In Business Since 2001 We accept Paypal
Home Article Directory
More from Bill Platt
"Bill Platt for Book Authors" Youtube Channel
Training for Book Authors
Sites Owned by Bill Platt

 
D9 Hosting


Starting a Business? Should You Choose a Full-Time or Part-Time Startup

Copyright (c) 2010-2019
(See This Article in its Original Format.)

Many potential entrepreneurs have a hard time deciding whether starting a business part-time or full-time makes the most sense for them. On the one hand, dedicating yourself full-time to a startup seems like it would give your idea the best chance of success. On the other hand, starting out part-time allows you to keep your regular job while testing your business idea. The best option for you depends on a number of factors and the weight you give the advantages and disadvantages of starting out full-time or part-time.

Full-Time Startup

The advantages of starting up your business full-time are obvious. Without the responsibilities of another job, you are able to commit your full attention and time to the startup, which is likely to shorten the time until your business is up, running, and making money. Since you are relying on your business taking off to provide you with income, you will be highly motivated to make good decisions and have extra incentive to succeed (especially if failure to launch means you have to go back to working for others!). If you need to seek outside investors, your willingness to risk taking on your idea full-time will give you credibility with them. They will be more likely to take a risk on entrepreneurs who are willing to take on significant risk themselves!

Starting out full-time gives you the time to comprehensively plan all aspects of your business. You are available during regular work hours on either coast to talk with suppliers, advertisers, trade associations and anyone else with information you need to make the best plan. You are able to spend more time networking and researching the industry so that you fully understand the opportunities and threats you can expect to encounter. The extra time and dedicated focus also make it easier to change direction if you realize the barriers to starting your particular idea are too great or if you identify better startup opportunities along the way.

The disadvantages of starting out full-time mostly involve the increased risk. Without a separate income, it can be difficult to get your business off the ground, especially given that startups tend to take twice as long and cost twice as much as you originally expect! You need to have enough cash on hand to cover your personal existence during the planning phase and are more likely to need outside financing (even if just a few thousand dollars) to launch your idea. If it takes longer than expected to start making sales (which it almost always does), desperation can lead to bad decisions and knee-jerk reactions that produce less profitable outcomes. In an ideal world, you could start your business full-time with enough working capital to sustain you for twice as long as you think it will take to get your idea in motion. That way, you have the breathing room to make the best decisions for the long-term success of your business idea.

Part-Time Startup

Starting your business part-time can be frustrating as it takes longer to get off the ground, but the advantages can outweigh the irritation. Most entrepreneurs that work on a business part-time do so because they are still working a full-time job for someone else. That steady income can relieve a lot of pressure, allowing you to take your time to find the best answers to every startup issue and possibly self-fund the entire startup. Working on your idea part-time reduces your risk all around. If you discover during your planning that you need to modify your idea or completely change direction in order for your business to succeed, it is easier to do so without significant loss. If you need more time to save up or raise the capital needed to finance your idea, you still have your regular paycheck to fall back on. Once your business is up and running, you can build your customer base until the business is profitable enough to replace your regular job before you commit to the business full-time.

The downside of starting your business on a part-time basis is that it can be more difficult and take much longer to get your idea off the ground. Your attention is pulled in different directions, especially if you have personal obligations to attend to outside of your regular work hours. It can be difficult to adjust to working a job and a half because often it seems like all of your time is spent working. The remedy, of course, is to manage your time well and schedule enough hours per week to work on your idea. But when you know you have the paycheck coming in whether you work on your business or not, it can be easy to become distracted or slack off. Be sure not to work on your business idea during your regular job hours -- you won't want your employees taking your time to work on other things, so show the same respect for your current boss.

Another difficulty that entrepreneurs often experience in starting a business part-time is balancing the responsibilities once the venture is up and running. For any business, there are growing pains -- periods during which you have to shuffle priorities and decide whether to hire some help in order to meet the demands of your growing business. If you are already working full-time, these periods can be even more stressful because the time you have to dedicate to the business is limited. Many entrepreneurs find themselves pulling the occasional all-nighter, outsourcing some tasks, or hiring an employee sooner than planned.

Get Started!

Some entrepreneurs are unable to dedicate the hours to work on their business idea even part-time, instead starting up on a spare time basis. This can work out, as long as you are able to commit time consistently, at least a few hours per week to developing your business. Periodic startups -- where the entrepreneurs does a little work on an idea, ignores it for a few months, then puts in a few more hours, etc. -- are less successful. The marketplace changes so rapidly that any more than a few weeks out of the loop can make what you know obsolete. Spare time startups can be very successful, however. Remember that just 3 hours per week of work for one year adds up to nearly a month of full-time hours!

