Given our less than inspiring economic scenario, having just one job no longer cuts it. And, with the prospect of getting laid off lurking behind every meeting, job security has become uncertain. This is why a large percentage of our working population is now looking to start their own business in the hopes of getting a more secured and profitable future.
Before you start investing what’s left of your savings account, there are a few things that you first need to consider. For one, you need to honesty evaluate if you have the time and the passion to take on two things at once; that of staying employed and starting your own business.
While the prospect of saying sayonara to your boss is tempting enough, it is actually more beneficial for you to stay employed as you slowly learn the tricks to starting your own business. Also use this time to do an initial run to check whether your market is ready for your potential company. There is no sense in quitting your job only to end up with a business that won’t take flight. Plus, maintaining your monthly salary can beef up your capital and allow you to have a more liquid cash flow.
What to consider before taking that big leap?
Taking on the challenges of a career and a business is no easy feat. In fact, not everyone can confidently and efficiently handle just one of these tasks, let alone both. But if you are dead set on powering through, there are a few things you might want to mentally and physically prepare for. Along with the long hours you will need to put in, you can also say adios to your night life and weekend getaways, especially at the onset. As you will be juggling the two jobs at once, be ready to take on more stress than usual.
If after weighing all the pros and cons, you are still standing firm on your decision, then these tips will help you be successful in both your full time job as well as your side business.
1. Developing a Sound Business Concept
Vital to the success of any business lies in its “likeability” factor. Your business idea should be one that can excite your target audience and prompt them to pick your product or service over others.
2. Setting Out Objectives and Timelines
With your business plan in mind, you can now begin to thresh out your schedules and goals. Transitioning from being employed to self-employed can be complicated but by mapping out your course of actions for the next few months or even years, you can help make your move from an employee to a business owner much smoother.
3. Setting your Limitations
As much as you want to take on both tasks efficiently, managing two jobs at once means that you will have to put in place certain boundaries and parameters. Instead of spending your weekends doing over time work at the office or meeting clients, you will have to set aside this time to concentrate on growing your business.
As times get tough, many of us are left with no other recourse but to spread ourselves a little thinner by taking on new opportunities to earn. But as with any undertaking, the success of your career rests on whether you have what it takes to keep up with the demands of both your work and business.
We work with new businesses every day at TruckerToTrucker.com. With all kinds of commercial trucks for sale, as well as standard box and refrigerated trailers, we can help you find the work vehicle necessary to start your business and make the leap to self-employment.
