Is having a job on the side a no go?

Hmm… Said between us... We don’t think so!

We have all heard the roaring of the Dragons Den and experts stating that it takes 100 % commitment and time to be a “real” startup entrepreneur - and it would seem that there is no room for a job on the side in that equation. Commit fully if you want to spur your startup into a success!

Well.. here’s our perspective for you…

Don’t quit your daytime job in a rush to become an overnight sensation. Most successful startups have been in the shadows for years before gaining traction and success. Calm yourself, work hard, but keep a minimum of income and a sense of normalcy while tending to your startup. The awesome feeling of making it will not be any less rewarding, just because you didn't spend the past four years living on noodles and ketchup.

New working hours for startup entrepreneurs!

The shape of jobs and working hours have shifted over the past decade and even more so now, in the shadow of the pandemic. More and more people than ever before are being measured by their performance rather than the hours spent in the office. This is especially true for people in knowledge-based job functions, where the nature of the output is made up of information, communication, services and the like. This has opened a door for startup prone entrepreneurs. So to state that a full-time commitment is the only durable precursor for startup entrepreneurs is to look at the business of starting a company as a thing of the mid-’90s.

There is no need to quit your daily job, if you can avoid it while getting a grip on your startup dream. According to smallbiztrends.com, 82% of startups are self-funded (*). Having an income on the side will get you a long way in that aspect.

No one plans to fail when starting on their startup journey, but let's face it, most do.   No need to go bankrupt in your attempt. Be reasonable and be aware that it will probably take you a lot of tries before making it big. Entrepreneurship is difficult, and that is why it is so rewarding.

So how do you manage a full-time job on the side as a startup entrepreneur?

Here is our advice:

• Wink farewell to 9-17. That part is done and over with. Your working hours and days are surely going to stretch into evening hours most days, if you are serious about your startup. Make daily plans for how you are going to manage your startup hours.

• Get support wherever you can. Reach out and collaborate. Team up with people, who are more experienced or even more skilled than you are. Do not be afraid to share your startup idea with like-minded people, who are willing to fight the battle with you (read: not for you).

• Get your affairs in order… Most startups start with a lack of capital, so looking at the ownership and dividing it between the people involved will spur engagement and probably the time used after hours.

Stay at it - and be smart about it!

Best regards
The Heroic Rhino Team.

Source:

(*) Most startups are self-funded or family/friends funded —  The vast majority of startup funds (82%) came from the entrepreneur himself or herself, or family and friends.

https://smallbiztrends.com/2013/07/home-based-businesses-startup.html