February 20, 2012
Have a Boss, Be a Boss
Considered saying “sayonara” to your current job in favor of entrepreneurship? You may want to rethink that first part.
Budding business owners know the unpredictable economy provides a substantial risk.
That’s why a growing number of women are opting to stay in a full-time job and run their business at the same time.
How to know if it’s right for you?
“Entrepreneurship doesn’t work for everyone,” says Erin Albert, author of Plan C: The Full-Time Employee and Part-Time Entrepreneur. "If a professional likes that she can shut the job off at the end of the day, that may be a sign that [it’s] not for her.”
But Albert sees women finding success through balancing a business and
corporate America. Crystal Grave started her event-planning company, Snappening, while working full time in marketing for a major law firm in Indianapolis, she says. “She sought permission from her employer to begin her business openly.”
She says Grave was successful because “she had a clear plan around managing her day job and building her business,” and openly discussed workload and balance issues with her manager.
After deciding to take this route, Albert suggests that would-be owners make sure they're contractually allowed to pursue other ventures. “Starting a business without truly considering the ramifications of the day job” isn't the way to go, she warns.
Experts say maintaining a high performance level at your day job and reinvesting profits will help. Plus, Entrepreneur suggests watching for burnout to keep from slipping up.
Bonus PINK Link: Think freelancing might be a better fit? Find out here.
Minute Mentor: Find out how Stylish Consignments’ Tierra Reid went from unemployed to entrepreneur.
By Caroline Cox
“Fear cannot be without some hope nor hope without some fear.” Baruch Spinoza
*Supporting images from FreeDigitalPhotos.net, Sujin Jetkasettakorn, Stuart Miles, and David Castillo Dominici