Rhonda Abrams The Passionate Entrepreneur

But before you plunge ahead into self-employment, follow a few careful strategies to improve your chances of success.

I laid out some of those tips in yesterday's column; here are a few more pre-start-up ideas:

• Line up customers before you quit your day job.

  You'll feel more secure if you line up at least a few clients before you officially "open" your doors. Market your products or services in your off-hours to secure accounts before you leave your current employer.
  

• Develop a business plan.

  One of the most important steps before you launch any business is creating a business plan. The business planning process gives you a chance to do your research, learn about your competition and target market, and devise strategies for success. You can develop a thorough business plan for your future business while you're still employed in your current job.
  

• Find a niche.

  Look for a way to distinguish your new business from the competition by choosing a specialty.

  Let's say you want to start a bookkeeping service. You'll be competing against every other bookkeeper out there. But if you specialize in bookkeeping services for retail stores, for example, you've got a clear focus for your marketing efforts and a competitive edge when you approach prospective retail clients.
  

• Get a job in the type of business you want to start.

  One of my favorite sayings is "learn on someone else's nickel." If you want to start a business in a field that's new to you, why not get paid while you learn the basics? Go to work in a restaurant before you launch your own if you've never worked in a restaurant before.
  

• Take over business activities your current employer no longer wants.

  Big businesses need big customers and big revenue streams. Many large companies stop serving smaller markets or drop entire business lines, opening up opportunities for you.

  For instance, when Proctor & Gamble announced it no longer wanted to make Oxydol, two P&G middle managers bought the brand and built a successful new company.
  

• Be careful.

  Every day, I see infomercials touting get-rich-quick schemes. And once you tell others that you'd like to start your own business, you'll be pounced on by acquaintances wanting to recruit you to join their multilevel marketing programs.

  Be very cautious. These tantalizing promises of financial independence usually just end up costing you money.

Finally, don't get discouraged! Success may not come overnight, but it can come. With good planning, hard work, and the willingness to take a risk, it's possible to live your entrepreneurial dreams.