George LewisProgram/Project Manager| DXC Technology CompanyHeredia, Costa Rica
Most of the questions related starting a PM firm is how, but this particular question or discussion is on the when...
At which point in career lifetime and personal lifetime is good moment to start?
Have someone started right away after getting their PMP?
Did you get experience first and then took off?
You may consider it does not worth leaving your company and will never do, because you believe it's not worthed. Saving Changes...
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George LewisProgram/Project Manager| DXC Technology CompanyHeredia, Costa Rica
It all began when a read this post...
"Master the processes, activities, and events that occur in project management to be an industry leader, not a follower."
My thought was, I already mastered the processes, activities and events that occur in project management, but I'm still a follower... Saving Changes...
Personally I do not think there is right / good moment, this is purely personal. The moment for someone will be right, but for others will not.
If you have the will to do it (and from what I read the experience), do not wait and take the dive. It will give knowledge, which you cant obtain when working as employee.
So at the end it is how you fell - ready or not.
I hope that my thoughts will help you to choose direction. Saving Changes...
John DuncanRetired| RetiredLebanon, Tn, United States
Great question, and the post you quoted contains a very interesting thought.
Part of it probably comes down to definitions... The definition of mastery, and the definition of industry leader.
Mastery may mean more than "very thorough understanding". It may mean mastery in the _application_ of those processes, activities, and events.
Industry leader has some implications as well. That can include recognition in the industry as a leader. Speaking, writing articles, participating in chapter activities. Demonstrating mastery through successful completion of projects, having a "portfolio" of completed projects in your specialty area, or at a certain level of complexity. Saving Changes...
Anyone can start a company at any time, but how successful it will be usually revolves around a few factors including:
- Size of the individual's network of leads/potential clients
- Ability to weather lean times
- Perceived credibility in the marketplace
- Risk appetite
- Supply vs demand
For most, if they made this move it would be after having developed a fairly broad and deep portfolio of experience and cultivated a reasonable size list of potential clients.
Kiron
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1 reply by Rami Kaibni
Apr 07, 2018 1:00 PM
Rami Kaibni
...
Good points Kiron.
Saving Changes...
Dinah YoungProject Manager / Software Asset Manager| Prince William CountySpringfield, Va, United States
Interesting discussion. I am looking forward to hear what everyone says. This is something I have considered but am not ready for at this time. I look forward to any information that will help me prepare for a future endeavor. Saving Changes...
Senior Projects Manager | Field & Marten AssociatesNew Westminster, British Columbia, Canada
Apr 07, 2018 10:32 AM
Replying to Kiron Bondale
...
George -
Anyone can start a company at any time, but how successful it will be usually revolves around a few factors including:
- Size of the individual's network of leads/potential clients
- Ability to weather lean times
- Perceived credibility in the marketplace
- Risk appetite
- Supply vs demand
For most, if they made this move it would be after having developed a fairly broad and deep portfolio of experience and cultivated a reasonable size list of potential clients.
I want to add to Kiron from my personal experience.
You need to have a good business partner with different areas of expertise.
You need to have supportive partner/wife/husband.
It is not only the first contract is hard to get. Saving Changes...
Stephen ThomasSenior Principal Consultant | Vertical Consulting Group L.L.C.Mckinney, Tx, United States
First, there has to be some serious thought into becoming an entrepreneur. Yes, a person could have PM knowledge and experience, but it doesn't mean they should start their own business. You wear multiple hats, work a lot of hours and working outside the box is a must. It's not for everyone, but for those that have a passion for it and ready to "ride the wave", go for it. Plan in advance, get a mentor (someone that has their own business) and stay true to yourself. Its much different than working for someone..... Saving Changes...
Really not every one can make the move into private practice. For me I never considered it in my many years working in a Government Agency, but I increasingly found myself advising and consulting on projects for friends and social groups I belong to for free and many times standing in for organisations I have personal affiliation with for mere honorarium. Realising the
amount of time I spend doing all these, I collaborated with a Civil Engineer buddy from our Agency to form a partnership and opted into private practice. So when to start is when you evaluate the circumstances to be right after assessing the risk. Saving Changes...
I think somebody should come up with a way to breed a very large shrimp. That way, you could ride him, then, after you camped at night, you could eat him. How about it, science?
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