One of the biggest mistakes that people make when starting a new business of any kind is not leaving themselves enough security - Or, in other words. DON'T QUIT YOUR DAY JOB.
No new business of any kind comes with guaranteed income. No matter how much a slick salesman tries to promise you instant success, it likely will not happen. Businesses are like jobs - they require work, and a lot of it.
When I started my Medical Billing Service, I did it part time in the evenings, after I got home from work. I started out marketing, and got a couple of small clients to get started. But I didn't stop there. I kept working my job while I built the business up to a level where I could quit. I would recommend the step approach. Go down to part-time at first. Build it up slowly, especially if you are the main bread-winner of the household, or if you are the one that carries benefits. Sure, you can buy your own private health insurance, but it is expensive and could eat up all of your profits at a time when you can't really afford it.
Make yourself a business plan.
In 3 months I want to be.....
In 6 months I want to be...
In 1 year I want to be...
In 5 years I want to be....
Follow your plan as closely as you can, and adjust the rest of your life around that. This is the easiest and best way to prevent you giving up on your dreams, and throwing your family into financial turmoil.
Until next time:
Have this blog delivered straight to your Kindle!
Reach me on Twitter @LorettaLea
Author, Medical Billing, Coding, and Reimbursement
A medical billing professional for over 30 years now, I have seen a lot of changes in this field, and there are a lot more on the horizon. Follow me as we see what they mean and for who.