We are at a time in the world where we have Unlimited potential. Before now, never have we experienced a vast increase in the number of young entrepreneurs who have their own business and work for themselves.
Almost everyone who works at a job says this, either in your mind or in your dreams. You just want to get up from your desk or office space and say am done.
So why not?
Erm, about a thousand and fifty one things, like how you are going to feed yourself, mortgage, rent, utilities, school fees and the list is endless. You are wondering how am I going to manage this side business while still working full time.
Well, here are 8 proven ways to successfully manage your business while working full time.
- DONT GET FIRED
It may seem like a very reasonable idea to “create a better version of the company where you work”. Wrong. Actually Very wrong. You need to read through your employment contract and other legal documents you signed, it is clearly stated there that you can’t compete with them or come up with ideas similar to theirs and if you do, it belongs to the company. You need to come up with an idea or business that is totally different from where you currently work, possibly and preferably your passion. This takes away the possibility of future law suits, should you become successful. It also helps not to destroy relationships that could be useful to you someday.
It also may not seem like a big deal, but do not work on your side business during company hours or time. You also should avoid using company resources like computer, internet, notebooks, subscriptions, and the likes no matter how tempting and free it may be.
You have to be willing to put in the time, effort and commitment. Write a list of the free time you have (including that 40mins you spend on Instagram and Snapchat before bed) and possibly lessen some of the time spent on these activities, so you can spend more time on your new venture.
Things will get rough and tough, possibly little time for relationships and friendships. You can prepare them for this journey but you have to also be prepared to make tough choices and be willing to commit to your work.
- RIGHT IDEA?
The fact that you have a great idea does not mean the market will agree with you. You need to reduce start-up risk by testing out your ‘idea’. First, just as the start-up guru Steve Blank says “You need to get out of the building” to interview your prospective clients or customers and see if they actually have the problem that you think your ‘idea’ can solve. You will learn a lot from this mini interviews.
Questions that you need to ask are:
- How big is their problem?
- How are they solving it currently?
- Will they be open to solve it in a different way?
- How will they use your ‘idea’ to solve their problem?
Another method is to use the outreach of the internet since the method above requires you taking time off work to actually go out and meet people. Use google AdWords to see if people are using google to search for answers related to your ‘idea’. If there are, congratulations, this means you have customers/ clients waiting for you. You can also carry out a survey by asking questions on social media sites like twitter, Facebook or Instagram.
- WEAKNESS, STRENGTHS & INTERESTS
I have validated my idea and am sure am on the right track. Good for you. Now is the time to write down and note the different aspects of what your company or services will entail. The general idea would be to do it all by yourself until you start up fully. (Come on, don’t be parsimonious and you don’t have super powers). Be positive about the aspect of the start-up you can handle yourself, those are your strengths. Be sure about the part you think you can learn online and handle, those are your interests. The parts of the job where you have no interest and are not willing to learn, those are your weakness, so hire a virtual assistant and outsource your weakness. Let them set the stage for your business to be viable and support you and your dreams. These are great investments.
- NOT SO GREAT INVESTMENTS
Don’t spend on things that can be put on hold, or you generally don’t need for a start-up.
- Expensive Branding
- Expensive logos
- Renting office space (work from your house)
- Expensive laptop, equipment or instruments
- GENERATE REVENUE AND NETWORK!!
There is nothing that gives you more satisfaction emotionally as a ‘paying customer’. This is what transforms your ‘idea’ to an actual ‘business’.
A paying customer/client changes everything, the fact that they are willing to pay for your product or service is a big plus. They also give free advertising by word of mouth especially if you deliver a good product or service. Recommendation of your product or service from one paying customer to another willing customer is a blessing.
After you first paying customer and their positive feedback, this is the time to network. This is when you can take a little step back from your company work, request lesser time or hours if possible. Network like you’ve never done before, attend networking events, use the internet, make use of your virtual resources, and speak to people at your company (during breaks, if permitted). Look for possible clients, possible employees, advisors, mentors, possible contractors, possible investors (if need be). You might meet someone, who knows someone that needs your product or service. GET MOVING!!!
- QUIT WITH A SMILE
When and only when you have taken the above mentioned steps and you have a growing business, paying customers/clients, advisors/mentors, an idea of how to reach a larger market or audience and you are using your virtual resources/assistant to help you grow your business and give the world a more professional company. Then you can say Am done and quit with a smile.
Many times you would feel you are not ready to quit because you have become accustomed to the stability your current job offers, so there is no real perfect time to quit than to just say ‘ Am going for it’.
By the way, it’s much easier to read this write up than to actually put it to use or implement it. I need you to imagine yourself getting up in the morning and going to work, only this time your company logo is on the building, the freedom and joy in doing what you actually want to do. Ok, you can stop imagining now and get started on your ‘idea’.
Your future as an entrepreneur awaits you.