At some point or another, most people think about starting a business but never take the first step. One of the most common reasons to not take that first step is because you already have a job. But, with the right approach it is possible to start a business while keeping your day job.
Why not quit? – There are some valid reasons to not quit your job, but the reality is you may not need your job as much as you think.
You need the money – Money is a key factor during the start-up process of a new business. If you can secure enough capital or a line of credit, you may not need your job to keep you afloat. You may want to keep your job as a safety net, but safety nets don’t always lead to better overall performance.
You’re unsure about your idea – If you don’t have a good idea yet, you probably shouldn’t quit your job. While this is a valid reason, why not spend more time developing your idea?
If you have considered any of these reasons to not quit your job, and you still aren’t convinced it’s a good idea, follow these strategies to start a successful business without quitting your job.
Be Realistic – First, be realistic about how much you can handle while still maintaining your job. There are only so many hours in the day, and you will have to commit to one or the other eventually.
Focus on the idea – You won’t be under the gun with deadlines, and you won’t be strapped for cash, so make the most of this time by developing the best business plan you can.
Networking – The wider your range of professional contacts is, the more options you will have when it comes to growing your business. You never know when or where you could meet a potential partner, client, or employee.
Take baby steps – Never rush the process of starting a new business, take your time and slowly advance your idea forward. Test the waters.
Tread carefully – If you spend too much time on your business, your professional work will suffer. Find a health balance to keep both moving along well.
Remember, there is no perfect time to start a business.