A part-time business comes with its challenges, but it comes with taking more control of your life. If you want to know why you should start a business part time, this article can be a great starting point.
Doing business on a part-time basis can help you work on your time management skills. Especially if you’re working a full-time job, that helps you maintain a steady income.
It’s better to go slower and more self-paced instead of quitting your job and just going right into the business. You don’t know if things can go wrong, so having a full-time job can help while you’re working on a part-time business.
In this article, I will go over whether you can start a business part-time also I’ll go over five reasons why it’s imperative for you to start a part-time business right now.
- Can You Start A Business Part-Time?
- Keep A Steady Income From Your Full-Time Job
- Allows You To Learn New Skills- Or Sharpen Up Old Ones
- Teaches You How To Manage Money
- A Better Alternative To Getting A Second Job
- Helps You Take Control Of Your Future
- Questions To Ask Yourself
Can you start a business part-time?
It’s not uncommon to start a business part-time. A lot of people do it while they’re working another job.
Doing it part-time can be challenging because of the time limits associated with it. When working a full-time job you won’t be able to commit all of your time to growing a business.
But it’s possible to find time during your day: The problem for a lot of people is they lack the discipline to set a couple of hours each day to work on it.
Being committed to it and having good habits can come a long way- even if it’s just doing a few things each day. That will help build momentum for the long term.
Let’s go over some common reasons for starting a part-time business.
Why you should start a business part time?
Working on a business part-time helps with keeping income flowing from your current job. Also, it’s another alternative to a second or even a third job between making money and having more time. Let’s discuss some reasons for starting a part-time business.
Keep a steady income from a full-time job
Starting a business part-time while working can still keep a steady income flowing. As you start out your business, you’re not going to make money right away.
Keeping your full-time job will help you make money in the short run. In a way, you can think of it as a safety net if you struggle with building the business right now.
That steady income rolling can help avoid those frustrations, especially if you need to support yourself. It can really help when you need the money the most.
Tip: Don’t quit your job when starting a business
It can be a challenge to think about whether to quit your job to start a business. But from my experience, I went down that route and it didn’t work out well.
I believe you’re better off just starting a business at a slow pace. While at the same time, you’re still able to make money from your full-time job.
Once you get to a point where you’re making more money than at your current job, then it might be a good time to quit and focus on growing the business further.
Allows you to learn new skills- Or sharpen up old ones
Working in a business allows you to learn new skills. What I mean by that is there are some things you have to know about to build a business.
When it comes to online business, there are some things you’ll have to learn. Whether that’s writing an article or adding a video, working on those skill sets can help you in the long run.
Even if you have a talent that you’re good at such as making videos you can get better at it over time
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Read next on “What Is The First Step To Starting An Online Business?” to learn how you can get going in your business journey today.
What I’ve learned in my business
In the last few years, I’ve taken the time to improve my writing skills. With practice over time, it’s gotten a lot easier to write articles for niche websites.
Also, I keep learning search engine optimization (SEO) and making sure that I’m doing that correctly. Learning that method allows me to acquire organic (free) traffic for my website.
Teaches you how to manage money
Building a business will require money management skills. Once you start earning money, it can be tempting to take all of it for yourself.
But remember, you do have to put money aside for things such as taxes. More importantly, you will want to reinvest that money back into growing your business.
By that, you will want to outsource and delegate tasks to others. Hiring is something you’re going to want to do. If you do that you will grow your business even further and it’ll increase your wealth as well.
Is it smart to quit your job to start a business?
Unless you have the capital or substantial savings, it’s not a good idea just to quit your job right away. You will want to work at a slow steady pace rather than just jumping in right away. So it’s best to keep your job while you slowly grow a business.
A better alternative to getting a second job
Far too often, many people will take on two or three jobs to make ends. Sure you can make money right away, but it won’t do you any good in the long run.
Instead of taking on an extra job, why not use that spare time to work on a business? I bring it up because if you do that you’re going to make far much more income in the long run.
Using that spare time can help you learn new skills and also get a better understanding of how a business operates.
It comes down to the matter of building time for yourself rather than just making money in the short run.
If you work at a steady pace of building a business, the dividends will be much bigger than you will have working two or three jobs.
Why take this alternative?
I get that people need extra money to support themselves. But I think it doesn’t do them any good in the long run.
I say that because they could easily lose those jobs, or they could be in a worse situation such as being unemployed down the road.
Setting the time to build a business now can help avoid those frustrations or the possibility of facing unemployment.
When you build those foundations right now, you’re setting yourself up for more stability down the road. It can help a lot in avoiding those financial frustrations.
Should I work part-time while starting a business?
It’s possible to have a part-time job and commit to your business full-time. If the goal is to grow your business slowly, having income from a job can help. What matters most is that you’re not putting yourself in a difficult financial situation.
Helps you take control of your future
By starting a business sooner, you’re preparing for a better future. It may not seem realistic now, but it helps you make better decisions down the road.
By taking control, you’re able to achieve more financial freedom. Along with that, you’ll be able to get more time back to do things that you want to do.
Also, if you want to have the ability to move, having a business that allows mobility can be a great thing to take advantage of.
Starting that business part-time can help you get to that position of autonomy and control. More so, you have the ability to make better decisions as well.
Questions to ask yourself:
- Is time management an issue when it comes to a part-time business?
- Do you think it’s better to build a business than take on a second or third job?
- What can a part-time business do for you in the long run? Get more time back?
- What is one skill you want to learn from starting a part-time business?
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Read next on “Is It Better To Work For Yourself Than For Someone Else?” to find out if you want to work on your own someday. It can be a good starting point for getting out of the rat race.
Starting a part-time business comes with these challenges. But if you can manage your time well you could still work on it while having a full-time job.
The key point is you want to make sure you’re still making income when your business is not making money yet.
The reasons mentioned earlier give you a better idea of how to go about with a part-time business. Whichever path you choose, hopefully, it’s one that can help you achieve financial success.
If you’d like to start a business on a part-time basis I’d love to help you out. I encourage you to check out my top recommendation, and how you can get started today.
Your Turn: Is a part-time business the way to go?
I would like to get your thoughts on this topic there’s a part-time business as the best alternative for you right now
Do you think it can help you go at a slow and steady pace? Would you rather spend your time doing that rather than taking on a second or a third job?
If you have a job right now, how can you manage your time better while building a part-time business?
Is that something you would struggle with? If so, how can you overcome those challenges?
Feel free to share your thoughts by leaving a comment below I look forward to reading them and I’ll gladly respond promptly.
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Eric is the owner and chief editor of notimekillers.com. He takes great pride in helping people manage their time and grow their businesses. Eric is a firm believer in financial and time freedom, as he believes in financial independence and taking ownership of your time. “Time is your most important asset. It can be your best friend or worst enemy. How you use your time can shape the future you desire to have.” In his leisure time, Eric loves to write and read whenever possible. He enjoys going for long walks outdoors while doing in-home workout videos every week. You can also connect with Eric via LinkedIn.