This Day On The Street
Continue to site
ADVERTISEMENT
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

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

"If anyone comments about how tired or distracted you seem, or notes a slippage in your attire, performance or output, you're overdoing the new business," Swedberg says. "If you are tardy or taking more sick days than usual or you feel more easily upset or frustrated at work, you are definitely at risk."

The best way to prevent this is to "completely compartmentalize" and refuse to shortchange your current employer, Swedberg says. Entrepreneurs should look to reframe both positions, and instead of thinking of a "full-time, bill-paying job," they should think of their day job as "what I do from 9 to 5." Instead of a "time- and money-sucking start-up," think of their venture as "what I do from 7 to 11 p.m. and Saturdays."

"This is a small mental shift, but it provides a huge release," she says. "There is no reason to jeopardize one for the other if you are willing to put in the hours at both." 


Taking that strategy one step further, Swedberg says all entrepreneurs should have one full day per week that's a true break--no work at all.

"You will be amazed how many more ideas and energy you have for both," she says.

During this phase in the life of your business, it's important to focus on one task at a time, says Matt Julian, director of customer acquisition at BizFilings, a small-business incorporation provider.

"Focus on the task in front of you. By lending your focus to one challenge at a time, you'll generate better ideas -- whether for your current position or your start-up," Julian says, adding that savvy entrepreneurs understand that launching a company involves an enormous sacrifice of private time.

"It's a no-brainer that entrepreneurship requires personal sacrifice," he says. "To efficiently manage the effort required to start a business as well as your current job, be prepared to give up your personal time. Your hobbies or time spent with friends may be temporarily sidelined, but if you're willing to make some small tradeoffs in the beginning of your life as an entrepreneur, it proves you're passionate about your business idea and want to see it succeed."
2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AAPL $125.69 -0.25%
FB $87.22 -0.38%
GOOG $525.02 0.41%
TSLA $267.88 -4.23%
YHOO $38.23 -0.98%

Markets

DOW 17,776.91 +93.33 0.53%
S&P 500 2,081.34 +12.58 0.61%
NASDAQ 4,997.4590 +5.5190 0.11%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs