Do you working a full time job but want to start a business? Like me, it is our dream that we own a company but can’t throw away our commitment to current jobs.
Let’s read this step to starting a business when working a full-time job.
Step 1: Find your “why”
Why is it that you want to start a business? Do you want to leave your full-time job and work for yourself? Are you craving the freedom that comes with running your own business? Or, do you simply have a great idea and you want to sell it to make some extra money on the side? Determining your “why” will help you stay motivated during the hard and busy times that lie ahead.
Step 2: Set business hours
When you first launch your business, it’s going to seem like you’re working non-stop (most likely because you are). To avoid getting burnt out, set specific business hours outside of your day job. Ideas include waking up two hours early to work on your business, spending one hour of your time each weeknight working, working half a day on Saturdays, and then taking Sunday completely off. As busy as you’ll be, it’s important to still allow yourself some time for rest.
Step 3: Create a business plan
A detailed business plan will help you work toward your goals and be more efficient in what you hope to accomplish. Starting a business is no easy feat—there are so many details that need to be taken care of, including building a website and social media pages for your business, networking, marketing, accounting, managing employees (if you have any), and more. A business plan will help you narrow your focus and keep you on track (For more, read How To Write a Business Plan).
Step 4: Keep your priorities straight
Even if your ultimate goal is to quit your full-time job so you can have more time with your family, don’t sacrifice that time now. Starting a business will be time-consuming, but it shouldn’t be your whole life. If you’re neglecting your family, friends and other responsibilities in lieu or work, perhaps you need to re-think what it is you want from your life.
Step 5: Set specific goals
When starting a business while working full-time, you have to set clear, actionable goals each day, week and month in order to see growth and not lose your mind. At first, your goals may be tiny—things such as starting a business Facebook page and writing a description of your product. Overtime, your goals will get larger—perhaps making enough money to replace your day job or saving $5 thousand a month. Either way, specific, continuous goals are a must when starting a business.(For more, read Implementing a Small Business Social Media Strategy).
Tips to Manage Your Time When Working Full-time and Growing a Business
There’s no way around the fact that you’re going to be busy when your business is just starting out, and you’re still punching a clock every day. To maintain your sanity, here are three tips for managing your time to ensure success.
You most likely only have 10-15 hours to devote toward your business each week. If that time is spent checking emails and scrolling through Facebook, your business is never going to get to where you want it to be. When working on your business, eliminate all distractions. Turn your phone off, block social media sites from your computer and ask your family not to disturb you unless it’s an emergency.
Hire out work
You’re on an extremely limited schedule, so instead of trying to handle each and every task on your own, hire out the things that you’re the slowest at or have no interest in doing. Perhaps you want to build a website but don’t know the first thing about how to go about it. Instead of spending countless hours figuring it out, hire someone to do it for you. By focusing on your areas of expertise and hiring people to do the rest, your business will grow at a significantly greater rate than if you tried to tackle it all by yourself.
Take time off
No one can work 24/7 forever. We all have our own breaking points, but instead of waiting for it to happen, take steps now to ensure that it never does. The best way to avoid burn out is to take time off. If you can’t give yourself an entire day off, at least allow yourself some downtime during the week and on the weekends. Schedule in time to spend with your family, your friends and doing your own hobbies. You’ll be a happier, more well-rounded business owner by taking care of yourself first.