25 Apr How To Start A Business Without Quitting Your Day Job
It is easier than ever to become an entrepreneur in your free time and start a small or home-based business without quitting your day job. And now you’re wondering how to launch your big idea while remaining a full-time employee. Here are tips from someone who’s been there.
Dedicate time from your schedule regularly
Because you will be working two jobs, you will need to budget your time wisely and set aside free time for managing your business. This will likely mean working on the weekends and/or at night when you get home from your work. In order to meet this demand, try designating a specific amount of time each day or week to your business.
Avoid working on your business while at your day job. Employers tend to frown on this, it may get you fired and it’s not ethical as well. Consider requesting someone to handle the business workload while you are at your job.
Start with something small
Since this is your first time at starting a business, begin with something small and get the clear idea. Don’t rush and attempt to do things at one go. Approach friends and family to get guidance and feedback. You can also visit websites that offer guidance. Sketch it out on a paper of the ideas you get and see for yourself whether it will work out or not. Some widely used business ideas are catering services, website designing, online tutoring, freelance writing, photography, hairdressing or makeup artist, etc.
Running a successful business has a lot to do with networking. The more people you reach out to in the industry you’re in, the more information you’ll receive that can help you. Attend networking functions in your local community or look for groups online.
As you meet people, do not only discuss what you’re doing but find out what others are doing and see if you can help them. By lending a hand, you can learn a lot from the experiences, which could end up propelling you into amazing opportunities for your business.
Understand the difference between working for yourself and building an ongoing business
If you want to build a business, you need to develop systems and methods that allow you to hire other people to DO the work of the business while you plan it. You limit the potential for growth if you don’t bring in other people to work for you.
Save up for your business
Because starting a new business can be expensive, you will need to find a way to increase your savings. You can start by evaluating your finances and then creating a budget for your business. Try to save enough money to meet your business’s expenses for an extended period. Depending on the type of business you intend to start.
Prepare for trial and error
Whether you’re starting your first or your third business, expect to make mistakes. This is natural and so long as you learn from them, also beneficial.
If you do not make mistakes, you do not learn what to do less of and what to emphasize. Be open-minded and creative, adapt, look for opportunities, and above all, have fun! The great thing about owning your own business is that you get to decide what you want to do and where you’ll grow.
To know more about business planning feel free to contact us. We are ever ready to help you!