One of the businesses that I started was a home-based business. I started this business while I was still working in the corporate world and I’m glad that I did. Let me explain.
When starting any business, it’s hard to beat having a predictable income while in the start-up phase. It takes some of the pressure off. So, I always recommend keeping your day job while planning, launching and even during the early stages of growth of your small business. Of course, this assumes that you presently have a job.
Assuming that you do have a job, depending on your finances, this time at the beginning stages of planning your business might enable you to save some money to be used for certain expenses of your new venture, maybe even to finance equipment purchases.
Don’t think that staying employed is going to make starting a business easy, because I can assure that it is not. It is a two-edged sword. It will take off some of the financial pressure, but it will also require you to be organized and extremely focused. In essence, you will be working two full-time jobs. You will work your “day job” by day and your business at night and weekends. Working 9 or 10 hours during the day and then coming home and working 5-6 or more hours on your business is typical. At least for awhile.
Obviously, in order to work these kinds of hours will require you to give something up. One of the first things will probably be television. But, this is not necessarily a bad thing. Besides, there is nothing quite like the energy and enthusiasm that you will have while working on getting your own business up and running. Of course, television won’t be the only thing that will go on the backburner. Activities with friends and relatives, or even a Sunday drive in the country may have to be put off at least until your new business is under control.
This is a good place for a word of advice and caution. While it is totally appropriate and necessary to put in the hours in the early stages of launching your new business, it is easy to fall into the trap of leaving everything else in your life behind; particularly your family. This article is supposed to dispense my advice and experience as a help to you in this area of starting and owning a small business. Please, please, please don’t allow the balance in your life to slip away to the point that you have a business, but you don’t have a life.
I mentioned earlier that you will have to be organized and focused. The time you put in at working your day job should be quality time devoted to your employer. After all, you are being paid so keep thoughts pertaining to your new business captive while at work. When I say “at work”, I mean while actually on the clock. Your break time and lunch time is new business time. You will be amazed at what you can accomplish in terms of advancing your new business by utilizing those extra moments during the day.
After hours is an entirely different matter. You need to be very organized and very focused so as to keep your new business venture on track.One of the ways to do this is to be definite in the time you are willing to allocate.
Whatever you decide, it is important to stick to the schedule and set goals or benchmarks of achievement of certain tasks or stages.
Another way of staying organized is to have a plan. Right now, you may have a plan in your head, but it needs to be in writing. Just make notes and turn the notes into some form of written outline. If you do this on the computer, you can just throw thoughts on paper (on the screen) for now, and later cut & paste to prioritize what you have written. As you think of more things to be done, throw those into your plan outline. Eventually, you can take this outline and develop it into a full-on Business Plan. But for now, just put your thoughts on paper in outline form as if it were a roadmap getting you from A to B and beyond.