When you’re about to become self employed one of the more important decisions you’ll have to make is whether you want to do it full time or part time. It can be a hard nut to crack as both ways have their advantages. Here are some things to consider before making the decision.
Benefits of full time self employment:
You’ll be able to work with what you love and it brings you enough money for your needs.
You can devote yourself to build your skills.
You’ll be available for your business and your clients more often.
Benefits of part time self employment:
-You can have another job at the same time, securing the financial situation.
-You can test the waters to see if you really want to go into this business.
If you want to start of full time, you want to give yourself the answers to some questions.
Are you passionate enough about this work to do it full time? Is your skill level good enough or do you need more education? How much do you need to make, is it possible to make as much from the start? If you take it on full time, will it rock the balance of your life style?
In many ways it’s easier to keep your regular full time job and do this work on a part time basis until you’re more sure of yourself and your ability make your business profitable. This is a kind of eat the cookie and still keep it scenario, therefore it requires a lot of time and commitment.
If you do start of part time, there is likely to come a time when it’s to much work to continue with your regular job at the side, and you’ll make the decision to go full time. Until then, part time may be the ultimate solution.
If you choose to keep your regular job at the side doing your business, it might be wise to keep a low profile about your own business.Some companies may think you’re saving all your energy and creativity for your own business. If they know about your business, it may minimize your chances of being promoted or put on special projects.