Sage Advice UK

How to launch your business part-time

 

Starting a business can be a giant leap of faith and a huge financial risk. We’ve all heard accounts of those who risked everything and succeeded in business, but also the horror stories of those didn’t fare so well.

It might not sound like the sexy option, but starting a business part-time on a small scale, may be just the approach you need. Small steps rather than a giant leap can still get you to the same place and perhaps with fewer hitches on the way, because you will be able to review your progress with clarity.

Here are 3 tips to make those first tentative steps count:

1. Make the time

Schedule this time in your diary as though it were a second job that you were employed to so. Hold yourself accountable and ensure that it is carved out to develop your business. Decide when you will you run your business: evenings, weekends, or perhaps you can work part-time.

2. Do your sums

It might not be your main source of income yet, but you want the scales to tip that way eventually, so make sure you cover costs, research and development and the other overheads you would need if you were doing this full-time. Take yourself seriously and your potential customers will, too.

3. Find a like-minded support group

Receiving guidance and support from those who are doing similar things will give you people to confide in, encourage and even network with. They will understand any of your difficulties, encourage you to learn from your mistakes and even motivate you. If you don’t know people in your area, you can use LinkedIn to connect with people anywhere in the world, and Twitter will help you see how other businesses operate.