Boss Lady

7 tips to build a business on the side

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How many times have you sat at your desk thinking about a side business you’d like to start? More times than you can count?

And how many of those times have thought it would be too difficult with your current job and workload? An equal number of times perhaps?

Well, think again.

There are a lot of ways you can keep your current job and workload, while starting a side business. It just takes dedication, a bit of planning and the right mindset.

Reframe your thinking         

To build a side business, you have to get into the right frame of mind and go forward with a clear direction of what you want to do and accomplish.

This involves not seeing the things around you as barriers that hold you back from something, but instead, as something to help drive your desire for success. Start examining everything in a positive light … and this is a habit that grows!

Make a plan and try to stick to it

New business ventures are never easy and you can’t just ‘go with the flow’. A lot of hard work goes into it.

You have to have a clear plan for what you’re going to do and how you’re going to achieve it, no matter how long it takes.

Treat your side project like you would any other startup

How serious are you about your side business? Is it a hobby or do you actually want to make a profit from it?

These questions are what you have to think about when building a side business. And if you do want to make a profit from it, treat it like the real business it is and go for it with everything you have until you accomplish it.

Don’t burn your bridges

When building a side business, it’s important you don’t burn any bridges along the way. Doing this can anger your colleagues and boss, cuts them off as contacts and prevents you from seeking their advice on something in the future. Make sure you keep a sharp eye on potential future connections and roles they might be useful for.

Set realistic goals

Having a plan and sticking to it is good but setting realistic goals is crucial.To help with this, be ambitious but make sure you have a look at the market you want to enter to ensure there is room for you and your business in it.

The last thing that needs to happen is become part of overcrowding in the market– or for your business to fail when given unrealistic goals.

Actively seek objective feedback

Having a great idea and people to support it is great. But objective feedback is even better.

To achieve this, ask everyone you trust to give constructive, objective feedback on your business and what you can do better. This will be even more important before you officially launch your business so you can work out all the kinks beforehand.

Consider your co-workers

There usually comes a time when you have to outsource a portion of your business to someone who can do something you’re not an expert in, with a great source for this being co-workers.

And while this doesn’t have to turn into a side business for them, you should at least approach for their help and even ask them to improve yours skills in something.

About Rowena Nagy

Rowena Nagy is a Journalist at The Business Woman Media. A graduate in Journalism, Media and Communications, she is passionate about in writing, travel journalism, video journalism and Public Relations.

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