Congrats on taking an awesome first step into starting a side business! Even if you don’t have the business idea yet, but you know you want a side business, the fact that you are researching it is a great start. All businesses have to start somewhere, and perhaps you are not in the right position to completely quit your job and start a business from scratch. So a side business whilst you keep your 9-5 is a great idea.
It’s something I personally have done many times and although it may sound scary and almost impossible, I’m here to tell you it’s not! But before we get into that, let’s look at all the benefits of why you absolutely should start a side business whilst working 9-5.
What Are All The Benefits Of Having A Side Business?
- Enhance your financial situation
- Less worry if you want to suddenly leave your job
- It’s not as scary if you are made redundant
- Setting yourself up for financial freedom in the future
- Personal growth and development (there’s a lot to learn with starting a business)
- If the side business doesn’t work out don’t stress as you still have your 9-5
- You get to experience what it’s like to be your own boss without the full commitment
Now you are even more convinced that this new side hustle is a great idea, you need to figure out how you’re gonna make that happen. Because it’s not easy trying to start and run a business alongside having a full time job. So here’s what you need to do.
How To Start A Side Business Whilst Keeping Your 9-5
Start With A Business Plan
I cannot stress enough the importance of a Business Plan. And you may think you don’t need one if you’ve got all the information there in your head. But trust me, you need one. It’s like a roadmap, that is going to get you to where you need to be. And it’s going to ask you all the difficult questions about your business that you may not have considered yet.
A business plan will cover:
– A deep dive into what your business is
– Who your customer is
– Costs and finances
– Your marketing strategy
There is also the benefit of putting your thoughts down onto paper which helps you organise them and see a plan clearly. This is key if you’re starting a side business whilst working your 9-5 because your time is precious.
There are SO many free business plans, and therefore you have no excuse not to use one. Business plans can come across a little daunting but I used Forbes Simple Business Plan Template and found it ticked all of the necessary boxes and was easy to complete. This will save you time and money in the long run and it’s a necessity even for a side business.
Slow & Steady Wins The Race
When you are working 9-5, it’s not easy to have a side business at the same time. Your work can be mentally, physically and even emotionally draining at times. Hence why wine sales increase on a Wednesday night! If you try and do too much at work and on your side business, you will experience burn out VERY quickly. It’s not sustainable or a good idea to go full steam into your side business. You still want to show up to work and put in the same effort as always.
This means accepting that your new business is going to take some time to get off the ground. You want to get it right at the end of the day and as the age old saying goes, slow and steady wins the race. Don’t jeopardise your work or your side hustle by doing too much too quickly. Your business idea doesn’t have an expiry date so there’s no need to rush.
Prioritise And Allocate Time
However, if you don’t work on your side business at all, it’s never going to get off the ground. This point is important so listen up, you HAVE to prioritise your new business idea if you are serious about it. And you have to schedule in time to work on it outside of your 9-5. That could even mean waking up at 5am to work on your marketing strategy for 2 hours before work. Or skipping Friday night drinks with the girls to set your website up. Unfortunately you are going to have to start saying no to more things, but you will reap the benefits in the long run.
Nothing is going to happen without you making it happen because a business needs dedication and commitment. Which is tricky when you’re also working 9-5, but hopefully your business idea excites you and therefore prioritising it comes with ease.
Write Out A Plan
To help keep you on track it’s a good idea not just to schedule your time but what you are going to do with your time. E.g for my side business, I would dedicate Tuesday mornings before work to create Social Media content. Thursday evening after my 9-5 would be for copywriting etc. Or you could say ‘this week I am going to get the website finished’. Because this helps keep you on track and avoids wasting time.
Ask For Help
Have you heard the expression; ‘It takes a village to raise a baby?‘ Well think of your business as your baby and ask for help! If you know a social media expert that can set up your Instagram account, ask the favour. Websites can be tricky to build if you’ve never created one before, so seek advice from a friend that knows what they are doing. The road to your new business is going to be much smoother and less stressful if you’ve got friends and family that can pitch in.
Embrace The Setbacks
Starting any new business will not be plain sailing. There will be ups and downs and dealing with those alongside a full time job will be hard and frustrating. But don’t give up easily, you need to have a lot of will power and mental strength to overcome the difficulties that come with starting and running a business. My advice would be ride the lows as smoothly as you can and try not to let it affect your 9-5 work.
A Step By Step Guide On Starting A Side Business Whilst Working A 9-5
- Find a business plan template online and download it
- Complete business plan as throughly as possible. Don’t worry if it’s not 100% there yet
- Schedule your weeks so you know how much time you can dedicate to your new side business.
- Work out ahead of time how you are going to spend that time. E.g 6am – 7am Marketing campaigns
- Figure out if your friends/family can support with aspects of your side business. E.g someone can create your logo for free
- Don’t stress and enjoy the process as much as possible. This is gonna be a big but valuable learning curve
Starting a side business whilst keeping your 9-5 is no easy feat, but not impossible! There are plenty of people that do it, myself included and have eventually turned their side business into a full time income, leaving the corporate world behind. It’s a big step and one that takes a lot of guts, time and determination but don’t let that deter you. If you’re already here reading this and thinking about doing it then what’s stopping you? Could it be one of these 9 lame excuses? Trust me when I say the only regret you’ll have is not starting your side business sooner.
Good luck!