Have you thought about reigniting your career by starting a side business?
Well you may want to because according to the Independent, 40% of UK workers run a side business. Many of them are doing it to follow a passion or explore a new challenge.
Could you follow your passion?
Reading Time – 2.5 mins
You’re Having a Laugh
I like the thought of running my own side business Nick, but seriously when am I going to get the time to do that as well?
Before I try and answer that, let’s explore your motivation to find that time.
From my own experience of running a few businesses on the side including my coaching business, I have found that –
- It gave me new energy and focus at work
- It gave me a sense of satisfaction, recognition and fulfilment
- I was challenged again and grew as a result
- I met lots of interesting new people
- I loved talking about it to anyone who would listen
- It gave me some extra cash that paid for some nice holidays for me and my family
- It gave me the confidence to move it to a full-time business
What’s your motivation?
Start SloW, But Start
My advice would be to start with just a few hours a week. As you get going and get more motivated you will gradually want to and will find more time.
I ran an online software business for a while. I used to work on my laptop for a couple of hours a night when the children had gone to bed and my wife was watching television.
What downtime could you also use?
Side Business Ideas
Ok Nick, I am feeling a little more motivated and I think I can find a few hours, but I have no idea what to do as a side business.
I hit the same blocker with my online software business. I knew that I wanted to write an online software application, but I had no idea what application to write.
So, I started talking to online marketers as I was interested in that as well. One of them Jim Edwards said to me that he wanted an application to create and send out surveys that did not cost $1000. This was in 2001 so SurveyMonkey was not around.
Within 2 weeks, I created a prototype and demoed it to him. He loved it. I then iterated with him until it was finished and launched it online. The product sold well, but then I found a job that I loved and devoted most of the time to that. In 2002 SurveyMonkey launched and became the leading brand that everyone recognises today.
- Who can you speak to?
- What events can you attend to get ideas?
- What are you passionate about?
- What do people come to you for help with?
- What would you do all day even if you didn’t get paid?
- What does google say?
Don’t Get in to Hot Water
The employers I have worked for insist you declare your outside interests to them as they want to ensure –
- Your side business does not have a conflict of interest with them or their clients
- The number of hours you dedicate to your side business does not affect the work they pay you for
Check out your company’s policy to ensure you don’t get into trouble with your employer.
Go on, Just Dip Your Toe
- Are you motivated?
- Have you found some time?
- Do you know what you want to do?
Go on then, get started, what have you got to lose other than a few hours?
More importantly what have you got to gain?