Starting your own business is a huge endeavor that takes quite a bit of time and energy. Deciding whether to jump in full-time or not can be a difficult choice in some cases, but for others the right decision is obvious. Whatever you choose to do, be sure to develop and use a time-management system that works for you and ensure that the time you spend working on your idea is productive. If you are serious about asserting your independence, you will find the time to make your idea into reality!


About The Author: Shop Amazon - Top Gift Ideas
K. MacKillop, a serial entrepreneur with a J.D. from Duke University, is founder of LaunchX and authors a blog focused on starting a business. The LaunchX System's comprehensive, step-by-step approach to starting a business will help you develop the knowledge and skills you need to make your business startup a success. Visit http://www.LaunchX.com/ and take our Business Readiness Assessment and learn what to do next for your business startup.

VOTE ON THIS ARTICLE
Needs Work >> 0 - 1 - 2 - 3 - 4 - 5 << Excellent Article

Tell our authors what you think about their article.



Top-Level Category: Business Online Articles

10 Most Recent Articles Written by K. MacKillop

The Art of Working A Room -- Networking Skills for Small Business
Written by: K. MacKillop | Distributed: 2010-02-04 | Word Count: 1115 | Page Views: 2067 | Votes: 3 | Rating: 2.00
Mastering the art of effective networking marks the difference between merely successful entrepreneurs and captains of industry - the better you are at networking, the more power you wield. There are a few simple rules to follow to be successful working the room, and anyone with a little willingness can learn to be a master of networking.

Women and Social Entrepreneurship -- A Growing Trend
Written by: K. MacKillop | Distributed: 2010-02-02 | Word Count: 533 | Page Views: 2464 | Votes: 4 | Rating: 2.25
Many women are finding that the power and privilege that comes with successful entrepreneurship make it easier to make a difference, both financially and by promoting new ideas. Combining a for-profit business with social activism provides the best of both worlds. Women who are thinking about launching a nonprofit should consider the alternative -- Social Entrepreneurship.

Top Ten Startup Mistakes That Almost Always Lead to Business Failure
Written by: K. MacKillop | Distributed: 2010-01-28 | Word Count: 1188 | Page Views: 2970 | Votes: 4 | Rating: 2.50
Over two-thirds of new businesses fail within the first few years. Protect your business startup against these ten common startup mistakes and get on the road to a successful company.

Business Startups with Bad Credit
Written by: K. MacKillop | Distributed: 2010-01-26 | Word Count: 734 | Page Views: 2440 | Votes: 3 | Rating: 2.33
Bad personal credit is a common stumbling block for entrepreneurs. Working for your self is the best opportunity for building wealth. While bad personal credit can make the startup process slightly more challenging, it is not a total barrier to business ownership and business success.

Hiring Well When Starting a Business Can Be Critical to Success
Written by: K. MacKillop | Distributed: 2010-01-21 | Word Count: 912 | Page Views: 1736 | Votes: 3 | Rating: 1.67
Finding the right employees for your startup is critical. They will not only be representing your business, but they will also be representing YOU. Do your homework before you start hiring, and then hire the best people you can find.

Take Advantage of Federal Contracts for Your Business Startup
Written by: K. MacKillop | Distributed: 2010-01-14 | Word Count: 653 | Page Views: 2658 | Votes: 4 | Rating: 1.75
Getting on board with federal, state or local government contracts can be a boon to your venture's bottom line. Spend a little time and effort and open up a new target market -- the government.

Cash or Accrual Basis of Accounting? Which Should You Select When Starting a Business?
Written by: K. MacKillop | Distributed: 2010-01-13 | Word Count: 830 | Page Views: 8540 | Votes: 12 | Rating: 1.42
One startup decision that seems to cause entrepreneurs heartburn is whether to set up their accounting system on a cash basis or on an accrual basis. Although this sounds like secret accounting code, the implications are straightforward, and, for most businesses, the right method is easy to see.

Starting Your Business Smaller Can Make Your Success Bigger
Written by: K. MacKillop | Distributed: 2009-12-03 | Word Count: 782 | Page Views: 1785 | Votes: 2 | Rating: 2.50
Does your business idea seem too big to take on? Will it require more startup capital than you can obtain? Don't give up on owning your own company -- there are ways to modify almost any business idea into something that can be started part-time and with less capital than the original plan. The most successful entrepreneurs tend to be very flexible and creative in getting where they want to go. Whatever you decide to do, get started on your planning as soon as possible!

