It can be frustrating if your home-based business is a part-time business because you still have your ‘day job’. Maybe you haven’t reached a high enough level of success in your home business yet and still need the income from your ‘day job’. But a business can only grow if you can put lots of time into it and with that day job, it’s hard to find that time. When a home-based business is part-time, it tends to spread the entrepreneur a bit thin – like that proverbial place between a rock and a hard spot.
Perhaps circumstances don’t dictate that you ‘fire your boss’ just yet, but what about some interim steps?
Reduced Hours – Can you ask your employer for reduced hours? Sometimes employers will like this idea because (depending on the circumstances) it might mean a reduction in their payroll expense. Payroll is usually one of the largest expense accounts on the company books and companies are constantly looking for ways to reduce it. A reduction in hours at your ‘day job’ can free up several hours a week for your home-based business.
Compressed Work Week – If your employer doesn’t like the idea of reduced hours, how about a compressed work week? For example, instead of working five 8-hour days, could you work four 10-hour days? In this arrangement, you’re still working the same 40 hours, it’s just distributed differently. The advantage to you is that you would then have a whole day freed up to work on your home-based business.
Telecommuting – What about doing your work from home a day or two per week? Not all jobs accommodate this type of arrangement, but some do. Working from home for your employer two days a week or so will at least save you the commute time – sometimes that alone is fairly significant.
Contactor – Not for the faint of heart, but can you turn your own job into a contract position? This works particularly well if you are a salaried individual and your job can be outsourced. If this is the case, take the initiative and outsource it to yourself! Most employers will see the benefit of this because they will be able to cut one position from their payroll (see above) and in addition, this will mean they won’t have to pay you benefits either (also a significant expense to them). So from the employer’s perspective, if it makes sense to outsource the position, they’ll usually grab the opportunity.
Give Your Notice – When all else fails, give your notice (also not for the faint of heart). In some situations, you can give notice for a date fairly well into the future (such as six months from now) making this sort of an interim step as well. A long range notice can give you time to ease out of your job and into your full time home-business.
If you’re truly serious about making your home-based business work, then you’ll need time to work it. If you still have that ‘day job’, maybe you can use some of these ideas to make the transition. Or maybe you have other ideas? Feel free to post a comment.