The economy is unpredictable and having a backup plan is always a good idea. You can work a successful day job and own a business at the same time.
It seems tiring to even comprehend working full time and running a business, but an even balance can be achieved. It is important to remember to schedule your day appropriately and delegate tasks when necessary.
Maintain Work/Life Balance
Hectic is the first word that often comes to mind when you hear someone speaking about working full time and then going to work at their own business. Maintaining a work/life balance in this type of lifestyle is difficult, but it can be done. Make sure that you have a break between your two positions to ensure that you have time to decompress and change work modes.
It is also important to leave the stress of one job at that job and not let it bleed into your personal or business ownership life. Set limits and create a feasible schedule. Remember to stick to the schedule you’ve created as closely as you can to prevent feeling overwhelmed.
Take Time Off from Everything
Nearly all full-time employees are allowed vacation time. Whether it is paid vacation or not, still take it. Even if you are not planning a trip, take the time off to relax at home and participate in activities that you enjoy. This downtime will help you keep your mind focused and less stressed. Take a vacation from both obligations at one time so that you can fully disconnect and decompress.
Do what you Love
If you are working a day job, but also want to own and operate a business, make sure it is in an industry that you love. An example here is someone working in the tech industry wanting to also own a tech-related business. Working as a tech device salesperson gives you ideas to start your own business, like the growing sector of charging devices for tech gadgets. The experience that you have gained from working your day job gives you insight to better inform customers in your separate business.
It does not matter the industry that you are interested in, just make sure it is one that you truly have a passion for to ensure that you do not get burned out.
Make your Boss a Client
It is said that 54-percent of business owners still work a day job to support themselves their first year in business. You can learn a lot from your boss and if your job is in the same industry as your business, you may be able to make your boss a client. It is not a conflict of interest and may become a long-lasting business relationship. Consider starting off as a consultant. Deliver your sales pitch at the right time and learn how to use the rebuttals you were taught to close the deal.
Build a Strong Portfolio
When you are planning to start your own business while keeping your day job, you need to build a portfolio. As you begin to approach potential clients, they are going to want to know what kind of real industry experience you have. Consider this your resume and the basis of your business. It is important to have a portfolio available both in-print and online. Keep a copy of your portfolio with you at all times, you never know when an opportunity to make a sale may arise.
Be Clear in your Agenda
Creating life goals and determining where you want to be and painting the big picture is important. You have to have a goal for your career and your business in order to achieve success in both. Envision how you see your life in 5 years and make adjustments to achieve those short-term goals.
Identify the Gap in an Industry
Your grand idea for a business while still working a day job needs to fill a gap in the industry. If you start a business that is common in your local area, the competition you would have may be too much for a brand new business. The less immediate competition there is, the better chance your business has to survive in the industry.
You are going to have a lot of long days keeping a day job and running your own business. Make sure you have time for stress-reduction every day. It does not matter what your method is, but meditating and yoga are ideal options. If you feel yourself getting a bit overwhelmed, take a step back and re-evaluate your priorities. Make adjustments as necessary and maintain your work/life balance.
About the Author
I am a regular writer for Forbes, Inc., Huffington Post, Entrepreneur Media (among others), as well as CEO and Chairman of Alumnify Inc. Proud alum from 500 Startups and The University of San Diego. Follow me on Twitter @ajalumnify