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Tips to Grow Your Internet Home Business While Keeping a Full-Time Job
While some entrepreneurs boldly go into the role of full-time internet home business owners, others would like to play it safe. It is understandable, especially if you have a family with children. You do not want to jeopardize yours and your loved ones’ financial future. But you still want to try out your business idea, because you believe it could be successful.
What can you do in this case? The answer is simple on the surface: start your business while you are still employed and quit once your business becomes profitable. However, when you start looking into the details, you realize that it is not so simple at all. Keeping a full-time job and running a side business is very hard work, depriving you of most of your spare time in the evening and on weekends.
One top consideration to address before you decide to go ahead is how this will affect your family life. Entrepreneurs have a hectic schedule, especially just after they start their business. Adding that on top of a full-time job and there will be days on end when you will have little to no meaningful contact with your family. You need to address this issue with your spouse and other immediate family members, and make sure that you have their support and understanding.
Assuming that your family is ready to back you up, here are our top useful tips for starting an internet home business while still employed:
1. Make Sure You Do Not Breach Your Employer’s Rules
This is the first thing you need to ascertain before you register and open your business. Many white collar jobs have non-competition or non-disclosure clauses attached to the labor agreements. Usually, these clauses are set up to prevent you from approaching your employer’s clients as an independent contractor, or providing your services to a competitor.
Go through every document you signed with your employer, with a lawyer’s assistance if necessary, and identify to what extent your business idea may breach your non-competition clauses. The rule of the thumb, even if there is no risk of noncompliance, is never to use your employer’s equipment or your work hours in running your business.
2. Network Like Never Before
Networking is useful in today’s business world for employers and employees. For entrepreneurs, it is critical. As a start-up, your business will need to gain exposure to the first wave of potential customers. While your marketing activities will help you gain customers in time, it is important to have something to start with – people who know you and trust your skills and are willing to vouch for you and promote your business to their own networks.
3. Outsource Whatever You Can
Keeping a job and running an internet home business means working around the clock – if you insist on doing everything by yourself for your business. In your particular situation, when you have a stable source of income, it is worthwhile spending money with outsourcing in order to save yourself time to focus on the critical aspects of your business.
4. Do Not Treat Your Side Business as a Hobby
The opposite of spending too much time working on your business idea is spending too little. Perhaps your business idea is your hobby. But you must understand that when you decide to turn it into a business, you need to set aside time every day developing products, refining a business plan, a marketing strategy, identifying your potential market and so on.
If you focus on these aspects only when you have some extra time on your hands, or you feel like doing it, it’s best if you keep it at the phase of a hobby.
5. Atypical Business Hours? Make Them Your Competitive Edge!
Last but not least, you will not be able to serve your customers during the regular business hours, when you are at work. This should not be a handicap, but a cutting edge advantage for your business. You will be available for your customers when your competitors are not – in the evenings and weekends. Instead of apologizing for being unable to serve them during the day, show them how your specific business hours suit their needs in moments when no one else is available.
Last but not least, remember that even after you leave your job, you may find future potential business opportunities through your former manager or co-workers, so make sure that you say goodbye on good terms with everybody.