Taking the Plunge to Start Your Own Business

Kim Madsen | K. Madsen Consulting

A denied request for an unpaid personal day to watch her son play baseball in Las Vegas was the final straw for Kim Madsen. “I didn’t get mad about it, but it was a sign that I needed to do something different,” says Kim. “It wasn’t the only reason, obviously, I had been thinking about starting my own business for years, but it was what pushed me over that edge.”

Use Your Strengths
“My career path has been working for both non-profit and for-profit businesses. I have a Masters’ Degree in Adult Education. Being a trainer and educator has always been my tendency,” Kim says. Because of that, it made sense for her to start her own business in consulting and coaching. She focuses on helping people within organizations find their strengths, so they can be utilized to their fullest potential. “I’m all about who can I help, and how can I serve?” Kim explains.

Find Your “Person”
The decision to leave a full-time position and forge her own path was not an easy one to make. She credits a couple of people in her life who made that decision easier. “Finding a go-to person is very helpful. My sister-in-law is that for me. She told me for two years that I needed to start my own business,” Kim says. “And my husband is also very supportive. When I told him what I was thinking, he said, ‘go for it.’” Kim suggests finding that go-to person or group if you don’t already have that in your life. “Seek it out, find online coaching, find a closed Facebook group; it gives you the opportunity to find people who are like-minded. I personally believe in coaching so much, that I now have my own coach. It’s nice to have that person’s perspective to ask why I’m doing something.”

Don’t Underestimate
Kim says her biggest challenge in starting her own business was not selling herself short. “When I started, I would reduce my price drastically to take a job. As a new business, it is a struggle to figure out what to charge. But I have reassessed and looked at what my time is worth, because I do have the background, work experience and education to be doing what I’m doing.”

Set Yourself Up To Succeed
One of the first things Kim did when starting out was to sign up for Startup. “That really helped me hone in on my ideal client, what my path looked like, and the ‘why’ of what I’m doing,” Kim says. “It helped me figure out that, in reality, I didn’t want to work with just anybody. I don’t want to give a seminar here and there, but I want to work with a company for at least six months to not only do training, but to help with implementation. Having those things figured out before you go forward is so important.”