salary and compared it to her current expenses. It wasn’t a surprise when she came up in the red. So, while continuing to earn her present salary, she began “pretending” she earned what the new career would likely offer and started shifting her thinking where money was concerned. She made both small and large scale changes in her daily financial decisions, always keeping in mind that this would be her lifestyle if she made the final decision to leave her present career. She started packing her lunch instead of eating out every day. She broke the long-time cycle of buying a new car every four years and set up an auto maintenance fund rather than making car payments. And, finally, she made the hardest decision and sold her home of more than 20 years. She put that money into a smaller home. She was surprised at how easy it was to make the daily financial changes. She had always wanted to “buy the newest shiny thing” but when she weighed the option of a less stressful but more fulfilling career, that new shiny thing didn’t look so appealing after all.

Don’t Leave Your Job Until You Are Ready:
Some of the women I talked to worked toward their goal of business ownership for nearly two years prior to stepping off that ledge. One woman said, “You’ve got to muster up the guts to take the leap, but do your best to devise a parachute so that you land on your feet.” If possible, they advise you to have enough cash to live on for up to two years so you can maintain your focus on building your business rather than being preoccupied about how to pay the mortgage.

Put Together a Sound Business Plan:
Whether you intend to borrow money to start your business or not, a realistic business plan includes revenue and expense projections, marketing strategies, and every possible contingency plan you can think of. Do your research and understand the market in which you are about to embark. Prepare for the move into business ownership by paying off debt, building a nest egg for added security, and doing your homework so you thoroughly understand what you’re getting into. Then put it all together and write your business plan.

Don’t Get Stuck in Analysis Paralysis:
Once you’ve got it all in place, it’s time to just do it! I talked to some women who became afraid as they got closer to the final stage of leaving their jobs, but once they finally decided to take the big jump, they all said their only regret was that they didn’t do it sooner. Try not to overthink what you’re doing, because you may end up talking yourself out of it.

Be Professional When You Leave Your Job:
Perhaps you haven’t been all that happy working for your current employer or you’ve had problems with co-workers. While it can be tempting to speak your mind and leave your job in a huff—don’t! Give your employer appropriate notice regarding your exit and be positive and upbeat about your work experience with them. One business owner that I talked to said she was so angry and burned out as she was preparing to leave her job that she nearly “gave them a piece of her mind” on her last day. Fortunately, she was able to curb her upset and succeeded in maintaining good relations with the company. As a result, they have become one of her best customers. And now that she’s in a “happier place” working for herself, she has difficulty remembering what she was so angry about when she worked for them.

We all have bad days at work with thoughts of throwing in the towel and walking away. We often consider how much better we could run the company and criticize the decisions that are made. While dreaming about owning your own business, be realistic—it is hard work and being realistic is important to your success. So, you have to ask yourself, “How badly do I want this?” And, if you really want it, then make it happen!

First and foremost, develop the exit strategy that will work for you and on your last day as an employee, walk away and don’t look back. Look forward to what lies ahead—you have just given yourself the opportunity to be in control of your future. Design a career that is tailored just for you, based on your own values and a lifestyle that suits you.

Renita Freeman, MA, CCRP, is a freelance writer with more than 20 years of experience in healthcare quality improvement and medical research. She enjoys writing human-interest stories, showcasing people who are making a positive difference. She also writes articles that focus on health and safety issues in the medical field.