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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.

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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.

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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.

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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!

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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

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Last Updated on August 16, 2018

10 Huge Differences Between A Boss And A Leader

10 Huge Differences Between A Boss And A Leader

When you try to think of a leader at your place of work, you might think of your boss – you know, the supervisor in the tasteful office down the hall.

However, bosses are not the only leaders in the office, and not every boss has mastered the art of excellent leadership. Maybe the best leader you know is the co-worker sitting at the desk next to yours who is always willing to loan out her stapler and help you problem solve.

You see, a boss’ main priority is to efficiently cross items off of the corporate to-do list, while a true leader both completes tasks and works to empower and motivate the people he or she interacts with on a daily basis.

A leader is someone who works to improve things instead of focusing on the negatives. People acknowledge the authority of a boss, but people cherish a true leader.

Puzzled about what it takes to be a great leader? Let’s take a look at the difference between a boss and a leader, and why cultivating quality leadership skills is essential for people who really want to make a positive impact.

1. Leaders are compassionate human beings; bosses are cold.

It can be easy to equate professionalism with robot-like impersonal behavior. Many bosses stay holed up in their offices and barely ever interact with staff.

Even if your schedule is packed, you should always make time to reach out to the people around you. Remember that when you ask someone to share how they are feeling, you should be prepared to be vulnerable and open in your communication as well.

Does acting human at the office sound silly? It’s not.

A lack of compassion in the office leads to psychological turmoil, whereas positive connection leads to healthier staff.[1]

If people feel that you are being open, honest and compassionate with them, they will feel able to approach your office with what is on their minds, leading to a more productive and stress-free work environment.

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2. Leaders say “we”; bosses say “I”.

Practice developing a team-first mentality when thinking and speaking. In meetings, talk about trying to meet deadlines as a team instead of using accusatory “you” phrases. This makes it clear that you are a part of the team, too, and that you are willing to work hard and support your team members.

Let me explain:

A “we” mentality shifts the office dynamic from “trying to make the boss happy” to a spirit of teamwork, goal-setting, and accomplishment.

A “we” mentality allows for the accountability and community that is essential in the modern day workplace.

3. Leaders develop and invest in people; bosses use people.

Unfortunately, many office climates involve people using others to get what they want or to climb the corporate ladder. This is another example of the “me first” mentality that is so toxic in both office environments and personal relationships.

Instead of using others or focusing on your needs, think about how you can help other people grow.

Use your building blocks of compassion and team-mentality to stay attuned to the needs of others note the areas in which you can help them develop. A great leader wants to see his or her people flourish.

Make a list of ways you can invest in your team members to help them develop personally and professionally, and then take action!

4. Leaders respect people; bosses are fear-mongering.

Earning respect from everyone on your team will take time and commitment, but the rewards are worth every ounce of effort.

A boss who is a poor leader may try to control the office through fear and bully-like behavior. Employees who are petrified about their performance or who feel overwhelmed and stressed by unfair deadlines are probably working for a boss who uses a fear system instead of a respect system.

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What’s the bottom line?

Work to build respect among your team by treating everyone with fairness and kindness. Maintain a positive tone and stay reliable for those who approach you for help.

5. Leaders give credit where it’s due; bosses only take credits.

Looking for specific ways to gain respect from your colleagues and employees? There is no better place to start than with the simple act of giving credit where it is due.

Don’t be tempted to take credit for things you didn’t do, and always go above and beyond to generously acknowledge those who worked on a project and performed well.

You might be wondering how you can get started:

  • Begin by simply noticing which team member contributes what during your next project at work.
  • If possible, make mental notes. Remember that these notes should not be about ways in which team members are failing, but about ways in which they are excelling.
  • Depending on your leadership style, let people know how well they are doing either in private one-on-one meetings or in a group setting. Be honest and generous in your communication about a person’s performance.

6. Leaders see delegation as their best friend; bosses see it as an enemy.

If delegation is a leader’s best friend, then micromanagement is the enemy.

Delegation equates to trust and micromanagement equates to distrust. Nothing is more frustrating for an employee than feeling that his or her every movement is being critically observed.

Encourage trust in your office by delegating important tasks and acknowledging that your people are capable, smart individuals who can succeed!

Delegation is a great way to cash in on the positive benefits of a psychological phenomenon called a self-fulfilling prophecy. In a self-fulfilling prophecy, a person’s expectations of another person can cause the expectations to be fulfilled.[2]

In other words, if you truly believe that your team member can handle a project or task, he or she is more likely to deliver.

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Learn how to delegate in my other article:

How to Delegate Work (the Definitive Guide for Successful Leaders)

7. Leaders work hard; bosses let others do the work.

Delegation is not an excuse to get out of hard work. Instead of telling people to go accomplish the hardest work alone, make it clear that you are willing to pitch in and help with the hardest work of all when the need arises.

Here’s the deal:

Showing others that you work hard sets the tone for your whole team and will spur them on to greatness.

The next time you catch yourself telling someone to “go”, a.k.a accomplish a difficult task alone, change your phrasing to “let’s go”, showing that you are totally willing to help and support.

8. Leaders think long-term; bosses think short-term.

A leader who only utilizes short-term thinking is someone who cannot be prepared or organized for the future. Your colleagues or staff members need to know that they can trust you to have a handle on things not just this week, but next month or even next year.

Display your long-term thinking skills in group talks and meetings by sharing long-term hopes or concerns. Create plans for possible scenarios and be prepared for emergencies.

For example, if you know that you are losing someone on your team in a few months, be prepared to share a clear plan of how you and the remaining team members can best handle the change and workload until someone new is hired.

9. Leaders are like your colleagues; bosses are just bosses.

Another word for colleague is collaborator. Make sure your team knows that you are “one of them” and that you want to collaborate or work side by side.

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Not getting involved in the going ons of the office is a mistake because you will miss out on development and connection opportunities.

As our regular readers know, I love to remind people of the importance of building routines into each day. Create a routine that encourages you to leave your isolated office and collaborate with others. Spark healthy habits that benefit both you and your co-workers.

10. Leaders put people first; bosses put results first.

Bosses without crucial leadership training may focus on process and results instead of people. They may stick to a pre-set systems playbook even when employees voice new ideas or concerns.

Ignoring people’s opinions for the sake of company tradition like this is never truly beneficial to an organization.

Here’s what I mean by process over people:

Some organizations focus on proper structures or systems as their greatest assets instead of people. I believe that people lend real value to an organization, and that focusing on the development of people is a key ingredient for success in leadership.

Learning to be a leader is an ongoing adventure.

This list of differences makes it clear that, unlike an ordinary boss, a leader is able to be compassionate, inclusive, generous, and hard-working for the good of the team.

Instead of being a stereotypical scary or micromanaging-obsessed boss, a quality leader is able to establish an atmosphere of respect and collaboration.

Whether you are new to your work environment or a seasoned administrator, these leadership traits will help you get a jump start so that you can excel as a leader and positively impact the people around you.

For more inspiration and guidance, you can even start keeping tabs on some of the world’s top leadership experts. With an adventurous and positive attitude, anyone can learn good leadership.

Featured photo credit: Unsplash via unsplash.com

Reference

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