How to start a business while working full time?
You could start doing your research while working full time. To motivate yourself, you could think of your research as a course you’re enrolled on! The result may not offer a certificate but a new or different journey in life!
Running a business will require learning on the job, so why not get used to the idea of lifelong learning from the start?
There are several areas to investigate.
The legal, financial and business planning aspects come to mind first: in the UK, the government website (Set up a business) gives some information.
Everybody would want to have a firm foundation in these topics.
So, one way to start is to look around for free business advice where you are and to contact them or to go there.
Another way to develop business ideas is to complete a course on your question: how to start and run the kind of business you may be considering.
There are many options accessible online. For example, during lockdown we completed online two of Coursera’s free courses on social enterprise and marketing: Coursera | Build Skills with Online Courses from Top Institutions.
Regarding the legal, financial and business planning aspects, just like any topic we can use the internet or have books to learn.
However, if there are resources on how to start a business in your community, rather than reinventing the wheel or struggling on your own, access them to learn from others and receive feedback for your ideas.
They may also know about funding or grants that are relevant to your business idea and are available for start ups.
At some point, you’ll have to find out if there is a need for your product or service.
Will the business provide you with income that can replace your current wages?
To get answers for such questions, you may run surveys to research people’s views about your business idea. If the results are favourable, you could start a small pilot to test the business idea in practice while you are still in full time employment.
If you’ve come this far, then you could launch your business or look for a different idea.
Don’t give up!
Having learned so much already about the legal, financial and business planning aspects of your initial idea, your next idea may be more successful.
And good luck!