Welcome back to the last part of how to start a side business without quitting your day job….
6. Plan to act.
You now have all of the tools needed to get create a plan of action for your business idea(s). You may have 3 options or more on your list. Continuing with the exercises presented in this article learn more about what’s needed for your business. See what additional skills are needed to get started. Find out what fees and licensing if any are needed to get started with your business. Add additional columns if needed to your checklist so you can visually see the results.
Start a second page to make notes of your plan of action after completing your research. This is where you will list all of your tasks needed to achieve your objectives. You’ll also want to set small milestones for yourself so you can chart your progress.
As you are starting your side business share it with your immediate family as you’ll need their complete support. Only start sharing your plans outside of your immediate family when you are clear on what you want and have mapped out a plan. Most people don’t get started in business because of fears: fear of failure, fear of rejection, and fear of success. Imagine if you shared your excitement about your business idea with someone who was in this category.
They may try to talk you out of it or make you think your idea will not work. There are many multi-million dollar businesses that would have never taken flight had they shared the idea early on. Remember we pay for bottled water when it comes freely out of the faucet. Whoever initiated this business idea could have easily been discouraged because why would people pay for something they can get for free. You get the idea!
Here are the six critical steps to get you on your way to starting a side business without quitting your day job:
- Exercise #1: Create list of things you are passionate about.
- Exercise #2: Determine what time you have available to commit to your business.
- Exercise #3: Determine what funds you have available to invest in your business.
- Exercise #4: Rate your business ideas on a scale 1 to 5 with 5 being the most time needed. And rate your business ideas on a scale 1 to 5 with 5 being the most money needed to start.
- · Make a list of skills you need in order to start your business.
· Exercise #6: Create a plan of action.
Being a business owner is not easy, yet it is most rewarding when you have carefully selected the business that works best for you, your family, and your lifestyle. With these steps you can identify business opportunities that work best for you and allow you to keep your day job. It is possible to start a side business and work full-time. In today’s economy building your nest egg is now up to you and the only way to make it grow the way you want is to start your own business.
I wish you much success in determining what your new venture may be, and if I can be of any assistance, please don’t hesitate to reach out.
“Take control of your destiny or someone else will”
