A lot of people in this world want their own business, and some of them actually go ahead and make it a reality. They go out and do it.. Talk to the right people, buy the right tools and invest in the right things to make it work in the long run, but what about when you’re just starting out?
That time when you’ve got an idea, you know roughly how to go about turning it into something bigger but you can’t give up your day job yet because you need money to pay your bills. You need an income, right from the get go, so you have to make time for your own business when you get home from your ‘work’.
How do you do it?
This is in response to a question that was emailed in to us, from someone who requested they be kept anonymous. They asked: ‘How do I start my own business whilst still having to work at my day job, it’s hard and I need money coming in, but at the same time I have a lot of energy and ideas for my business and really want to see it take off’.
Great question. The first thing I’m going to say is that I’m actually still in the same position as you at the moment. I have a day job and I need it to cover expenses and work up in terms of an income. That’s not to say I don’t know where I’m going, as I have a clear idea of that. What I’m saying is that I know how to fit my own business AROUND my day job.
I’m going to go ahead and answer this question in the form of a small guide..
How to make time for your business
Consider that no matter how much free time you think you have, you can ‘make’ more for yourself. What this means is that if you start work at 9 in the morning, and don’t get back till 9 at night (most people don’t work that many hours, but we’ll use this as a worst case scenario) you could try getting up at 7-8. It will be hard, of course, but it’s needed in order to move forward.
On this subject, let’s talk about the BEST time to work on your business, regardless of if you have a day job or not. (If you have no other commitments then you should really be working on it full time). When’s the best time? BEFORE you go to your other job. This is very important.
Of course, it’s not always possible, if for example you start work at 4 in the morning (again, unlikely, most people have a 9-5 or an evening job like a 4-11). The reason it’s VERY important to work on your business before you go to work is because you’re using all of your creative energy on your business. If you take that energy and go to work, where you’re told what to do, and often times the work is ‘robotic’, you’re wasting it.
Think about it, in most ‘jobs’ you go there, and go into work mode where you’re not really being creative, but rather ‘doing your job’ and getting bossed around. You’re wiping tables, cleaning things, serving customers food etc, whatever your job is it’s still a ‘set’ type of work and a set of motions. It’s important to not waste your creative energy and drive by just going to work first.
Try if at all possible, to work on YOUR business first, and then go to work, treating it as a way to ‘pay the bills’ and that sort of thing. That doesn’t mean just switch off at you day job, and in fact I’d advise you to do the opposite, try your absolute best at your job, but only AFTER trying your absolute best at your own business before.
Make it easier for yourself to start a business
Starting your own business is much like climbing a mountain, in the sense that it’s hard, and you’re going to need to keep motivated. You will need to make time for your business and often that means giving up a bit of sleep, specially if you’re working full time somewhere else. There are certain things you can do which will make your life much easier in terms of getting off the ground with a business and these are:
- Learn how to leverage things. Things which can be done easier, should be done easier. This means if there’s a way to post to all of your social media platforms at once, do it because it saves you time which could be spent on another aspect of your business. If you have a friend who can do website coding, ask him for a favor, as it will save you time and money.
- Get better at your business. If you’re in the blogging world, learn to touch type. If you’re a builder, take a first aid course and learn the advanced techniques that most people aren’t good at. Separate yourself from the crowd, and keep growing.
- If you have a friend, use them! Not in a nasty way, but in the sense that if they owe you a favor, call it in! Ask that friend you did a favor for a while ago to help you spread the word about your company etc.. If you can get help, take it!
- Look for a mentor. This is something I really wish I had right now, and if you can find one, use them! Look for someone who’s done what you’re trying to do and ask them for advice. This is invaluable and would save you enormous amounts of time and money.
Hopefully by now you’re seeing the theme here. Look for ways to be more efficient and concentrate on the core of your business, what you’re trying to achieve, and then find ways of making the details work themselves out. If you’re starting a blog and don’t know what to write about, firstly, you’re starting the wrong blog but secondly you could try asking any readers you do have for ideas.
Final thoughts
In terms of starting your own business, it can be tough to balance it with your day job and make ends meet, but it’s essential to keep trying. Find ways to make your savings work for you and have and spare money you do have invested in an ISA or stocks etc to get the highest possible returns. This will help you along the road and make sure you have a decent amount of money saved up.
At some point, you’ll have to make the switch from having a day job and that reliability of an income to being entirely self employed and depending only on yourself. I’m yet to make that switch but I’m looking forward to it. It’s a journey and hopefully if you follow this blog you’ll see me walk down that path, and along the way I’ll help you to do the same.