It’s not uncommon after years working for other people to decide that now is the time to strike out on your own. In fact, it’s extremely common, part of the circle of life.

And not everyone who goes out and sets up shop for themselves is a born entrepreneur, either. I can think of people I’ve known who were hustlers practically from birth, as well as people who spent most of their life as an employee, and were happy about it, until they decided that they had a vision of their own they wanted to pursue.

So what motivates some people to change gears, and go into business for themselves? Sometimes it’s a case of just getting tired of being an employee. One friend of mine joked, “I don’t have enough stress in my life, so I decided to start my own company!”

Behind the jokes, there’s a kernel of truth. After years of working for other people, your skills, experience and — most importantly — your confidence reach a tipping point where you realize, “Hey, I know enough to do this on my own.”

For readers who are thinking this through on their own, and determining what they want to do next with their lives, it helps to know that you’re not the only one. Regardless of whether you just need a nudge or a shove in the right direction, there are a few things you can do to be prepared to go out on your own.

You have to have a plan. What do you want to accomplish? Ask: Who? What? When? Where? Why? How? Those are all essential elements of knowing what shape your new venture is going to take.

Marketing yourself is crucial, and central to that is a portfolio of your work, showing off what you’ve done.
Whether you’re going to roll install trucks, build a showroom or freelance your skills as a contract programmer, wire monkey or just telling other people how to run their you need a portfolio as a sales tool.

Assemble examples of your work that you are proud of, case studies of projects you have completed and referrals from people who’ve had a professional relationship with you who can speak to the quality of your work.

The first two points I made about having a business plan and a portfolio are important not just for attracting new clients, but getting funding. Obviously, for many new businesses you’re going to need to seek financing.

Whether or not you need to take on debt to start your venture, it’s imperative that you quickly learn to manage your cash flow.

When I went off on my own, friends congratulated me on the “courage” it took to make that decision. I’ll be honest, it’s easier to become a freelancer when your spouse has a well-paid career with full benefits. If you’re able to make that part of your plans I strongly recommend it.

That said, no matter how much you love what you do, you still need to get paid. If you’re used to cashing your paycheck every month, and until now receivables have been someone else’s responsibility, you’ll learn very quickly to stay on top of your cash flow, especially if you’re not a sole proprietorship and have employees depending on you.

Selling your work is easy. Keeping your receivables current takes a little more work.

Your business plan shapes the outline of your venture. Setting goals is the next step.

Set milestones, things you want to achieve and the timeframe you need to reach them. Think of goals as the map to guide you on your journey.