Even if you ultimately plan to run your business full-time, starting on a part-time basis can offer several advantages. It reduces your risk because you can rely on income and benefits from your full-time job. It also allows your business to grow more gradually.Yet, the part-time path also comes with potential pitfalls. It can leave you with less time to market, strategize and build a clientele. Clients may feel you're not offering adequate customer service. You also run the risk of burning out. Holding down a full-time job while running a part-time business can leave you with little, if any, leisure time and your personal life may suffer as a result.
That is not to say a part-time business can't work. You'll need to have excellent time-management skills, strong self-discipline, and support from family and friends, according to Arnold Sanow, co-author of You Can Start Your Own Business. Also crucial, he says, is your commitment. "Don't think that, since you already have a job, you don't really have to work hard at your business," he says. "You must have a plan of attack."
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