… but not so daunting as to dissuade me from my goals.

I just finished reading chapter three of The Business Side of Creativity, “Planning for your Future.” It discusses a wide variety of topics one must consider before launching a freelance business. Some I’ve already begun to address (where to operate, for instance). Others I have yet to explore (“Selecting and Accountant” and onward, I’m looking at you).

At first glance, the logistics of operating a freelance business seem to be quite complex. There’s a lot to do in preparation, and by halfway through the chapter I was sufficiently daunted. Two questions immediately sprang to mind: Is this endeavor really such a good idea? How in the world am I going to pull this off?!?

After I finished the chapter, I took a breather before answering those questions. If I’d tried to answer them right then, It likely would’ve resulted in me running through the streets, flapping my arms like a madman. But after some reflection (and some breakfast), I decided the answers to these questions are: “Yes,” and “One step at a time.”

Mr. Foote makes the point that it should take at the very least a month, maybe two or three, to properly get one’s ducks in a row for launching a successful freelance business. He also suggested picking a launch date (he called it a “My Independence Day” date), which is something I must seriously contemplate. A set time frame could be very helpful.

I plan on making a checklist (called “My Checklist”) that will hopefully help me keep everything in perspective. I’ll focus on one item at a time, be it choosing a name, registering with the proper authorities, finding an accountant, etc. Just thinking about the process in terms of list items to be completed makes it less overwhelming, at least to me.

There is a lot of good information to be found in this book, including just about everything in this chapter, but there is one point on which I tend to disagree: Establishing credit. While I do agree that establishing credit is a good idea, and will be very helpful, I’m not a fan of a couple of Mr. Foote’s suggested actions. His advice on applying for credit cards or seeking a second mortgage on a home are, in my opinion, bad ideas. I’m not a fan of credit cards, especially when one is contemplating a career change that doesn’t come with a steady income. And as far as getting a second mortgage on a home… well, I don’t own a home, but if I did, a second mortgage is something I would avoid at all costs, especially considering the aforementioned irregular income.

But despite these sticky points, I’m finding this book to be very informative, and chapter three, “Planning for your Future,” is a very helpful and important chapter. I’m looking forward to the rest of the book.