7 Ways to Succeed When Starting a Business on the Side
For many of us, starting a business isn’t an all or nothing situation, at least not initially. Many times, it’s a case of trying to get all of your ducks in a row and some income flowing in before leaving your full-time job. And if you’ve been in that situation, you know how stressful (and tiring) it can be.
The biggest challenge is time. When you work a regular job and start a business at the same time, you can essentially be working two full-time jobs. And that means little sleep and risk of burnout, especially if you can’t see the light at the end of the tunnel.
But there’s hope. Successful businesses are launched as a side venture all the time. You just need to be determined. And organized. And realistic. Well, there are a lot of things that can help you be successful…here are seven.
1. Stop and make a plan. Before doing anything, outline what you want to accomplish and be clear about how you will do it. Vacation time, holidays, or other scheduled time off from your full-time job can be the perfect time to work on your business. But plan ahead to make the most of your time.
2. Set goals with specifics. Do you want to make a certain amount of money in your business before leaving your job? How long will you give the business to turn a profit? Do you have a middle milestone before leaving your job (i.e. moving to part-time)? Write down your goals and keep them in sight.
3. Be realistic and honest with yourself. Your new business is probably not going to be successful overnight. Be realistic about the work, time and energy that you will have to put in. And be honest with yourself through the process – if you’re burning the candle at both ends and need a break, stop. If you lose your passion along the way, give yourself a chance to regroup.
4. Avoid distractions. Trust me, I know this one is much easier said than done, but it’s a big one. Your time is at a premium when you’re working and starting a business, so you need to do whatever you can to get away from distractions. Get buy-in from the rest of your household so you can create dedicated distraction-free (or limited) focus time.
5. Separate your dual lives. For many reasons – legally and ethically, especially – you will probably want to keep your business far away from your full-time job. Sure, you could work on your lunch hour or during slow times, but it’s probably not worth the risk. When at your job, focus on that and save the your business focus for after hours.
6. Get organized…and keep it that way. The last thing you want is to spend an hour after work trying to find the information you need to work on your business. Being organized will save you time and stress.
7. Be flexible and go with the flow. You can make plans and set schedules, but there will be times when things happen that throw you off track. Being flexible and able to go with the flow will make you more resilient and able to make up for lost time.
Have you started a business while working full time? What helped you become a success story?
Image credit: t-florie
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