Starting A Part-Time Business
A majority of people do not have the luxury of being able to just give up their day job and work full-time on their business.
With either a mortgage or rent to pay, and the rising cost of bills, many people require the security of a guaranteed income in order to survive.
The most important thing is your health, and it’s no good to get yourself stressed out over making enough money to cover all those crucial outgoings each month.
This means you will have to organise your time effectively so you can juggle 2 jobs.
If this seems like a daunting prospect, don’t worry – you can still do it. By following a few rules, you can keep your day job while building up your venture into something successful and profitable.
1. Make a timetable
If you don’t already have one, buy yourself a diary (preferably one of the larger ones, so you have plenty of room to make notes).
At the beginning of each week, write down the amount of time you are going to allot to working on your business each day.
This will help you set a routine that you can stick to each day, and ensure your new second job doesn’t eat into time you need to do other things, such as house chores, or seeing friends and family.
Set yourself realistic goals each week, and make sure you deal with the important aspects first, such as registering your company and securing funding (if required, depending on the type of business you are starting).
By breaking the process up into smaller tasks, you will have a clearer idea of what you can achieve and when.
A few weeks of following your schedule will test how committed you are to the project, and whether you have the drive and energy to keep working on your venture in the long term.
2. Work in a comfortable environment
The idea of working from home is not everyone’s cup of tea – these days you will find lots of cafes and coffee shops offering free wi-fi access.
You may even be able to use other people’s offices if you ask around.
If you are finding there are too many distractions around the home, it’s important to find a location that works for you in order to make the most of the time you are dedicating to your business.
3. Get lots of help and support
In order to kick-start your venture, it’s important to try and obtain some outside perspective.
Some people feel 2 heads are better than 1, and choose to have a co-founder on board.
This extra person can bring their own ideas to the table, as well as any skills, knowledge and experience that you don’t possess yourself.
You can also just speak with family, friends, colleagues and other associates who may be able to offer advice on certain aspects of running your business, e.g. accountancy, setting up a website, managing people, etc. Any knowledge you gain could prove invaluable.
Try posting on local websites that let you place free ads and see if you can find an enthusiastic student looking for some work experience.
This means someone can work on your venture full-time and help your schedule along. It’s great knowing your business is still making headway while you’re at your day job!
Although it may not seem like a tempting option, you can also use your annual leave to spend time getting your business off the ground.
If your family and friends are unhappy with you spending holiday time working, explain what you are doing and the eventual benefits once your business takes off.
4. Ask to work part time
As your business grows and you start making sufficient profits, you could consider asking your boss if you can just work part-time at your day job.
He or she may be willing to keep your skills and knowledge, even if it’s just for 2 or 3 days a week.
Even if you do not have a close relationship with your boss, it’s still worth asking – you may be pleasantly surprised!
Follow your dreams...
Starting your business venture while still in full-time work is the best way to start life as an entrepreneur.
It removes the pressure of rushing the process in order to make enough money to live on, and helps you stay focused on one aspect at a time until you are fully established.
You will find your business tests your personality in a number of ways:
- Can you learn skills that are new and very different to what you normally do?
- Can you overcome the challenges involved in starting up?
- Are you able to make important decisions?
- Are you willing to take risks you wouldn’t usually take?
Although it will often seem like an uphill struggle, the rewards you will gain from being your own boss will outweigh all the obstacles you will face on the entrepreneurial pathway.
Just keep going, and tell yourself you can do it, and you will find your business dreams are not so far out of reach after all.
For more tips and advice on starting a business and entrepreneurship, please see: