Advice: “Get a good accountant — someone you trust. I thought, ‘I'll do it myself.’ But I realized I would never have time to learn to use QuickBooks. My accountant has helped with tracking expenses, deciding what type of business to set up, and has referred me to a great lawyer and insurance agent. You need to balance your time between working in your business and working on your business. This is your passion, but the steady paycheck is no longer there, so you have to stay on top of your invoicing and receivables.”

Staying Connected: “The power of relationships cannot be overstated. All my business has come by word of mouth. I have always been very active in the industry — at Financial & Insurance Conference Planners events, Meeting Professionals International programs, and hospitality partner events. I also reach out to other independents and have collaborated with my peers at times. I believe that we are all here for each other. I keep up with the business press and e-mail newsletters to stay on top of trends. I do a lot of site visits. Your best marketing tool as an independent planner is just being out there.”

Keys to Success: “Make sure it is easy to do business with you. Be on top of your tasks and don't take your clients for granted. No matter how simple or complex, I still get nervous before events and go through my list four times. Also, be open to anything but say no if it's not a good fit. It can be hard to say no, especially in this economy, but you have to follow your gut.”

On Being Your Own Boss: “I'm free to make my own decisions and I have control over my calendar. I can pick and choose the work I enjoy doing. I've gained so much confidence. The biggest reward has been building my personal and professional brand.”

Kelly F. Stratton

LEFT THIS JOB: Director, Meeting & Event Services, NCR

TO START THIS JOB: General Manager/Co-owner, Paragon Events, Bahamas, 2001; followed by President, Stratton Meeting & Event Services, Fort Lauderdale, Fla., 2004 www.strattoneventservices.com

Client Types: Association, yacht manufacturer, financial services and insurance companies

Project Types: Planning an annual exposition with 125-plus exhibitors; producing a 1,200-person customer event; providing emergency medical and evacuation travel insurance coverage for groups

Why I Made the Switch: “Making the leap to the Bahamas in 2001 to join Paragon Events was a result of an intense desire to ‘shake it up’ and do something entirely different. Starting and managing a destination management company in the Bahamas met that goal! I thought that I was leaving the corporate world, but really it was just a smaller version of corporate (with smaller budgets). Finally, when I realized that I no longer wanted to worry about pleasing everyone above and below me, I decided to fly solo. The only people I have to please at this point are my clients and myself.”

Big Surprise: “This is the good news/bad news part. The biggest surprise is when you first realize that you are no longer a part of a big organization that is credible and recognizable and has huge budgets! Unless you jump with a client in your pocket, you really do have to start from the bottom all over again. I also realized that it felt much different being a ‘supplier’ rather than a ‘client.’ Actually, it took quite a while to reprogram how to interact at The Motivation Show and other industry gatherings not as a planner of a large corporation but as an owner of a small business.”

Facing Challenges: “Creating a product or service that stood apart from what felt like a million others doing the same thing was the first challenge. But you need to take the time to do the startup work. Someone gave me a marketing workbook that forced me to define my mission, strategy, products, sales goals, audience, etc. I spent a lot of time on this until I was comfortable saying what my company does in 30 seconds or less. Sounds easy but it's not. I also spent months on my logo, stationary, and Web site. It was a serious investment of time and money but it has served me well.”

Staying Connected: “Thanks to the Internet, I actually feel more connected now than when I worked 60 hours a week in my corporate jobs! And I'm making it a priority to get connected. Thanks to social networking sites, it's easier than ever to keep up with peers and clients. I've also begun presenting to meeting planning audiences, which helps me build relationships.”

On Being Your Own Boss: “The reason that I keep doing this is the freedom: the freedom to work my own hours, to be creative, and to know who is accountable when things go right and when things go wrong.”

You've Been Laid Off: Now What?

It's common to feel blindsided and overwhelmed, says Sue Lidstrom, director of sales for the Hyatt Place Hotel in downtown Madison, Wis. Here is Lidstrom's post-layoff to-do list, a version of which originally appeared in Agenda, a publication of the Wisconsin chapter of Meeting Professionals International.

• File for unemployment right away.
• Assess your financial situation.
• Don't feel ashamed; it's not about you!
• Make a home office to stay organized.
• Think about your career history: Do you need a change?
• Leave on good terms — there's always a chance for rehire.
• Practice your interview skills.
• Consider consulting or temp work.
• Save your receipts: Everything you pay for related to your job search is tax deductible.
• Consult your tax adviser, and if you don't have one, get one!