Many an entrepreneur throughout history has wasted away at a full-time job for years, even decades, before getting the nerve to start their own business.
It’s risky to leave a secure job to start a new business, and the fear of losing something good in the pursuit of getting something great paralyzes many who would otherwise be entrepreneurs. That’s why many people start a part time business while they’re still working full-time.
If you start a part time business while you still have a job, you can put your ideas into action without taking the risk of leaving your job and focusing all your efforts on the business. But working full-time while planning and starting a part time business can rob you of energy if you don’t strategize properly.
Following are some tips for how to start a part time business while you still have a job.
How to Start a Part Time Business While You Still Have a Job
Come up with your business idea
It should be a business idea that can be managed part-time and ideally one that could transition into full time if you decide to leave your job. Most people who decide they want to start a part time business while working full time already have an idea in mind.
Whatever your idea is, it’s important that you’re passionate about it – for a while, your plate is going to be exceedingly full. If you’re less than passionate about the business, you just won’t have the bandwidth to give your attention to it while working full-time.
Keep the two ventures separate
Your part time business shouldn’t cross paths with your full-time job unless your boss has given you express approval to work on something during business hours. Your first allegiance is to the company you’re working for, who is paying you for your time.
It’s important not to let your full-time work slide as you focus more attention on your part time business – as you’ll read below, that’s what nights and weekends are for. Keep the two ventures separate to have a better chance at success.
Use your weekends wisely
Your weekends are going to be the main time you have to spend working on your part time business, so it’s important to use them wisely. As mentioned above, it’s essential that you keep the two ventures separate. Nights and weekends will become your time to strategize, plan, and eventually run and manage your business.
While relaxation and social activities are important, you’ll have to purposefully balance your personal free time with your new part time business.
Get support from family and friends
If you want to start a part time business while working full time, you’re going to be very busy in your free time. You need support from your family and friends more than ever during this process. Share your plans to start a business with them. Ask for their input and opinions.
Don’t be afraid to ask for help or particular means of support – those close to you will be more than happy to help you along in your new venture.