Career Testing
Career Testing
Career Testing
ENTREPRENEURSHIP / MAY. 14, 2014
version 7, draft 7

How to start a Business while Working Fulltime

Tough economic times and constant inflation has forced some careerists to try other means of earning extra daily bread. While many go for vocational training to get that dream promotion, others are content with their positions and have decided to give entrepreneurship a try. The daunting task however is to ensure career performance while at the same time maintaining business progress. And thus begs the question, what should a careerist do to pull this off?

#1 Delegate leadership to a Trustworthy Manager
As an entrepreneur, you would like to have someone to watch over the affairs of your business full-time. This of course is impossible on your part because you are dedicated to your career. You'll therefore have to delegate authority to a manager you can entrust with overseeing overall activities in your business. In addition, this manager has to exercise competence and integrity. The manager's background should also be devoid of any criminal record because the last thing you want is to pay hefty penalties to the authorities for illegal activities in your business premises. Delegation is also beneficial on your part since it helps you focus more on your career and reduces chances of under-performance or loss of your job.

#2 Practice Financial Disciplines
It's every entrepreneur's dream to have a rapidly booming business. However, it's also really important to hold your horses and work with what's within your budget. Indeed, ambition gives one the motivation needed to ensure business progress but at the same time, reality is the yardstick that measures its legitimacy. The business shouldn't be financially burdensome. In fact, it should propel your financial stability since that was the key motive behind starting it in the first place. Financial institutions always advertise mouthwatering loans that are easier taken than repaid and many inexperienced entrepreneurs fall prey to them. What they don't realize is that they risk facing the disappointment of forfeiting their business to banks as collateral for their unpaid dues. Therefore, it's really important to calculate your steps carefully when making any significant financial decision regarding your business.

#3 Consult widely with Experts
As a careerist, you hate wasting time and you like having results. Therefore, before you venture into any business, you've got to ensure that you'll gain returns to avoid being a 'trial and error' entrepreneur. And what better way to predict business success than to talk to those who've been there and done that. Experts in a particular business niche tend to have intricate details regarding seasonal trends and challenges that one is likely to face. These are the people you should consult extensively and establish meaningful business relation with. In fact, befriending them might save you hefty consultation fees during times of business crisis.

#4 Avoid conflict with Company Policy
Companies have been known to carry out unexpected audits of their employees to find out if they're affiliated to any activity that goes against company policy. It's therefore necessary to familiarize yourself with rules and regulations regarding engagement in business activities outside company premises. It would be unfortunate if you're abruptly summoned by the company disciplinary committee for obliviously violating a company policy thus costing you your much needed job.

#5 Encourage yourself with Positivity
The social life of a careerist can be the greatest hurdle to their business progress. While some careerists get overwhelming support from friends and family, others feel like they are on a lonesome walk because everyone discourages them and keeps reminding them why it was a bad idea to venture into the business in the first place. At this point, it would be wise to distance yourself from the negativity and isolate yourself with positive books and videos. Plus, you can connect with like-minded individuals who share the same ideals as you. Ultimately, it’s essential to be less dependent when it comes to motivating yourself to forge your business ahead.

The business world is not a rosy affair. The infancy stage is particularly the hardest one since establishing your business firmly in a particular niche takes plenty of time, effort and financial commitment. In addition, volatile economies tend to come with rude and unexpected surprises. This burden is particularly hard for a careerist who tries to strike a balance between his work and his business. With this in mind, it's important to be psychologically prepared and put these pointers into serious consideration before venturing into any business while maintaining your career.

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