Starting a New Business: Ready for the Second Act

Startup Sunday

 

For whatever reason, the number two has always figured in my life. You know, I was born on the 22nd. I'm the mother of twins. Goofy stuff like that. Well, as it's turned out, it's taken me just about two years to figure out what new direction my life should take.

My second act, if you will.

Now don't get me wrong. I haven't been just sitting around, mulling, all of this time. You know, that twins thing.

Indeed, my daughters were a major reason I had stepped away from my job as a features editor at a large daily newspaper, two -- yeah, there it is again -- years ago. Since then, I've been taking all the energy and brainpower that I once deployed running a department and turning it instead into swim lessons and field trips, homework and art projects, new "mom" friends and important milestones.

Still, my four year olds are now six. They're reading, dressing themselves, telling silly jokes and then cracking themselves up. At school, they were each named Citizen of the Month -- one for January and the other March.

They are moving forward nicely -- so should I.

Which takes us back to two.

I'd once read that it takes about two years to fully get over a loss, to mourn, to let go. And I guess that -- somewhere during the mad scramble to find our jackets and get to school on time; between good, hearty breakfasts and sleepy bedtime stories; rambunctious playdates and vowing never, ever, to return to a Chuck E. Cheese's again -- I had done it.

I had mentally, emotionally, finally, said goodbye. 

Goodbye to the "power" and the authority. Goodbye to the -- gulp -- nice salary. Goodbye to some very smart, talented people with whom I may never work side by side again.

Goodbye to all that.

Thus, I hadn't just been thinking about moving forward, I had moved. So much so that I recently plunged into something I never would have imagined.

I started my own small business.

Scary? A little. I've worked at newspapers for 25 years. It's what I've wanted to do since junior high, and I was good at it. But the thought of going back to it full-time -- well, to anything full-time -- is just not an option for me right now. I like being there when my girls get home.

Of course, I'll still be using the skills for which I've studied and trained -- writing, editing and social media -- only this time, it'll be on my own terms and with a focus on working with small businesses and nonprofit organizations. And in the process, maybe bring about some positive change.                                                                                                                                                       

So, goodbye to working for a boss other than myself. Goodbye to rushing home late while making up excuses to appease the nanny. Goodbye -- no, good riddance! -- to mind-boggling office drama.

 

Hello, new opportunity.

 

In fact, I'll take two.

 

Image by Paul-in-London via Flickr

Comments

[Frank Fitton]

One of the problems with starting up a business is that it’s extremely difficult to predict all the expenses that will occur. It often seems like things just come up one after another. I’d be hard pressed to find anyone that started a business that ended up paying less money than they had estimated.

That’s one of the advantages to going out and buying a mature profitable small to midsize business. You will know exactly what you’re getting into. No surprises make for a very easy transitional takeover.

Starting a business in this economy is not the way to go. There are plenty of profitable winner businesses out there selling as we speak for far less then their really worth. Now is the time for people who want the most out of life to grasp on and take the plunge.

I think a key idea to remember when buying a business is to try and buy a winner. I know its tempting to buy a loser business and turn it around, but I don’t think it’s the financially sound way to operate. Purchase a mature profitable small business and you’ll have cash flow right from day one.

I’d also recommend not straying out of your field of expertise. A person that has been an executive of a produce company for 15 years has no business buying a water park. Stick to what you know.

Buying a business very well could be the most important decision you ever make in your life. You have to make sure you buy the right business the right way.

[barbara oconnor]

sometimes act 2 is better and more fun than act 1. I am excited for you. We will re invent ourselves together. You are very talented and the service you offer is one that is really needed. You don't need to buy a business, you are one. Best of luck.
Barbara O'Connor