Monday, February 12, 2007

Part-Time Entrepreneur? - Can this work?

Let me ask you a question first. Are you satisfied with your current position? Do you cite several reasons to others and yourself for not realizing your goals? Do you think that success stories only look good in print and they are the exceptions who got lucky or who had backgrounds helping them to succeed?

It would seem very rude of me but I also know that somewhere down in your heart, you know that what I am going to say is true. All these are excuses that are made by people who lack the courage to realize their dreams. These are excuses that people lacking courage to try something new, make for themselves. Talk of job security is a thing of the past. And realizing dreams is no longer an option. It is a necessity in this age!

After all, Michael Dell of Dell Computers fame started his company from his hostel with a capital of $1000 and went on to create a net worth of $20 billion before he reached the age of 40. And if you think it is just a U.S. story, well think about India. Yes, Kiran Mazumdar Shaw who is the richest woman in India started her company Biocon in her garage with little less than $4000. As of now, the total market cap of Biocon is $1.2 billion.

Let’s come to the topic now. We are talking about entrepreneurship. And if the term overwhelms you, let us modify it to part time entrepreneurship. You have a job, you need to pay bills and you have other liabilities. Well, no problem? You carry on with your day job and turn an entrepreneur at night. The income that you get from your part time business would help pay bills and other expenses.

What is more, you would also have the satisfaction of being your own boss and working to realize your dreams. There are many examples besides the examples I mentioned above, that clearly shows that when your business is in growing phase, you could always work on it as a part time entrepreneur. And with time you can turn that part time business into a full time business. The best thing is the number of avenues open to you. Yes, many!

Right from MLM (Multi-Level Marketing) to Internet Marketing to Freelancing to Home Business, have your pick. It is the best for house wives who are house wives full time. They could easily have their part time business running from their homes itself. After all full time house wives also have some spare time that they could utilize well.

Recently I have been involved in Internet Marketing. Internet Marketing or Netpreneurs have the privilege of doing their stuff anytime anywhere and great for people who travel a lot. This is especially true with Mr Ewen Chia, one of internet marketing most recognized figure. I recently attended his workshop called Affiliate Windfall Workshop (see picture)

He told everyone that he start Internet Marketing 8 years ago and didn’t make money till after 3 years. During the first few years of building up his part-time Internet Business, he was holding a day job! He told me, ‘Don’t quit your day job. If you do, you have more stress and you wouldn’t be creative if you are always stressed. It is good to have that day job to pay you bills while you do your night-job to build your dream and your future.” After all, doing part-time post graduate degree courses these days are quite common in Singapore. Doesn't it require that same amount of dedication like you are doing your own part-time business?

There are many examples of young men that I met who are successful with what they are doing part-time before they went full-time. Read my next post Alvin Phang – The Profitable Blogger.

2 comments:

DBeavers said...

Great article.

My business wouldn't be where it is today, if I hadn't worked on it and at it for 3 years part-time before taking the full-time plunge.

My income from my "day" job, provided for normal expenses, and allowed me to re-invest some of my new income back into my home-based business.

I even changed day jobs once during the 3 years of learning and establishing my own business. The new job gave me exposure to different people, which led to to a couple different clients.

I encourage others interested in my business to start part-time, while working their day job, unless they are already eligible for retirement. Even then, they can remain working one week at a time, while learning the new business. Far less stressful than jumping into a new venture, with little or no safety net.

Dennis Bevers
BASSCO, Inc.

Admin said...

A well put together blog with a lot of passion behind it. Hope you didn't stop here...

Starting a new business is not easy and sometimes it's better to start part-time as you know. Best thing is to incorporate first and protect yourself from litigation. Give yourself - your company some credibility.

Excellent blog - and this info is still relevant 2 yrs later - I hope you continue here or are doing it somewhere - you have the gift for it obviously. :) Vern