This is an excerpt from an article I was quoted in on Success Magazine’s “Success On Demand” subscription service.
Balancing a Full Time Job and Startup
Are you up for the challenge?
Jeff Steinmann, author of How to Quit Working: A Simple Plan to Leave Your Job for a Life of Freedom, agrees that new business owners shouldn’t plan on getting much sleep, especially if they keep their day jobs.
“It’s like having an affair,” he says. “Your business becomes your ‘mistress’ or ‘mister.’ You feel guilty and worry you’re betraying your employer. You are also very busy and have to give up time with friends, family and hobbies.”
Since time is precious, it’s important for entrepreneurs to set aside specific hours to work on their startup and concentrate on tasks that generate revenue rather than spending hours designing the perfect logo, boosting the business’s social media presence or promoting products that aren’t in demand.
“You’ve got to focus on making money,” says Steinmann, who kept his day job for about two years while starting his consulting company, Braveau Experts. “I know that sounds obvious, but that’s what proves you have a product or service people want.”
Once that’s established, how do entrepreneurs know it’s time to divorce their day jobs?
“Every side business reaches a point where it can’t grow any more as a side business,” he said.
“You’ll know because you’ll have a long list of things you need to do for your business, but even though you aren’t sleeping much, there is not enough time in the day to do them.”
So once you’ve built up a little savings, proven your businesses is viable and expanded it to its limits as a side project, it could be time to turn in your two-week notice and become your own boss.
“The last thing is, know that it’s possible,” Steinmann says. “People do this every single day. You just have to believe you can, too.”
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