Have you always wanted to be an entrepreneur but scared of quitting your day job? You are not alone! Many people are unfulfilled in their careers, but they hold on to it because it pays the bill. However, the fact that you have a day job should not stop you from starting a business or launching a side hustle.
Starting a business on the side while working part or full-time has its pros and cons. Let’s examine some of them.[Need Advertising? Our team of experts can help. Contact us HERE to learn more about how we can help you advertise your business, so you can reach your target audience]
It gives you the opportunity to test the waters: One of the advantages of starting a business while holding on to your day job is that it gives you the opportunity to test whether your idea is viable or not. With a day job in hand, you have more room to absorb the pressure if things don’t turn out well
You have financial stability: Finances are big and real issues. Holding on to your day job while starting your business helps you to remain financially stable. The early days of starting a business can be expensive and if you do not have an adequate source of income, you might run out of cash fast.
It gives you the opportunity to fail and learn at a steady pace: With the pressure of running out of cash out of the picture, you are more open to failing and learning at a steady pace.[Great Read: 5 Companies That Will Pay You to Become an Online English Tutor]
It slows you down: There are only 24 hours in a day and if your day job is taking up to 10 hours of your time daily, then you are only left with a few hours to focus on your business. This type of situation is not good for a business especially if you mean serious business.
It waters down your efforts: No matter how you look at it, only a few people can concentrate on two things at a time. Having a day job and a starting a business can be challenging. This is because you are unable to give both your undivided attention. Depending on the type of job you do, you may find it hard giving your 100% at work.[Great Read: Need Capital to Start a Business? Here are 20 Business Ideas to Raise Capital]
How to Start a Business While Working at a Day Job
If you’ve been thinking about starting a business while working at a day job, here are a few ideas that can help you.
a. Work with a concrete plan
One of the greatest mistakes you can make while having a day job and starting a business is working without a concrete plan. Every institution that succeeds does not succeed by accident. Instead, they work with a concrete plan and follow the plan as much as possible. So also, if you want to hold on to your day job and build a business on the side, you need a concrete plan to work with that will help you reach your goals.
b. Work at your own pace
While trying to build a business, it might be tempting to become impatient and start to overstretch yourself. However, if you do this, you are simply writing an invitation to frustration. Rather than rushing yourself, it is better to work at your own pace. Do not give in to the temptation of comparing yourself with others, being too hard on yourself or trying to work at an unreasonable pace. Trust the process, work hard and you will see the results.
One of the things you’ll quickly realize while starting a business and holding on to your day job is that 24 hours is never enough. Therefore, one of the best things you can do for yourself and your business is to outsource some of the roles. Yes, you are a problem solver and yes, you are a superhuman but if you do not outsource, hire or delegate, you will sooner or later run out of gas.
Starting a business while working at a day job is never going to be an easy ride but if you are determined, there’s nothing that can stand in your way. With consistency, focus and hard work, you’ll get to a point where your business will generate more than enough to sustain you and your family and at that point, you can leave your job or if you like, you can keep doing both. After all, things can only get better with time!
Thank you for reading! What is one thing you will take away from this article? Kindly share it below.
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