Advertising
Advertising

17 Steps To Start Your Own Business Even If You’re Working Full Time

17 Steps To Start Your Own Business Even If You’re Working Full Time

Don’t let a 40 hour week working life put your dreams on hold – every spare hour is an opportunity to get your own business up and running. Starting up a company whilst being employed eliminates a lot of pressure, and removes risk.

Follow these steps and begin your journey to being boss of your own successful business.

1. Establish your passion

Has a business idea been brewing inside you for a while now? Buy a new notebook and write it down. Voila! You’ve just made the first step in making this idea become a reality.

2. Set your mission

Establishing your vision is a simple next step, it gives your business focus. Writing a mission statement is about your planned impact on your customers and society; whilst establishing your vision is about where your business is going. Both are integral to starting your own business.

Advertising

3. Evaluate your lifestyle

Next, assess when you can work on your own business. Note down your working hours and any other commitments you may have – kids and family time, hobbies you just can’t live without, and it will soon become clear where there are gaps for your new business working hours will fit.

4. Embrace the digital age

Mobile technology makes working on the go a breeze. Utilize that dead time on the bus to work, or that lunch hour normally spent at your desk watching YouTube videos! That said, do not be tempted to disrespect your current employer by working on your new business during paid hours – remember this job is paying your bills.

5. Make cuts

Cutting 3 hours of evening television down to 1 may sound scary at first, but just like anything in life, it will just become habit. Would you rather watch that episode of Breaking Bad for the fifth time, or work on making your business dream a reality?

6. Do what you love

Okay, so we know that’s very cliché, but if you truly are following your passion, your new business adventure won’t feel like work at all, and making the aforementioned cuts will be easy.

Advertising

7. Consider a friend

Just like having a gym-buddy to motivate you and keep you on track, inviting a friend along at this start-up stage could not only offer much needed encouragement and ensure you’re committed, but could even bring new ideas and skills to the table. Definitely one to consider.

8. Know how

You’ve set out the ‘What’, the ‘When’, the ‘Why’, and the ‘Who’; now to establish the ‘How’. This should include immediate next steps, mid-term goals and long term plans. Write it all out, and add as much detail as possible. This will make a great guide to come back to.

9. Set realistic goals

When setting targets for your business it pays to remember you are doing this alongside your current role. Your goals should be achievable as long as you are aware they’re going to take longer than if you were working on your business full time.

10. Play on your skills

Start with an advantage – your own experience, your skills and your passion are your advantage. If marketing is second nature to you, be sure to utilize your talents. Reflect on the expertise gained in your current role which could be invaluable too.

Advertising

11. Do your research

When playing on your skills, be sure not to be over confident and make assumptions which could later turn out to be costly mistakes. Always research your new business’ field, industry challenges, current trends and best practices.

12. Work on your weaknesses

Even if you consider yourself a Jack-of-all-trades, you will have a weaker area. Consider taking an evening course to learn a new skill, or just brush up on existing skills.

13. Measure & Monitor

You’re working away at your business, you’ve mastered being on top of the accounts, and maybe even achieved some of your initial goals. But don’t carry on blind. Gain insight into your business with statistics, and use the data to assess strategic performance. This will help you define next steps.

14. Use your annual leave

So you’ve set the ball rolling with evenings and weekends spent getting your business off the ground. Now consider dedicating some extra days to give your business venture a push. Use a day or two of annual leave from your current job each month to really work on achieving a goal for your new business. Establishing an achievable target ahead of the day off will ensure you don’t just treat it as a day of holiday!

Advertising

15. Stay inspired by others

You are not the first to start up a business while working full time and juggling other commitments, and you won’t be the last. Read up on what others are doing, and learn from their mistakes.

16. Take the plunge

They say when you know, you know. There will come a time when you take that daunting first step and cut the ties of employment. Be savvy and risk-adverse – be sure you have a fall back plan and savings in place. Make sure you have a plan in place for not only the first few weeks of taking your business full time, but also the months that follow.

