| If you have made the decision to start a business, one | | | | consequence that you will lose your job. You then |
| of the first decisions you have to make is whether to | | | | have a another decision to make of starting your new |
| start it full time or part time. If you are thinking of going | | | | business full time or find another job. |
| part time, then keep in mind your relationship with your | | | | - We all have only 24 hours in a day and by having |
| boss. If your new business is somehow going to | | | | two jobs, you may be burning the candle at both ends. |
| conflict with your current employer, you have no other | | | | The thrill of starting a new business could cause you |
| option but to quit your job. It would be wrong and | | | | to take on too much, which can lead to personal |
| unethical to your employer and the company if you | | | | anxiety, family stress, emotional and burn out. |
| were to continue working there and at the same time | | | | - If you still have a daytime job, there is a inclination to |
| compete with his/her business. | | | | think about, or work on, your new venture when you |
| The right to do something does not mean that doing it | | | | are at work. Even if your new business does not |
| is right. - William Safire. | | | | conflict with your employer, you need to keep the two |
| However, if it is possible to start your business while | | | | completely separate. Your employer pays you |
| continuing in your regular job, you have several | | | | for~You are paid by your employer during} the |
| advantages: | | | | daytime hours, so you ought to work for him and be |
| - If you still have a daytime job, you maintain a safety | | | | completely committed to the job. |
| net in place by not jeopardizing your medical and | | | | - You might have to rely on your partner and/or |
| retirement benefits, holiday and other fringe benefits. | | | | children to help you out, because things might have to |
| Once your business is running smoothly and making | | | | be done when you are at your employer's business. |
| good money, then you can set up your own safety | | | | You need to decide if you can handle the potential |
| net as you see fit. | | | | conflicts and problems of working your new business |
| - You are financially not dependent on the new | | | | part time. If not, then you have no choice but to start |
| business. Cash flow the biggest issue for a start-up | | | | full time. However, if you do not have enough cash to |
| business and having income from a job will take a lot | | | | survive for at least one year, then you are better off |
| of pressure off you. | | | | waiting and put enough money aside till you have built |
| - You can take your time in setting up and developing | | | | a sufficient reserve to carry you through year one.If |
| your business while you are not forced to make | | | | you already have the financial resources to start the |
| rushed decisions due to financial pressures and the | | | | business full time and are able to survive the first year |
| need to generate an income. However, starting part | | | | without having to draw an income from the business, |
| time has also some drawbacks: | | | | then I suggest you start full time. Going full time you will |
| - Your boss might not like it that you are starting a | | | | be more effective and able to deal with problems that |
| business because he knows that he is going to lose | | | | arise in your business right away. The bottom line is |
| you eventually. Maybe he is worried that you are not | | | | that it is preferred to start full time if you have the |
| fully committed to your job anymore with the possible | | | | financial resources. |