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Take the Plunge!

Teetering on the edge of unemployment? Then maybe you should jump at the chance to own a business.

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This story appears in the November 2003 issue of Entrepreneur. Subscribe »

It's pink-slip time in your boss's office. If you're lucky enough to get advance warning, you may have two weeks or more left at your job-and instead of seeking work, you're determined to use that time to lay the groundwork for your new business. You've dreamed about it for years, and now is your opportunity to make it happen.

First things first, says Dwayne Cox, business coach and founder of the Northern California Small Business Owners Association. "Get real with yourself about whether this is something you [are] really committed to and why," he says. "You [also] want to work through not only a business plan, but a marketing plan, a personal development plan and a professional development plan with timelines and numbers worked into them."

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