After much thought and feedback I decided to change the name of my company from Focused Fool Inc. to Rapid Success Coaching Inc.

I believe the new name states clearly what the company is all about.

Visit the new site at www.rapidsuccesscoach.com to find out more.

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.