U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > General Forums > Economics > Business
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 07-16-2014, 07:52 PM
 
15 posts, read 11,435 times
Reputation: 10

Advertisements

I wonder if anyone has been successful with starting his own business while being employed full-time.

It is something that I would like to do, but honestly there isn't too much time for your side project when you dedicate majority of your productive day to someone else. Also, if you don't do it with 100% effort you probably will fail.

Motivation is another thing. Being employed, you are in a complacent state when you don't miss anything too much. Yeah, you get the paycheck every two weeks, you can make all the payments, etc.

So it may be better to quit and dive in entrepreneurship. Anyone shares my opinion? Or anyone has been successful with starting/running business as an employee?
Rate this post positively Reply With Quote Quick reply to this message

 
Old 07-18-2014, 04:20 PM
 
Location: All Over
4,004 posts, read 5,014,953 times
Reputation: 3104
Im at work now typing on my phone so will write more later when on a pc but I have been running a side business while working fulltime for about two years. This year we are on pace to do 2 million in sales. Im working my butt off but am able to do it. Fortunately my day job has some downtime so I can oftentimes take calls or do my work at my paid job but things are changing with new management which doesnt really allow me to do that anymore so leaving my FT job in August to focus 100% on my business.

I do have an 800 number ai have to answer but fortunately my business is ecommerce so most stuff I can do by waking up early and doing before work or working after I get home from my day gig. Also smartphones make so much possible with Cc acceptance on phones and being able to email on the go or hiding out in the bathroom at my day job.

I should add its my day job that launched my business. Im npt competing with my company but saw a need not being met and my company didnt wanna meet the need so I stepped in and did.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-18-2014, 05:54 PM
 
136 posts, read 436,873 times
Reputation: 51
Great thread. I wanted to ask the same thing. Glad things are going the way you want, doodlemagic!
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-18-2014, 08:56 PM
 
1,811 posts, read 7,221,379 times
Reputation: 1018
I run a small e-commerce business on the side that I started in April of this year. It's not nearly enough to replace my day job, but this month I'm on pace to do about $5k in sales. And it only takes about 2 hours of my time each week to manage. I want to grow it, so it will probably take more of my time in the future.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-19-2014, 11:17 AM
 
795 posts, read 1,100,534 times
Reputation: 550
Quote:
Originally Posted by tondoo View Post
I wonder if anyone has been successful with starting his own business while being employed full-time.

It is something that I would like to do, but honestly there isn't too much time for your side project when you dedicate majority of your productive day to someone else. Also, if you don't do it with 100% effort you probably will fail.

Motivation is another thing. Being employed, you are in a complacent state when you don't miss anything too much. Yeah, you get the paycheck every two weeks, you can make all the payments, etc.

So it may be better to quit and dive in entrepreneurship. Anyone shares my opinion? Or anyone has been successful with starting/running business as an employee?
I've done it my entire life... always had two or three "jobs" going (gov't and part-time or full-time business and another side-business).

What do I cut out? Mostly TV and video games... hanging out doing nothing... and I spend less time with family and friends than I might otherwise like. Everything is a trade...

I went from gov't and part-time business to business full-time. Now I'm back to gov't full-time and my biz part-time.

What you can do depends on the type of business you are trying to start... how much time does it take? I can run mine without touching it all week (online digital sales) or I can test products and spend 30 to 40 hours per week (mandatory monthly invoice and general financial time sucks... but hey nothing is ever 100% rosy). Or I can pickup a local repair job (and charge out the nose) and go into a house. I have one setup later today. I rejected some since I also have other things to do this weekend.

Far as motivation, you should try staying focused on an old business when your current job provides you with all the money you could ever spend (or rather you get to a level you are happy with). Motivation is a huge issue. You have to make things up like "doing x before this date or exceeding this goal". It is much easier to spend time on a part-time business when you are struggling... at least for me this was the case.

But as I've been working on, you can restructure and hire people so you only spend time on the "fun stuff".
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-20-2014, 08:06 AM
 
4,667 posts, read 2,988,785 times
Reputation: 3398
Yes, I've started 4 businesses, well kinda 5 while working other jobs. Not all have been successful.

1. Lawn mowing business, I was 19 working at pizza hut and wanting to increase my income. I bought a $800 used commercial mower and went door to door trying to get customers. I ended up with 1 customer that summer making $25/week, not successful...

2. Photography business/website, started when I was around 20, never meant for this to be a big money maker, mostly to help pay for my photography hobby. I've gotten a few odd jobs over the years mostly with friends and family. Worked 1 sports event. Had 1 photo published in a UCDavis textbook. I've been about as successful as I thought I would be, but I do wish I had sold more stock photography. I still run this website.

3. Lawn Mowing part 2, at 24 years old I decided to get back into mowing. My first year I had 12 customers including 2 commercial. Fairly successful, made a small profit. 2nd year kept it up, but also working 60 hours a week at main job and newly married. I about lost it mentally. By the end of the year I sold the business to an aquiantence and made decent money off it.

4. Chinese restaurant, 26 years old, I had also worked part time at a Chinese restaurant and learned how to cook and manage the restaurant. My wife and I decided this is what we want to do, so we started our own restaurant. 2 months after starting I quit my full time job and now run the restaurant full time. We are in our 7th month but have been moderately successful so far. I don't plan on starting any more businesses for a couple years. We so want to move our restaurant to a better location when our contract is over.

5. Retail website, in collaboration with my wife. She wanted to start a website selling Chinese products. Started 2 years ago and still operating, but never sold 1 item... I wouldn't have done the website personally, but she really wanted to. It was the first website I made, and while really frustrating at times was also fun at times. I learned a lot about building websites and online advertising. Which came in use with my lawn mowing website and restaurant website, both of which brought in customers, so in a round about way it was a good thing.

Future Plans,
1. possibly restart lawn mowing business and do that part time while also running restaurant.

2. Open 2nd restaurant, start a restaurant chain

3. I've been thinking about buying an income property, probably a fourplex in the next couple years.

I'm always watching for other ideas. Me and my wife would love a business where we have to travel between the US and China, but at this point I don't know what that would be.
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics > Business
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2020, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top