How To Start A Business When You Have A Full Or Part Time Job
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How To Start A Business When You Have A Full Or Part Time Job
There are various reasons why people want to start a business. For some a business is a way to escape the job they hate, the boss who doesn’t understand or appreciate them. For others it’s a way to escape the long commute to and from work; A way to spend more time with the family; A way to earn more money to create a better lifestyle for themselves and family; A way to pay off debts and enjoy a debt free life… And the list of reasons why people want to start their own business goes on and on.
Do you fit in there somewhere?
If you decide to start your own business, it may be for one of the above reasons or for your own personal reasons that only you know about. The thoughts of achieving financial freedom, working the hours that suit you instead of someone else, taking off whenever you want, being your own boss, not being restricted as to how much you can make, is often what motivates people who want to make money online. This is a great motivation to have, but it needs to be tempered with responsibility.
While there is money to be made online, it doesn’t always come as quickly as hoped or always in time to meet your ongoing financial responsibilities. You can eventually get to this point, but it usually takes time. For some, it takes more time than others. So the best advice here, is to keep your full or part time job going while you build your business up to the point where it pays more than you presently make on your job.
Granted, it will take stamina to keep working on a job you may not like when thoughts of no more commuting, being your own boss and not having to answer to a boss, working only a few hours a day, and the thoughts of becoming rich within a short time are flooding your consciousness throughout the day causing you to lapse you into periods of pleasurable day dreams about what the heck you are going to do with all that money, but this is where you need structure and discipline. If you want any chance at succeeding, you need to keep your job until you get your business going and making enough to support you.
So how do you start a business when you have a full or part time job?
The best way to start your business either working a full or a part time job is to take the following points into consideration:
Be prepared to meet with some opposition from family and friends. Skepticism is to be expected in the initial stages for a self employed venture where you are venturing into uncharted waters with the intention to make money on something other than a regular job. Overcoming this mindset among family members and friends is going to be tough at the beginning.
Start off by being realistic in the amount of hours you can dedicate when you start a business. When you start a business while working either a full or part time job, you are going to think that there just aren’t enough hours in the day to accomplish everything that you want to. And you are right. That’s why you are going to have to prioritize what you hope to accomplish. Adjust to the fact that you are not going to have the time to do all the things you want.
In the beginning stages of your new business development and throughout the life of it, you are going to need some form of time and task management in place to accomplish your prioritized goals. It really doesn’t make much difference as to what method you use. Whether a loose leaf notebook, a time manager, a diary,a spreadsheet, or a software program, what is important is that you have the structure in place and the discipline to use it.
By using the structure of time and task management tools, you will start your business with the knowledge that you only have so many hours a day that you can actually put into accomplishing your goals. This will keep you from stressing yourself out and will maximize your productivity.
Here are a few pointers to help you maintain structure and discipline when you start a business from home:
* Have a suitable room that is private where you can work uninterrupted.
* Have a family that will respect your business time and keep interruptions to a minimum.
* Have all your equipment and resources together in an easily accessible location.
* Have the discipline to work at home and maintain focus without being distracted.
* Have the discipline to follow your work schedule and complete your priorities.
* Have the determination to succeed in your business?
Also, you will need to include in your time and task management schedule time segments to accomplish your key strategic concerns such as:
* Financial accounting
* Management accounting
* Setting aside time to research your market
* Setting aside time to learn any business skills you lack if they are needed
* Setting aside time to Develop your business and marketing plans
* Setting aside time for online as well as offline marketing activities
Before you are actually start your business, you need to think about how you would answer these questions. How much money is needed to start your business? What are the operating costs? Do you already on hand all the resources and equipment that is needed to start your business or will you have to buy, borrow or rent it? If you don’t have sufficient cash or savings to cover the additional expenses beyond those expenses already being paid out of what your full or part time job pays, then how or you going to finance your business venture.
Admittedly, it doesn’t take a great deal of money to start an online business. In fact, chances are that you already have a computer and internet access, just what you need to get started. So why all the fuss about answering the above financial questions? Simple, it’s to stimulate your thinking and help you construct a documented business plan in case you need to raise finance either before or after you start your business.
