Introduction

According to a grim statistic, 95% of companies fail within the first three years. If you’ve considered quitting your job and starting your own business, that statistic has definitely bothered you.

It’s possible that this is the reason you’re unsure of your willingness to put your financial stability at such a great risk. Although you may be tempted to follow your ambitions, your fear of failure due to lack of money may paralyse you, keeping you stuck in your 9 to 5 work.

You might start your business while continuing to work at your full-time employment, which is an alternative that is less stressful.

To do this, you must be realistic, avoid frequent mistakes, and carefully plan your change from employee to the business owner. You’ll be astonished at how doable it is to start a business this way, though, with the appropriate strategy. Even if it’s a lot to handle, you don’t have to handle it all by yourself. This is so that we can provide you with advice, important data, and coaching to get you going.

Slow growth builds strength

Starting a business “on the side” while you’re still employed is a wonderful idea because the most sustainable enterprises are those that expand gradually over time. You get valuable commercial experience while also having time to develop your concept and test your ideas.

Starting a business while you’re employed gives you the opportunity to develop your position, establish helpful networks, and pay off debts so you have cash on hand.

The best part is that beginning your business while you are still employed allows you to experience running your own company before deciding if it is appropriate for you. The learning curve is quite steep. As a result, you can discover that your employment serves as a haven from the pressures of starting and managing your own firm.

Be realistic about your abilities.

No matter how certain and enthusiastic you are about your new business, it’s crucial to keep it a secret for as long as you can. You can be perceived as a threat to your employer’s business if you’re beginning a firm that involves similar work to what you do for them by taking clients and “stealing” ideas.

Additionally, if you have one foot outside the organisation, people can assume that you are no longer dedicated to your position. This can cause you to lose out before you are prepared to decide to go. Additionally, it can make you a candidate for layoffs. Even while the payout could be appreciated, if you’re forced to quit before you’re ready, your startup firm might not be able to support you. Your financial stability can be in jeopardy as a result. It might be necessary for you to look for temporary work, which would be very stressful.

Assure modest business growth if your job is demanding. In your profession or your business, don’t take on more than you can handle. Otherwise, you’ll just burn out and be unable to give your best in either.