Financial Support for your business?

Financial Support for your business?

My recent research showed that the number one concern for women thinking of leaving their jobs to start their own business is money. Will they make the same level of income as they have now, less, or even more? It’s not only the amount of money but also the uncertainty about how regular and reliable the income will be. These fears delay their departure. If you are thinking of ‘crossing over’ ensure you have at least 8 months of savings to fall back on incase your business does not go according to plan. Having enough savings to cover 8 months of living expenses means that you can keep working to bring your business idea to life and not worry about how you will pay the mortgage this month. Create a household budget and stick to it. Assess where you can cut your expenses as you are starting up your business. Create this budget while you are still working and live by it. In this way when you make the move from employment to your business, your lifestyle and spending patterns will not have to be another factor you need to adjust. You will have done the work already. Feeling confident about business financials and how the numbers work before you leave your job will make a huge difference to how you create and run your business. Understanding the finances of the business is critical, and if you don’t know the difference between a profit and loss statement and cash flow – get help now! Instead of shying away from the numbers, you will embrace them and understand how the...
What business support do you need?

What business support do you need?

I have been so fortunate in the past few weeks to speak to over 30 Corporate Crossovers. These women have taken their valuable time and shared their story with me. I have heard all about their transition from corporate employee to business owner. Why they left and how it has been for them since. This is all for my new book coming out soon! The key theme that keeps on coming through from them, and the 300 Corporate Crossovers I surveyed earlier this year is the need for support. Support for them as they go through that transition from being a corporate employee in that framework to launching out on their own. Support as they grapple with the multitude of things that need to happen to get the business from concept to reality. Support as they learn to sell themselves, their ideas to new markets. And as they learn to value themselves and their time and put a price on it. And business support as they realize that maybe the actual performance of their business is different from their business plan. And support when it gets tough, when they’re tired from the long hours, feeling fragile from rejection and yet still persevere because they are so passionate about their idea and determined to make it a success. If these statements resonate with you – where are you getting your support from? The women I have spoken to find support from: partners and family close friends other business owners mentors coaches some networking groups (not all…so check carefully) b0oks and courses As we are all so individual, I urge you to...
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