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8 tips for starting your biz while working full time

By Deborah A. Bailey,
Don't conduct work for your own business while you're on the clock for another employer.
  • When starting a business while working, balance your moonlighting with the "daylighting."
  • Be careful using social media for own business-- your employer may be watching
  • Set time boundaries for new clients so you don't put paycheck in jeopardy
  • Have a business plan, set a date, pay down date, don't spend all the "extra" cash



How can you balance being an employee while you're moonlighting?

For one thing, you might not want your boss to know that you have something else on the side. You don't want to appear to be expendable or less dedicated. Keep your business under wraps as much as possible.

That also means you shouldn't conduct your business at work, no matter how tempted you may be to bring your side business to your workplace. And with computer use monitoring becoming more pervasive in the workplace, you probably won't have much privacy if you're using company equipment for personal use.

Moving from employee to entrepreneur


1. Pick a date for when you'd like to make the move into running your business full time. Be realistic when you look at the calendar. The date has to feel comfortable and be something that you think you can do.

2. Check your spending. How much money do you need for your business and for personal expenses? It may be tempting to continue to spend money because it's regularly coming in, but once you're no longer an employee, you won't have that income.


4. Get ready to spend more time alone. If your business is home-based, you won't have the office co-workers around. Start networking now so that you can have a support system before you leave your job.

5. Get a plan together for what you want to accomplish in your business. Whether you use a business plan or a mission statement, have a clear idea of what your business is about and why you're doing it. It's not enough to go into business because you don't want to work for someone else.

Know what you're getting into before you leave your day job.

Keeping your side business on the side

For some people, having a side business is part of a long-term plan, not an interim step. If you aren't looking to leave your regular job, it's less about growing your business than maintaining it.



If you end up working long nights, you won't have the energy to accomplish what's required on your job. You don't want to put your steady paycheck into jeopardy because you're not getting things done.


For instance, if what you do on the job is similar to what you're doing in your business, you don't want to appear to be in competition.

3. Extra money coming in from a side business can be a great supplement to your income. Resist the temptation to spend more because you're making more money. Unless your business income is targeted for a specific purpose, you can end up spending it as fast as it comes in.

Don't put yourself in a position where the money is going out faster than it's coming in -- you may have to work harder at work and in your business to keep up the momentum.

Deborah A. Bailey is the author of "Think Like an Entrepreneur: Transforming Your Career and Taking Charge of Your Life" and a sought-after expert to discuss today's most pressing workplace issues.


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