Every Business Startup is a Series of Unexpected Events - Will You Be Ready?
Written by: K. MacKillop | Distributed: 2009-12-01 | Word Count: 847 | Page Views: 2316 | Votes: 2 | Rating: 2.00
No matter how seasoned an entrepreneur, every business startup has its share of surprises. Certain personality traits are advantageous in dealing with rapid changes, and developing these traits will help ensure the success of your business when faced with change.

All of Author's Articles on this site:

Most Recent "Business Online" Articles

Four Tips For Creating An Effective Authors' Resource Box
Written by: Bill Platt | Distributed: 2013-08-27 | Word Count: 1669 | Page Views: 5315 | Votes: 9 | Rating: 2.11
In article marketing, there are many factors that will affect your articles' ability to promote your website in the most effective manner. In this article, we will briefly discuss a couple those factors, before we dive into how to create an effective Authors' Resource Box, also known as the About The Author Information.

Website Traffic Generation: Winning the Love of the Traffic Fairy
Written by: Bill Platt | Distributed: 2013-08-24 | Word Count: 1149 | Page Views: 6017 | Votes: 7 | Rating: 1.57
Some people still believe that all they have to do is build a website and customers will magically appear on their site... Once they have built their websites, they wait anxiously for the "Traffic Fairy" to come and sprinkle its magic dust on their website too, so that they can make lots of money like other success website owners.

What Kind Of Backlinks Are Best At Helping Your Website In Google?
Written by: Bill Platt | Distributed: 2013-08-21 | Word Count: 439 | Page Views: 7244 | Votes: 10 | Rating: 3.20
I was in the Warrior Forum, and someone asked what kinds of Backlinks are worth pursuing. This is my answer to that query.

Understanding the Mechanics of Effective Article Marketing and Article Syndication
Written by: Bill Platt | Distributed: 2013-08-01 | Word Count: 1399 | Page Views: 3959 | Votes: 4 | Rating: 1.00
Visit several marketing blogs or marketing forums, and you will find dozens of people proclaiming the death of article marketing as an effective marketing tool. Before we start agreeing with them, consider this...

Top 10 Reasons Why Online Marketers Fail With Article Marketing
Written by: Bill Platt | Distributed: 2013-07-31 | Word Count: 1025 | Page Views: 5037 | Votes: 7 | Rating: 2.29
If you've been marketing products online for any length of time, you've likely heard people talk about the power and promise of article marketing for the promotion of your online business. Unfortunately, many online marketers have tried to utilize article marketing to benefit their online business and failed. In this article, I document the top ten reasons why people fail to find success with article marketing... And how to fix your article marketing campaigns...

Article Marketing Tip: Stop Trying To Sell From Within Your Articles
Written by: Bill Platt | Distributed: 2013-07-30 | Word Count: 1229 | Page Views: 3353 | Votes: 4 | Rating: 0.50
The basic premise of article marketing is to present people information that will be important to them, then at the end of the article, present information "about the author" and offer to the reader a means to see how the author can help the reader further. When done well, article marketing continues to be one of the most effective methods of promotion that one could employ online.

The Six Degrees of Internet Marketing
Written by: Bill Platt | Distributed: 2013-07-30 | Word Count: 991 | Page Views: 5759 | Votes: 8 | Rating: 2.25
The theory behind the Six Degrees of Separation is that all people on earth can be connected together in as little as six steps. Now, I know what you might be thinking at this juncture... That sounds fun and interesting, but what does that have to do with Internet Marketing? That is a great question that I am going to answer for you in this article...

How To Win More Eyeballs for Your Offers and Websites
Written by: Bruce Lansing | Distributed: 2013-07-29 | Word Count: 1373 | Page Views: 3416 | Votes: 4 | Rating: 0.25
Most people using search engines on the Internet are looking for answers to questions and solutions to problems. If you can give people what the answers they want, you will be able to position your business as one worth hiring today or tomorrow.

How To Increase Your Rates and Earnings As a Freelance Writer
Written by: Bill Platt | Distributed: 2013-07-29 | Word Count: 1191 | Page Views: 3446 | Votes: 4 | Rating: 0.25
Freelance writers fill a very important role in today's business marketplace. They create the on-demand, customized content that business owners everywhere need to push their businesses forward. In this article, the author explains what freelance writers should do to ensure that employers will pay them well for their services.

Promoting Your Business With Content:: Defining Your Writing Strategy
Written by: Bruce Lansing | Distributed: 2013-07-25 | Word Count: 677 | Page Views: 3178 | Votes: 4 | Rating: 1.50
Many people suggest that you should write articles on the basis of the benefits that people will get from reading your articles. I'd like to suggest that there is a better reason, and that is to write your articles on the basis of what problem people will be able to solve, as a result of reading your articles.

