Tips for Working Full-Time and Running a Small Business
Joey McDowell is an experienced writer and editor originally from the Dallas area. A firm believer in a well-balanced lifestyle, Joey applies this forward-thinking approach as the editor-in-chief of The Idea Trader. He travels extensively to find compelling stories and insightful individuals.
For everyone else, 5 p.m. means the work day is done. But, for you, it marks a transition from employee to employer. Whether you’re looking for skills in a particular field or you just want to boost your income, it’s not uncommon to have a full-time job and side hustle concurrently.
However, being productive in two different roles can be daunting. Read on for tips on how to balance working full time and running a small business.
Organize Your Time
Time doesn’t come easily when you’re juggling a full-time job and a side business. You can devote nights and weekends to your personal enterprise and leave weekdays to your main job. However, be careful not to deprive yourself of sleep. Lack of rest makes you forgetful, less alert, and susceptible to heart diseases.
Aside from monitoring your side hustle, the hours you have to yourself can be used for connecting with other industry players, researching current trends, and taking online courses. To prevent your commitments from clashing, create a schedule and adhere to it.
Differentiate Planning from Implementation
Defining objectives and setting up strategies to accomplish them is crucial to the actualization of any goal. However, when it comes to developing your own business, excessive planning impedes growth. As such, more energy should go into execution as opposed to drafting and reviewing business plans.
To ensure planning and execution don’t mix, designate time every week for pure planning. This is when you can review your finances, evaluate your progress, and identify pending tasks. The rest of the week should be devoted to implementation only.
Outsource the Tasks You’re Not Good At
Managing a business while working all day can consume a lot of your time and energy. As such, you must delegate some tasks to help create a successful enterprise.
Though some may view it as giving up control, outsourcing allows you to concentrate on duties that generate revenue and the ones you’re passionate about.
Examples of professionals you can outsource work to are web developers, copywriters, accountants, and photographers. Away from business, don’t shy away from asking family and friends to help with some chores and other duties, like watching your children when you’re busy.
Solicit Objective Feedback
You don’t want to commit your resources to a product nobody will be interested in. Engaging relatives, friends, and other entrepreneurs allows you to receive honest feedback about a product’s usefulness.
Based on what you hear, you can either incorporate mechanisms to make your business more profitable, switch to another business entirely, or cease work on your business to concentrate fully on your nine to five job.
Ask for feedback only from people you trust. In addition, don’t disclose all the details about your venture. Some might declare your business unviable only for them to steal your idea and advance it as their own.
Be Transparent with Your Boss
Provided you’re not a competitor, it doesn’t hurt to tell your employer about your startup. In addition to being a potential client and source of referrals, your boss is an invaluable asset for business management advice. In addition, you stand to gain exposure from their professional network.
Even so, ensure your part-time hustle doesn’t interfere with official work hours and resources. Before opening up to your boss, review previous agreements with the company to ensure your business doesn’t put you in breach of contract.
Taking the example of intellectual property, you risk being fired and taken to court if your business is similar to your employer’s. Therefore, it would be prudent to change identical sections or leave the job.
Treat Your Small Business Like a Big Business
Even if your company lacks employees and business premises, ensure you portray a professional image to your prospects. Begin with a quality website. This is where customers find crucial information about your business such as products, contact details, and your physical address. Therefore, it should be as user-friendly as possible.
In addition to fast loading speeds, the site should have a balanced color scheme and be compatible with many devices. You should also set up a business number. This safeguards valuable contacts and prevents you from mixing business with personal affairs.
If possible, sign up for a private mailbox. A P.O. Box enables Google to list your business in your area search results, making you more visible to clients. It also makes it easy to receive packages and bills.
Clear Your Head Before Your Work Sessions
Your motivation levels are bound to nosedive after your nine to five routine. Here are some activities to keep stress at bay before beginning your side hustle.
Freshening up relieves stress by triggering the release of mood-lifting endorphins. The cold stream also eases fatigue and keeps you alert throughout your task. In addition, showers enhance blood circulation and improve cardiovascular wellness.
Make it a routine to arrange your workspace before getting down to business. First, cleaning makes it easy to locate items by eliminating clutter. What’s more, the lifting and movement involved is a form of exercise.
Finally, cleaning is therapeutic. It diverts your mind from your worries and focuses your energies on the task at hand.
Listen to Music
Music is perfect for easing tension. Soft music is particularly useful for meditation and silencing turbulent emotions. If you’re not a fan of slow music, however, any music will do. Crank up the volume and dance to your favorite song.
Have an Exit Strategy
Ultimately, you’ll have to quit your job to give your own business your full attention. Therefore, you need to ensure the transition is as smooth as possible. Start by channeling your income into savings and investments. This creates a safety net to sustain you as the business finds its feet.
However, don’t quit your job prematurely. Take time to assess the startup’s profitability over the first few months before declaring it a worthy venture. Similarly, don’t stay in your full-time job too long. Waiting for the opportune moment only predisposes you to burnouts and kills your productivity.
In the long run, your goal is financial independence. Even so, success when working full-time and running a small business demands sacrifice. Implement the above tips and watch your productivity grow.