How to Plan and Build a Business Part-Time

At first, most potential entrepreneurs can't afford to quit their jobs to start a business full-time, so they "moonlight" their business on nights and weekends. Here are some tips on how to do it.


Instructions

Prepare

Step 1

Select a hobby you'd like to convert into a profitable business or a passion that you'd like to learn more about.

Step 2

Research, research, research. Read books and talk to people who have worked in the industry you're considering.

Step 3

Get a sense of how much income you can make in the first year or two, and what kind of financial investment you'll need to make.

Step 4

Prepare a plan to determine how much money you will need to make before you can quit your job, and how long it will take you to reach that goal.

Step 5

Be careful not to inappropriately use your employer's time and resources for your own business.

Step 6

Avoid telling your boss before you are ready.

Step 7

Keep your standards of performance up to protect your primary source of income.

Take Care of Family

Step 1

Take an occasional break from your work and devote yourself fully to your spouse and family.

Step 2

Remember to take vacations. You might not need it, but your family will.

Step 3

Budget money to help take care of your kids and housework, if you won't be available.


Tips & Warnings

* Let your spouse share in your dreams of entrepreneurial success--it will make him or her much more supportive.

* Starting a business part-time will create an unexpectedly large amount of hard work.

via ehow