Most Viewed "Business Online" Articles

Attracting Readers to your Book
Written by: Alastair Hall | Distributed: 2006-05-18 | Word Count: 708 | Page Views: 45526 | Votes: 10 | Rating: 1.90
One of the common and obvious ways to market a self-published book is having your own website. The harder part is how to attract your target audience and then convert the sale.

How To Make Visitors Bookmark Your Site
Written by: Cheryl Miller | Distributed: 2006-10-10 | Word Count: 536 | Page Views: 37876 | Votes: 14 | Rating: 2.21
When visitors bookmark your site it is a sign that you have built a great website and are pleasing them. Visitors think highly enough of your site to want to return and possibly tell others about it. You are not only increasing traffic from your existing clientele you are encouraging new traffic by means of viral marketing.

Treat Online 'Guests' With Respect
Written by: Rick Sloboda | Distributed: 2007-07-27 | Word Count: 472 | Page Views: 29340 | Votes: 26 | Rating: 3.62
Does your website show your customers lack of respect? Review the following checklist to find out.

How I Got 70,000 Useless Visitors To My Site In One Day! (One Internet Marketer's Analysis of Social Bookmark Traffic)
Written by: Titus Hoskins | Distributed: 2007-11-06 | Word Count: 1545 | Page Views: 26927 | Votes: 9 | Rating: 1.89
Is social bookmark traffic useless? Is it even worth cultivating for your site? Can it be used from an online marketing perspective? Read to discover one Internet Marketer's analysis of social bookmark/media traffic...

Successful Article Marketers Help Readers Solve Problems
Written by: Bill Platt | Distributed: 2013-07-24 | Word Count: 816 | Page Views: 23546 | Votes: 27 | Rating: 2.93
Every week, I have the opportunity to speak with people about the benefits and challenges of using article marketing to promote an online business. Article marketing is about getting your sales message in front of potential customers and to get links to your website. Many interpret this to mean that an article should directly promote a website within the article, but that approach is wrong and will reduce one's success using this methodology.

Tips For Building Your First Website
Written by: Benny Tsabba | Distributed: 2007-05-30 | Word Count: 1511 | Page Views: 18607 | Votes: 11 | Rating: 2.09
New people are coming online everyday. And many of those people desire to turn their spare time into spare cash. So begins their journey.

The Importance Of Effective Follow-up
Written by: Kate Smalley | Distributed: 2007-01-15 | Word Count: 493 | Page Views: 13295 | Votes: 21 | Rating: 2.62
Marketing experts say that following up with clients is crucial to successful selling because most prospects do not buy the first time, according to Aweber, a leading autoresponder company. People must encounter a marketing message multiple times before making a purchasing decision.

Today's Google Bots and What They Do
Written by: Kim Roach | Distributed: 2006-08-02 | Word Count: 1061 | Page Views: 13021 | Votes: 9 | Rating: 2.89
Google currently indexes over 8 billion web pages. However, before these pages were placed in the index, they were each crawled by a special spider known as the GoogleBot. Unfortunately, many web masters do not know about the internal workings of this virtual robot. This article will attempt to reveal some of the most important Google spiders, their function, and how they affect you as a web master. We'll start with the well-known GoogleBot.

Successful Forum JVs and How To Get Them
Written by: Diana Barnum | Distributed: 2006-06-15 | Word Count: 648 | Page Views: 10281 | Votes: 12 | Rating: 2.00
The forming of common alliances, also referred to as a joint venture (JV), happens nearly every day in the business world. One of the most popular means of linking people up online of so that they can work together on their projects is via forums, where people of all levels of business and expertise post in common threads.

Ten Tips For User Friendly Online Registration Forms
Written by: Jim Romanik | Distributed: 2009-02-24 | Word Count: 775 | Page Views: 10046 | Votes: 14 | Rating: 0.93
Have you ever registered or attempted to register for an event and spent half an hour trying to figure out what you needed to do? Or have you used an online registration form that lost your data or was so complicated that it seemed like more work than faxing the form?

Highest Ranked "Business Online" Articles

Is Your Business 'Out Of Site'? Employ The Ultimate Marketing Tool
Written by: Rick Sloboda | Distributed: 2007-01-09 | Word Count: 445 | Page Views: 4475 | Votes: 20 | Rating: 3.95
With the rapid expansion of the digital economy, the web site is conceivably the most powerful marketing and sales tool you can employ. Find out what a web site can do for you.

