Businesses are always a good thing to start. You have all the time in the world at your hands, you can truly earn for yourself, and you’ll also feel like you’re doing and building something worthwhile. It’s the best feeling in the world to become your own boss.
But what if you’re still working under another boss? You will have little time to conduct pre-employment skills testing on your prospective employees if you’re still working for another company. While you may not be directly competing against your job if you offer another service entirely different from your company, imagine if your boss finds out.
There isn’t any clear-cut way to convince them you won’t compete otherwise. The best thing you can do is to just do your business while steering clear of it getting in the way of your other job — or you can try to do it as an employee with these helpful tips.
If you have a job and a business, designate one as ‘part-time’
If you’re currently employed by another company when you start your business, you should consider the enterprise as a ‘side-gig’. This is because when you’re starting, you’ll most likely start with the most basic of benefits or even none of them. Your regular job will have provided you with a stable income and the benefits that come with that.
What’s more, you’ll want to have something secure to rely on while you’re trying to get your business to a firmer footing. The last thing you want to worry about is the added stress of having unpaid expenses while not having any other income to back it up.
Do you have an employment contract? Honor it
You most likely signed a contract when you were employed. Did it have anything on it like a non-compete clause? If so, then you should honor that contract. This is particularly important if there’s a clause there that pertains to intellectual property (IP) rights.
Even if you didn’t sign a contract, doesn’t mean you’re free to do as you please. You should have a company Employee Manual to check if there’s such a thing as rights. If you don’t, then you should still ask the Human Resources manager if there is legality like this in the company, especially if it’s in the business of creating gadgets or programs.
Set aside your side income
When you’re working on two things at the same time, it’s most likely that one of them is your side-gig. Whether your business or your employment is such, you should remember to set aside some cash for the time you decide to leave your full-time job.
You should also set some clear guidelines that will help you save more for when you’re earning less. You can also choose to invest the money you save into something that will help it grow further. This will strengthen the safety net that you establish for the lean times.
Setting your mind to expect the best
It might look easy to you but setting your mind to achieve your business goals is a challenge in itself. You will have to push every fiber of your being to think that you can pull off having a business while working for another one. It’s a matter of mind over other goals or something of the sort.
If you achieve this, then you’ll have come into a state where you really believe that you can do anything. You can also be thinking that all of it is possible, as long as your heart and brain are working together towards the achievement of this goal.
Managing your time
The most important part of being loyal to two businesses at once is to set your time for doing both. It’s easy if you’re an employee doing office-based work, but not quite so if you’re an employee who’s working from home. If you can manage your time, establishing your own business while being an employee is easy.
You should also accomplish as many tasks as you should during your allotted time for your growing business. This includes setting it up, setting the financial goals it needs to do, and also continue to initiate other things you need to do to finish up.
At this point, you’ll have a pretty good picture of what you need to do and when you need to achieve it. There are the benefits of having a business and a job at the same time, especially if you’re lacking the income to support your growing enterprise. Just remember to be financially responsible and you’re all set.
