Here at Gravity Funding, we’re always looking to help entrepreneurs enter the SME (small and medium-sized enterprises) market. Working for yourself is great fun: the type of liberating experience that we all crave, but while a select few are lucky enough to start a business at eighteen or nineteen and never look back, mere mortals like us need to work a full-time job and build the “hustle” on the side.
So, here are some tips for getting that business going.
Give yourself an office
A dedicated working space is a must. While it’s tempting to open up your laptop in the lounge at home, you should be treating your side gig as a real business, and real business comes with an enclosed space to accommodate a desk, office chair, phone and laptop. Find somewhere in your house that will do the trick, and make sure you leave space for quality working time.
Build your network
Scour the net for events you can attend after office hours that will put you face-to-face with decision-makers in your industry. Rub shoulders with peers; people like you who might be doing this gig on the side. Dress to impress and act the part. Even though you’re not doing this part-time, no one needs to know that. In fact, many entrepreneurs suggest “faking it until you make it.”
Manage your time
There are a lot of time management apps and productivity trackers online that can eliminate distractions and help you get as much done in the mornings and evenings as possible. It’s often good to add a spot of exercise to your routine: anyone who works 24/7 is sure to get burnt out. Where possible, work smart, not hard, which leads us to the next point…
Delegate where possible
If your business can be fulfilled by remote workers (and let’s face it, 75% of business today can be) hire a freelancer in lieu of a full-time staff member. There are plenty of freelancing websites host to young and hungry workers who will provide you top-tier service at a good price. In fact, freelancers tend to be a good bet no matter how established your business becomes because they’ve often got that get-up-and-go drive that’s lost in 9-5 employment.
Remember: it takes time
Unless you’re incredibly lucky, chances are you’re going to need to invest a lot of time and energy into fulfilling your dreams. Even then, working for yourself full time can be lonely, and it comes with headaches you don’t need to countenance when you’re employed. Things like filling out tax returns can be a headache, but if you’re deadest on this path, give it all you’ve got.
Short term loans can get you off the ground
Once you’ve reached the point where you think it’s time to hit the big red button and go all guns blazing (which includes quitting your day job) consider using short-term loans to get off the ground. Also, remember that it’s possible to cut costs in several ways: freelancers in lieu of full-time staff; hot desks instead of an office; freebie products from industry contacts you’ve acquired and more.
In the end, there’s no feeling more exhilarating than starting your own business. If you’re working a 9-5 and building your hustle on the side, you’ve got the benefit of a stable salary and the opportunity to go it alone when the time is right.