17. Keep the momentum going

You’ve done so well to get to a point where you can quit your day job. Starting a business whilst working full-time is no mean feat and you’re on the way to becoming the entrepreneur you’ve always dreamed of! Be sure not to drop the ball, keep the momentum going and work hard. You are a success!

Featured photo credit: David Mulder via flickr.com

More by this author

4 Exciting Games To Play With Your Dog 5 Perks Every Entrepreneur Should Offer To Their Employees 4 Ways To Launch A Better Website With A Smaller Budget 9 Things To Make Travelling That Little Bit Easier Night train at Budapest Keleti How to Sleep Well and Stay Safe on a Night Train

Trending in Entrepreneur

1 How to Succeed in Business: 10 Skills Every Entrepreneur Needs 2 How to Start a Startup Fast: 5 Essential Steps 3 How to Become a Successful Solopreneur and Thrive 4 5 Books You Must Read if You Want to Be a Millionaire in Your 20’s 5 8 Life-Changing Skills You Can Learn in Less Than 6 Months

Read Next

Advertising
Advertising
Advertising

Last Updated on August 20, 2019

How to Find New Growth Opportunities at Work

How to Find New Growth Opportunities at Work

Career advancement is an enticement that today’s companies use to lure job candidates. But to truly uncover growth opportunities within a company, it’s up to you to take the initiative to move up.

You can’t rely on recruiter promises that your company will largely hire from within. Even assurances you heard from your direct supervisor during the interviewing process may not pan out. But if you begin a job knowing that you’re ultimately responsible for getting yourself noticed, you will be starting one step ahead.

Accomplished entrepreneur and LinkedIn Co-Founder Reid Hoffman said,

“If you’re not moving forward, you’re moving backward.”

It’s important to recognize that taking charge of your own career advancement, and then mapping out the steps you need to succeed, is key to moving forward on your trajectory.

Make a Point of Positioning Yourself as a Rising Star

As an employee looking for growth opportunities within your current company, you have many avenues to position yourself as a rising star.

As an insider, you’re able to glean insights on company strategies and apply your expertise where it’s most needed. Scout out any skills gaps, then make a point to acquire and apply them. And, when you have creative ideas to offer, make it your mission to gain the ear of those in the organization who can put your ideas to the test.

Valiant shows of commitment and enterprise make managers perk up and take notice, keeping you ahead of both internal and external competitors.

Employ these other useful tips to let your rising star qualities shine:

1. Promote Your Successes to Your Higher-Ups

When your boss casually asks how you’re doing, use this valuable moment to position yourself as indispensable: “I’m floating on clouds because three clients have already commented on how well they like my redesign of the company website.”

Advertising

Tell your supervisors about any and all successes. Securing a new contract or signing a new customer should be a cause for celebration. Be sure to let your bosses know.

2. Cultivate Excellent Listening Skills

Listen well, and ask great questions. Realize that people love to talk about themselves.

But if you’re a superb listener, others will confide in you, and you’ll learn from what they share. You may even find out something valuable about your own prospects in the company.

If others view you as even-minded and thoughtful, they’ll respect your ideas and, in turn, listen to what you have to say.

Check out these important listening skills: 13 Powerful Listening Skills to Improve Your Life at Work and at Home

3. Go to All Office Networking Events

Never skip the office Christmas party, your coworker’s retirement party, or any office birthday parties, wedding showers, or congratulatory parties for colleagues.

If others see you as a team player, it will help you rise in your company. These on-site parties will also help you mingle with co-workers whom you might not ordinarily have the chance to see. For special points, help organize one or two of these get-togethers.

Take the Extra Step to Show Your Value to the Company

Managers and HR staff know that it can be less risky – and a lot less costly — to promote from within. As internal staff, you likely have a good grasp of the authority structure and talent pool in the company, and know how to best navigate these networks in achieving both the company’s goals and your own.

The late Nobel-Prize winning economist, Gary Becker, coined the term “firm-specific,” which describes the unique skills required to excel in an individual organization. You, as a current employee, have likely tapped into these specific skills, while external hires may take a year or more to master their nuances.

