Don’t Ditch your Day Job at Business Startup

It is not always practical to ditch your day job at business start-up. For one thing you need a steady income to pay your bills, like mortgage, utility bills, etc. Sure, you need to work full time on your business eventually, but you can make the transition gradually. This way you have an income from your regular job, while you built on your business.

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Below you find some tips how to keep you motivated while working part-time on your business:

1. Find a partner
If you don’t have a co-founder then try find one or find a business partner. For a part-time effort, they are essential to keep you on track and working. At some point, you’ll hit a motivation wall. If you have a partner, you don’t want to let him/her down, so you will keep on working even if the motivation is gone. Also you can discus your motivation problems with your partner and together you can find a way to fix that problem.

2. Point in the week
Pick a day (or more) per week when you work on your business. Preferably you work in the same room as your business partner or your co-founder. And stick to that day, don’t make up excuses, always work that day. This schedule will keep your business building on track.

3. Set targets
You have to set targets. Especially the target when you think it will be safe to start working on your business full time. Discuss this with your co-founders or business partners. Nothing is worse than one person of the team is ready earlier to go work full-time on the business before the other person is ready. So set a target and both should stick to it.

4. Pick a tractable idea
Always pick a tractable idea for your business, because you start a business on a theory and you don’t have a lot of time to test that theory. Some ideas won’t work if you only have time to work on it part-time. So be flexible. Test your idea quickly and if it doesn’t work, change it to something that will work.

5. First versions
Most first versions of a product or service are probably going to suck. The sooner you understand this the better it is. It will keep you away from disappointment and motivation problems. No first version is going to be a hit. Just make it a little better every week until you, your business partner(s) and most of all your customers, are happy with the result.

6. Regular Job
Everybody use some time for themselves when they are at work. One person gets a cup of coffee and the other likes to browse a little on the net. If you are smart you use that time also for your business start-up.

An example: if you’re a coder, then read about new things and techniques in your field. This is good for you and for your boss. And the best thing is, the knowledge you gained you can use for your own business.

But remember, always and I mean always do the job where you are paid for. It is a thin line between using your cool down time at work for your business start-up and stealing time from your employer.

One thing: make that you only learn in the time from your employer. Anything that is build or written during working hours is technically owned by your boss. So if you program the next FaceBook during working hours, it is technically from your boss. (And they will most likely win if they fight it out in court.)

In conclusion
Try to keep motivated and try to pass the “hobby” or part-time phase as soon as possible!
Best of luck for you and your business!

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One Response to “Don’t Ditch your Day Job at Business Startup”

  1. Is a day job necessary for a startup owner? « Bibek Paudel’s weblog on August 16th, 2009 08:13

    […] MoneyAside – Don’t Ditch your Day Job at Business Startup […]