In this quick video, I’ll share with you how you can absolutely start your own business, even whilst working a full-time job, and why that is actually a good idea!
The reason for that is due to a concept I call the cash cow. It’s what I use with my own clients in many situations, when they’re not able to go all-in from day one.
Cash Cow = Using your current professional skill to take a full-time job, or a part-time job, that will allow you to have money coming in, whilst you start your business on the side.
Here are 2 reasons why I recommend you use this approach:
- You’re likely a corporate professionals in your 30s and your 40, in a big expensive city like London, New York, or San Francisco.You’ve got bills to pay, and you’re probably wondering how starting a business is going to happen if you don’t have money coming in. That’s why the cash cow is very handy.
- You’re also likely to be risk adverse if you’re anything like the lawyers and accountants I come across.When you see entrepreneurial videos telling you to “go all-in” from day one and risk it all, you probably feel more fearful than motivated, so I want to let you know there is another way that’s a lot more reality checked, and that actually works for people in your situation.
Here’s the deal when it comes to starting a business:
Starting a business is not a matter of all or nothing;
It’s a matter of starting to do SOMETHING.
Building a business takes time, so there’s no reason why you shouldn’t start doing it on the side whilst you make money in your current career.
Two good reasons for doing this:
1.It allows you to actually test drive whether you like it.
Look at what is the version or the part of the business that you can start now whilst working a full-time or a part-time job to allow yourself to test drive it. There’s always a part of the business you can start now.
2. It helps you reframe how you view your current profession.
Rather than being something you want to get away from, just for now, use it to finance getting your business off the ground.
Do this and before you know it, you’re going to be ready to go all-in from a much better place!
On Own Business