Should You Keep Your Job While Starting a Business?

One of the most commonly asked questions about starting a work-from-home business is whether or not you should keep your regular job. Though it is not for everyone, most people recommend keeping a regular job while starting a business, allowing you to continue to bring money in while growing your business.

Here are some reasons why you may want to keep your job as you begin your journey as a business owner.

There are a lot of costs that are involved in starting a business. You need supplies, an office at home (which needs to be set up), and a computer. Then, there are things that most people don’t think about.

Every business needs a website and, though you can get one for free, it is better to pay for your domain. Your website needs to be professional, and it is often worth it to hire someone to design it for you!

Your business also needs a logo, which you will need to hire someone to design for you. You also need to print out professional business cards and flyers for advertising. Advertising is necessary to get clients and grow your business. Even if you start with free options, you might end up spending money to find even more clients.

It is also helpful to have money coming in from a job while you start a business because you can fund it yourself. You won’t have to worry about using up all of your savings, in case you have a bad month (or several). You also won’t have to go through the process of applying for a loan, which can be stressful and hard for a new business. You won’t have to worry about making enough money to pay your bills each month.

Running a business can be challenging, and many people like to outsource the tasks that they don’t enjoy doing. If you are strapped for money, you won’t have the luxury of getting the help that you need.

If you keep your job, you also won’t have to worry as much if you don’t have steady work. Once your business grows, and you can see it supporting you and your family, you may decide that you are ready to leave your job.

However, this decision is purely personal. There are plenty of people who quit their job (or cut back their hours) when they decide to start a business. Some people don’t have a job to fall back on during this time. Instead, many stay-at-home moms (and dads) decide to start a business to supplement their spouse’s income.

Then, there are the risk-takers.

They don’t feel like they will be able to start a business in their spare time. They may work forty hours (or more) and are too tired at the end of the day to focus on doing anything else. They may not want to give up their weekends and their valuable free time. Instead,

They think that a business deserves full-time attention. They are driven and ready to go. This all-or-nothing attitude will help them grow a successful business fast.

You have to figure out what you want for your business. Everyone is different and there are many paths that you can take. You just have to figure out what works for you and your family. You may want to keep working to help support your family while your business takes off. However, you could be the one who has to put everything into the business! Only you can decide what is right for you.

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This is an excerpt from my e-book, Your Questions Answered: Top Questions About Working From Home, which is available on Amazon and wherever you buy your e-books.

Previously published on Medium and/or Newsbreak.