I’ve finally received the details of the package.

So … this week has been about understanding the financial aspects of taking the leap.

There’s lots of information to go through and many things to consider …

• Understand the various severance options
• Review details with a lawyer
• Tax implications from an accountant
• Continuation of benefits / insurance coverage
• Etc …

I’ve been planning these activities the past few weeks so basically it’s meeting with a lot of people and going through the details to understand my options.

I know that I will be taking the leap … it’s at the point of mitigating the risks.

The two main risks that I see are:

1. having enough of a cushion (cash) to live on while I build a sustainable business
2. ensuring my family is taken care of if something happens (insurance / benefits)

I know that I will succeed with the business … It’s just that I want to have enough detailed information so that I can make the proper decisions now … that will carry me forward.

What’s the worse thing that can happen?

As long as I make sure that we have proper insurance coverage … in case something tragic happens … the worse thing that can happen is … the business doesn’t make any money … in 12 months I dust off my resume … and get another job as an IT manager.

If I make the right call now … I might be able to stretch out the cushion an additional 2 or 3 months.

If I make the wrong call … I may only have about 10 months (this could even be less as I continue to create even more ‘worse case’ scenarios).

Perhaps I’m getting to caught up in the details … I always feel more comfortable having all the information … all the possible scenarios figured out … before making a decision.

I know as an Entrepreneur I will need to get comfortable with making decisions without having all the information … but I know my success will be determined by how much prep I do in the beginning … so that I can start on the right foot.

This weekend I’m going to be running the numbers through the various scenarios.

This will satisfy my need for information / planning ahead / reduce risk and banish the worse case scenarios from my mind.

I will then be able to focus my undivided attention to building the business.

This entry was posted on Thursday, April 13th, 2006 at 9:22 pm and is filed under Feedback, Intuition, Choice.

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