Keep your day job with your business
Let us think that you are a regular worker in an enterprise or firm and you are not satisfied with the remuneration given to you. So, one fine morning, you decide that you will start your own venture and let this unsatisfactory biased job go. Wow, you have certainly chosen to throw a pebble in your regular monotonous life. Well the idea is grand and we congratulate you for taking this big step. But there is another thing we want to ask you. When do you think you are going to quit your job? I mean, it is certainly not possible for one to devote his or her time for start-up and also do their regular job regularly. Or is it? Letâ€™s have a little look in here.
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What about the successful entrepreneurs?
It might come to you as a bit surprise that many successful entrepreneurs chose to hold on to their previous jobs while staring their first venture up. And they sometime did it in a serial order which means they took one new step while keeping foothold of the previous step. They were able to perform their daily job and part time commitment simultaneously. Need some name? Henry Ford, Steve Wozniak of Apple and many more. If they can, you can too.
But still, why do it?
In this context, some of the people might be wondering what the necessity of doing this is. I mean, you certainly want to devote your full time and assets to your new start-up. Well this is a key point. But if one thinks carefully, he will find so many advantages of this step.
First of all, the main idea of getting a new theme in your lives is to make your dream successful and eventually make good money, obviously better than your previous job. Now get this straight, though they might not pay enough money for your liking, but that is a constant source of income. When you start your venture, you might not be profited from the early days and that is the usual scenario. So, in that case, paying your monthly bills, the rent of your house, fees of your kids, you will feel struck, unless keeping the job in hand.
Another important point besides security is the independence of the project. I mean, wouldnâ€™t it be great that you need not to enforce some other people to invest in your venture rather you can be your own producer. Doing both jobs simultaneously will provide you with the flexibility, the security, the ideal environment for your dream to ride in the first gear, at least.
This is actually an official term of this dual job, given by Joseph Raffiee and Jie Feng of the University of Wisconsin, Madison. They believe it helps one to understand the real life scenario before getting into it.
After reading up-to this, you might be thinking that what on earth would it take two go for two simultaneous tasks. Well, believe me or not it is not going to be that much difficult if you are a man of plan and execution. There are some points you might want to catch up with though-
- Be assured before you start â€“
Well the most important factor of a successful entrepreneurship is the desire to make it happen, to go the distance for making the things right. So if you are 100% certain of your persistence to the matter, you go; otherwise keeping both the streak alive might cause you damage, small or big.
- Consider the opportunity â€“
Now donâ€™t think your main job as an offer to make a way, not an alley to blind destination. Your regular income will bring a stability which is very important in this purpose. The investors also like to see a good progress before the put their money in and you can earn their faith by achieving that.
- Plan your way â€“
It is inevitable isnâ€™t it? You should make arrangement for all possible ups and downs. You should be able to overcome any difficulties in the way. Make a full-proof plan and almost 50% of your concerns will be resolved.
- Find some â€˜Meâ€™ Time â€“
Another very crucial thing to be taken care of is the time management. You may think that you should not take any kind of unnecessary side times while you are in a full flow, but eventually it is almost a certainty that you will crash and burn out. A 20 hour overhaul will only make you immobile, not agile. So timing needs to be perfect.
Also Read:Â Entrepreneurial Employee Paradox
- Leave your Ego and Trust others â€“
Well you canâ€™t do everything on your own; you need to decentralize things early and nicely. Donâ€™t be an egoist to think that you know everything as you are the head. But it is your first independent venture, how come you know all. Put your arrogance aside and believe in others too. If one can do a job better than you, leave it to them. Surely you got to take the final measure though.