13 Mar 2019, 07:00 — 3 min read
The idea of being your own boss sounds ideal, but the journey towards becoming one comes with a lot of risks, especially when you’re in the process of making your business sustainable.
When your business is not yet generating enough revenue, it’s sensible to keep your regular job so that you have a stable income as back up for unforeseen expenses. However, managing the two is no easy feat. Here are some ways in which you can handle your business while having a regular job.
1. Master time management
Managing your time is the first thing you should master. Your time is often tight when you are running your business while doing your day job. Make sure you set your schedule and stick to it. It may be challenging in the beginning but it will surely pay off once you master it. Consider your time as your money that you need to utilize well. Without time management, your day-to-day schedule can be a catastrophe which can lead to stress and burnout.
2. Streamline your process
To save time, you should learn how to automate or streamline the processes of your business. If you’re currently a one-man team, outsource some of your work. For example, the stress from filing taxes can be overwhelming, but you can streamline this daunting process of filing and paying taxes by availing Taxumo’s service. With Taxumo, you can enjoy real-time tax calculation and automatically filled-out tax forms – no need for you to have an accounting background.
3. Plan an exit strategy from your full-time job
As your business continues to grow, it’s not advisable to work on your full-time job while running your business. Managing your business isn’t easy; What more if you juggle it with your full-time job? It takes commitment and full attention to ensure success for your venture. Maximize the steady income you get from your full-time job to your advantage. You can start from creating an emergency fund that can cover six to twelve months of living expenses. This can help you have a smooth transition once you embark on your journey of managing your business full-time.
Juggling your full-time job and your business can be challenging, but it will definitely be worthwhile in the long run. Keep your eyes on the goal. Be strategic and organized so that you can eventually put all your focus and attention to your business.
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By Geet Jalota