Being in charge of your own business is pretty appealing. It means that you can be your own boss, and run your company the way you want. However, it also means that you are fully accountable for everything your own business does.
If you are considering starting up a business that you want to run alongside your current full time job, then there are things you need to think about. None of them should put you off of doing it and talking to a good company formation provider, but they should give you a greater insight in to what is expected of you as a business owner!
Your Time Is Not Your Own.
When you run a business, your customers don’t know or care that you have a day job. They only are interested in what you do for them. This means that when you are running a business alongside of your normal work, you will need to be available at all times to help your customers. Your time is no longer your own – you will need to be available to help your clients whenever they need some advice, help or support.
Marketing is Your Job Now.
One of the first things you will discover when you try and run your own enterprise is that the marketing of it is a full time job in and of itself. You’ll need to spend hours worrying about your social media accounts and your general following, and this can be hard when you have a day job. Let us just say this – it gets easier. Marketing your new enterprise may be your job now, but it is your passion and surely it is worth it? If not then maybe you chose the wrong business to start. Learn all you can about marketing, and embrace what you learn. You will be much happier that way.
Take It Seriously.
The main thing you need to take with you when you start a business is that it is important. Take it seriously and don’t let your commitments from your day job ruin it. You need to be a professional and while you may have that in you, you need to stop letting your day job distract you.
Essentially, running a business while you also have a day job isn’t so hard, but it isn’t that easy either. You need to assess your life in a different way. Time you previously thought was free will become time you need to spend on the business and you will need to think about using all your free time to work on the company goals.
Of course, all of this can end up being very rewarding, so if you are wondering about whether to start a business when you already have a job, then the answer is usually yes – you just may need to work harder than you have thought about so far on the side of your regular job!