Starting A Side Business While Working Full Time
Posted by Richard on July 11, 2018
Potential entrepreneurs that feel trapped by their day job can still find a wealth of opportunity to start their own business by starting it up on the side, according to Inc. Magazine.
Despite the lack of time that a full-time job can create, having one means that there will be a steady income while a new company or project begins.
In the beginning, it is essential to clearly define the goal of any potential side business. These goals should include a timeline with milestones set to deadlines, long and short-term plans for reaching those milestones, and an honest assessment of the resources and skills necessary to succeed. Picking a business that requires a lot of capital and investment to get started or one that needs you to be on-call at all times will likely be abandoned before it even gets off the ground.
Those working a 9-to-5 shouldn’t realistically assume that they can devote the same amount of time to their new business. This means staying focused and scheduling time wisely will be critical to success.
Because a side business might not immediately generate a lot of income, this focus will be necessary to keep it going during dry spells. When blocking out time, those with families and other commitments will need to find the right balance early on to make sure that nothing is being left out.