This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

How to Keep Your Job While Getting Your Own Business Off the Ground

NEW YORK ( TheStreet) -- If you're looking to get a small business off the ground, you know just how daunting a challenge it can be. From the long hours to the start-up costs, entrepreneurship isn't easy, and there's always the chance your business could be a failure. For extra stability and cash flow, many entrepreneurs choose to maintain their full-time "day jobs" while launching their businesses in secret -- and it goes without saying that most employers won't be happy if one of their employees is moonlighting with an eye toward leaving the company.

Even if you're careful not to use work time or company equipment in your efforts, experts warn that juggling two jobs is a risky proposition. Going in, it's important to be "very realistic" about the needs of your new business and the needs of your day-to-day job, says Jerry White, director of the Caruth Institute for Entrepreneurship at the Cox School of Business.

"It is easy to think you can do two full-time things and then realize you've gotten yourself into an impossible position," White says. By the same token, "if you don't pay the bills, the whole thing collapses."

Before you begin, considerable thought should go into what kind of business you want to start and what kind of job you currently have, White says. For example, if you travel a lot for work, your new venture must be able to go on hold while you are away. If your business grows to the point that you find yourself filling orders while you're on a business trip or sitting at your desk, that's a problem.

"Using company time is a good way to get fired," White says. "The key is to format your business so that it fits around your day job."

It will become painfully obvious to your supervisors if you're not meeting your job goals or if things start stacking up at the office that you usually can work off, White adds. If you're serious about keeping your current employer happy you'll need to "be your own doctor and read the symptoms," says Marnie Swedberg, founder of B.U.S.Y.: Best Unique Strategies for You, a time management consultancy.

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs