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 on how to start a business without you having to quit your job.
When I was contemplating starting my own business, I began to make all of the excuses. I needed to pay my rent. I had studied for this, and I will fail, I won’t be able to grow this blog and more.
Back then, these weren’t excuses to me.
They were genuine reasons why I told myself I shouldn’t start my business. I had so many business needs that I did not know how to start, let alone build a business from scratch.
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 to start a business without quitting my job. I don’t hate my job. I would rather be retired already, but it is manageable for me to stay at my job and build 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.
But whatever your business idea is or the type of business you want to undertake, and you need to start somewhere so that setting up your dream can happen.
Let’s dig in, shall we?
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.
Being passionate about something is good and all, but I have to try something. Then you see what you like and what you don’t like. And after that, 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. It’s always good to think of how your business can be profitable but sometimes finding joy in what you do is equally important as making money.
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 on platforms like Pinterest and Instagram. You make the photos, so it should be fun sharing this knowledge & your joy with the world! While doing it, you’ll probably also find others that share your jo,y, and you can connect with them.
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? Setting up this online store to share 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 other 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 use them to start their 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, doing the exact same thing. Plus, when you’re trading in time for money, you have to keep working. 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, make books that you can sell. This business structure can help you focus on products and services that will benefit your marketing plan and business plans.
You look at what services you want to provide, then think about a related product. Think of how you can make the purchasing experience memorable too. These new business ideas will help you stand out and will contribute to your business growth.
If you have a business that sells to customers worldwide, you want to make sure they have a way to recognize your company whenever they see your product. Using customized packaging ideas is a great way to communicate and raise brand awareness in the marketplace.
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 a yearly dividend. With this dividend, you can buy more dividend-paying stocks. And so on.
You may try investing in M1 Finance. It is a stock and ETF brokerage that lets you invest for as low as $100. Check out our full M1 Finance review, learn more about the platform’s services, and start investing!
It might require you some time to educate 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 working for your money. This is one of the great lessons I learned from Rich Dad Poor Dad.
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 a feel for what you’re doing, you want to save costs, and you absolutely love everything that has to do with your company. As an entrepreneur, you want to see your business up and running in good condition, especially if you are a start-up business.
BUT the further you get in the side hustle, the better it would be to look for contractors or freelancers who can do some work for you. This kind of business-model means you get to spend more time working on the business instead of in the industry.
What’s the difference? The business is working on its strategy, where it’s going, building the business, and managing your team. You run your own business.
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? You get the creative juice flowing and come up with the best small business ideas to improve your business.
Focus on working on your business from the beginning, be aware of what you like to do and what you don’t want 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 and outsource the work that you don’t enjoy 100%, so you can focus on building up and growing your business.
5. Focus On A Great Team
As 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. A successful business includes having a good team with you to create a niche to build your business.
Good team members are doing everything you ask them. They fit in well and 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 an example), then it would be good to hire someone organized and on top of things.
When you have your fantastic 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
Many innovations 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.
Researching these innovations to become part of your business resources is a great factor for you to invest in if you really want to grow your business. Weaknesses in your operations can be quickly remedied if you operate your business with a sound and open mind.
With every task 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 what you’re doing every 30 minutes one week. Own your schedule.
Write a business plan to set up what you need to do to begin a business. It’s a lot of paperwork, but that helps you set up and open a business much more smoothly.
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 exceptionally well for 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 work on my blog in general. I’m not always perfect. I slip up sometimes and don’t meditate for days or 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.
Conclusion – How To Start A Business Without Quitting Your Job?
Becoming an entrepreneur is really hard work. That much is true. But if you want to start a business, you need to develop a plan and have the right mindset to do so. Have an idea for your business and build your business.
Challenges, excuses, and questions will always be there, but if you have the right belief and enjoy doing something, cultivate it and plan how to be your own boss.
Always remember that challenges are what make life more interesting. It is a necessary and normal part of all our lives. But overcoming these challenges is what makes life more meaningful. It all starts with a step. Ready to take that step?
What is your area of focus that you need to work on?