The Australian Small Business Blog

Friday, June 11, 2010

Business Start-up Story - Part 1


To Be or Not to Be? That was the question a client of the Australian Business Coaching Club was asking me last year. Alan (not his real name), wanted to know should he leave his job to start his business, or continue working 40 hours, and try to start-up his business in his spare time.


Alan had been a client for a number of months while he was creating his plan, developing his marketing strategy, he even created a pretty good website – but was concerned about leaving the comfort zone of his 9-5 job. He was quite passionate about having his own business, and did not want to leave it until it was too late in his career.

Obviously there was a risk in losing the income if he left his secure, long term job. We discussed how difficult it would be for him to meet potential clients while working 9-5, and the fact that his boss would not be to happy if he was trying to set up a business in his employers time. We talked about working only 3 days a week for someone else and having two clear days to build his business to the point he could quit his job.

Alan was torn about this decision and the uncertainty that lay on the path to building a new business. That is, until he lost his job at the beginning of this year.

Now, this could have been a crisis. The Chinese symbol for crisis, is also the symbol for opportunity. Alan saw it was an opportunity. The decision was made for him! He did consider looking for another job, but because of his passion, and the time he had already spent in developing his business strategy, looking for another job would almost be an admission of failure for his dream of owning his own business.

Alan decided to give his new business idea a year to work. I said to him, if he made the commitment and put in the work, he would know by the end of the year, whether his concept would be viable. I also said, if he followed the strategies we discussed together, I could see no reason why it would not be viable. I also said up front, it would be tougher than he thought, but if he was successful, the rewards would be there for him.

My role during this stage was to mentor him, and provide advice and support in the inevitable difficult times ahead.

It is now a number of months since Alan made this decision, and he has just had his first major success.

In the next part of this series, I will let you know more about Alan’s journey to this point.

Find out how you can get the right start to your business. No-one wants to look like a start-up when they start-up as they know, no-one wants to be your first customer.



May Your Business Be - As You Plan It.





Over to You. What do You Think? Post Your Comments Below.

Dr Greg Chapman is the Director of Empower Business Solutions and The Australian Business Coaching Club and is Australia's Leading Advisor on Emerging Businesses and provides Coaching and Consulting advice to Australian Small Business Owners in Marketing & Business Strategies Planning & Systems. He is also the author of The Five Pillars of Guaranteed Business Success.

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