Posted Under: Entrepreneur, Entrepreneurship, Our Heroes

Today we are talking to Colby Cauchon who is our next guest under the “Our Heroes” series. Working as an associate in the Interior Department at a large Philadelphia architectural firm she was able to establish an impressive portfolio ranging from restaurants to hotels. Colby struggled with the decision of transferring from an employee to an entrepreneur while being a single mom with a mortgage. She finally took the leap of faith and Stripe Design Studio was born. Let’s hear how her business came to be…

DD:. Who are you and what kind of corporate job were you at?

CC: My name is Colby Cauchon, I’m a single mom, who recently left her corporate job at a large architectural firm in Philadelphia. I was an Associate in the Interiors Department for six years where I designed and managed projects. My time to become an entrepreneur just happened at end of March 2010. I’m now the owner of Stripe Design Studio.

DD:. What made you leave the job? When did you realize that you wanted to be an entrepreneur and why?

CC: Previously, I worked in NYC for a small, creative studio. After working there for some years, I felt the need to experience the very organized, structured, environment which led me to an architectural firm. Once I balanced my experience, I was confident enough to go out into the world with my own twist. I thought to myself, “if there is ever the chance to do this, it’s now!” It was an amicable departure. In fact, I just designed the restaurant at The Union League in Philadelphia receiving rave reviews and results. A recent consulting project I did with my prior employer was the new club at the Borgata in Atlantic City.

DD: What did you do to break the corporate jail? How did you prepare for the employee to entrepreneurial transition?

CC: I knew what I was getting into – gradually I started setting an office up at home, getting the computer and IT stuff sorted out. I formed an LLC through a company called UpStartLegal.com which allowed me to form the company effortlessly. Fortunately, I never experienced a down period.

I had done some projects and really mentally prepared myself for two years. While I wasn’t sure of the exact day I would make the transition, but I knew it was going to happen.

DD: What are your suggestions for aspiring entrepreneurs?

CC: There is a leap of faith – no risk, no gain. Now, I can sit on the other side of the table and honestly admit I will never go back to work for a company. It was my own fear that stopped me.

I remember pacing back and forth about whether or not to leave and if it were the right time. I’m a single mom, with a mortgage, expenses, responsibilities after-all… there was never the perfect time. I reached out to a family friend who works for one of the largest architectural firms in NY and they helped and answered all my questions. I then had the time to digest them.

My advice to aspiring entrepreneurs is to do your research, do your homework, and don’t be blind. Get the legal advice you need, as well as accounting advice.

DD:. How are you doing and how do you feel now?

CC: I’m very excited about what I’m doing because I’m doing it my way. I’m now able to manage work in a tidier fashion. My support network has been tremendous – word got out and my phones started ringing and I’ve been swamped. It’s just AWESOME! Opportunity leads to opportunity. Once you are out, you seize it and it feeds itself. I love the flexibility and the balance of personal and professional life.

DD: There you have it, Colby Cauchon of Stripe Design Studio. She mentioned the importance of taking a leap of faith!  While being a single mom with so many responsibilities, she continuously flirted with the idea of starting her own business convincing herself that it “was not the right time” only to realize that there is no such thing as “right time”. Right time is the moment you decide to make it right. So, are you still waiting for the “right” time?

Success to all!