How To Use Your Race To Get Rich
Written by: Herbert Harris | Distributed: 2009-07-07 | Word Count: 1407 | Page Views: 4873 | Votes: 41 | Rating: 3.95
Amid recent news reports that there continues to be an ongoing and substantial gap between the net worth of Whites and other racial groups, it is easy to be distracted and overwhelmed by the raw data. However, I am immediately reminded of a quote offered by an economic expert from the past... "There are lies, damned lies, and statistics!"

How to Keep Your Article Content Fresh and Interesting
Written by: Craig Ritsema | Distributed: 2006-08-29 | Word Count: 699 | Page Views: 4385 | Votes: 18 | Rating: 3.94
Webmasters everywhere are constantly on the lookout for fresh and interesting content for their website. Along with these content qualities is the requirement that it be unique. Everyone wants their website to stand out above the others in the search engine results. So what is the trick for you to keep a steady supply of this quality content coming your way?

Why I'm A 'B-Level Marketer!'
Written by: Willie Crawford | Distributed: 2007-07-16 | Word Count: 917 | Page Views: 5184 | Votes: 25 | Rating: 3.68
At a recent Internet marketing seminar, I was sitting around the hotel lobby with approximately 20 other seminar attendees and speakers. The seminar's host was in attendance, and the conversation covered a range of internet marketing topics with extreme frankness. Our proximity to the hotel bar certainly contributed to our 'conviviality.'

The Most Important Ingredient for Info Product Success (is You)
Written by: Judy Murdoch | Distributed: 2008-04-15 | Word Count: 981 | Page Views: 4629 | Votes: 14 | Rating: 3.64
Last week I was attending a conference and mentioned to someone I help small business owners create information products. The other person was very friendly until I said "information products." Then the temperature in the room dropped about 10-degrees

Treat Online 'Guests' With Respect
Written by: Rick Sloboda | Distributed: 2007-07-27 | Word Count: 472 | Page Views: 29340 | Votes: 26 | Rating: 3.62
Does your website show your customers lack of respect? Review the following checklist to find out.

Increasing Productivity In Your Online Business
Written by: Willie Crawford | Distributed: 2006-06-14 | Word Count: 1407 | Page Views: 5916 | Votes: 33 | Rating: 3.61
Running an online "empire" of approximately 1600 websites and blogs, selling a variety of products, services and ideas, I have to be much more productive than the average person in a "regular job."

15 fixes for a failing website
Written by: Rick Sloboda | Distributed: 2007-02-07 | Word Count: 593 | Page Views: 2481 | Votes: 24 | Rating: 3.58
Employ these 15 tactics to improve your search engine rankings, engage visitors and convert more sales.

Is Your Web Content Self-Centered?
Written by: Rick Sloboda | Distributed: 2007-07-30 | Word Count: 354 | Page Views: 2915 | Votes: 26 | Rating: 3.54
Too many businesses turn people off with self-absorbed websites. The following guidelines will help you avoid this common pitfall.

3 Amazing but little known Secrets to make your Website Blast to the top of Search Engines!
Written by: Jim Corkern | Distributed: 2006-10-25 | Word Count: 646 | Page Views: 2755 | Votes: 15 | Rating: 3.53
I know you hear all of the squabble about links being the number 1 factor in getting your website top search engine positions. I have had many clients come to me and say, I have hundreds more links than the top 10 sites for the keywords I am targeting, and all of my links are from related sites, Why is my site not in the top 10?











Download an eBook today
 
Directory Navigation
Locate By Category:

ALL Categories
Arts & Crafts
Arts & Entertainment
Automotive
Business - Offline
Business - Online
Career
Computers
Education
Family
Finance
Food & Drink
Health & Wellness
Home & Garden
Humor
Internet
Nature & Pets
Real Estate
Religion
Self Improvement
Shopping
Society
Sports & Recreation
Technology
Travel & Leisure
Uncategorized
World Events
Writing & Speaking

Change Number of Results:
50 - 100 - 200 - 500
Article Reprint Rights
Creative Commons License

This work is
licensed under a
Creative Commons
License


You are not required to show the creative commons license notice when you reprint this work.
Article Statistics
Word Count: 1150

Total Views: 1833

Article Rating: 1.00 of 5
Votes Cast: 2

More Articles By Author:



Last Distribution Date:
2010-01-19 12:30:00

Internal ID: #7284





All Articles are Copyright © 2001-2019 of the Defined Authors.

All other material and images on this site are:
Copyright © 2001-2019, ThePhantomWriters.com