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Knowing the essential reasons "why you need a job before you start a business" is crucial for success. It's so exciting to start your own business when you have a great idea and the passion to go with it. The problem is that as well as being exciting, it's a hard thing to do. There are so many things to think about and put in place and so many decisions to be made that it can become too much. That great idea can turn to nothing as the business fails or the business owner decides to do something else.
This is sure to happen at some point for some people; not everyone is cut out to be a business owner, and it's best to learn that sooner rather than later. However, if you know this is what you want to do, what measures can you put in place to ensure – as far as possible, at least – that your business doesn't fail? How can you be a good entrepreneur?
The answer (or at least one of the answers) is to get a job first. Although this will mean you have to put your business ideas on hold, there are actually some great benefits to having a job before you start a business. Read on to find out what some of them are.
One of the biggest reasons to get a job before you start your own business is experience. Whether you are working directly in the industry you'll be starting your business in (and if that's the case, be careful as you don't want to be accused of stealing ideas or even clients) or doing something entirely different, there will be aspects of what you are doing that you can use in your business.
This might be gaining a deeper understanding of how to find clients, marketing, invoicing, pricing, or a specific skill for your industry, for example. When you are working, you not only gain these skills that you can use in your own business but you'll be paid for it as well. So if you feel you need to learn more before you start your business, it's wise to find your next job and dedicate yourself to gaining as much knowledge as you can until you are ready to launch for yourself.
Every business owner needs to be good at networking. When you're able to network, you'll connect with many different people who can help you grow your business. You might need potential employees, clients, investors, and mentors, for example.
It can be hard to network when you don't know anyone, to begin with, and aren't sure where to start, but if you have a job before you launch your business, you will have gained a network already. Assuming you leave the job on good terms (which you should always try to do) and you're not working in a way that resembles your old business too closely, you can speak to the people you made connections with and ask for their assistance in any way they might be able to offer it. Your network will soon grow, but having this starting point could make all the difference.
Starting your own business is exciting, but it's also quite scary, even if you have everything prepared and you feel ready to take this step. When you no longer have a regular income from your job, and you have to do everything yourself, it can feel extremely daunting and cause you a lot of stress due to the pressure.
One way to handle this is to get a job. It might sound strange to say that you need a job in order to start your own business, but when you are working, you'll have a guaranteed income and you'll have benefits like sick days and holidays. If you keep all of that and start your business as a 'side hustle', you can build your business up slowly and ensure that, even if things don't grow like you wanted or there are setbacks, you'll be financially secure.
This is a lot of hard work – you'll potentially be working the equivalent of two full-time jobs – but it will also give you the time and space you need to ensure your business is profitable and right and with a dedicated customer base before you quit your day job. Plus, you'll be making extra money for a while which you can use to boost your marketing or hire an assistant which you wouldn't have been able to do otherwise.
Research is an intrinsic part of starting a business, and it could take quite a bit of time and effort to get done. If you quit your job to do this research, you'll be doing it all without making any money to live on. That could tighten your belt way too much, so it's worth avoiding. While working at the same time makes the process longer, it gives you enough to survive on when doing your research.
To speed up the process, make sure you're following advice from the right people, such as Wegman Partners. You'll end up with practical advice you can rely on when you start a business. It should make the rest of the process more straightforward and less confusing, as well as let you know exactly what you need to do going forward.
