How to Prepare for Entrepreneurship While Still Employed
- Akino Davis
- Dec 29, 2024
- 5 min read
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Welcome back to The Entrepreneur Spark Newsletter! Last week, we explored how to identify viable business opportunities. It was a deep dive into ensuring your business idea meets real needs and aligns with market demand.
This week, as we close out the year, we’re tackling another critical challenge: preparing for entrepreneurship while managing the demands of full-time employment. If you’re wondering how to balance your job while setting the stage for your dream business, this article is for you.
What if you’re stuck juggling your day job and your entrepreneurial aspirations? Many aspiring entrepreneurs face this fear: Am I doing enough to set my business up for success, or am I just spinning my wheels? This uncertainty can lead to frustration and self-doubt.
The Problem: Lack of Clarity on Balancing Job and Business Preparation
Transitioning from employee to entrepreneur is a balancing act. You want to give your business idea the attention it deserves while maintaining your performance at work. But without a clear strategy, you may feel like you’re burning the candle at both ends, risking burnout, and not making real progress on your entrepreneurial goals.
When I was building SME Digital, I faced this exact challenge. Working full-time while trying to create a business felt overwhelming. Some nights, I wondered if I was moving forward at all. The fear of letting down my employer or failing at my business idea loomed large.
Sound familiar?
Why Common Approaches Don’t Work
Many professionals attempt to tackle this challenge using methods that sound good in theory but fail in practice:
Overworking: Some think they must work around the clock—finishing their 9-to-5 and then jumping straight into business tasks. This often leads to exhaustion and poor performance in both areas.
Quitting too soon: Others believe they need to quit their job immediately to focus on their business. Without a financial safety net, this can create stress and derail their plans.
Waiting for the “perfect time”: Many professionals keep postponing their entrepreneurial dreams, waiting for an ideal moment that never comes.
These approaches fail because they don’t address the need for balance, structure, and strategic planning.
My Proven Approach to Preparing for Entrepreneurship While Employed
Here’s how I tackled this challenge—and how you can, too:
1. Define Clear Goals
Start by setting realistic and measurable goals for your business preparation. Ask yourself:
What do I need to achieve in the next 3, 6, or 12 months?
How many hours can I realistically dedicate to my business each week?
For me, this meant dedicating two hours every evening to building SME Digital. My initial focus was on developing my services and networking with potential clients.
2. Create a Schedule
Time management is your best friend. Block out specific times in your calendar for business tasks, just as you would for work meetings. Make these non-negotiable.
When I started SME Digital, I dedicated lunchtime to researching and planning. This consistent effort helped me stay focused and avoid feeling overwhelmed.
3. Leverage Your Current Job
Your current job is more than a paycheck—it’s an opportunity to learn. Identify skills or knowledge from your job that can support your business goals. For example:
Use your job to build connections that might help your future business.
Learn systems or tools that could be valuable in your entrepreneurial journey.
In my case, my role in business operations provided firsthand insights into managing teams and workflows. Skills I later applied to SME Digital.
4. Start Small
You don’t need to build your business overnight. Start with manageable tasks that move you forward.
For example:
Validate your business idea by talking to potential customers.
Build a simple online presence, like a website or social media page.
Test your product or service with a small group.
When I launched SME Digital, I offered free discovery calls and coaching sessions to test my business model and gather feedback. This allowed me to refine my approach without heavy investments.
5. Set Financial Foundations
Financial preparation is critical. Build a savings buffer to cover personal and business expenses during your transition. Calculate how much you’ll need and create a plan to reach that goal.
For me, having six months of savings gave me the confidence to eventually leave my full-time job the first time around and focus on SME Digital.
Why This Approach Works
This approach works because it’s strategic, realistic, and sustainable. Instead of overwhelming yourself, you create a clear path that balances your current responsibilities with your entrepreneurial aspirations. You’re building a foundation that sets your business up for long-term success.
My Personal Experience Preparing for Entrepreneurship
Balancing my day job and business preparation was challenging but rewarding. By setting clear goals, managing my time, and starting small, I was able to build SME Digital while maintaining my professional responsibilities. One of the most valuable lessons I learned was the power of consistency. Even small, regular efforts can lead to significant progress over time.
Conclusion
Preparing for entrepreneurship while still employed doesn’t have to feel impossible. With clear goals, time management, and strategic planning, you can make steady progress toward your dream business without burning out.
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