There are many people who are ready to start their own business but not yet ready to leave their day job. Balancing business and day job might be the toughest thing you need to face in your life but it can be a very great plan if you know how to do it since if your business blow up, you still have your day job to fall back on. Here is how you can balance your business and day job.
1. Commit Time for your Business and Day Job
In order to be able to balance your business and day job, you need to commit your time between the two. Create a schedule where you spend for your business and your day job, and stick to it. Create schedule for days in advance so that you will not end up relaxing too long and neglect your business or your day job.
2. Cut Back some Hours from your Day Job
If you plan on starting your business, you obviously need to cut back some hours on your day job. If not, it will be difficult for you to be able to work between the two. Cut back the hours at your day job gradually and use the evening of even after a full day to work on expanding your business.
3. Use Day Job to Pay Off Debt
When starting a new business, there bound to be a time where you have to take some kind of loans either to the bank or other financial firms. If your financial situation allows it, you should use the pay from your day job to pay off the debt first and also to create an emergency fund. By balancing the fund of your business and day job like this, you will be able to make a more sound decision for your business that will be beneficial for you.
4. Set Monetary Goal
In order to give yourself some motivation in your business and day job, you should set a financial goal for your business to be achieved so that your business will be secured when you finally quit your day job. By setting this goal, you will be more motivated you expand your business and once your business has a good stepping stone, you should leave your day job to be more focused in expanding your business.
Balancing between business and day job might seem very difficult at first but if your are determined to do it, you must find a way.