When I first started my freelance writing business in July 2014, I had no idea that I had the potential to make my freelance business my full-time job. I really started out only to supplement my income so I could make extra progress on my financial goals – specifically paying off debt.
But as I got more and more involved in the online community, I realized there was definitely a potential for my business to grow to the point that I could quit my day job. Thus, I set off trying to grow my business after work and on weekends.
Running and growing a successful business is hard work. Ask anyone you know who is doing it and they’ll tell you it is a lot more work than most people’s 9-5 jobs. So how can you grow a business on the side that has the potential to replace your full-time job’s income? Here are some tips from people who’ve done just that.
Work in the “Book Ends” of the Day
It would be impossible to grow your business while working full-time if you tried to get it all done during “normal” work hours. Instead, most entrepreneurs had to give up time in the evening or early morning in order to grow their business.
Chris Peach, author of the award-winning blog Money Peach, confessed that he gave up a lot of sleep in order to grow his business.
“My wife and I both work full time jobs and we have 3 kids under the age of 5,” Peach said. “I realized there are 168 hours each week and I felt we had hit the limit on adding anything extra. If I wanted to add anything in, something had to be removed. For me, it became sleep. Monday through Friday I work on my side business from 3 a.m. to 6 a.m.. That gives me 15 hours a week to dedicate 100%, and at 3 a.m., it’s safe to say no one is going to bother you!”
Give Up Other Hobbies
While many people I spoke to talked about sheer exhaustion from getting up early and staying up late to grow their business while still working full-time, Taylor Flanery, who runs the popular website Home Storage Solutions, said she had to give up an evening hobby in order to have more time to work on her business.
“I am not a morning person so getting up earlier wasn’t going to hack it for me. So instead, what I did was to give up TV” Flanery said. “That time I’d used to watch TV and kind of veg on the couch became my work time. I haven’t watched a TV show regularly now in 7 years.”
Work-Life Balance Can Be an Issue
With all the extra work of growing a business while still working a full-time job, finding a good work-life balance can become an issue. One way to combat this common problem is by keeping in mind that the extra work hours you are putting in and what you are giving up in exchange for growing your business is temporary.
Award winning freelancer, Holly Johnson agreed that time and balance was a big issue for her, but eventually it all worked out. “For at least a year, I gave up almost every holiday and weekend. Fortunately, it all paid off,” Johnson said.
Eventually you’ll have to choose between your business and your job if you want to be successful at either one or the other.
This is something Grayson Bell, who offers technical services for blogs and small online businesses recently realized.
“I couldn’t scale my business,” Bell said. “I had reached capacity and the business couldn’t grow any more until I dropped one (or the other). Luckily for me, I dropped the right one and went full time with my business.”
Other Options
Although all of the experts in this article ended up choosing to take their businesses full-time, there are other options to consider as well. One great way to be able to continue growing your business without giving up your full-time job is by outsourcing.
Hiring a virtual assistant can help you with lots of different tasks that need to be done but aren’t necessarily the things that help your business to keep growing. For instance, many freelancers hire a virtual assistant to help manage email, keep track of accounting, and to keep an eye on their social media accounts.
Additionally, outsourcing is also a great way to grow your business even larger than you’d be able to do on your own before you quit your job. Outsourcing routine tasks allows you to spend more if your limited time focusing on bigger issues, like seeking new clients.
Growing a successful business while working full-time can be very difficult. You have to make some tough decisions about when to work, and how to grow your business with very limited time at your disposal. But in the end, it will be worth it when you are able to make the leap and begin working for yourself full-time.
“You can only grow your business when you’re working on it!” Bell said.
Do you have any tips for growing a business while working full-time?
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