Starting a business while working a fulltime job is no easy task. But the opportunity to be your own boss and control your career with your own hands is an enticing opportunity for many people. So, they take the great plunge and register for themselves a small business license and create a workspace to get their business rolling. But working two full-time jobs is hard, even for the healthiest and most energetic of people. Keeping schedules, fighting with your partner, and frustrations with not scaling fast enough, will mentally exhaust you and make you rethink your work at home plans. But we can help. Here are several ways you can make this trying time easier for you and your family.
Plan every day beforehand
You have a full-time job that takes up 40 hours a week plus commute time. When you decide to start a business, you will essentially be involved in two full-time jobs. You may not have two commutes, but if you need supplies or documents from the government, that will be another trip you have to take. For you to properly fulfill all your obligations, you must have and follow a strict schedule. Activities in the schedule cannot be postponed or procrastinated.
Have a calendar notebook by your workspace. When you’re done with the day’s work, write down what you finished and started today, and what research or activities need to be done the next day in your notebook. Doing this will show you what you have completed over the days and weeks, and keep you organized so you won’t forget any crucial deadlines. Write down any deadlines, either real or self-imposed, so whatever you need to do doesn’t go on for too long. If you are researching for help, like a business tax consultant, don’t let it go on for weeks. Giving yourself deadlines will keep you and your business on track without spending too much time on deliberation and information overload.
Say no to everything else
Now that you have two fulltime jobs, you don’t have time for much else, besides the errands you have to run for groceries and bills, you need to sleep at least 6 hours a night to get plenty of rest. You shouldn’t sacrifice your worktime or sleep time, so you have more time to work or go out. Without a good amount of sleep, your body’s performance will drop, and you will get sick. You are in danger of falling asleep being the wheel of your vehicle too. To get enough rest, work two jobs, and take care of errands, your spouse, and your children, you need to restrict every other activity. No more video games or Netflix binging, no more going out for drinks, and meeting with friends. Your new business and sleep quality are now your priorities. If you have people who are always inviting you out, be sure to talk to them and inform them about the changes coming in your life. Tell them that you would love to go out with them like before, but you can’t anymore. Doing this will show your friends and family that you respect and is much more diplomatic than avoiding their calls or texts and ghosting them for months.
Assume, when starting your business, that everything will take twice as long
Many small business owners have a hard time being patient. They want their business to develop as fast as possible. Since you have a day job, you will feel the squeeze of time around the third month. When you get to this point, it is imperative that you avoid taking shortcuts so you can grow your business. Studies are stating that if a business lasts more than five years, it is successful. So, you must reach that five-year mark to be a permanent business. This is much longer than the one-year plan you have in place. But this study also shows you can’t rush yourself. Even if you didn’t have a day job and could commit all your time to your new business, success and stabilities will still take time to develop. Patience and a diligent work ethic are what will make your business successful.
Join an entrepreneur forum
Often, building your own business is a solitary venture. You are alone at your workspace for most of your time; you have to stop meeting with friends and family for outings. You can’t even tell anyone at work, in case your boss learns about it and then start monitoring you to make sure you don’t do personal work on company time. Joining an online forum dedicated to entrepreneurs can inspire you and make you feel like you’re part of a community. Plus, other members of the forum can advise you on legal or marketing matters, how to talk to clients, and lead you to online classes or courses to improve your knowledge about your industry. It will be as if you had a mentor and study partner wrapped into one. If you wish to take it one step further, you can hire a business mentor to coach you a few times a month personally.
Plan days off
You may think that you have to dedicate every waking moment that isn’t spent on your day job and sleeping to working on your business and you are right. For at least the next year, you won’t do much else except work and sleep. But planning days off will give you a day to reset and give yourself a break. Nobody can continuously keep working all day for months on end without a break. Burnout is a significant problem in the entrepreneurial world. Even people with businesses that are successful start to lose their edge because they’re too tired to keep going. A planned day off with re-energize you and will your brain a rest.
It must be a planned day off. On your calendar, there have to be at least two days per month, written on your calendar and circled in red ink, that say “DAY OFF.” You can have more days off if that is what you need, but one day off per every two weeks is doable for all entrepreneurs. And you must adhere to these days. You cannot push them back or disregard them. On your two or more days off, you can use that time to call and catch up with friends, spend time with your partner, catch a movie, finish neglected chores, or spend time with your animals.
Talk to your partner and plan.
If you have a partner or spouse, you must still down and talk to them about your plan for your business. To start developing a business, which takes up most of your free time, without talking to your partner, is unfair to them. You cannot leave them to deal with the house, the pets, the cars, the errands, and the cleaning all by themselves.
If you have children, the two of your need to delegate childcare responsibilities, and you can’t just check out of family life and do your own thing. If you can also get your parents or parents in law to assist with the children, daily life will be much easier during this trying time. You might have to call on your support network to help you when you are in need, so this is not a time to burn bridges or upset people. But don’t get into debt with people you don’t want to owe debt too.
If you are just beginning to date someone, it is probably a good idea to sit them down and explain to them how your life is going to change for at least the next year. Then break up with them. They will be sad, but a new relationship is fragile, and you won’t have the time to spend with them and build up a new relationship.
Stay ahead of your business’s finances
Every month, one the first of the month, you must sit down and write out the finances of your business. Collect all your records and receipts for the entire year in a folder. You’ll be happy you did once the taxman comes to collect every April. Decide how much money you can dedicate to your business that month and only spend that amount. If you are using credit cards to fund your business, choose wisely what service or products need to pay for and pay for smaller items in cash.
When you must purchase a service, materials, or equipment, do your research and find out where you obtain the highest quality for a reasonable price. Don’t take offers freelancers that are too good to be true. If they are offering you the same service for a third of the cost, don’t do it. You WILL get what you paid for.
DO NOT ask people to do free work for you. DO NOT offer exposure instead of payment. You are not yet a business that can provide much exposure or influence. Offering exposure only works for major businesses and websites. Doing this is a hated tactic, and your business will develop a bad reputation before it truly develops. You must act like a professional business the second you register for a small business license.