Most people don’t just start their own business, usually, they begin working full-time jobs until they are able to develop a functional idea they can monetize or simply earn a sufficient amount to start the business on their own. It is risky and it is exciting, but some people cannot seem to take the leap of faith and leave their current jobs in order to chase after their dream jobs or start a business on their own. Most people who decide on starting their own business do it from the comfort of working on their full-time job to feel they have a secure income coming by every month.
Although for some it is scary to leave their full-time jobs, you can start creating your own business while still working office hours. Here are the pros and cons of starting your own business while working a full-time job.
Pros
- Security
Often people who want to start a new business are scared of leaving their current jobs for fear of failure. If their startup business wouldn’t work, they wouldn’t earn money and they would have to go back to searching for a job. For some people, keeping their current job is a way of feeling secure.
- Money Coming In
Even if you have some savings that you are willing to invest into your business, you always want the financial security to back you up, and for that reason, remaining in your fulltime job might be great for keeping yourself a steady income.
- Testing out the waters
The great part of working on your side business and maintaining a full-time job is that you will have the possibility of seeing if your business will take off or if it will fail. You won’t have to suffer from losing your current job and your business, you can see if it takes off then you can decide on quitting with more security than ever.
Cons
- Full time and Availability
When you have a full-time job you have office hours, vacation days, a couple sick days and merely some days off for yourself. If you are planning to develop a new business this might be tricky as you will have to do so only in your reduced free time.
- Being your own boss
There is nothing better about running your own business than being your own boss. When having a full-time job on the side this isn’t possible, you have office hours and to report back to someone all the time. This is a consequence you will have to deal with from not quitting your current job and devoting yourself to your start-up.
- A hobby, not a business
If you keep a fulltime job, you will only think of your startup as a hobby and you won’t give it the attention or the motivation that it deserves to grow and become a success. Your full-time job will be nothing but a distraction from your start-up business.