Many people over the world want to quit their 9 to 5 jobs and start up their own business, but only one obstacle they face is time dilation, and that’s why they always search about how to start part time business.
In the job, they are getting the salary regularly, at a fixed date of every month with a fixed amount.
Moreover, in the job people don’t have to wait for sustainability, they get their income as a reward in the next month, and the cycle keeps running until they leave the job.
Whereas in the business, nothing is certain for the first few months of starting a business.
If someone switches the job to business instantly, despite picking the greatest business idea, he has to struggle for a few months.
And due to this reason, many people withdraw from the planning of setting up a business due to a lack of information and strategic ideas.
But there is a middle way to balance both the job and business, which means, you will not have to quit your job, and along with that, you will be able to set up a sustainable business model as well.
Yes, and that is called Part Time Business, or Side Business, and you should never miss the chance to learn How to Start Part Time Business for career growth.
There are many benefits of starting a part time business as well, there is no need to start a part time business to generate only the side income.
Benefits of Starting a Part Time Business
If you are tending to generate the side income by starting a part time business, then let me tell you that it is the by default benefit and outcome of starting a part time business.
But here, I am going to educate you about the other beneficial advantages for it which will motivate you to start the part time business along with your job.
Doing a part time business is a sign of wisdom to maintain the financial stability of establishing a business.
Constant Income Flow
When you start a part time business, your financial structure does not get disturbed, and you can concentrate on both, job and business.
The income coming from the job remains to continue, and you can invest your time and money both to grow the business if you start it as a part time.
If you switch the job to a full time business without having more backup, your tough financial situation can ruin your business when it is about to get stable.
Let me explain this concept by the real-life example so you can coordinate it in a better way.
You are aware of the rocket or spaceship used for aeronautical and space research, they are made to travel millions of kilometers.
But the researchers fuel it only for some thousands of kilometers because it needs the fuel to fly until it crosses the gravity well.
Once it crosses the gravity, it does not need any external fuel to travel ahead, it is transformed into the automation mode, just direction needed to be changed.
Similarly, the initial money as an investment is like a fuel that is needed until your business gets stable, and then, you will not need any extra money.
If you start a part time business, your money flow will remain, and you can manage your family responsibility, and yes, of course, you will be handling the business as well very nicely.
Learn Time Management
Everything is not supposed to be learned by paying the money to someone. Business is like a tree, you will reap as you sow.
So you will have to set priorities, and you don’t know, you will learn automatically. In a nutshell, your time management skills will be improved automatically.
For example, you started a vegetable home delivery business part time, so you will become aware of your business responsibilities.
You will realize that if you do not deliver the vegetables on time to the customers, it will harm your business, so you will become punctual.
How to Start Part Time Business
Starting a part time business is not a big deal, but yes, it’s tough to work, because you have to divide your focus and concentration on the two different and opposite tasks.
In that case, there are many chances for creating bugs during both works, so you have to make a proper strategy before you start a side business for additional income.
To start a part time business, you need to make a dedicated plan for how you will be managing the time, how and at which time you will be dealing with customers, and what will be your priorities for your business.
Many people who start a part time business will be full of energy, and in a couple of months, they quit it due to an unmanageable schedule.
And, you would not have to do so, that is why I have written this article to guide you in the best way.
In this article, you are going to learn about how to start a part time business, and when you should make it full-time by quitting the job.
Track Your Schedule
If the basement of the building is stronger, you can build any number of floors on it, and it will become stable forever.
Similarly, before executing a side business, your groundwork must be perfect and failure-proof.
First, you have to track your schedule, and if you find anything wrong or missing in it, you must correct it first.
Analyze your daily routine and conclude how much time you are willing to give your side business.
If you are comfortable giving at least 4 hours per day to your business then only you should move on to the next step.
What are your job timings, and how much the total time is consumed during your job, calculate it first.
Generally, on average 10 hours are occupied in the job, and 8 hours are gone in sleeping only if we consider 6 hours then 16 hours are occupied for unavoidable activities.
Now, from the remaining 8 hours, you have to manage your time for the part time business, and it is the turning point and starting point as well for the side business.
Amongst these 8 hours, you have to adjust and dedicate at least 4 hours for your business with consistency.
