The Herald Bulletin

Morning Update

Columns

September 27, 2013

'Big Joe' Clark: Hanging your shingle and starting your own company

Cleaning out the garage or old storage rooms can bring up forgotten memories and emotions. Our team recently found pictures from the very beginning of my career in the financial services industry. This week marks 25 years from the day that I left corporate America and started out as a young entrepreneur. Though I wouldn't have it any other way, let me use this article to give you some things that I might have done a little differently knowing what I do today.

The first is one I certainly would not change: Be passionate about what you’re doing, know why you want to do it and know where you want to wind up. In all fairness, I had no "Plan B" when I began. Notice I said, "know where you want to wind up," and that is very different than "knowing all the roads you will travel along the way to get there."

I have seen very detailed business plans never make it out the door, thus accomplishing nothing. I prefer seeing young people have an outline that covers the purpose and rationale for what they are trying to accomplish. Outline your skills and those that are necessary to complete the task. List your financial assets and what is required to meet the objectives. Spell out your timeline to the best of your ability. Think who, what, why, when, where and how and make sure you can discuss it because now comes the hard part.

Find five people you know and respect and who are willing to listen. They don't have to be the best business people, but they do have to be able to challenge you for all you are worth. Tell them your ideas and let them tear them apart. This may seem tough but it will be nowhere near as tough as building your business.

Text Only
Columns
Featured Ads
More Resources from The Herald Bulletin
AP Video
Fighting Blocks Access to Ukraine Crash Site Dangerous Bacteria Kills One in Florida Workers Dig for Survivors After India Landslide Texas Scientists Study Ebola Virus Smartphone Powered Paper Plane Debuts at Airshow Southern Accent Reduction Class Cancelled in TN Raw: Deadly Landslide Hits Indian Village Obama Chides House GOP for Pursuing Lawsuit New Bill Aims to Curb Sexual Assault on Campus Russia Counts Cost of New US, EU Sanctions 3Doodler Bring 3-D Printing to Your Hand Six PA Cops Indicted for Robbing Drug Dealers Britain Testing Driverless Cars on Roadways Raw: Thousands Flocking to German Crop Circle At Least 20 Chikungunya Cases in New Jersey Raw: Obama Eats Ribs in Kansas City In Virginia, the Rise of a New Space Coast Raw: Otters Enjoy Water Slides at Japan Zoo NCAA Settles Head-injury Suit, Will Change Rules Raw: Amphibious Landing Practice in Hawaii
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Helium debate
Helium
Front page
Poll

Do you think school is starting too early?

Yes, it shouldn't start until after Labor Day.
Yes, it shouldn't start for another week or so.
No, it's about right.
Not sure.
     View Results