Tweet

Entrepreneurs – You’ve Decided To Build Your Business In Your Spare Time – What’s Your Plan?

Guest post by:

Article Overview: You’ve got a great business idea, and are keen to get started on your new business, BUT you’ve also got a family, mortgage and other commitments. How do you get your new business running but still pay the bills and see the family and friends?

Entrepreneurs – You’ve Decided To Build Your Business In Your Spare Time – What’s Your Plan?

You’ve got a great business idea, and are keen to get started on your new business, BUT you’ve also got a family, mortgage and other commitments. How do you get your new business running but still pay the bills and see the family and friends?

Well you build up your business in your spare time. In some ways this is better, because you are doing all the hard work of building a great business foundation whilst still paying your bills. The downside is that it cuts into your family and leisure time. So here’s a suggestion of how to do it:

1) Decide how much time a week or month you want to spend on your new business and block specific times out on your calendar. Get your families agreement to let you devote this time to your biz and keep to it. Self discipline and splitting your business/family time is an important skill to learn.

2) Decide the kind of business you want and what kind of things/services you want to sell.

3) Do thorough research on your potential market and who might want to buy your products/services. Join some forums and start talking about your products and see what kind of reaction you get.

4) Decide your branding and how you want your business to be perceived by your customers and peers.

5) Decide your product range and your pricing strategy.

6) Start some initial marketing and start to get your company name recognized.

7) Start selling some of your products/services and see how they are received. Gradually build up sales.

8) Write your business plan and start looking for financing for what is a well planned and researched business that is starting to make sales.

As you can see you have done an enormous amount of work whilst still paying the bills and you have a great foundation for your new business.

Related Articles
  New Years Resolution for 2009: Start Earning Money at Home
  When are you going to start enjoying your spare time?
  Small Business Loans UK
  Characteristics of Successful Internet Entrepreneurs
  For Good SEO You Must Go Back To Basics

Article Tags: business family, business foundation, business idea, business plan, commitments, downside, family and friends, family mortgage, family time, great foundation, initial marketing, leisure time, new business, peers, potential market, pricing strategy, self discipline, spare time, suggestion



Related Forum Posts
Business Innovation - Hi Simon If you can finish off the Business Plan and think about your strategic direction or how you are going to use your product to convince people it's a great idea, it will set the foundation for your programming project. You see, when you are looking for funding you will need a Business Plan and Strategic Plan that will convince companies to invest into your new idea. Has anyone achieved this idea before using another industry besides health and fitness that you know of? You should also design some mockups as a "preview" for your programming project. This will also help reduce your programming costs as everyone will know exactly what you want if you have detailed mockups already completed including any functionality you require. Starting mockups for websites and software applications on paper is the best way if you're not a guru in graphic editing software.
My entry - 1. The Best Business Books Ever: The 100 Most Influential Business Books You'll Never Have Time to Read - this is a fascinating book about the history of Business theory, and I'd recommend it to anybody. 2. The Big Book of Small Business: You Don't Have to Run Your Business by the Seat of Your Pants, by Tom Gegax. Ditto. 3. PADI: The Business of Diving Book Okay, so this book won't be of use to anyone who doesn't want to start a scuba store, but I did, and this book was of course invaluable to me in reaching that goal.
No B.S. Time Management - A great book I read on Time Management is No B.S. Time Management for Entrepreneurs by Dan Kennedy.
New Small Business Topic - Hello everyone, I'm on the lookout for new topics to add to my site. We just launched a Franchising section and are planning Human Resources section. Do you have any thoughts for a new section? Here's a list of what we currently have: Angel Investors Branding Bank Loans Business Coaching Business Plan Franchises (New) Insurance Legal Marketing Public Relations Sales Small Biz Loans Venture Capital
Supporters vs detractors - [quote:3rnq5c3o]“My mother kept telling me nobody wanted a plain English Major…I felt dreadfully inadequate.[/quote:3rnq5c3o] Just goes to show the influence parents have on their kids. Build them up, don't tear them down! Time enough to do that when their older and can deal with criticism...


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Tweet

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

Mistakes Made by New or Inexperienced Sales Staff

How to Handle the “I Am Not Interested” Objection

The Golden Rule of Communications

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.