4 Tips To Build Your Business While Working Full Time
The thought of working for yourself can be both exciting and scary. One of the main questions I asked myself and one that I get from other people is how do I start my own business while still working for someone else? I’ll be the first to tell you, it’s very possible. It’s not always easy, but it is possible. For me, it was important to keep my full-time job, so I had a consistent income and benefits. Job security was key to me being comfortable in building my business. So, how do you do it? How do you work 40 plus hours per week at a job you may or may not be the happiest at and then work additional hours to turn your dreams into reality?
1. Create a Plan with Realistic Targets
I am a strong believer in putting your thoughts on paper. Seeing your plan makes it easier to achieve and stay on track. Start by creating a list of goals that need to be completed to begin building your business. Writing a business plan, deciding on a name, the specifics your business will offer, your logo and website are just a few things that should be on your list. Next, plan out time daily or weekly to work on your plan for your business. Decide what is the easiest way for you to make it work for your schedule and stick to it. Don’t let days and weeks go by without checking items off your list.
2. Don’t Treat Your Business Like a Hobby
As you are building your business, it’s important to treat it as if it is already your primary source of income. If you treat your business as a hobby, you will build it as a hobby. It is less likely that you will commit to completing scheduled tasks or deadlines that will affect building your business if you treat it as a hobby. The dedication you give to your full-time job is the same, if not more, of the dedication you need to give to your own business, especially in the beginning stages.
3. Leave Your Business at Home When at Work
I know it will be hard but it’s important NOT to work on your own business while at your day job. Don’t use their equipment and software to work on your business. If you need to discuss your business or complete a task, do it on your lunch break or after work hours. Leave the conversations surrounding your business until you are off company time, even if your co-workers could be potential customers or clients. If your business is related to your job, it may be necessary to discuss with your boss. You don’t want to create any conflicts that could affect your current position as you are building your business. There is a chance that maybe your current company will collaborate with you or refer clients or customers to you. Anything is possible!
4. Save, Save, SAVE!
Having a cash reserve will make your transition from a full-time job to running your business full time a lot easier. The additional income from your business should be savings or a safety net so you are prepared for future expenses or slow times in the business. There will be business expenses that you need to cover, and it will be easier to pay them while you are receiving a consistent paycheck. When I was working full time, paying for the expenses of my business and saving my money to transition from my job was a piece of cake. After I began running my business full-time, I had to be mindful of my expenses and make sure that I continued to build my savings. I’m thankful that I created a cushion before I went full-time because it helped me to cover all business expenses, in addition to personal expenses, as I began generating consistent income.
Building a new business can be overwhelming and creates a sense of fear. Having a consistent income as you are starting out will make the process a little easier. Working full-time while starting your own business can be difficult but it will be worth the work when you are running your own business full-time. So create a plan, set a launch date and get started!