20 Things I Learned Since Leaving My First Job
As some of you reading this post know, I recently left my first professional job at the Pittsburgh Technology Council. I was there five years, and thoroughly enjoyed my time at the organization. In fact, I was an intern with the Council before they hired me on full time back in 2002. They took a chance on me which I will be forever grateful for.
Since leaving, I am beginning to live my goal of being self-employed. My first and well only client is EduLink Inc. I am doing business development work for them; working with school districts, colleges, and municipalities. We offer them database management solutions.
Now that I have officially been self-employed for a whole two weeks I thought I would share with you what I have learned so far.
1. Businesses pay way too many TAXES!
2. Health insurance is expensive no matter which plan you chose. Be grateful to your employer if they pick up a large portion of the monthly premium. To match the health care coverage I left behind at the Council would cost close to $1,000 per month!!! (By the way, government health care is not the answer either.)
3. The freedom to work with multiple companies at one time is liberating.
4. Any new business I land for EduLink or in other ventures will happen as a result of NETWORKING not cold calling or cold-emailing.
5. Office supplies are taken for granted at every corporation. Ironically enough staples, tape, paper clips, post it notes, and pens do not grow in cubicles. Someone had to actually order those items for businesses to use. Weird huh?
6. IT professionals within corporations are grossly unappreciated. When you are your own tech support you will quickly realize this.
7. Macs really can be used as a business computer, much to the chagrin of every Microsoft-centric IT professional in the world!
8. Self-motivation only happens when you love what you do.
9. It takes time to start anything new.
10. Nothing happens over night, even in the private sector.
11. Someone can make the switch from the non-profit or government sector to the private sector and succeed.
12. Your parents / spouse / siblings / friends will always be cautious when you leave a “safe and secure” job to step out into the great unknown of entrepreneurship. Mainly because they care about you and don’t want to see you fail.
13. People are jealous of people who succeed.
14. You really can invest without a 401K or pension.
15. IKEA is a great place for office furniture.
16. LegalZoom.com makes forming a corporation very easy.
17. Your accountant will be your new best friend and maybe even your lawyer…. nah, on second thought, let’s just stick with your accountant.
18. Business expenses are far reaching – another reason why your accountant will be your best friend.
19. The greater the risk the greater the reward – thanks Richard David
20. Not all technology entrepreneurs get out of bed at noon and work until midnight.
I am sure there is more items I could add to this list but this is good for now. If you have taken the plunge into self-employment or entrepreneurship drop me an email; justin at justindriscoll.net
One Comment, Comment or Ping
reinkefj
Having been in my own business three times, I’d suggest that you have a “formal” process for documenting expenses. Just like any big corporation, capture expenses on a form. It really doesn’t matter what form you use, as long as you use A form, and use it consistently. Even if the accountant throws some out, it doesn’t matter. You’ll have captured ALL the expenses, and the backup like receipts. I could have done better if I had done that in a consistent and regular basis. The result of NOT doing it is that you give the tax collector more than you should. And, when you’re fighting for pennies, you can’t afford to give any away frivolously.
Jan 3rd, 2008
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