Are you a business enthusiast and love to start a business while working full time, but you are unsure if it is good?
Well, it is good to run a business while working full time only if your business won’t conflict with the company you are working for. There are various ways a side business can conflict with your primary job.
For instance, you may sometimes use your company’s time in your own business when your schedule becomes extremely tight. This example is just one of many ways a side business can conflict with a worker’s primary job. Kindly read on to discover other examples and learn how to run a business while working full-time.
Can I Run a Business While Working Full time?
As a full-time worker, you can run a business if you have all the needed resources. However, there are some principles you must abide by. And they are:
Don’t use your Employer’s Resources in your Business
As an employee, the company that employed you will give you some resources to work with. Your side business may also require some of those resources, and you may assume it’s okay to use those resources in your business. However, using your employer’s resources, including intangible resources like trade secrets, is unethical.
Don’t use your Employer’s Time in your Business
As an employee, you should note that it’s unethical to attend to your business within the hours you have agreed to work for your employer. If the little time you have to yourself after closing hours isn’t enough to run your own business successfully, you should employ someone to assist you with your side business.
Can My Employer Sack Me for Starting My Own Business?
There have been instances when an employer sacked an employee for starting a business. The truth is that most of the employees that got sacked for starting a business breached employment contracts after starting their own business, so the employer had to sack them.
Hardly will any employer sack you for starting a business unless you breach the employment contract. So, if you want to avoid getting sacked, you should take your time to go through all the agreements you signed when you were employed.
Agreements vary from employer to employer, so we can’t list all the possible agreements. Nonetheless, we will list two common agreements. Here they are:
- Agreement not to start a competing business while you work for your employer
- Agreement not to disclose certain information about the company to outsiders
How to Run Your Business as a Full-time Worker
Many employees got sacked by employers for running a personal business while working full time because they don’t know the knack for doing it. However, here are a few tips you need to run your business successfully while working full-time.
Keep the Business Simple
We recommend keeping your side business as simple as possible while you are still working full time. Having a simple business allows you to run and monitor your business efficiently. Once your business becomes very complex, you will have to quit your full-time job and focus on your own business. So, if you aren’t ready to quit your job yet, you should keep your business simple.
Outsource some Tasks
As a full-time worker, you may not have enough time to run your business all by yourself, even if you keep the business very simple. Hence, you shouldn’t hesitate to outsource some duties when your schedules get too tight. Just make sure you outsource tasks only to a skilled worker.
Stick to a Business Plan
Don’t run your business by trial and error, but rather create a plan and stick to it. If you notice that your plan isn’t working out well, adjust it and stick to it.
What Kinds of Business Can I Start While Working Full-time?
Some kinds of side businesses don’t suit full-time workers. For instance, a full-time worker shouldn’t run a business requiring constant attention or businesses involving frequent travelling. Even if you meet eb2 visa requirement and have your visa ready for business trips, you won’t have time to travel too often since you are a full-time worker.
Hence, you should limit yourself to businesses that won’t require much time and effort. A few examples of those businesses include:
- Online coaching: You can teach any profitable skill at your own convenient time. If live classes can’t work out, you can record lessons and upload the video.
- Remote freelancing: If you have digital skills you can sell to people, you can start a remote freelancing business. Some freelancing jobs don’t require much time.
- Stores: You can make a lot of money from stores without spending much of your time. You can even employ someone to sell items on your behalf. The same fact applies to online stores. In fact, online stores are easier to run compared to physical stores.
Final Words
It’s a good thing to run a business while working full time. But while doing that, ensure your business does not affect your commitment to your employer. And if you’re just considering starting a business while working full time, opt for a business that requires little or none of your attention. By so doing, the sky is your limit!
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