Many dream of being self-employed, but aren’t sure how to make the leap from their current full time job to entrepreneurship. However, there are ways to navigate the time crunch and start your business even while already working 40 hours per week. Use these six tips to become a successful entrepreneur even while you are working full time:
1. Make a Plan
Knowing where you want to go and having a map to get you there is essential to any successful journey. Start by creating a business plan and list all of the steps you will have to take to accomplish your goal. Research similar businesses and learn from their successes (and failures.) Verify the veracity of your idea by ensuring there is a market for it and that you have genuine passions, skills and talents to share it with the world.
2. Leverage What You Have – and Be Grateful
Start by not seeing your current job as a burden; feel gratitude that you have a way to pay your bills. See it as a tool to help you get where you want to be. Use the financial resource for startup costs, and make use of any other benefits your job affords. For example, you might have access to legal advice or discounted supplies. Take advantage of any benefits offered by your current job as you pursue your entrepreneurial goals.
3. Learn and Practice Effective Time Management
Yes, your time will be limited. With 168 total hours in a week, 40 of them will be working at your job. Another 56 will be spent sleeping. You’ll need around 21 hours per week for meals and basic chores. However, that leaves over 50 hours per week to spend on your business. Effective time management may mean spending less time socializing, watching TV or playing games on your smartphone. Identify where you are bleeding precious time and pledge to eliminate or reduce these activities until you have succeeded in your goal.
4. Outsource Whenever Possible
Remember that you don’t have to go it alone – and you shouldn’t. What aspects of your startup process can be effectively and affordably outsourced? There will be certain business elements that only you can do. The rest? Outsource it.
5. Stay the Course
The best approach to any project is measured, methodical and consistent. Try and spend some time on your business most days each week. Refer to your prioritized list and add to it as needed.
6. Stay Inspired
Lastly, keep the faith. At times, doubt and fear may creep in. You are taking a chance on your idea and your dream. Stay focused on your goal and how amazing you will feel once you have achieved your vision. Let the promise of being self-employed motivate and inspire you to reach and exceed your entrepreneurial goals.
Creating your own business while holding down a full time job IS possible – you just have to be committed to your goal and stay the course. With planning, time management, strategic outsourcing and staying focused on your vision, you’ll be able to quit your full time job in no time.
“Remember, wealth has nothing to do with money, success has everything to do with failure, and life is as simple as you make it!” – John Dessauer