Choose The Business Niche and Make The Business Plan
Now, this is another crucial work for you, and you have to execute this one with perfection because the selection of the wrong business will produce only the loss.
Here, you have a full choice about starting the business, you have to conduct deep research about different business ideas, part time business ideas, and business strategies.
Your first approach should be to find that business ideas can be started with low investment and without manpower.
Because the first thing is that you will not be able to manage the time in just a maximum of 4 hours, and more investment will ask for more effort, which is not possible for you initially.
For example, you can start a homemade chocolate business, which you can start with around 3,000/- rupees only without manpower.
This is just an idea for your reference, apart from these, there are many side business ideas that you can execute.
You can find the side business ideas on blogs and YouTube videos as well. There are multiple legit blogs and videos on the internet which suggest you the right ideas for starting a part time business.
Make Investment Budget Plan
Why do you have to make the investment budget plan, because you are going to start a side business on a small scale, and you are going to invest your savings as an investment?
For example, if you are going to start a garment selling business as a side business, you should know how much investment you need.
Now it depends upon how you execute the garments reselling business, and your strategy decides your investment.
If you want to start reselling by drop shipping then you will need less investment, if you are going to start it by associating with the online reselling applications, it will need almost zero investment.
Once you decide the niche of a business, do deep research on it, conclude which kind of equipment you need, how much will be other costs and recurring costs.
Along with gathering all data, research how much time it will take to reflect a perfect and expected revenue from that business.
After getting this data, make sure whether you have enough investment or not, if not, then how would you arrange it.
Weekly Plan For Business Modules
As a part time business, you will not be able to allocate very much time to the business, and if you work randomly, it will not return you any certain outcome.
You should make the weekly plan by dividing your business into different modules per day or per 2 days, or decided days.
For example, if you start a business of content writing, which is one of the best online part time business ideas, you should make a weekly strategy.
You should make the schedule that Monday, Tuesday, and Wednesday, you will be conducting research and on the rest days excluding Sunday, you will be writing the content on it.
This is just an example, and you can consider this example as a landmark to plan your side business.
Marketing Strategy – One Bonus Tip Included
Marketing is one of the strongest pillars to grow your business and increase the sales of your products.
But running a part time business, how will you be managing the marketing? Moreover, hiring a dedicated person for marketing is also not affordable, right?
Here, I am going to give you a bonus tip for marketing that you should implement and it will work in a different way for your business.
You should conduct only online marketing by spending a very little bit of money, and you will be paying only for work done.
For example, if you are running your business’s ads on Facebook ads, you will be paying for only the clicks or impressions (according to the terms you decided).
Whenever a query will be raised by the prospect, you can confirm and explain it via telephonic and online medium.
This strategy saves your time, transportation cost, and of course idle money that you were going to pay to the dedicated employee for the marketing.
Must Carry Your Business Online
As I mentioned earlier in this blog, you will have very little time to manage the side business, and that’s why the online presence of your business is very mandatory.
You should have a website or social media page, or both of them for taking the orders from the customers.
The reason behind it is that you will not be available for the customers all time, and if they have any queries, they will not be able to ask you according to their convenience, so you should leave an option to raise their query.
For this, if you provide them with a medium on which they can leave their queries, it is beneficial for your business.
You can answer their questions, doubts, and queries when you get a chance the earliest, and that’s why you should optimize your business on the internet.
Let The Customers Know Your Timings
This is another benefit of presenting your business online, you can let your customers know your working timings by this medium.
And these are essential steps to be engaged with the customers. If your customers are not aware of your validity period, they can consider your busyness as ignorance.
You should use the Whatsapp Business instead of the normal Whatsapp, and optimize your profile by mentioning the timings, and also set the automatic reply mentioning your timings.
Moreover, on the social media pages and websites, you should mention your working hours and conditions in the most visible portion.
Conclusion on Starting a Part Time Business
I believe that after reading this article till the end, you have gained the knowledge about starting a side business and which sensitive steps you need to follow thoroughly.
You might know that there are many big brands which were started as a part time business, and nowadays they are making a turnover of millions of dollars.
When you start a part time business, you should have a mindset to work without revenue for at least 1 year.
If you do not have this mindset, you should work on it first before starting a side business.
Before starting a side business, don’t forget to conduct deep market research as well about your niche.