It's a scene that's been played out all over America in the past few years: companies handing out severance checks, often to their most highly paid, experienced employees. For some laid-off workers, it becomes the push into entrepreneurship they've needed -- maybe even wanted. Those severance checks can be used as seed money, funding everything from one-person consulting shops to retail franchises. Here, four tips to help you launch your dream business, while minimizing the risk to that sudden stash of cash.
No. 1: Don't leap before you look.
More than anything else, severance provides money to live on while you answer basic questions for your business plan: What will it cost start? What will revenues be? Who is your customer and how will you reach him? When will you pay yourself a salary?
To read the full, original article click on this link: When Severance is Your Seed Money | Reuters
Author: Eileen P. Gunn
