Guest post by Jill Phillips
Creating a business from the ground up might be incredibly challenging, but it could also provide you with complete financial freedom. Unfortunately, many entrepreneurs must continue to hold down a full-time job while they are getting their new business started.
Here are seven tips you can use to make the most out of every minute of the day while juggling your current career, your company, and your personal life.
1. Plan everything for a great start
Even small business owners who have no other careers must be as methodical as possible when it comes to the growth of their company, let alone aspiring entrepreneurs who have full-time jobs. The first thing you should do is create a filing system for all the information on your business and the industry you are in. Once you have everything stored and categorised methodically, you can go ahead and create a business plan that will help you do everything step by step. Your business plan should include your short-term and long-term goals, the state of the industry, legal information, and a financial structure.
2. Manage your time
It is all too easy to waste a few minutes or hours every day, and that will have a negative impact on your new business as well as your personal life. You will most likely need to sit down with your family and come up with a firm schedule every week. No matter how well you manage your time, you must also be ready to make sacrifices. Many entrepreneurs work at least six days a week and have to cut back on their hobbies and leisure time. You can also speak with your current boss to see if you could work remotely a few days a week.
3. Educate yourself
Learning more about your own products and the industry you are in is the single most effective way to create a successful business. Stay up-to-date on all the news and trends, but learn other things as well. The more you know about different things, the more creativity you will apply your business. Those who are able to do so should consider using various online resources to continue educating themselves in different directions cheap and effectively. Even though this type of education can take up some time, it should be seen as an investment in your company, so make sure to fit it in your schedule.
4. Create networks
Networking should be another priority for every entrepreneur. In addition to speaking with family and friends, you might want to talk to coworkers and peers in your current company to see if they have any useful resources or connections. Small business owners must also have active accounts on social media sites including LinkedIn, Twitter and Facebook. Once those accounts are connected to your website, you can then begin the process of creating sharable content and getting followers. Content marketing is a must today, and the time you invest in it will pay off multiple times.
5. Seek assistance
No matter how much energy you spend laying the groundwork for your company, there will come a time when you need outside help. Many of the most successful entrepreneurs suggest meeting with industry leaders or other small business owners to learn about some of the unique challenges they might encounter. Before you make your first sale, you should also speak with a lawyer to ensure that your new business is not breaking any laws or interfering with your employer’s bylaws.
6. Find a partner
Trying to build a startup with absolutely no help is nearly impossible. Many small business owners are wary of investors and partners, but they can be an incredible asset in those first few months. It might be tempting to hire close friends or family members, but that is often a major liability. Instead, you should think about finding someone who is passionate about your product and ready to make just as many sacrifices as you are. If you are unsure of an individual, then you could try bringing them into the company on a temporary basis to see how well you two work together. Getting just a few hours of help every week could help you strike a balance between your personal life and your work.
7. Be persistent
One of the most important things for entrepreneurs to remember is that success rarely comes overnight. No matter how revolutionary your product or service might be, you are sure to hit obstacles. You must mentally prepare yourself for those obstacles so they do not come as a shock to you and your family. Being mentally and psychologically strong is often just as important as being a hard worker and devoted to your company. The importance of a positive mindset can never be overstated. Even if you get overwhelmed with busy schedules, remember that perseverance pays off and never give up.
The steps you take before opening your doors are just as important as the work you will be doing in the coming months. Entrepreneurs who take the time to create a foolproof business plan, educate themselves, and find the right help will put themselves in the best possible position to create a successful company. And with some positive thinking, time management and hard work, it is not impossible to start a successful business even when you are still employed.
Jill Phillips is a freelance writer from Buffalo, NY. She is an aspiring entrepreneur and a tech lover who loves to share her insight on various topics. When she is not writing, Jill enjoys taking photos and hiking with her dog. You can find her @jillphlps.