Want to start an online business but don’t have a lot of time? Well, it’s possible to do so in your spare time, even with a busy schedule and a full time 9 to 5 job. Many people think that they have to work on a new business night and day with no breaks, but that just isn’t the case at all.
It’s possible to start a business just working a couple hours a day, or however much time you can dedicate to it while still capturing some valuable sleep each night. The last thing you want to do is have it negatively impact your life or career.
So, here are some helpful tips for those that are interested in starting an online business in their spare time.
1. Be Committed Early Mornings and Late Nights
This is the most important thing to remember. It doesn’t matter what type of online business you are thinking of starting. Any business, regardless of the type, is going to take work and commitment.
You have to be willing to wake up early and dedicate time to your business, as well as stay up late to do the same. “When you have a 9 to 5 career your time is limited. So, do you want to sleep in and go to bed early, or work on building a business,” says Chris Dziak of Pure Nootropics. Be fully committed or you will fail.
2. Learn to Delegate and Outsource
A lot of tasks can be outsourced. As your business grows and it becomes more clear that you have a good opportunity, then you can start to scale by outsourcing work. This can be anything from website content to social media management or a bpo call center.
No matter what you need done, there is a good chance that you can find a remote worker or a virtual assistant to handle the job. This is early stage team building, and it plays a big role in your success.
3. Automate as Much as Possible
This is also a key to starting and growing a business online. Let’s assume you started an online business selling a particular product. Now, since you won’t have time to fulfill and ship the orders during the day, you can hire a third party to handle that for you.
The same applies to things like customer service. While your margins and profits will be smaller in the beginning because of the extra costs, it will enable the business to run and grow without you working in it full time.
Remember, you will want to make sure that the business has certain potential before you step away from your 9 to 5 to pursue it full time.
4. Find Multiple Monetization Opportunities
The more ways you can identify for your business to make money, the faster you can scale its growth. “The faster you can scale its growth, the faster you can turn it into your full focus,” suggests Henk Schipper of Jaloezieen Fabriek.
So, whether it’s partnerships with other companies, co-branded marketing campaigns or expanding to offer additional products and services, always look for opportunities for more monetization and revenue.