Transitioning from employee to entrepreneur

L eaving a job at a large corporation to start an LLC can be a scary decision. But many have found greater happiness by running their own businesses. Pamela Slim, author of Escape From Cubicle Nation: From Corporate Prisoner to Thriving Entrepreneur, offers advice on how to make the transition.

In an interview with Entrepreneur magazine, Slim encourages entrepreneurs who are fearful to assess what specifically they are afraid of. If they are uncertain about their business plan or unsure whether their market will be successful, they can address those tangible issues.

Slim interviewed Laurie Gay, a lawyer turned nutrition coach, for her blog "Escape From Cubicle Nation," which inspired the book. Gay admits to being afraid of everything when she decided to quit her job. To cope, she wrote a detailed plan about what she would do if her startup failed and found examples of people who were successful after making the same decision.

Gay began her coaching sessions as a side business while still working at a law firm. If possible, Slim recommends finalizing a business plan before quitting a job, because it is helpful to begin selling products while having steady cash flow.