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Starting Your Business Whilst Still Working By Naz Daud

  in Business | Published 2011-06-28 22:44:09 | 120 Reads | Unrated


When it comes to starting a new business some people think they have to make the leap from being employed to being self employed all in one go However, this can be the worst way to try and do things

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When it comes to starting a new business some people think they have to make the leap from being employed to being self employed all in one go. However, this can be the worst way to try and do things.

The chances are you will eventually want your new business to fully support you and your family. There is nothing wrong with this – in fact it is an admirable goal to have – but, in order to get there you have to put a lot of work in. You also have to face the fact that your business may be operating at a loss to start with.

This can put unnecessary pressure on yo
u, your business and your family - especially if you leave your job and start your new business at the same time. It may seem to be a sensible choice to begin with; after all, you are devoting 100 per cent of your time to your new business. You are also taking away the security of having that regular money coming in while you build it from the ground up - could you live with doing that and keep everything going at the same time?

It can be easier to do this if you have a partner and you both work. You may be able to come to an agreement to cut down on bills and household goods and reduce down to one stable pay cheque while you get started. However, if your partner should lose their job for any reason you don’t have any leeway at all to work with.

The downside of keeping your regular job going while you build your business is that you have far fewer hours in the day to work with. This doesn’t make it impossible to start moving in the right direction though. Many people work from 7.30am to 5.30pm every week day, then come in from work and spend the evenings developing ideas and a client base for their own business. It can be tough at first while juggling both jobs, but after a reasonable amount of time, they are able to leave their full time employment and launch into a home run business that was already paying them more than their employed position.

It might be difficult to balance the two together initially, but it can actually result in a faster route to success. If you try and build up a business while you are worrying about paying the mortgage and the bills, you can end up going wrong and finding yourself back at square one. Having the security of a regular income while you develop your own ideas for a home run job is the best way to make sure you don’t rush into anything and ruin it as a result.

You may well be desperate to leave your employed position, but hang onto it for a few more months if you can. It could be the best thing you do for your new business.


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