If you have a business idea you’ve wanted to run with for quite some time, it’s tempting to quit your current full-time job and focus solely on your start-up. Once reality sinks in though, you realize that, unfortunately, that isn’t the most likely scenario.
The truth is, many start-ups come from those working full-time. You will still have a mortgage and bills to pay for while you start your new company. Unless you have a significant safety nest set aside, you’ll need your current job to keep living.
Just because you work full-time though, that doesn’t mean you can’t start your own business. Global Resources LLC has a few ways to help you get your business going without quitting your day job, at least not right now.
Understand Your Current Employment Contract
Before you begin anything, make sure your employment contract allows you to have a side business. Many employers are pretty okay with an employee running a side business while working full-time, as long as it doesn’t compete with the current job. However, it’s best to speak with your employer before you start anything. You wouldn’t want to go through all the work, only to find out that your contract prohibits you from doing so.
Starting a business is a lot of work, let alone your daily job you have to attend to. It may seem overwhelming when you think about it because it usually is. That is a lot to fit into one day while still having somewhat of a life.
Consider having a co-founder or partner to work alongside with. That way, you can split up the work between the two of you. Look for one that has the same values as you and shares the same passions.
Start as Part-Time
Although you may want to run forward with your business plan with full force, it’s not a bad idea to pull back on your side job first. Consider running it as a part-time job. It’s a great way to test out your business idea before fully committing to it too.
Learn to Prioritize
When you have a full-time job and looking to start your own gig, prioritization will be critical moving forward. You won’t be able to do everything in one day, so you’ll need to work on tasks according to their importance level. If your regular day job starts slipping, but your side business isn’t ready to go on its own yet, you’ll want to re-evaluate your priorities.
Don’t Use Work Time for Your Business
If you have the okay from your boss to start your own company, don’t push it. Keep your current day job and your start-up separate. Imagine how you would react if you found an employee working on their side job during regular work hours – likely not very well.
Remember, It’s Not a Hobby
As you maneuver through the life of working full-time and starting up a company, it’s essential that you remember it’s not a hobby, it’s a career choice. Especially if you’re taking a hobby and turning it into a business, treat it as one.
Starting a company while working full-time is doable. It will take a lot more organizing, prioritizing, and likely a few sleepless nights. However, if you’re dedicated to your new career choice, then you’ll be able to persevere.