Do you want to start your own business? But, you’re afraid to quit your job? I think we all feel that, so no worries. I will list seven ways to start a business without quitting your job.
When I was contemplating starting my own business, I started to make all of the excuses. I needed to pay my rent, I had studied for this, I will fail, I won’t be able to grow this blog, and more. Back then, these weren’t excuses to me. They were very real reasons why I told myself I shouldn’t start my business.
Today, these reasons are still very real. However, I am aware that these reasons are excuses not to get me started in the first place. When I had this insight, I started to think of ways that I could start a business without it feeling like a big step, without quitting my job. I don’t hate my job. I mean I would rather be retired already, but it is manageable for me to stay at my job and built a business from there.
If you have a dream about starting your own business, but you just can’t see how to do it – start by reading this. Think about the first small step that you can take towards achieving whatever it is you want. Maybe it’s claiming your website domain, maybe it’s thinking of a name, maybe it’s finding a business partner.
My Seven Steps To Start A Business Without Quitting Your Job
1. Focus On Your Joy
I’m trying to avoid the word passion here. I believe that you don’t simply ‘find your passion’ and that’s the end all be all. I believe you are trying something, then you see what you like and what you don’t like about that thing. Then you’ll focus on doing more of what you like. Repeat.
So I believe in focusing on your joy, when it comes to starting a business. Since you have to do it in the evening hours and on the weekend, you better choose something you enjoy.
Ask yourself, what do I enjoy? Maybe it’s photography. That’s great, now find a way to make money doing it.
Can you start a blog? You can share your best photos and write about how you create them. Share your photos on social media, since a lot of
Can you write a book? You want to share your best 100 photos with the world, create a book.
Can you set up an online store on your website? You are sharing your best pictures through this online store, where people can download them. Maybe you want to offer them as a poster as well, so your work can be hanging in someone’s living room.
If you like something else than photography, find out what it is and try to make money doing it. It won’t even feel like work!
2. Focus On Products
Most people want to take the skill they use in their current job and take these skills to their starting business. While it’s great if you’re good at marketing, it’s not so convenient if you’re available as a marketing consultant for your clients.
Because you’re still working 40 hours per week in your regular job. When are you expecting to work for your own business? Not during business hours probably.
Because when you’re selling your time for money, you’re not owning a business. You’re owning a job. If you work in the traditional services sector, you have to sell your time. Meaning that if you’re not working, you’re not making money. You don’t want to be burnt out within months of starting your freelance career.
Instead of selling your time for money, create a product. If you’re a consultant, create a course that you can sell. If you’re a writer, create books that you can sell.
You look at what services you want to provide, then think about a related product. Once you do that, you’ll be making money even when you are sleeping. That’s the side hustle you want!
3. Focus On Investing
Investing can be a great way to build a business. You can invest in real estate and focus on renting out the property. When you collect the rent, you can use this to pay off the debt on your asset. After some time, you’ll be able to buy the next property.
Or you can start dividend investing, where you’ll buy stocks that get you yearly dividend. With this dividend, you can buy more dividend paying stocks. And so on.
It might require you some time educating yourself, to level up your financial IQ. You also need to prioritize saving. Read more about the 25+ incredible easy ways to save money here.
This is the classic example of your money working for you, instead of you working for your money. This is one of the great lessons I learned from Rich Dad Poor Dad. Are you curious about more lessons from this book? Read the 6 important lessons Rich Dad Poor Dad taught me.
4. Focus On Working On Your Business
When you’re running your side hustle, I understand that you want to do everything yourself. Me too. Especially in the beginning phase, I believe that it can be beneficial to do everything yourself. You want to get feel with what you’re doing, you want to save costs and you absolutely love everything that has to do with your company.
BUT the further you get along in the side hustle, the better it would be to look for some contractors or freelancers that can do some work for you. This means you get to spend more time working on the business instead of in the business. What’s the difference? Working on the business is working on its strategy, where it’s going, building the business and managing your team. Working in the business is doing the actual work, for example doing the consultancy work or being on the phone doing customer service. Can you imagine how much more you could get done when working on your business?
Focus on working on your business from the beginning, be aware of that what you like to do and that what you don’t like to do. Here I refer to what we already discussed in point 1, focus on the joy! Follow the joy and everything else will follow. I so so believe in that! Take on freelancers to do the work that you don’t enjoy 100%, so you can focus on building up and growing your business.
[Read more about starting a side hustle here]
5. Focus On A Great Team
Like we discussed, it’s important to work on your business and not only in your business. One way to do this is by getting a team. Getting great team members is very very important.
Good team members are doing everything you ask them, they fit in well and they are not complaining. Great team members have the same values as you, they believe in your company as much as you do and they go the extra mile to make sure everything is perfect. Great team members should also compliment you in personality. If you’re a chaotic person in nature (taking myself as example), then it would be good to have someone who is organized and is on top of things.
When you have your great team, you will do more of what sparks your joy and you will focus on working on your business. You do what you can do best and so do they.
6. Focus On Automation
There are many many innovations that help cut tasks and save hours of time. Use an automated email for your blog updates. Automate your savings and investing. Automate your bills. All of them. Automate your accounting systems. Automate everything! Nowadays, the possibilities in software and automation are endless.
The technology is already so advanced, that you’ll be able to find a tool for everything. If you spend a lot of time doing certain tasks, it could be very beneficial to automate this. Together with your team, you can automate certain tasks that they can monitor and update you about.
With every task that you do in your business, ask yourself: is it possible to automate this? Most of the time, the answer will be yes!
7. Focus On Your Time
A lot of people say that they won’t start a business because they don’t have time. I used to be one of them, until I realized that was completely untrue. You can always make time for a side business, if it’s high enough on your list of priorities.
If you’re unsure if you have enough time for your side business, think about how you spend your time throughout the day. If you’re not sure how much time you spent on everything, try to check one week what you’re doing every 30 minutes. Own your schedule.
If you want to start your side business, you will need to cut some things out of your life. Cut the TV, stop going out to eat or drink several times per week, cut your social and start doing. You will be amazed by the work you can do in 1 or 2 hours.
What works extremely well of me is creating more time by getting up at 6 am every morning. I get up at 6 and do my morning ritual. I do my meditation, visualization, and my affirmations. After that, I’ll start writing for 1-1.5 hours or I’ll work on my blog in general. I’m not always perfect, I slip up sometimes and don’t meditate for days, or I skip visualizing for weeks. However, I always get back on track and try again. And again. And again.
If you’re still not convinced that you have the time, I have some time-saving tips listed in my article about simplifying your life.
What is your area of focus that you need to work on?