{"id":2772,"date":"2016-12-07T14:39:48","date_gmt":"2016-12-07T19:39:48","guid":{"rendered":"https:\/\/futurpreneur.ca\/?p=2772"},"modified":"2024-02-13T11:51:24","modified_gmt":"2024-02-13T16:51:24","slug":"launching-while-working-three-pitfalls-to-avoid-as-you-grow-your-business","status":"publish","type":"post","link":"https:\/\/futurpreneur.ca\/en\/blog\/launching-while-working-three-pitfalls-to-avoid-as-you-grow-your-business\/","title":{"rendered":"Launching While Working? Three Pitfalls to Avoid as you Grow your Business"},"content":{"rendered":"

Written By: Chivon John, Founder & CEO of Secrets of a Side Hustler<\/em><\/p>\n

There was a time when starting a business and keeping your day job was seen as taboo but nowadays you\u2019d be hard pressed to find a person who isn\u2019t a proud \u2018employedpreneur\u2019.<\/p>\n

Although starting a business as a side hustle can give your start-up an edge, here are three pitfalls to avoid if your plan is to grow your business from hobby to profitable venture.<\/p>\n

Pitfall #1: Getting side tracked by \u2018side hustle shame\u2019
\n<\/strong><\/h3>\n

As sexy as the \u2018fire your boss\u2019 or \u2018escape from cubicle nation\u2019 narratives sound, quitting your day job to immediately start a business is not realistic for every aspiring entrepreneur. In reality, many well-known businesses such as Mailchimp<\/a>, Freshbooks<\/a> and Convert Kit originated as \u2018side projects\u2019 and research is revealing that doing so can give your business a leg up on the competition.<\/p>\n

A study entitled \u2018Should I Quit my Day Job?\u201d in the Academy of Management Journal<\/a> revealed that businesses that are launched while the founder is employed and later become their full-time gig, are one third less likely to fail than those begun as full-time enterprises. So if you\u2019re feeling self-conscious about your \u2018employedpreneur\u2019 status take comfort in knowing that hanging on to your job and taking intentional steps may help your business have a greater chance of success in the long run.<\/p>\n

Pitfall #2: Slacking at your full-time job
\n<\/strong><\/h3>\n

Answer honestly – Are you giving the same effort to your full-time role since starting your business? If the answer is no, you may be missing out on a great opportunity to learn to become a better entrepreneur.<\/p>\n

Why? Because your full-time role is the ultimate training ground for how great and not so great businesses are run. Not to mention, as a full-time entrepreneur you don\u2019t have the luxury of checking out when you no longer feel interested or inspired to do something, so why should you show up this way at your job?<\/p>\n

As a full-time Executive Assistant and Founder of three profitable businesses, Pauleanna Reid regularly shares with her clients the importance of not letting your ambition for entrepreneurship cloud your judgement and performance at your full-time role. \u201cWhen you get into the office, give your best effort. Not just some days, but every damn day.\u201d<\/p>\n

As a side hustler, think of your job as your \u2018angel investor\u2019 in your business growth that may eventually lead to future leads and opportunities for your career. When you\u2019re on the job, commit to being fully present and identify the ways how your current role can actually contribute to your business growth or entrepreneurial knowledge.<\/p>\n

Pitfall #3: Over-scheduling your time and under-scheduling self-care<\/strong><\/h3>\n

Don\u2019t let the excitement of having a business cloud your judgment of how much you can actually get done in a day. When you work full-time you have to factor in:<\/p>\n

    \n
  • The 7.5+ hour investment at your full-time job<\/li>\n
  • The time to commute if you don\u2019t work from home<\/li>\n
  • 2-3+ hours to actually work on your business<\/li>\n
  • Personal and family commitments<\/li>\n
  • Sleeping<\/li>\n<\/ul>\n

    Typically sleep is the first thing to go when we\u2019re in hustle mode but self-care should be your sidekick when you\u2019re living the side hustle life.<\/p>\n

    Stacking your to do list without giving any thought to how much effort it will take to complete the work will contribute to you becoming a stressed out entrepreneur instead of a successful one so pay attention to where you invest your energy and time.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Written By: Chivon John, Founder & CEO of Secrets of a Side Hustler There was a time when starting a business and keeping your day job was seen as taboo but nowadays you\u2019d be hard pressed to find a person who isn\u2019t a proud \u2018employedpreneur\u2019. Although starting a business as a side hustle can give […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10],"tags":[],"class_list":["post-2772","post","type-post","status-publish","format-standard","hentry","category-futurpreneurs-and-partners"],"acf":[],"_links":{"self":[{"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/posts\/2772","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/comments?post=2772"}],"version-history":[{"count":0,"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/posts\/2772\/revisions"}],"wp:attachment":[{"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/media?parent=2772"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/categories?post=2772"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/tags?post=2772"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}