6 Steps to Starting a Business While Working a Day Job
Many 9-5 workers are looking for ways to build a side business while still working on their day job.
Many people still wonder if it is still possible to build a business and still continue their day job.
This might come as a surprise to some, but the answer is yes. It all comes down to your level of desire, commitment and determination. At the beginning you might wonder how you will be able to have the time for your business and still be able to deliver at your day job.
Here are steps you can follow to build a business while working a day job and a few strategies you have to consider also.
Do a Self-Introspection
Self-introspection entails examining yourself by asking yourself some questions that will help you discover the underlying reasons for having a side business while working a day job. The truth is building a business especially if it is alongside your day job is quite challenging. And you must be mentally prepared to face the challenges, if not, there is the likelihood that you might give up.
And one of the basic ways you can mentally prepare yourself is by knowing your ‘’why.’’ Why do you want to build a business while working a day job? You must be able to clearly define the underlying reasons and these reasons must be strong enough to always keep you going even when you encounter difficulties along the way. You also need you ask yourself some questions like:
What does building this business require?
What skills do I need acquire that will help this business to grow faster?
Can I build this business all by myself? If not, who do I need to work with?
What can I do to make this business better?
You need to do research in order to answer the questions you got during your self-introspection. There are lots of resources available online that help you in getting answers to your questions.
Another thing you need to do is market research. If you truly want to build a successful business alongside your day job, then doing market research is non-negotiable. You have to research about:
The product you intend to sell, the market demand for it, the profitability and how can you go about selling, your potential customers, who they are, what they like and will be willingly to pay for, your competitors especially the ones that are also building their businesses while working.
Research on who they are, what they are doing, their strength and weaknesses, how you can improve on their weaknesses, what is the edge you have over them?
Doing this help you gather the necessary information which will serve as the raw materials needed to build your business.
Develop your Capacity
It implies growth; growth in knowledge, skills, and talents. The thing is that you cannot do more than you have the capacity to handle. And more capacity will be required to build a business alongside with a day job. To develop your capacity, you need to take inventory of yourself in relation to the business you want to build.
What set of skills do you need to build your business?
Why do you think you need the skills?
What will it cost you to get these skills?
And how can you get these skills?
What are the entrepreneurial qualities you need to develop?
As an entrepreneur, you need persistence, focus, optimism, positive mindedness, eyes that sees opportunities, creativity, passion and many other qualities. If you don’t have these qualities yet, then you have to learn how to develop it because it will go a long way in helping you build your business while working a day job.
Develop the Spirit of Intrapreneurship
Being an intrapreneur entails that you start acting like an entrepreneur in your place of work even though you are an employee. It entails taking the organization you are working with like your own and going extra miles to ensure its success and growth. It entails going out of your way without your organization input to develop the necessary skills and expertise that will advance the growth of your organisation.
It entails taking up initiatives that will help your organization achieve their goals and objectives without actually being told to do so. It is about thinking through the solutions to the challenges and problems your organization is facing.
The thing is that the habits and attitudes you have towards the day job you are doing is what you will carry over to your business. You cannot develop new habits and attitudes overnight when you start building your business. But being an intrapreneur enables you to develop the attitudes, habits and qualities that will help you when you to build a successful business.
One of the things goals do for you is that it keeps you focused, and it enables you to focus on doing the important and necessary things. Working in a day job and building your business alongside require a lot of time and resources.
And besides these, you also have personal matters to attend to. so, in order to be effective and balanced so that building your business does not affect other important aspects of your life, you must identify the important things, set goals in achieving them and outsource the less important ones. This will help you not to become overwhelmed and inefficient.
Learn from Forerunners
You don’t have to go through the stress of re-inventing the wheel. There are some people who have gone ahead of you that you can learn from. Learning from your forerunners who have already build their business gives you insights into how you can also go about building yours in a better way.
You will also learn about their mistakes and how to avoid it. And this will save you a lot of time and stress. So, get someone who as successful build a business while working a day job and start learning from the person. You can also get coaches who specialize in doing this.
To be sincere, building a business while working a day job can be very challenging, but I can assure you that if you are able to do all that are listed above, then your journey will be easier.