Not everybody is lucky enough to start their own business without any work experience. Many people prefer to work full-time jobs before they decide to become an entrepreneur. Perhaps you do not like the idea of having a boss and are eager to start your own business or want to use your own critical thinking rather than just being told what to do. In any case, these feelings tend to make full-time jobs seem intolerable. The major reason why people choose to start their own business while working full-time is because a new startup is a risky investment and chances are you will start off slowly and it will take time for your business to bear fruit.
Here are the pros and cons of starting your own business while working a full-time job.
Benefits
The major benefit you will get from working a job is financial security. Starting your own business can be risky, especially if you do not have a secure source of income that will get you through the rough days. Start by planning ahead. What will you do if your business collapses? You will be left penniless and without a job.
It’s best that you keep your day job while starting your own business. It is to be noted that if you keep the job, you can quit anytime you want, but once you quit the job, it will become difficult for you to get it back. The company’s resourcefulness can be beneficial for your new enterprise. Branch out to your colleagues and employers for new ideas. You never know what may work out for you.
Drawbacks
The most obvious drawback is the extra time and effort you will have to put in to make your business thrive. This will include taking off extra time from weekends and going home tired from work only to do more work. This also means it will take longer for your business to start running properly. Secondly, you start to think of your startup as a hobby rather than a serious business. Thirdly, you might also want to put in a little more effort at work. You do not want to hinder your performance at work because your employers WILL notice.
While working a full-time job while starting your own business has clear advantages and disadvantages, it depends on you if you can balance the two. Studies have shown entrepreneurs who start their business while still being employed have an edge over those who don’t. You can learn a lot from your job, and while it is difficult to manage both, it is still doable.
