Think hard before starting your own company

Computerworld - "I've always dreamed of starting my own business."

"I'm tired of working for someone else."

As mentors for women in the IT field, we often hear these comments from proteges who are tempted to start their own companies. But many of these women become overwhelmed by all the unknowns in creating their own businesses. Starting your own firm is like being one of the first passengers on a transatlantic flight. Will you make it across? What will you do if the plane goes down?

Before you move from your secure position at an established company to start your own business, it's important to evaluate the environment that your current employer offers and assess whether you really can go it alone.

Support Structure

A large company: Established companies have bureaucracies in varying degrees. But while bureaucracy can be viewed as an impediment to getting things done, the structure a large organization provides can also present an enormous advantage. When you tackle a new project or launch a program in a large company, a support structure is typically in place that fills all the marketing, finance and legal roles -- areas in which you may lack expertise.

Your own company: You're not just an IT consultant. You're the sales representative, Web designer, accountant and HR person rolled into one. Be prepared to be an expert in your own field and well versed in the operations of a company. The transition from the singular responsibility of a job at a company to being the company will seem unsettling at first. Take the time to become accustomed to accepting full responsibility for everything that happens.

Mary Ann Wagner and Marguerete Luter are frequent contributors to Computerworld.com and co-chair Women in Technology's Mentor-Protege Program. Alexandria, Va.-based Women in Technology is a not-for-profit organization dedicated to offering women involved in all levels of the technology industry a wide range of professional development and networking opportunities. Wagner is president and founder of XIO Strategies, and Luter is vice president of global bid management at Unisys Corp. Contact Mary Ann Wagner at mwagner@xiostrategies.com and Marguerete Luter at marguerete.luter@unisys.com.

A large company: Corporations generally give employees an opportunity to become much more specialized in their field and cultivate their skills at a greater depth through professional development. You can attend professional seminars and classes and join professional organizations, often at the company's expense.

Your own company: In contrast, starting your own firm gives you an opportunity to learn everything you ever wanted to know about the operations of a business. Matters such as paying the bills, becoming a corporation and building a Web site all become the assignment of the entrepreneur. These tasks need to happen but can detract from the development of your main skill set and the primary goal, revenue generation.