One of the questions that I am getting asked frequently concerns how to start a business when you have a demanding job.
Even though you might want to build a company on the side, whether it is to make some extra cash, to do something you truly love, to freely manage your time and where to work from, or simply because you are sick of the daily grind, the fact is:
MOST OF US HAVE BILLS TO PAY, AND ABANDONING THE SALARY AT THE END OF THE MONTH IS SIMPLY NOT A VIABLE OPTION.
I’ve written this essay to help you find the answer.
I’m sure you know that life is made of options and trade-offs. It is merely impossible to keep doing things in the same way and to expect different results.
So, to start a business of any kind, it will always require you to make some sacrifices.
But before we dive in, I’d like you to go through the following reasoning:
Think thoroughly about your life aspirations and ambitions. Remember all you have been doing up to this point and if you have a life plan, it is probably the time to revisit it.
Talk to your family and friends about what you and them believe is paramount in life. And mostly, I’d recommend you to close your eyes, breathe deeply and imagine you are eighty years old, and you’re looking back as the years went by.
You don’t need to do this now. You can do this exercise whenever you have time.
The main question you will want to see answered is the following:
How far are you willing to go to start a business?
What we are trying to understand here is how much risk you tolerate and how badly you desire to manage your own business.
Because, according to your answer, you will be cataloged within one of the following groups of people:
Group I: The ones in doubt will always secure their day job
These guys will continue to work hard at their full-time job because they cannot accept to reduce the quality of their work neither can conceive risking the salary they receive at the end of the month.
Group II: The ones who accept some risk and are determined to start a business
These won’t resist the temptation of starting a side project during the working hours, and also don’t mind if everyone knows that they are working on a side business, even if it ultimately leads to a slight decrease in their performance.
Personally, I’ve always belonged to the second group.
But both options are absolutely viable!
Even if you’re securing your job above anything else, whether because you have bills to pay and a family to support, or don’t want to embrace any risk, you will still manage to set up your own business.
Note: you cannot imagine how many times I’ve started over the writing of this essay until I found what was missing: this difference in approaches.
The options are entirely different; we cannot compare someone who needs to secure his or her day job with whom has barely anything to lose and is only looking to work as hard as possible on their side project.
I just want you to realize that each of the options demands different tactics. For that reason, you will initially see the pieces of advice to Group I and then the ones for Group II.
This is only an introduction to the subject.
To explore it more in-depth, go to part 2 where I talk about each of the groups specifically. In the meantime, let me know in the comments what group you belong to.