Working 5 to 9: How to Build a Business in the Evenings
First – your employment contract may not allow it. But if you’re passionate about building up your own business, the safest way to do that is by working in the evenings.
It’s tiring of course since you’ve effectively got two jobs. But if you’re looking to either make some extra income, or build up a business to eventually turn into a full time income, this is the safest way.
So let’s go through what you’ll need to consider when building a business part time:
You’ll Need to Know a Lot
Let’s say your day job is a graphic designer. And that you’re looking to start up your own design business in the evenings, and then eventually make that full time. Well, you probably already know how to work for clients. But, you may not know how to build a website and how to attract leads. Plus you may not know how to convert leads into customers, and how to turn new customers into long term customers.
Plus there’s the recruiting and financial aspects of working for yourself you may not be aware of. Exactly what’s expected of you as regards preparing and paying tax, for example. How to take on staff legally. What kind of insurance you need.
So although you do need a core expertise, since that is what customers pay you for, you’ll also need broad knowledge. A Jack of a trades if you will. So be prepared for a steep, and ongoing, learning curve. And it can be very helpful to speak to an advisor like Redbrick Wealth depending on exactly you’re looking to achieve.
You Become Your Job (or Your Job Becomes You)
Self employment is very different to working for someone else, and it’s not something you can ever really leave behind. You can try to keep stable and structured hours, but your mind will never switch off. And at the simplest level, if you’re not working, you’re not earning.
So really, your self employment, and your business, largely become your life. Or an integral and ongoing part of your life. If you’re not passionate about it, it won’t work, since you need motivation far beyond just having a 9 to 5 job.
And often, taking decent holidays becomes difficult. Even if you have employees who hold down the fort while you’re away, you’ll still need to be available and keep an eye on things.
You Must Learn Sales & Marketing
You may have come from a technical background. Or, even if you’ve not really spent time in customer facing roles. Either way, sales and marketing is something you need to learn and become comfortable with.
You could attempt to outsource that part of your business. However, since it’s so integral to your business growing, really it’s something you need to get to grips with.
Now, it can be difficult to know how to learn these skills effectively. Since structured courses often aren’t either up to date, or taught by people who aren’t working in the trenches right now. So if it’s something you decide to learn (recommended), you need to find a reputable mentor who can guide you.
There you have it! The basics on how to build your business after your day job!
*This post is contributed to Spicy Scribbler Blog