Starting your own business has always been on your long term to-do list, but you’ve never had enough time, money or stability to begin your entrepreneurial journey. Does it sound familiar? Don’t be frustrated with yourself – this scenario is very common. The time to start a business will never be perfect. There is always something that will be missing or stopping you. It could be the responsibility that you have to your family to provide a stable income, the comfort of your 9 to 5 job or the fear of wasting your time with a project that may not succeed.
The reasons that hold you back can be many. Not everyone is comfortable with risk-taking. Some people like to play it safe and begin their entrepreneurial journey with dedicating enough time to their side hustle. There is nothing wrong to start your business on a side, yet it can be very challenging to raise capital if you are not all in. Every entrepreneurial venture has its potential, mission and opportunity to make a difference even if it begins as a side hustle. This is why here we will highlight three of the main pros of starting a business while you are still keeping your daily job.
Many people have interesting ideas that actually have potential but rarely act on them because they are not ready to risk everything that they have 0 stable income, benefits, security. The fear of failure holds back startup enthusiasts. It is more damaging than the actual failure, which comes with lessons learned. By having a side hustle many people feel more comfortable with their entrepreneurial journey, which gives them the freedom to experiment, to look for new opportunities and enjoy the excitement of taking calculated risks. Having a side hustle is a great source of experience – it teaches valuable lessons, learned on the field.
First-time entrepreneurs devote a lot of time on building their networks. Establishing solid relationships with fellow entrepreneurs, mentors and especially investors is very important, but it takes time and effort. Having strong support system may help you accelerate your business faster than you think. By attending networking and pitching events you are able to accelerate the process of forming stable network of like-mined people. Having a side hustle gives you the opportunity to discuss your business with other entrepreneurs, without to feel like the wannabe startup owner. Your side hustle is a great way to build solid network and embrace many new opportunities.
Being confident is extremely important for entrepreneurs. It is difficult to stay confident in your ability to run a business if you are constantly facing setbacks and different challenges. Confidence comes with the years of experience, after the entrepreneur has managed to successfully overcome many difficult situations and has achieved business growth. Your side hustle can help you become more confident in your talents, abilities, knowledge and expertise. It is a great source of inspiration, especially when you are slowly but surely marching towards building a successful startup company.