While it is a common way for Artisans to start their businesses, it is by no means easy, which is why we have outlined 3 key tips for balancing your day job and new business as an Artisan.
There are many reasons why entrepreneurs looking to start a business do not give up their day job right away – using the income to invest in your business or simply relying on it until your business begins to generate a profit.
- Make sure you are not breaching your contract
Before you begin balancing your work-business lifestyle, the most important thing for you to do is to check you are in the clear with regards to starting your own business while at your place of work. It is essential to avoid conflict with your employer so go over your contract and make sure there is nothing prohibiting you from starting up your business while still employed.
Once you have established whether you are legally allowed to start your own business, you need to ensure that this new project will not interfere with your ability to fulfil your role at work.
- Adopt a schedule
Working on your own business is tough enough as it is – throw in a full-time job and suddenly you feel as though you are facing the impossible. A strict schedule will be your saviour. Breaking up your time into manageable sections and setting aside certain hours of the day to working on your business will make the work-business balance a lot easier.
Knowing you have allotted times to working on your business will help you focus when at your job instead of trying to do everything at once – which would hinder both your day job and Artisan business.
- Create an emergency fund
Use the security of keeping your place of employment to your advantage and start putting money aside. One of the major benefits of the work-business lifestyle is a steady income, which enables you to pay off any outstanding debts you may have and/or start saving money for an emergency fund.
Running a business is always unpredictable, so having money set aside for slower months will prevent you from having to make sacrifices further down the line.
The Artisan Industry is certainly a difficult one to master – turning your hobby into a career comes with plenty of ups and downs. Knowing the key mistakes to avoid and the top tips to follow is essential for any business.