The tradition of 9 to 5 has continued throughout generations encouraging the pursuit of life’s so called rat race.
People spend most of their daily lives on job, which can become nerve-wracking, but those with entrepreneurial genes have something else in mind. To date, every 1 in 3 and every 3 in 10 Americans have a side hustle, claiming that they need to make ends meet.
Initially being a jobholder, most people don’t set out on the road to entrepreneurship. As they keep bagging experience, some want to choose their own path, while others want to be their own boss. There could be any motivation, while stepping out of the job and choosing the entrepreneurship lane is indeed risky.
Does this approach work for everyone? Probably not because there are certain limits that cross the path and makes it quite tough. But it does have some perks. Let’s read below.
Pros Of Starting A Business With Your Job Side-By-Side
While one might think of a side business as a waste of time, it actually helps you build your skill security. Thinking of leaving your job might sound scary and your current position remains at a risk, but with a business by your side, you fortify your earning resource. You receive a guaranteed income even if you are working on your business and running it simultaneously.
Even if you’re going to keep your job to stabilize your business, you can always approach your colleagues and superiors for advice to develop certain areas of your business. You can even engage in professional networking to start interacting with business owners like yourself.
As soon as you’re going with both portals, each will help you grow your experience. If you’re stuck on the business front, the job skills might help you cut the issue short and vice versa.
Cons Of Starting A Business With Your Job Side-By-Side
This is the dilemma every side hustler has to come across. Even if they’re fully employed, running the business in the later hours can hurt the health and decrease the overall quality of life. You start losing sleep, become more consumed, and lack time to give to your business properly.
The struggling balance hurts when you treat the business more of a hobby than a professional occupation. Sure, your business might be born out of a hobby, but as soon as you turn it professional, you need motivation to make your business work, or else, you’ll remain on the brink of sink-or-swim entrepreneurship and might even refrain from investing heftily into your business.
Managing Your Side Business With Perfection
It can be hard and may compel you to give up your sanity or even pull your hair out of your head. It’s still possible to manage your side business with a growth mindset. Follow these practical ways to manage and organize your job and your business in the same lane.
Keep Your Job And Startup Separate
When you have two priorities, its best to run both in their respective times. For instance, if you’re a designer by day, you can be a motivational speaker or even a tutor by night. As long as you keep both of them separate, you might be able to put your dedication to some good use.
If your company has rules that forbid starting your own company or working with your colleagues, or working another position at a different place, you might want to sit down and go through the contract carefully. Make sure you aren’t mixing up startup tasks with the ones at the office.
Don’t Bite Off More Than You Can’t Chew
When projects start flooding in your startup, you can’t be happier than you’re overwhelmed. You might to take up on every project you come across, but think for yourself: if you’re already burdened up with work at job, you can’t possibly handle the workload. Let’s suppose if you’re trying to cope up with pressure from both sides, you’ll end up exhausting yourself.
If you’re burned out at work, lighter work on the side can help you keep your calm and allow your creativity to flourish, without exhausting you. Better to take the essential ones than overworking yourself.
Choose The Right Tools
If you’re doing a job and have started a side, you know that your tasks can be managed more easily with tools. Juggling both is an art that can only be achieved with not many tools, but with the right tools managed effectively. For instance, you can automate social media posting for your business while you’re at work, or schedule instructions to dispatch product at certain times.
You can even see how users are interacting with your business without having the need of you being there. You can simply manage your business with a single app or software and make it more organized.
Start Looking For The Right People
Unless you’re aiming to work alone, you will eventually have to hire people to work with you on your side business. At that point, nothing sounds better than bringing in a partner whose skills compliment yours.
If you’re a marketing professional, partnering with a tech savvy will help fill the gaps in your knowledge. As for the team, look out for people who are ready to commit and adapt to a challenging work environment. To find the right person or a professional team, scour the local directories for people interested in joining a business venture.
Accept Help And Advice
Whenever you’re stuck at your business venture and your business didn’t turn out to be the way you figured, there comes a time when you need to turn to someone for advice or help. Honestly, there’s no shame in asking for advice when you need it the most.
As mentioned earlier, your job is the ideal spot to look for advice related to your business. Colleagues, coworkers, and bosses can be approached for advice. Some might give you honest suggestions while others may hesitate, but it’s probable that you might receive the advice you need.
Before setting out on a journey to establish a side business, you need to evaluate all the risks that you might stumble upon. Carefully consider your chances and plan ahead. Using the tips above and many others, you can still welcome the prospects in your career path – whether it be your job, business, or both.