Question: I have to keep keep my day job while starting my business. What is one piece of advice you have for me?
Commit to Days and Times in Advance
"Create a schedule in advance of the days and times you will commit to working on your new venture, and most importantly, stick to it. Otherwise it’s too easy at the end of a busy day to want to relax or let yourself get distracted by other activities. But the hard work will pay off when you are eventually able to work full time on your own business, doing what you love and are passionate about! "
@dianamgoodwin
Cut Back Hours Gradually
"If you can begin to cut back hours at your day job, even two to four days a month, then start the transition process now. With one day a week to focus completely on your business, you'll be a lot more productive and be able to adjust to the change in income. Usually we view day jobs as all-or-nothing, but with this strategy, you can get the best of both worlds during the transition."
@krazevedo
Don't Get Discouraged
"A lot of people think that they can't start a business unless they devote 100 percent of their time to it. Sure, it is going to require a lot of effort and you are going to be mentally and physically exhausted, but as long as you completely understand this going in, you can make it work. Be prepared to give up your social life as well -- your new venture will require all of your time away from your day job."
@long
Use the Day Job to Pay Off Your Debt and Create an Emergency Fund
"I know so many people who started businesses while maintaining their day jobs. They often felt ready to make the jump into running their businesses full-time after they had debt paid off and enough money in the bank to give them a six- to 12-month runway of living expenses. Take advantage of the regular paycheck, and save as much as you possibly can so that you're not making decisions based on fear."
@AllieO
Talk to a Lawyer
"Even if you're starting a business that has nothing to do with your day job, it's worth consulting with a lawyer to make sure you're not setting yourself up for any issues. Something as seemingly innocuous as sending a message from your private Gmail on your company laptop could spell trouble down the line. Share your current employment contract and startup plans with a lawyer to cover your bases."
@brittanyhodak
Prioritize Your Business as Much as You Can
"If you must keep a day job, make it a priority to set time aside each morning to work on your business. Have a financial goal clearly laid out so that as soon as you hit it, you can quit your day job. Use positive language with yourself, such as 'I will quit this job when I make $10,000/month' to help you achieve your dream."
@nicolemunoz
Manage Your Free Time
"Manage your free time better. You'll need more of it to apply to your side business. Use software such as LeechBlock to prevent access to websites that distract you (like social media), use your lunch hour for quick errands or a gym workout and cut back on TV and social media. And remember, you'll have plenty of free time once your small business grows and you've left your day job."
@moneycrashers
Quit as Soon as You've Saved Enough Money
"Use your job as a temporary safety net and save what you calculate you'll need for at least 12 months of living comfortably. This shouldn't be too hard because at the same time, you'll be dedicating your free time to growing your business and going out less. As soon as you have your runway built up, leave your job. By that point, your business should ideally be earning you income too."
@dnevogt
Budget for Fatigue...
"...and fight through it. Having a day job and simultaneously starting a business is not an ideal situation. You will risk making bad decisions and hurting your reputation because both commitments are bound to bleed into each other's time. You may eventually start resenting your day job, but before then be aware that you no longer own your own time. It's business all day, every day."
@codymclain
