There are many reasons why one should start building their business on the side and become a part-time entrepreneur but here are just a few:
1. Risk Free Entrepreneurship
Now, of course everyone has their own definition of risk, but when it comes to building a business on a part-time basis most of the risk is eliminated. You are already doing something to cover the bills so your financial liabilities are already being taken care of which gives you more flexibility with your business. Growing a business without excess financial pressure is very important. That way you can make decisions and choices without worrying about how you are going to pay the light bill or put food on the table.
2. Better Financial Standing
No matter what type of business you want to run, it is going to take money to either start, market, or maintain (most of the time all three). Your job can provide you the capital necessary to fund your business because the lack of capital is one of the top reasons why most businesses fail.
Since your bills are covered by your full-time job, part-time income is extra money. This allows you to explore a business that you would actually like to do instead of doing something you are forced to do because of financial circumstances. Having a business that will bring you happiness must be based on your skills and things that you enjoy.
3. Training, Skills and Development
In most cases, your school or job is already training you, therefore you can take what you are learning there and apply it to your business. You are attending lectures, reading books, and going through courses and all of this information can be very valuable.
Another thing to consider, which I learned from Jullien Gordon, is that “your job is just your largest client” which means it is not your only client. Your job is already paying you for your skills and talent. Why not take what they are paying you to do on a full-time basis and start doing it on a part-time basis for yourself (of course in a non competing field).
4. “If You Can’t Build It Part-Time, You Can’t Build it Full-Time”
This is a phrase that one of the top business trainers on the face of this planet, Ray Higdon, says on consistent basis. If you aren’t able to build a business on a part-time basis in the time you have available, then you won’t be able to build that business if you had 8 hours a day. The goal is to get started, take some action, and prove that your concept works. Most of us, including myself in the past, would blame the lack of time for our lack of success.
“I don’t have enough time”
“If there were only 1 more hour in the day”
These are the lies we tell ourselves when in all honesty we don’t need more time, we just need to do better things with the time that we do have. There have been plenty of people who have built businesses part-time with less “time” than us and if they can do it, so can we!
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