Don’t let your job stop you pursuing your dreams of starting and growing your own business. Instead, use your job to help you set up and start your own successful business!
Lots of people are hesitant about starting a business while working another job. They often think that working their job will mean they won’t have the time or energy needed to invest in starting a business. However, time and energy are not the only things you need to start a business. You need time, money and the right mindset to start a business. Yes quitting your job would give you more time but you lose your financial security. This loss of income can then have a negative impact on your mindset. I am speaking from experience.
The question is then, how do you start a business while working another job and make sure you have both time, money and the mindset? This is a common challenge many aspiring entrepreneurs face. Fortunately, you don’t have to choose between a job or your own business; with the right planning (and mindset) it is absolutely possible to successfully do both together.
Follow these 5 steps if you want to start a business while working full time.
Let’s go!
The first step to starting a business while working another job is to decide on a business idea that your existing employment contract legally allows you to start. I have written a blog on how you can come up with a business idea; I won’t repeat myself, you can read it here. The key with this step is to check that any business ideas you have don’t break any non-compete clauses you may have agreed to.
You need to invest time into setting up and starting your business. As a result, time management, including scheduling time, is a key factor when setting up a business while working another job. You need to manage your time effectively.
Where can you find the time needed? This probably won’t come as a surprise but here are your options of when you can work on your business around your job:
Once you’ve decided on a business idea, checked it doesn’t break any non-compete clauses in your employment contract and checked it is the right idea for you to start, you need to set up & start your business before you can spend your time running and growing it. There are several things you must do to do this:
This might seem like a lot to do but these things are essential to run a compliant business. To save you time and streamline the process of setting up and starting your business, I have created a business start up guide. This guides you through the essential and non-essential tasks of setting up & starting a business. It covers everything you need to do to start selling your product or service to your customers.
A common theme of starting a business while working another job is not having enough time. To maximise the time you do have it is important to begin automating your business processes from the start. Doing so will remove your input from these jobs, freeing up your time to spend on other aspects of your business which can’t or have not yet been automated.
Again for more detail on how to automate different business processes, download my guide on how to start a business while working full time (the link is at the bottom of the blog). It is free.
For the last time, you have limited time when setting up a business while working a job. You need to decide what are the most essential things for you to be spending your available time doing.
Ask yourself, what are the things that will move the needle?
Things like spending your time creating branded office stationery are non-essential and not a good use of the limited time you have available. Likewise, yes it would probably be nice to have branded workwear but the reality is, you won’t be able to wear it while working at your employed work (unless you work from home) and spending your time getting it isn’t a good use of time or money! Your time will be much better spent building relationships with suppliers, reaching out to target customers and building marketing channels.
These are the 5 steps you need to take to start a business while working a full-time job. Don’t fall into the mindset that you must quit your job in order to start a business. You don’t and from my experience, not having a job makes starting a business much more difficult!
Your job gives you financial security and peace of mind. It gives you the money you need to invest in your business and carry on living your life. It de-risks starting a business. Many successful businesses have been started by individuals facing similar challenges: trying to start a business while working another job. Don’t let your job hold you back from pursuing your dreams. You can find the perfect balance between your job and your business, leading you on the path to success.
For a more detailed information on how to start a business while working full time, download my guide.
Why is a business plan important and what to include in a business plan? Here are 5 reasons why you should be writing a business plan and what you should be including in yours!
Is your business right for you? Owning a business is an exciting and rewarding venture, but it requires careful consideration and planning. Using a new business I am starting as a case study, I will step you through the 4 step checklist I use when deciding whether a business idea is right for me. This checklist includes…
What are the benefits of automating business processes for small business owners? In this blog, we will explore the numerous benefits that small business owners can reap by implementing automation technology.
Should you quit your job to start a business? Quitting your job would give you more time to pursue your entrepreneurial dreams. However, it also comes with other effects which arguably outweigh the benefit of having more time to work on your business. In this blog we will answer the question of whether you should quit your job to start a business.
Having the confidence to pick up the phone and ring anyone isn’t a “skill” we’re all born with. I am speaking from experience. Fortunately though, it is a skill that can be learned and developed. In this blog I will outline the different steps I took to increase my confidence when picking up the phone and squash my anxiety!
Wondering how to automate invoice creation for your small business? Google Workspace’s suite of tools, including Sheets, Docs, and Apps Script, offers a powerful way to automate the invoice creation process. In this post, we will explore how to set up an automation workflow using these tools, enabling you to streamline your invoicing process, reduce errors, and save valuable time.
