Know your self employment options
Transitioning from an existing role presents many options and it can be difficult to decide which path to choose. Today, it is becoming increasingly commonplace for individuals to contemplate a midlife career change and start a business in their area of expertise as an alternative to employment in the corporate world.
One thing that adds tremendous value when starting a business is: advice from people who know. Careful assessment of a business idea and advice from an experienced consultant can mean the difference between a thriving enterprise and folding in 12 months time.
There are a variety of self employment options, including:
- becoming a consultant
- buying a franchise
- buying an existing business
- starting your own business
Deciding on the best option requires working through a disciplined process to determine which options are viable. Lee Hecht Harrison offers support to those on the road to entrepreneurship, providing help with:
- determining the appropriate path
- defining a target market and outlining a business strategy
- assessing whether a business idea aligns with skills and interests
- identifying the biggest challenges, evaluating risks and establishing sound financial and support structures
- developing a business plan to provide direction for the future
LHH also provide access to online resources with information on financing, business structures, developing business plans and establishing connections with current and former ‘entrepreneurial’ clients