Thinking of setting up your own business whilst working full time? We have some important advice

August 20, 2018


Many of my clients have started their business in this way; bored with their 9-5, their mind starts to wander, and this is where a business venture idea can be born. Many end up working their standard full time job whilst working on their own business in their spare time.


It can be a lot to juggle, but giving up the 9-5 job that offers security and stability to take a leap of faith into the unknown is a very daunting prospect.


So what makes the budding entrepreneur take this leap of faith?


Well I know what made me take mine; the passion and love I have for what I do, coupled with the idea of being able to help others with the knowledge and skills I have. I know, cheesy right? But it is true.


So what will inspire you to make the jump?


Could it be the idea of working when you want, building a more flexible work life balance to suit your home life?


Or could it be the potential to earn more money? Who doesn't want to earn more money, after all money does make the world go around.


Or maybe like me you simply have a desire to help others. Maybe by making a product that no one has thought of yet that could be revolutionary or maybe you know you can provide a service to the public that is better than what is currently available?


Starting your own business takes a lot of sacrifice and commitment. In the early days you will probably work harder than you have ever worked before. However, knowing that this is your business makes the extra hours, blood, sweat and tears much more worth it.


It is still important to look after your health so make sure you set some boundaries and take breaks where you can. If your business is born out of a hobby, make sure you find other ways to relax and unwind.


Remember, not every idea will work. The key is to recognise this early and move on, do not sit on the idea, this will only hold you back. In business if you don’t try, then you will never know. You have to give it a chance otherwise you will never know if it would have worked. Its ok to fail. As the great saying goes, if at first you don't succeed, try, try and try again.


Success is the result of perfecting what you do, working hard and learning from your mistakes. Don’t give up, just dust yourself off and get on to the next idea. The next one might just be your big break!


Whilst you should always follow your dreams, do not forget to be a little realistic. Before you throw in the towel and quit your full time job, make sure your new business venture is making money, enough money for your to live on. Cut back and resist living the life of Riley until your business takes off. It can be a bit of a shock to work for yourself, getting used to the uncertainty of not knowing what you will earn each month, but patience is key, new customers will not come in overnight.


Although it would be nice, entrepreneurship doesn’t come with a guide book. So it is important to get yourself out there, network with fellow entrepreneurs and mingle with like minded individuals. Sometimes in life it is not just about what you know but who you know. Draw on their experiences.  


If this is difficult to do, there is a wealth of advice from business owners that were just like you online. The internet is awash with social network groups for discussions, great articles, insightful blogs and helpful tips, to help you when you need that little bit of guidance or reassurance.


At PBT we help many new business owners and I personally love working with a new business start up. It is a great time to connect with a business, a time when you can really make a difference, help them grow and watch them blossom.


If you have a great business idea but need some help getting it off the ground, I would love to help! PBT have an abundance of business knowledge and a bushel of contacts we can share with you. So why not get in touch with us today and kick start your new adventure!  


The world as they say is your oyster.


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Vicki Summersby FMAAT is licensed and regulated by AAT under licence number 1002105

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