Updated: Apr 24, 2019
Most of us have to learn how to balance our daily lives, while trying to figure out how to come up with the capital to get the inventory or supplies we need to grow our business full-time. This article is about the small steps you can take while trying to balance employment and entrepreneurship
You don’t have to spend thousands of dollars to get started. Start small. If you have only have $50 to spare on inventory or supplies, buy as much as you can with that $50. This way, you can start to build without killing your pockets.
MAKE A BUDGET
This may seem obvious, but this is not something we always think about. In order to stay above water in our daily lives, we have to create budgets to keep an eye on our savings and our spending habits. Creating a budget for your business helps to keep surprises at bay. It may also help you prioritize other expenses as well.
You’re keeping an eye on your spending, saving for your purchases, and preparing yourself for future expansion. Budgeting will have nothing but a positive impact on your business.
CREATE A SCHEDULE
Unfortunately, daily life for most is based on schedules and timelines. There's a time for you or the kids to go to school, to work, etc. Life is a tough enough balance by itself and if you don't attack your schedule head on, you can become overwhelmed and quit your business endeavor all together.
Even if you can only spare a couple of hours a day on your business, add this to your schedule and prioritize. It may even be a good idea to create an action log - an account of all your activities for a week (including those times you spend playing candy crush).
Once you've logged your daily activities, take a note of how much time is used on "useless" activities. You'd be surprised how much time you'll save, when you realize how much time you're spending.
Starting up can be an extremely slow process, as well as a disappointing one. Do Not Give Up! If this is something that you are really serious about, if this is your dream, if you want to be your own employer, don’t give up.
Big returns come from taking big risks, and to truly be successful it will take dedication and some long nights. Understand that you will not make profits right away – you’ll lose money initially. Once the profits start coming in, remember to focus on your budget and investment schedule.
TAKE MENTAL BREAKS
It may be difficult, but you will also need to learn how to take a break for a mental recharge from time to time. If you have a job that offers PTO (Paid time off) - you may need to take a day every few months.
I stated PTO here, because the ultimate goal is to work for yourself. In my humble opinion, if I need extra time for my thoughts, I'd rather take a break from my employment than my own business.
INCLUDE THE FAMILY
Don't be afraid to let your family know about your business endeavor. There will always be those that are pessimistic as though they don't trust your capabilities, but don't let this deter you from including those that are the most important to you and those that genuinely want to see you thrive.
Your family can be a great support system, and can offer encouragement when you're feeling defeated.
Balancing work and business ownership is not easy and you'll need to be honest with yourself about the time and effort needed to be successful. Create a schedule and a budget for yourself in order to grow and stay organized. Include your close family in your creative process for emotional and mental support. Take time to breath and stay encouraged. Disregard the naysayers and keep moving towards your goals.