How To Create a Profi table Side Business to Supplement Your Income or Replace your Income Now: What You Need to Know About Starting Side Hustles
By Bill Horetns, Kindle, January 2015
Many dream of the day when they can quit their day job and jump into building their business. Unfortunately, businesses take time to become profi table. Before taking the plunge, aspiring entrepreneurs are encouraged to keep their day job, and start building their business on the side. It is more work and your focus will be divided, but it’s a great test to see if you are truly committed to the business or if it was just a passing interest.
Each person has differing levels of productivity, but you can come up with a realistic estimate of how much time you can set aside weekly to work on your side business. Don’t skimp on things like sleep, exercise or family obligations. But do rethink your personal to-do list. Be creative about the tasks you can delegate or automate to carve out the time you need.
Some things you can likely skip entirely. As you work on your business, think about ways to automate and outsource back offi ce tasks for your company like billing and accounting to devote as much time to your core service or product as possible.
Just because you’re starting a business on the side, doesn’t mean you have to go at it alone. You can recruit some partners, especially in areas where you might feel like you lack expertise. Many dream of the day when they can quit their day job and jump into building their business. Unfortunately, businesses take time to become profitable.