Cutting off the safety net and followig my dream

Apparently, a lot of great companies were started at times of economic slowdown or recession. And the current economic recession is bound to give birth for numerous companies and a few great ones.

It is during these recession times, when job cuts are at all time highs and unemployment rates soar to record numbers, people tend to finally unleash the burning desire that they had for striking it on their own, finally get to put their dreams to work. It is during these times that the so called job security keeps getting pulled under the employees feet that they realize the myth of the job security and the risk of living pay check to pay check. Trust me, I am talking through experience.

When the so called job security kept becoming a distant dream and every day at work started to become another day to keep your job and the division from becoming a statistic in a lay-offs number I decided it was time to re-kindle the entrepreneur in me. Actually it was more of a necessity of the situation, but rather than becoming a hunter for a job, I decided it was time that I finally tried to make my ideas work, and create a company that I would like to get up and work for every day, gives the freedom for the employees creativity and talents to be unleashed, gives the kind of flexibility that I yearned for to work where I want and when I want.

Taking a serious look at the kind of questions that were raised in my previous post, this time I rallied in two business partners that complements my skills as well as gives me the required support. First I got my significant other also involved, initially in the capacity of a director. The fact that she agreed to become a part of my venture signifies that she is also serious about the success of the venture and would give me the required support and the understanding in the face of all the time and leisure sacrifices that I may have to do in building this business up.

As I am more of a techie and an introvert I needed someone that was more of an extrovert and an experienced seller. For this I enlisted a professional marketeer and a seller and my longest standing friend; my brother. This should be a nice compliment in the areas that I am not strong in. He has a MBA and has a better understanding of running and building businesses.

I will continue to look for freelancing work until the business comes to a better standing where I can rely completely on the business. I know oDesk can also be a good platform to look for new business opportunities, but for the time being I am going to keep oDesk as an avenue to look for freelancing work and to rely on more traditional avenues to build the client portfolio of my new company. I have already landed a project through a networking contact even before the company registrations came through.

I am looking at freelancing as a way of bankrolling my new company. This way I am easing the pressure on the company to build its product portfolio and become profitable, as freelancing supplements my income. On the other hand the company will provide an entity for my clients to deal with when they want to deal with a business entity rather than an individual. Ironically the same sentiment is also explored at the FreelanceSwitch and they have termed it as "Netsetting".

The negative side of this is as the company is essentially going to be a one man development team in the near future it is going to eat into the time that I will be left to develop the companies product line. But in the near future I am planning to expand the company into an eco system of freelance experts so the product development will not be limited to my efforts alone.

So, it is the last week where I will be working for another for a salary. Some April I am joining the wonderful world of freelancers and entrepreneurs!