Know that your experience within the company already provides value, then find ways to add even more value, using these tips:

Advertising

4. Show Initiative

Commit yourself to whatever task you’re given, and make a point of going above and beyond.

Position yourself so that you’re ready to take on any growth opportunities that present themselves. If you believe you have skills that have gone untapped, find a manager who will give you a chance to prove your worth.

Accept any stretch assignment that showcases your readiness for advancement. Stay late, and arrive early. Half of getting the best assignments is sticking around long enough to receive them.

5. Set Yourself Apart by Staying up on Everything There Is to Know About Your Company and Its Competitors

Subscribe to and read the online trade journals. Become an active member in your industry’s network of professionals. Go to industry conferences, and learn your competitors’ strategies.

Be the on-the-ground eyes and ears for your organization to stay on top of industry trends.

6. Go to Every Company Meeting Prepared and Ready to Learn

A lot of workers feel meetings are an utter waste of time. They’re not, though, because they provide face-time with higher-ups and those in a position to give you the growth opportunities you need.

Go with the intention of absorbing information and using it to your advantage — including the goals and work styles of your superiors. Respect the agenda, listen more than you speak, and never beleaguer a point.

Accelerate Your Career Growth Opportunities

A recent study found that the five predictors of employees with executive potential were: the right motivation, curiosity, insight, engagement, and determination. These qualities help you stand out, but it’s also important to establish a track record of success and to not appear to be over-reaching in your drive to move up in your company.

Try to see yourself from your boss’s position and evaluate your promote-ability.

Do you display a passion and commitment toward meeting the collective goals of the company? Do you have a motivating influence with team members and show insight and excellence in all your work?

Advertising

These qualities will place you front and center when growth opportunities arise.

Use these strategic tips to escalate your opportunities for growth:

7. Find a Mentor

With mentorship programs fast disappearing, this isn’t always easy. But you need to look for someone in the company who has been promoted several times and who also cares about your progress.

Maybe it’s the person who recommended you for the job. Or maybe it’s your direct supervisor. It could even be someone across the hall or in a completely different department.

Talk to her or him about growth opportunities within your company. Maybe she or he can recommend you for a promotion.

Not sure how to find the right mentor? Here’s How to Find a Mentor That Will Help You Succeed.

8. Map out Your Own Growth Opportunity Chart

After you’ve worked at the company for a few months, work out a realistic growth chart for your own development. This should be a reasonable, practical chart — not a pie-in-the-sky wish list of demands.

What’s reasonable? Do you think being promoted within two years is reasonable? What about raises? Try to inform your own growth chart with what you’ve heard about other workers’ raises and promotions.

Once you’ve rigorously charted a realistic path for your personal development within the company, try to talk to your mentor about it.

Keep refining your chart until it seems to work with your skills and proven talents. Then, arrange a time to discuss it with your boss.

Advertising

You may want to time the discussion around the time of your performance review. Then your boss can weigh in with what he feels is reasonable, too.

9. Set Your Professional Bar High

Research shows that more than two-thirds of workers are just putting in their time. But through your active engagement in the organization and commitment to giving your best, you can provide the contrast against others giving lackluster performances.

Cultivate the hard skills that keep you on the cutting edge of your profession, while also refining your soft skills. These are the attributes that make you better at embracing diverse perspectives, engendering trust, and harnessing the power of synergy.

Even if you have an unquestionably left-brain career — a financial analyst or biotechnical engineer, for example — you’re always better off when you can form kind, courteous, quality relationships with colleagues.

Let integrity be the cornerstone of all your interactions with clients and co-workers.

The Bottom Line

Growth opportunities are available for those willing to purposely and adeptly manage their own professional growth. As the old adage says,

“Half of life is showing up.”

The other half is sticking around so that when your boss is looking for someone to take on a more significant role, you are among the first who come to mind.

Remember, your career is your business!

More About Continuous Growth

Featured photo credit: Zach Lucero via unsplash.com

Read Next