A few reasons why you should start a business while holding your regular job:
- It takes several years for a business to become profitable. If you have a regular job, you can depend on your job while waiting for your business to grow. Having a regular monthly salary from your job helps take pressure away because you don’t depend solely on the income from your business. Thus, you have time to wait for your business to grow and become profitable. You can patiently wait for your business to grow and become successful instead of being pressured to take steps that may hurt your business or close doors. (It takes at least a year for a business to become profitable.)
- You can use part of your salary to finance your business.
- A personal business gives security so if you are laid-off from work in the future or want to leave your job for any reason, you have your business to turn to.
- Having your own business gives a sense of freedom.
- Small business is the number one source of new jobs. Since the number of people unemployed is so high, you can provide a job to someone while waiting for your business to grow.
- It is easier today to start a business with fewer expenses than ever before. Home-based businesses and online businesses are on the rise, reducing the need for a brick-and-mortar presence.
- There are many resources for new startups including telephone-answering services; mail forwarding services; outsourcing services that provide secretarial and administrative assistance; and day offices and business lounges you can rent on a daily or hourly basis to meet clients. These make it possible for a firm to be in business without having to pay a regular monthly wage or rent.
So if you’ve got the expertise and the entrepreneurial spirit, starting your own business while holding your regular job (whether on a full-time or part-time basis) can be the best move you make.
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