If you are interested in being an entrepreneur but you don’t want to quit your full-time job yet, you may be wondering how to balance both at the same time. In this episode, we are giving our top five tips for how to do both successfully based on what we did personally.
Implementing one or two of these tips can be helpful, but if you can practice and master all five you will be in a great position once you are ready to go off on your own.
You can watch the video of our full discussion below or just listen to the audio version as a podcast. If you want more content like this you can subscribe to our Youtube channel.
1. Don’t waste time
If you are currently employed and getting paid, take advantage of the time you have to build your side hustle. Don’t waste downtime and breaks on playing games or checking social media. Leverage that downtime to do something productive to build your side hustle. It may feel like you have two jobs at once, which is challenging, but keep your goal of entrepreneurship in mind and know that it will all be worth it in the end.
2. Leverage the company assets
If your company offers free or paid for workshops, training, conferences, etc.. take advantage of them. And it may even be something that doesn’t directly have to do with your current role. Think about the skills you will need to have as an entrepreneur. You will need to know how to sell, you will need to know about marketing, you will need to know a little bit about IT.
When you run your own business you have to wear a lot of hats and know at least a little about a variety of things. So use this time to build your skills. You should also take time to interact with people outside of your department.
3. Use the company brand to build your own brand
Everything you do inside your current company could help you when you go out on your own. Now is the time to use your company brand to build up your arsenal for your own business. Use the brand to speak at conferences, or for media opportunities, or for network building. When you start your own business use the brand to pitch venture capitalists or to show people your credibility in the industry.
4. Start small and be smart
While it is very easy to want to jump ship as soon as possible, make sure that you have a plan in place and that you prepare before you go off on your own. Get a good idea of what your budget is for everything you need to live. Ideally, you can stay at your full-time job until your side hustle is paying for those main expenses.
And if possible, try to have a safety net of savings for at least a few months just in case something happens. It may be exciting to think of truly going off on your own but do it wisely.
5. Build your network
It is important to build relationships with your coworkers, your managers, and your customers. Who knows when those relationships could come in handy when you go off on your own. Get endorsements and testimonials when you can. Attend work events such as conferences to grow your network as well. Take advantage of any chance to meet new people and build connections. It will pay off in the long run.
This episode is sponsored by GoDaddy.
Meet everyday entrepreneurs and learn about the hustle behind their business in the School of Hustle podcast from GoDaddy. Host Sarah Funk, NYC tour company owner, producer, and YouTube Creator, chats with everyday entrepreneurs about their successes and struggles and gets real strategies you can use to help your business thrive. Listen on Apple Podcasts or wherever you get your podcasts.