How to Start a New Business without Quitting your Day Job

Before you decide to start moonlighting to start and run your very own business, it is recommended that you begin by assessing your current employment contract. Some employers usually include a non-compete clause in the employment contract which might influence the type of business you can actually run legally on the side.

Control Your Schedule

Once you have determined that whether you can legally run a business on the side. It is then time to assess your schedule and look at where you can find the time to run the business you have in mind. It is amazing just how much time you can free up by completely owning your schedule. The time you free up can be used in getting things ready for your small business and running it after it is off the ground. Half a day during the weekends and commuting time can prove to be enough when it comes to running a side business.

Develop a Product

In most cases, you need to have a product for sale. Most employees think that they can provide their skills as a service to customers as a side business. However, it is worth noting that providing services requires a lot of time. This is because you can only earn from your side business when you are working in it. On the other hand, developing a product and availing it for sale means that you can continue earning even when you are not working on the side business. You can look to creating a detailed course and avail it as a product for sale to customers.

Find a Great Team

When it comes to running a side business, you will need all the help you can get. With limited time available to dedicate to the business, hiring the right team will help reduce your workload and ensure the success of the operation. Spend what you need to get the right legal professionals and accounting services to ensure that you do not end up wasting time and money in future trying to correct mistakes made at this early stage.

Leverage Technology

Technology has made it easier for us to accomplish complicated tasks faster and with less effort than was the case in the past. As an entrepreneur with limited time to dedicate to the new business, technology can help you get more done faster.