Most people are at a loss when it comes to side businesses and what to do with the time and effort they spend outside the hours of 9 to 5. The secret to success, every time, is to build a second business. Sometimes we call it a side job, but we are talking about a separate operating section of a larger business that is profitable both independently and as part of a larger organization.
Grow the pie: Every company has a need to move forward in their business so that they’re counted among the ranks of a growing business, and the fastest-growing business is the home business industry. According to Entrepreneur magazine individuals with businesses are the fastest growing corporate entities in America.
Two dilemmas for entrepreneurs who are working outside the corporate environment:
- How do I grow my business while still working full-time in the corporate job I have been forced to do part-time in the past? And,
- How do I brand myself as a business owner in a world that now demands that I produce and sell my own products and services?
The workaround for these issues is to make yourself as employer-centered as possible. You need to take the initiative to create a separate workplace where you can market yourself as a business owner. Don’t make the mistake of believing that you can’t be a business owner. This idea is only troublesome for those who areTooBroody.
slack your approach to the work of others,
locks you into a prescribed plan, or
holds you back from achieving greater heights.
It is important to realize that a prescribed plan or roadmap will most likely include some self-sacrificing elements. It is best to find a mentor, friend, or coach that can be your shoulder to cry on in those days of doubt and dark nights of exhausting hope when all seems lost.
Format for your Business
Let’s start with the structure of your business. Before you get started, ask yourself a very important question: Do you really know what YOU want to do with your business? Take a few minutes to answer this question and, if you find yourself with a blank stare, continue on.
Many new business owners begin with a setup of their idea. They buy some equipment, hire a few employees, list their service charges on a contract, sign the contract and then put the entire package together. They thought everything would fall into place overnight. And, the sad truth is that most ready-made business plans are destined for failure before they ever get the ball rolling.
University graduates, for example, may decide to go back to their alma mater to become a teacher. From a planning perspective, why not? You have knowledge, skills, and experience that are valuable in a variety of situations. But a “trained” teacher probably wouldn’t be as successful, and a “self-taught” teacher might not have that advantage.
It’s hard to be an ” unrestricted” marketer when you are engaged in a CV preparation and retraining project, as you are trainees in the world of tertiary education. It’s better to have a set of guidelines in your arsenal that you can call on continually, without having to guess what to do all the time.
Think about the “big picture” and you will understand why it is important to you.