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

Written by: Lee Lister

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.

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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



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