You’re embarking on a journey to be your own boss, create your empire, and finally build your vision – without a day job.
There’s just one slight hiccup. On the first of the month, every month, your rent is due. A few days later, you’ve got to pay your utility bill, buy groceries, pay for insurance, and the list of expenses goes on and on.
Adulting while trying to build a business is no joke. And bills don’t just pay themselves!
Yes, you could just up and quit your job and start your business. I’ve been there, done that, and have screenshots of my bank account on empty as a souvenir.
Now, I’m just speaking from my experience. I struggled financially because my business wasn’t at the point where I could pay myself enough to cover my bills.
Because I didn’t have enough of a financial cushion or another stream of income, I quickly went flat broke (which is another story to be told over multiple glasses of wine), and I found myself living back in my parents’ basement with my entrepreneurial tail between my legs.
(A shout-out to my mom and dad for letting their “I’m dropping out of grad school and moving to the West Coast to start a business” prodigal daughter move back home.)
So, how do you stay financially independent while starting a business? Unless you have investors, a healthy cushion of savings, or someone else to pay your bills, the reality is that you may need to keep working for someone else until you can support yourself with your business.
But holding down a job while starting a business on the side isn’t for the faint of heart. Here’s some “real talk” on doing double duty.
1. Your new working hours are 7 p.m. to 2 a.m.
No more kicking back and drinking a glass (or bottle) of wine when you get home. Those precious evening hours are reserved for spending time with loved ones and then quickly getting to the business of making your dreams happen.
2. Leisurely lunches will turn into a valuable time to push your business forward.
Eating lunch at your desk is a thing of the past. So is going to your local salad place and gabbing with coworkers about office politics. That one hour of freedom in the middle of the day is a valuable time to work on your dreams.
Post on social media and send cold emails out to get connected to the people who can help you or work on your product. Do whatever you can do in that spare hour to push your business forward.
3. You may feel a bit out of place at your day job.
Once you’ve realized that climbing the corporate ladder isn’t for you, you’ll start to feel jaded about office life. Those 360 reviews will feel a bit like a sham, and “opportunities” for more work from your boss will feel like a waste of time.
In these moments, you have to shift your mindset and energy around your day job. Start to think of it as an investor providing the financial backing to transform your dreams into a reality. Do just enough to keep your investor continuing to fund your ventures each and every day.
4. You’ll feel super tired at times and need to step away from focusing on your business.
It’s a grind working a 9-to-5 job (let’s face it, it’s really like 7 a.m. to 7 p.m.) plus coming home to work on your business. The fatigue is real!
Plus, trying to keep up with family, bills, health, and social life is extremely tough. First of all, if no one has said this to you yet, here are words of encouragement:
You are a baller for even trying to juggle both, so give yourself a pat on the back. Most people don’t even try; they let their dreams die at the first sight of a steady paycheck.
When you’re feeling tired from the grind, give yourself a much-needed break and self-care. You deserve it! And know that “hustling” 24/7/365 is stupid — it just doesn’t make any sense. So, don’t feel bad for taking care of yourself and resting. You are a human being, not a robot.
Despite the challenges, keeping the income flow of a day job while building your dreams can be worth it, especially in the beginning. The peace of mind that comes with being able to fund your life allows you to focus on building your legacy from a place of abundance.
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