Escape: Starting a Part-Time Business to Escape a Dead End Job
Have you ever been at a job where you often found yourself looking out the nearest window day dreaming of what you would rather be doing at that moment or thinking about how you can make your dreams possible? We have all been there, various work satisfaction surveys show that the majority of people are dissatisfied with their job. It can be a struggle to deal with the day-to-day stress of a job when you still a burning desire and passion to do something different or do more than what you are currently doing. Ask yourself are you doing what you truly want to do? More importantly are you doing what you are called to do and are you using your gifts, talents and abilities in your current position? Do you wake up every day excited to go into work? If you aren’t, ask yourself what is next?
1. Follow your passion and analyze your gifts, talents and abilities.
You are already trying to escape from a job that is not your dream job, so don’t put yourself in a situation where you are just trying to earn extra income, the key is to chase the vision, not the money. Follow your passion! Next, analyze your gifts, talents and abilities and produce something that you fits you, what you do good, what you are passionate about and what fits your personality. Also, just because you haven’t done something before, doesn’t mean you are not capable or even more importantly gifted and called to do it now. So do not limit yourself, there are things you do so effortlessly that you do not even realize it. If you are stuck, ask your friends what are some of the gifts you have and the things you seem to do with so much ease that may be harder for others to do. You can even go a little further take some assessments to learn more about your talents and abilities like a spiritual gifts test or various personality tests.
2. Make sure it is a business and not a hobby.
Remember your part-time business is just that a business, so treat it like one. Your hobby may potentially make you a lot of money, there are companies that specialize in building tree houses and others that make gift baskets, but the key is to make sure you approach everything as a business. Make sure you are getting a return on investment and there is a market for your product or services. Test the market and see how it responds to what you are offering and if it’s doesn’t, then go back to the drawing board and figure out why. Maybe you are targeting the wrong audience or need to change the features; it may be there just isn’t a market for your business.
3. Start small and use your resources wisely and do not get in to any debt.
How tragic would it be if you started a business to do what you love to do, but it fails and you took out a personal loan or a second mortgage to start the business? You don’t want to put yourself in a situation that is worse than where you start at. Your business may never fail but you don’t want to turn your dream job into a nightmare, so start small and use what resources you have without getting into debt. It may be more time consuming and costly to make each widget one at time and not buy all the supplies that make the widget in bulk, but it is even worst to buy supplies and make 1,000 widgets and have them sit in the garage. Until your business has proven that it can create profits, don’t bet everything on it at the beginning.
4. Don’t procrastinate, start now.
Before I need start a business, I need a business plan, a personal loan, a logo, marketing materials, conduct a focus group with my target market, write a book, and so on; starting a business takes a lot but don’t get so consumed in creating the structure of the business that you become paralyzed in inability. Getting ready to get ready to start a business is not starting a business. Start now and keep adding the components to your business as you go, you don’t want to look up and 16 months later you are still trying to start your business and haven’t sold one product or service. Start today with what you can do today and keep building as you go along.
5. Continuously improve your products, processes, marketing and branding.
Remember when I said start small, well that was good in the beginning when you are just started but that is no excuse to stay small. Keep improving your business, your products and services, your marketing and brand, etc. Make sure you take time to work on the business and not just the fulfillment of the product or service. Having only a brochure and business card is good when you only have a few customers, but as you grow you should expand as the number of customers you serve grow. The logo your cousin made worked when you just started the company but it might be time to get a professional logo, website or other marketing materials as well as to start pay for advertising when you have 100 or so order to fulfill every week.
6. Dream Big!
A part-time business doesn’t mean you can dream a part time dream. Dream big! Remember the reason you start a part-time business is to live your dream life, so one day you will have to turn that part time business into a full time business with employees and inventory and office space to house everyone. Your goal in starting your part time business should be creating something great and creating something that survives the test of time and can one day appear on a magazine as Fortune 500 Company.
Are you ready to start your own business? Take the first step with this easy to use business plan template. With over 30 sections, Optimize Your Business Plan has everything you need to create a complete business plan. Each section include a fill in the blank template and instructional videos with tips and examples. To learn more visit click here.