So you are on of those few people who is an entrepreneur at heart, and you want to pursue an online career by way of a business. You don’t just want to find a new job that you do at home. You want the be the head honcho. Go on. Be proud. You are about to embark on a dream only a lucky few have to nerve to pursue.
You may want to do this while you hold down a job. That’s A-Okay. You can work after hours and on the weekend. You just have to be dedicated and manage your time well.
Whatever your reason is to start a work at home business, go for it – part time. Test the waters the least amount of financial investment. Make an informed decision based on your experience, not what other’s are saying that may stray you away. What’s impressive about starting an online business part time, is that you can start making money rather quickly, considering you put in the work and plan it out appropriately.
Good Side Business Ideas and Models
So what option should you choose? When you stat to research, you’ll ask yourself lots of questions like: What business should I start? What part time business has the best chance of making good money? The truth is, one business may not be necessarily better than the other. It all depends on your skills, motivation, drive and time availability.
You have many options. You can start a service-oriented business like web design, virtual assistant services, or even one-on-one coaching. If you don’t have much time, you can start with ghostwriting or graphic design.
You may even be, so time deprived that all you got is a lil chunk of time here and there. It’s fine. You can make it work if you make a schedule that works for your and your clients. You just have to be careful that you fulfill your commitment on deadlines otherwise; you’ll lose business real fast.
If for example, all you have is one hour per evening to work on your business and let’s say you’re a ghostwriter, then you need to factor in how much content you can put out in that time. That way you can figure out how many pieces of content you can produce daily, weekly and monthly. You need to figure this stuff out, so you don’t overbook yourself and miss deadlines.
The other part of it is the burnout. If you overwork yourself, it will interfere with your business and your personal life. If all you want is a little extra income and not necessarily a full blown business (that you started part time) then you might want to start with something that may not be that big of a struggle for you.
For instance, blogging sounds fancy but it is an awesome business model. It allows you the opportunity to work whenever you want and from wherever you want – considering you don’t have super fans that expect you to be on every waking moment of the day (which, by the way, is not a bad thing). If you decide to start a blog, there are tons of ways you can make money with it. You can put ads, write reviews, sell information products (like courses and books) and even produce videos and podcasts.
One of the good things about starting a blog using WordPress is the opportunity of writing your blog posts in advance and scheduling them to self-publish at another time. That way you can put some effort into writing a set time and not have to worry about writing every day.
I talked a little about coaching earlier. Coaching is an excellent service model, but it may not necessarily fit your schedule because you have to set up appointments with clients and be available at that time to meet with them (virtually or via phone). If time isn’t an issue, or you have uninterrupted time during the day, this may be a good avenue for you.
Another part time business model you may want to look into is a membership website. Now, if you are not technologically inclined, it may be a bit of a learning curve for you but it’s a good way to get consistent income month to month. You do need to make sure that you keep tabs on it and that it’s running efficiently. You just need to spend some time promoting it so that you can get more people to join.
The Tricks of Work-Life Balance For Your Part Time Business
One of the biggest hurdles of starting a business part time is trying to balance your personal life with your business life. Granted, there are some things you may have to sacrifice (like TV and social media surfing) but it can all be worked out if you plan it out from the get-go.
You must first figure out how to cut out the distractions. If you are like me and get easily distracted by the slightest thing, then you need to plan your business around that. You can either wake up a little earlier than everyone else in the house, or go to bed later. If that is not an option (because I do believe sleep is critical) than maybe a trip to a coffee shop for an hour or library may do.
Try to have a talk with your family to help them understand the mission you are attempting to tackle. Sometimes, setting that boundary from the door will ease the transition, and your loved ones will be more understanding and interrupt you less.
If family members you live with continuously interrupt you, it will cut into your time and profits. The old cliché “Time is Money” serves to be true in this case. You may be saying that part of your reason for launching this business in the first place is so that you have more time with your family. If that sings true to you and you feel like taking that extreme does not serve a purpose in your life, then by all means do what you have to do. The key is that you find a way to stay on your game so that you can carry this out successfully.
You are in charge and therefore, you will have to make that determination on how you will carry this out. In business, you get what you put out so if growly slowly is good for you (which that’s okay too) then slow consistency is better than none.
Ideas for side business? 3 quick tips to help you get started:
- Get enough sleep. Although I mentioned earlier that you may want to wake up earlier or go to bed later to avoid interruptions, please don’t cut back on your sleep. Sleep is extremely important for your mental, physical and emotional health. You will find it quite difficult to carry you part time business plan out if your hormones are out of whack, your personal life is out of control and your finances ain’t up to par. Sound sleep contributes to all of the above.
- Learn as you implement. If you are not techie at all, starting a business online requires a bit of a leap. It took me a year to learn the ins and outs of starting and maintaining a website. For you, this may be a natural step. The important thing is that I don’t want you to do like me because you’ll be stuck in the trenches of analysis paralysis. What will happen is that you’ll be focused on just learning, and you become overloaded with information. This in turn scares you half to death, and you continue to put the breaks on your big plan. Like Nike – Just do it! Do it as you learn it that is.
- Start on a small budget. When I started my online business, I invested way too much money. I’m too embarrassed to even discuss it. I have since made my investment back but it took a long time and there were times I though I would never see that money again. The great thing about starting an online business part time is that you can start small, and you can bootstrap while you are still bringing income in. Trust me, it’ll keep your confidence leveled. When you begin to worry about keeping up with bills, you’ll ship will begin go sink – no pun intended but true;).