How to Kickstart Your Business and Hold a Day Job
"Good luck".
People think it's impossible to kickstart their business while holding a day job. I know numerous individuals who have either tried and failed, or think it's too hard, so they don't even bother trying. More often then not, they limit themselves to one of two options. Either they hold a full time job and bootstrap their startups in the evenings/weekends, or completely quit their jobs and do it full time.
Here's the problem: Both options are fundamentally flawed. Both are drastic and have their drawbacks.
The biggest problem with the first is burnout. For more than a year, I tried working on personal projects whilst holding a full time job. From experience, it's hard getting things done at the end of a long day. You lack the energy and enthusiasm to work on anything else after leaving the office. And this will probably affect both your day job and new business more than you can imagine.
You'll lack the energy to think clearly. You'll lack the ability to focus on one thing. You'll lack the drive, motivation and enthusiasm to see your plans through. It's important not to let this drag on for months on end, because it can kill any passion you originally had. If you are stuck in this unfortunate state, try taking a break or short vacation for a week.
So do you have to quit your day job completely? That brings its own set of problems too. While you're free to implement your ideas, you loose the security of a salary. That can become a nagging thought at the back of your mind too. Especially when you are bootstrapping and have several financial responsibilities to fulfill.
And what if you've dipped your toes into starting a business, and realize it's not what you want in life? You've just quit your day job, so finding another one would take sometime. If you can tap on your connections to find some opportunities, then great. If you're going through the traditional route of submitting your resume to job offers, there will be extra work and hassle involved.
If both options are undesirable, then what does one do? As is everything in life, the best answer is not black or white, but some shade of grey in between. At the end of the day, starting a business is simple (note I didn't say it was easy). It's about balancing the resources available to you. These are your time, money, skills, etc. It is your job as an entrepreneur to use these resources and create something of value that people want.
The question is: How can you strike a balance? One that lets you experiment and launch something, while still maintaining a level of financial security? Ready for it? Here it is.
Find a job with a 4-day work week.
Or a 3-day work week, if you're confident. You'll immediately get more energy, time and freedom to pursue your new business, and some level of financial security. I'd suggest you start by showing your boss/supervisor that your job can be completed in 4-days instead of 5. For most, this should be possible, due to the inefficient workflows and habits we use in the office today.
If the organization you're with right now is too inflexible to allow that, your best bet is to find a new job that is more flexible. Whatever you do, make sure your employer is perfectly comfortable with your personal projects outside work. Re-read your employment contract, as some companies can claim what you do in your free time as their own.
There will be trolls who will cry "but my boss would never allow that", or "this organization is too inflexible for that". Part of being an entrepreneur is being creative and taking calculated risks. If you feel too comfortable to do something different, perhaps you need to reconsider your motivation to start a new business.
This week, try negotiating for a 4-day work week. You might just be surprised how much more you can accomplish in the weeks ahead.