One of the advantages of working with a mutual fund company is that one gets to learn the principles of financial planning on the job itself.
Therefore, for me, the transition process from being employed to entrepreneur became lot easier. These principles are very simple for anyone to understand. Also, the process is very effective if one is disciplined and stays focussed.
The main change that occurs is that there is uncertainty in inflows without any change in outflows. In simple words, it's all about having a salary every month and not having one, but the monthly expenses on account of food, clothing, hygiene, commuting, house maintenance, medicines, newspapers, electricity, and telephone continue as ever. And even if one starts living frugally, one cannot put a stop to many of these.
The first thing in such a case is to ensure there is enough liquidity to survive through the initial few months of struggle. The big question is