"I Want to Go Into Business"

Planners Title (planner's focus):
Assisting a Client with a new business venture.

Personal Title (client focus):
"I'm going into business on my own."

Case background:
My client is a young female who came in and told me she would be leaving her current job soon, to begin a new business venture with a partner. She told me that since this new business was related to her current profession, that she felt she had more than enough experience. I cautioned her as to the possible difficulties involved with being self employed. We then weighed the pluses and the minuses, and finally, she decided she would like to further explore this opportunity.

What happened in the meeting:
I announced to her that she would no longer be receiving a paycheck once she goes into business.  There will be no pay until she begins to generate revenue and cover her overhead.  I placed a Bernie Book on the table to show her that we will need to determine how much money she needs to live each month and to plan properly for this event.

How did it turn out?:
Within about twenty minutes, we had a firm figure for her monthly expenses. This figure clearly showed her that she could, indeed, leave her current job now and begin her new business.

Notes to myself on the meeting:
I made ample notes and was able to see that my client would have adequate resources to carry her through the first twelve months of her new business venture.