How Can You Start Your Own Startup With a Job?

Most people today want to start their own business. However, not all have the means or resources to invest in their startup. This is why some of them go for a job and that is perfectly fine. But instead of sticking with your job and being satisfied with what you got all your life, you should try to expand your horizons and consider doing what you always wanted; launching a business! But is it possible to start your own venture while working full-time? The answer is a big loud yes!

It is one of the best ways to go about it. This is because you will be having a dependable and stable source of income that will give you enough confidence to test the waters with a new business. And you wouldn’t be so worried if the idea fails because you will always have your job. With that said, let’s now look at five ways to start your own venture while employed.

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#1. Validate Your Business Idea

Thinking of a business idea is not as simple as some might think. It is a time taking process that will require some serious effort. But in the end, it will all be worth it. Whatever idea you come up with, you have to see if there is a need in the market for it. Also, before you start investing, it is best if you ask your audience about what they think of a produce/service and if they will be interested in trying it. This will help validate your business idea and will let you know if you are on the right path or not.

#2. Establish Measurable and Attainable Goals

Once you have validated your business idea, you have to develop measurable and attainable goals. Also, define a realistic deadline within which you aim to achieve them. This will set a direction for you. And then you can make an effort towards it without any worries. But the goals shouldn’t always have to be long-term. You can even plan out daily or weekly objectives. It would help you stay focused.

#3. Does Your Business Have A Competitive Advantage?

Another important thing that you should ponder upon is if your business has any competitive advantage. For those who are unfamiliar with the term, it means a unique advantage that lets your business yield more sales or acquire more customers as compared to your competitors. This competitive advantage can be in the form of product offering, cost structure, customer support, or distribution network.

#4. Define Your Game Plan & Outsource Everything

Your next step is to carefully define your game plan. You will need to be really proactive with this. You can expect to encounter a lot of obstacles around the way. However, you will need to know how to steer your startup in the right direction. Your problem-solving abilities will come in handy here. Also, it’s best if you outsource as much part of your business creation as you can. Obviously, this doesn’t mean letting others define your business’s roadmap or goals. It means that you do what you are good at while letting others handle those aspects of your startup that you can’t do easily.

#5. Never Blur the Lines Between Work and Personal Projects

If you are under a non-disclosure agreement or non-compete clause then it is mandatory to respect it. This means that cannot create a better version of the company you currently work at. And no matter how tempting the idea sounds, you have to remain ethical. Also, it is not right to use your company’s resources for your own project needs. Moreover, you should avoid taking the help of other employees.

#6. Establish Your Business & Quit the Job

It is important for you to keep working on your business before you even think of quitting your job. You can get caught up in a lot of different problems if you resign while your startup is still in its initial growth phase. Therefore, give your venture some time and see how things are going. And when you think that the business has started to pick up and is demanding more time and effort then it’s safe to leave your job.

Conclusion

There is no doubt that doing a full-time job has its perks. Plus, many companies include attractive benefits in their talent acquisition strategies that it becomes hard to refuse the job offer. But some people are still motivated to do their own business. If you are one of them then you can try establishing your venture while being employed. All you have to do is take the above-mentioned steps into consideration and you will be on your way to becoming your own boss!

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