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some income to make that tax deduction worthwhile!)

And, as you'll see below, you're also going to need to hire an accountant, a lawyer, and a graphic designer. You'll have to pay taxes and various fees, and buy letterhead and business cards, many of which are relatively inexpensive, but they do add up.

Do you have enough cash reserves to keep you going for as long as it takes for you to get established? One rule of thumb says you should have at least enough money to last you for 90 days. I've never actually met anyone who met that rule, but it's a nice thing to shoot for.

In any case, you'll need some kind of a cushion to get you through the early days and the rough spots that will inevitably come. A second mortgage, a working spouse, maxing out credit cards, and liquidating life savings are some of the strategies small businesses have used. You might even consider trying for a business loan; generally they require security. In any event, don't leave your regular paycheck without some capital or a plan for paying the bills (and make sure your spouse is on board before you expect him/her to fill in the financial gaps!).

A final (expensive) priority: health insurance.

3. Can You Work in a Consulting Mode?

You may be very good at accomplishing tasks, completing projects, and just plain getting things done. But, as a business owner, you are likely to find yourself in situations that require you to be much more creative to delve into what is really going on and design custom solutions to problems your clients may not know they have.

For example, in my business marketing communications often clients have already settled on a solution before they even tell me the problem. "We need a brochure, a video, a website, etc." Sometimes, the best course is to simply do exactly what they want, if the client really knows (or at least, bull headedly insists) what they need. However, when you probe further and ask a lot of questions, it may turn out that a very different solution might be more appropriate. Above all, cultivate your ability to listen; you will need this skill to keep your clients happy (and coming back).

Sometimes, clients will want you to come up with a solution to a problem they don't fully understand. In any case, your ability to suggest alternatives, to think inside as well as outside the proverbial box, is all part of the added value you will bring to the table.

If you prefer just to carry out orders, then I suggest you don't quit your day job. You'll need a lot

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