Working 5 to 9 has become a popular term for people who run their small businesses out of hours or after they have finished their day job.
It assumes the business is part-time and is a good way to test the credentials of a business idea you may have had. As you don’t have a full day to dedicate to running your business, it makes sense to run it from home to give you the vital extra time you need. If your home isn’t adequate for running your business idea, consider time-sharing a property to help bootstrap your business.
Extra income. A part time business is an ideal way to supplement your annual income from your day job. Working 5 to 9 allows you to keep your current income (which you and your family may rely on) and also acts as a fall back for your job. No ones job is 100% secure, especially in the current climate and if you do lose your day job you could look to run your business in a full time capacity.
Experience. Working 5 to 9 will help you gain valuable business experience that you may not gain from working for someone in your current role. Learning the pitfalls and problems business owners face on a part time basis will help you avoid them should things really take off for you. It may also give you an enjoyable taste of what it’s like to own and run a business and help make your decision to start your own small business.
Working Online. Having an strong online presence will allow you to check up on things whenever you have a spare moment and ‘keep the shop open’ while you are not there to run it. Keeping your data online will mean that it is secure and protected while you are not there to look after it. An online office also helps reduce your overheads as you won’t get the chance to utilize any expensive equipment that would only be used for a small part of the day.
Realistic Goals. Set achievable goals for your business. You really won’t have time to achieve what full time business owners can do and you probably won’t earn as much either. You will have to be more savvy when it comes to outsourcing work to keep your customers happy and produce reasonable turn-around times.
Work-life Balance. We may have mentioned this in our home business article but it is especially important when working 5 to 9. Know when to shut the door and walk away. Don’t over stretch yourself as your day job could suffer as a consequence leaving you (and maybe your family) facing tough decisions you could have avoided.
Working 5 to 9 won’t make you a millionaire (immediately!) and will limit how fast you can get things done. However, it will give you an excellent first-hand insight to how effective you and your business can be.
Tags:
