In the past, if people were considering starting a business, they felt like they had to make the leap and quit their full-time day job first. That’s not the case anymore, and an increasing number of people are starting side businesses while also working full time.
There are a lot of good reasons to start a side business without actually quitting your day job, at least for a while. From renting out your unused RV to starting an e-commerce site, there are countless business opportunities out there.
There are of course some things to consider including the fact that you’ll probably have no free time and your weekends will be packed with work for your side business, and you’ll be under a significant amount of stress. At the same time, for a lot of people, the downsides are worth the benefits.
The following are some of the best reasons to start a side business now.
1. You Can Explore Your Creativity
Often when you’re working in a traditional 9 to 5 job, you may not feel completely fulfilled. It’s easy to feel like you’re just working solely for the financial aspect, without having a lot of freedom or opportunities for creativity. If you start a side business, it can let you fulfil your creativity in different ways.
2. Opportunities For Trial & Error
It’s intimidating to start a new business. There are going to be a lot of learning curves, and a lot of mistakes will be made. If you quit your full-time job in order to start a new business, these mistakes can be costly. You can find yourself in difficult positions, and there’s not a lot of time for you to spend learning from your mistakes. If you start your business as a side opportunity, these periods of trial and error won’t be as expensive or as costly. By the time you’ve honed in on a formula that works, you can then consider moving toward taking on your business as your full-time gig, but you have wiggle room in the meantime.
3. Your Salary Can Fund Your Business
For people who opt to dive full-time into their new business, there’s the question of how to cover start-up costs. This often means that people rely on credit cards or loans, but if you start out as a side business, you can use your salary as a way to fund your business without going into debt.
4. You Can Build Your Business Slowly
When you have another source of income at the same time as you’re creating a business, it affords you the luxury of building it slowly. You don’t have to instantly be profitable to survive, so you can really focus on having strong fundamentals and working your way up and scaling as is appropriate. Finally, taking the urgency out of growing a business can be beneficial in so many ways because you’re not making decisions out of a sense of fear or anxiety, and instead you’re making choices that will genuinely be good for your business in the long-term.