What are the most important things would-be entrepreneurs need to do before they quit their day jobs?
* Make sure your financial house is in order. Be certain you have enough money in the bank. A conservative estimate is 6 months living expenses, and that doesn’t include start-up capital. Also, make sure your personal credit record is strong. Pay off your debts, or at least as many as you can. * Do your homework. Be sure you’ve researched your product or service idea, tested it through an informal focus group, and that a market for it exists. * Have a plan. While enthusiasm will carry you far, don’t expect it to take the place of sound business practices. There are many self-help business, legal and financial books on the market that can take you step-by-step through the process. * Moonlight first. Have the best of both worlds by trying your idea in your spare time while still working at your regular job. This allows you to test your business idea safely, while you still have an income. * Strategize the transition. Think through all of the personal and professional support services you
