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10 Ways to Balance a Side Hustle When Launching a Business

What is one piece of advice you'd give an entrepreneur who is starting a business while working another job? To help new business owners grow their business while working another job, we asked experienced entrepreneurs and small business owners this question for their best insights. From prioritizing time blocking to being mindful of your energy, there are several tips that may help you launch your business while working another job.

Here are 10 tips for balancing a side hustle when launching a business: 

  • Prioritize Time Blocking

  • Understand You Can do Anything, but You Can't do Everything

  • Keep Risks Low for the Sake of Your Mental Health

  • Prepare to Make Sacrifices

  • Keep Your Job While Running Your Business Part-time

  • Clarify Any Day Job Conflicts

  • Keep Your Eye On Your North Star Always

  • Quit that Job and Live Your Passion!

  • Stay Steady to Win the Race

  • Be Mindful of Your Energy 

Prioritize Time Blocking

If you are working full time and working on the side to open a new business you need to time block. You want to be organized with your hours after work so nothing interferes with your job and the extra hours focus on what you are doing to invest in your future business. So many benefits to owning your own business!

Jeanne Kelly, Kelly Group Coaching, Inc.

Understand You Can do Anything, but You Can't do Everything

For your dream to become a reality, there will be a point where the new venture will need all your attention to succeed. It is challenging to focus on launching a new business while working full-time and balancing life's obligations. While you are working, items like setting up an entity, creating a business plan, and shopping your competition can be done. If you treat your business as a part-time gig, it will show to your client base and the business's success. Have a target date for when you will put in your resignation to focus solely on your new business and follow through.

Kimberly Bogues, Flourish Business Services, LLC

Keep Risks Low for the Sake of Your Mental Health

Taking on a risk that could have a drastic effect on your life (for example, the risk of not being able to afford food for you or your family) comes with a lot of stress and mental anguish. If you're starting a business while working another job, you've already done a good job decreasing some risk as you still have money coming in from your job. People who quit their job one day and try to start a business fail to consider the mental toll that taking on such a huge risk brings. So when you start your new business, only invest in the business money that you can survive losing. Never raise the stakes so high that failure means doom, rather, make smart choices so that risk is reasonably managed and you have a safety net in case you need it.

Mor Hasson, Maple Hosting

Prepare to Make Sacrifices

Starting a business is resource-consuming and requires constant monitoring because your work has just begun after you open your doors. Besides the routine in the office, your new business still needs attention; therefore, you have to put in more time which may mean spending less time with family and friends to be successful. Starting a business is also budget-straining and often requires external funding to keep the business running. A steady income from your current job enables you to make the best decisions for your new business, something you might not have if you dropped everything and devoted all your time. You can utilize this chance to sacrifice some of your savings towards your business to ensure you have influential startup capital. This will enable you to create a good foundation for your new business, promoting fast growth.

John Tian, Mobitrix

Keep Your Job While Running Your Business Part-time

Run your business part-time while still keeping your current job. This way, you can still depend on a steady income and benefits while you're testing ways to make your business produce a reliable and consistent income. You don't need the stress of worrying about rent or mortgage and other unpaid bills while growing your own business. This will also prevent you from draining your savings account, keeping your emergency funds untouched while steering your business towards success.

Kris Lippi, I Sold My House

Clarify Any Day Job Conflicts

Before diving into entrepreneurship at the same time as working another job, clarify that there aren't any contractual conflicts that might cause trouble down the road. Every employment contract has different terms and stipulations, so give it a thorough read or talk to HR to ensure that you're not violating anything. For example, if you're starting a business in the same field as your job, ensure you didn't sign a noncompete agreement that might be broken, which could cause serious issues with your employer. It's also generally a smart idea to sit and consider whether a split focus might harm your ability to do your job well, and whether it might become something an employer notices and perceives negatively.

Roy Morejon, Enventys Partners

Keep Your Eye On Your North Star Always

I am building my own photography business while working as a copywriter during 9-to-5. Sometimes, amidst the stress of the day-to-day, you'd be tempted to just quit knowing you have a fallback anyway -- your business. However, keep in mind that you have a reason why you hold on to the job. For me, I needed a more stable source of income while my business is still rather unpredictable. Keep an eye on your North Star, but keep both feet on the ground for the mundane. So that when you're ready to fly, you'll make the jump more confidently.

Francine Kaye Acelar, Formicidae, LLC

Quit that Job and Live Your Passion!

When starting a business while working another job, you must decide if you are trying to replace the job or to create additional income. If you are seeking to replace your job, 3 years with a proven system to create stable income is what it could take. Do not allow the thrill of being a business owner to cause you to abandon the other parts of your life. Work your business on a part time basis allowing time for rest, exercise, spiritual practice, and human relationships. As you see stable income growth with the business, asking your boss for an abbreviated schedule would make sense. You want to get to a point where you are working your job part time and your business full time, so you can cut the job out completely.

Katherine Jones, TNTBS Media Incorporated

Stay Steady to Win the Race

In our mentoring we suggest to the start up entrepreneur to effort 6-8 hours a week on developing their side hustle. It might not sound like much, but you don’t need to run head-first into something right away. Life is so special and if you still have a full-time job, you’ve got a lot going on already. Don’t get discouraged. Slow and steady wins the race. Your dream of turning a side hustle into a full-time gig could take 1-3 years to realize.

wally simon, SCORE

Be Mindful of Your Energy.

As with any new role, taking stock of what feeds your passion and spotlights your talents and capabilities—including those you use in your life outside of work—can point you in the right direction. Be mindful of your energy. We have finite amounts of emotional energy so finding a side hustle that fills your cup is important. Trust the signals your body gives you when you feel "lit up" or full of joy.

Jen Hope, Hey Jen Hope

posted April 6, 2022
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