Small Business Information Center. Com

Starting a Small Business: Full-time or Part-time?

Starting a small business: The full-time or part-time question 

Once you have your small business idea, and have began to develop your business plan, you'll quickly get to the question of whether starting a small business should be a full-time or part-time venture. Many experts suggest that starting a small business on a part-time basis may be the best option at the very beginning. 

Starting a small business on a part-time basis may offer several advantages.  It reduces your risk, as you can rely on the income and benefits of your full-time employment.  Starting a business on a part-time basis also allows your business to grow naturally rather then "forcing it along". Philip Holland, author of How to Start a Business Without Quitting Your Job believes that starting a small business on a part-time basis simply is the best answer and contends that, "Starting part-time is simply the best way. You find out what running a business requires, while limiting your liability if it fails." 

Starting a small business on a part-time basis also comes with its own dangers and disadvantages. Working part-time leaves you with less time to market your business, strategizing and building clientele. Since you may be unavailable for a large part of the day, clients may feel that you are not as responsive and available as they would like you to be.

Part-time entrepreneurs sometimes find that prospective customers, suppliers or investors do not take them seriously.  Also, the stress of working part-time in addition to full-time employment, may lead to a high level of "burnout".  This leaves you little time for leisure, personal or family life.  Arnold Sanow, author of You Can Start Your Own Business stated "Working by day and running a business by night, creates a host of potential conflicts and can add a tremendous amount of stress." According to Sanow, conflicts between a day job and a sideline business are very common as are family problems: "I've seen a lot of divorces as a result of working full-time and having a business on the side". 

Starting a small business on a part-time basis can work however in spite of some of these potential problems. If you have excellent time management skills, strong self-discipline and support from family and friends, starting a small business on a part-time basis may be the perfect option. Also, Sanow has pointed out the importance of commitment and perseverance to the ultimate success when starting a small business on a part-time basis.  Sandow has concluded that "Don't think that, since you have a job, you don't really have to work on your business.  You must have a plan of attack". 

In summary, you should seriously consider the option of starting a small business on a part-time basis to reduce the risks and urgency to move the business along prematurely.  However, starting a small business on a part-time basis does have its drawbacks including increased personal and family-related stress, decreased leisure time, and a limited amount of time to grow your business. 

Information from Start Your Own Business- The Only Start-Up Book You'll Ever Need  

By Paul Susic MA Licensed Psychologist Ph.D. Candidate President/CEO Susic Psychological Consulting P.C.

Recommended Reading from Amazon.com