Thinking about starting a business? Though it may be tempting to put in your resignation at your day job, you might not want to give up your full-time employment just yet. - A lot of successful entrepreneurs have started profitable businesses while keeping their office jobs. How do they find the time, energy, and mental capacity to handle both—and do both of them well?
Know what you've signed.
Remember that sheaf of paperwork HR gave you when you started your job? Check your file cabinets and make sure you didn't sign any agreements that prevent you from moonlighting or a non-compete agreement that will prevent you from launching your business for a certain period—and get legal advice if necessary.
Take baby steps.
There is absolutely no way that you're going to be able to launch a new business overnight. It's going to take time - maybe even years. There's no need to rush in and suddenly devote 40 hours to some nonexistent business on top of your already hectic schedule. Ease into it. Take baby steps.
Validate your idea
There are only 24 hours in a day, and most of those hours are dedicated to your job, your commute, and sleep, it's essential that you prove your concept before anything else. Holding down a day job means having only so many waking hours to devote to your side venture. That's why validating that your idea will work—and that people will pay for it—should be priority No. 1.
Assess your finances and skills
One of the first and most important considerations in your decision to start a new business is your financial standing. Keeping your regular job when you first launch your business does help reduce the financial burden of start-up costs, but before you get too far into your business plans, make sure you are, in fact, accounting for those costs with your current salary.
Respect your employer's time
If you determine that you're legally cleared to start your business while employed at your current job, you'll need to be respectful of your employer's time. For the new entrepreneurs that want to start a side business, take a careful inventory of your work-life balance and the costs and benefits of starting a new career path. If the negative aspects outweigh the positive, it may not be the right decision for you.
Find a co-founder.
Launching a new business is serious work. Launching a new business while holding down a full-time job can is brutal. That's why you should find a co-founder for your start-up. Co-founders can bring a different set of skills to the business. Let's say you're a good marketer, but don't have the coding skills to build a website or app. A co-founder with those skills will save you time and money while making you more attractive to investors. Co-founders share the workload and stress, offer a listening ear. They are your brainstorming partner and increase your productivity.
Throw away the Distractions
You should, however, limit your distractions. You need to spend that time focusing only on your business. Have a quiet place to work in your home. Turn off your Smartphone. Get off of Facebook, when you should be doing influencer outreach. Only do one thing at a time. The research on the multitasking is beginning to show the truth of the matter, that multitasking is a myth. Do one thing at a time. Do the task faster, but just one task at a time. Removing distractions will boost your productivity so that you can achieve your business launch date.
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