Being your own boss. (Personal Futures).

Millions of workers have left corporate America to pursue small-business ownership not for the money, but for the lifestyle benefits that going solo affords. In Not Just a Living, a practical guide to self-employment, freelance writer Mark Henricks shares start-up stories and experience-driven

Indulging your passions, having more control over your time, and being your own boss are just a few of the many perks that come with lifestyle entrepreneurship. But not all disgruntled office workers should quit their desk jobs for the seemingly greener pastures of self-employment, the author warns. Working for yourself may be personally fulfilling, but the first years can be financially stifling--particularly if you have little capital at the outset. "You will need to earn about 6% more than you did in your old job just to break even on take-home income," Henricks says.

That income could be elusive if you're not technologically prepared for self-employment, so Henricks lists the basic technologies of many small companies: computers, printers, copiers and scanners, fax machines, and wireless communications. Before buying one of each, however, assess your precise needs for the business, keeping in mind not only price and size, but also the time you're willing to invest in learning how to master the glimmering gadgets that beckon from storefront windows.

Henricks's other tips include how to assess whether self-employment is right for you, how to choose the right industry, how to finance your fledgling business, and how to ultimately end your involvement when you feel the time has come.

Source: Not Just a Living: The Complete Guide to Creating a Business That Gives You a Life by Mark Henricks. Perseus Publishing, www.perseuspublishing.com. 2002. 230 pages. $25. (Order online from www.wfs.org/specials.htm.)