Starting your own business can seem daunting, but there are many resources available to help you along the way. Having a full-time job might make the process longer, but it will also give you the financial support and stability you need to be successful in the long run.
Network like crazy
Use the fact that you still have a job as fuel to network like crazy. Having a job is great, because you interact regularly with other employees, customers, vendors, even competitors. Network inside the company as well as outside. Try to meet people who can be potential customers, potential contractors, potential advisors and mentors, and potential investors. These connections are all potentially valuable. You know how it goes with networking: you’ll meet someone who knows someone who is looking right now for a solution to the one your start-up will solve.
You don’t need investors
It’s not that you don’t want investors ever, it’s that you don’t want investors yet. That’s why you are saving by yourself and building your empire. Even if you could get investors interested, your lack of traction would put a very low value on your company at this point. So low that you would need to give up a very large piece to the investors.
Put weekends and night to use
This is the perfect quote for the time when you are pulling double duty in your day job and building your start-up. The reality is that this might be the time to put some things on the back burner. Work until the business has a small profit to run itself.
Test your product or service
If you have a product, you need to validate it. Validation can be an in-depth process, and is very dependent on your market. It boils down to, will anyone buy your product and why?
Test your idea like crazy
Just because you have a great idea does not mean the market is going to agree. Now it’s time to put those assumptions to the test.
Start generating revenue
If you have done your homework and spoken with enough customers, you will find customers willing to pay you for your MVP or a variant of it. Paying customers changes everything. You might be able to use your early customers as testimonials. They might even refer you to other prospects.
Author: Staff Writer