Can I Continue to Work and Have a Home-Based Business?
The answer to this question is yes. You are legally able to be both self-employed, and employed by a company. However, you do need to consider numerous things before embarking on such a venture. Especially if you have a family to provide for.
Hours involved –You may find yourself completely exhausted. You need to weight up the type of home-based business that you wish to establish. And the hours that you can commit to it. If you are dealing with customers or clients from another time zone, it may be awkward to fulfil your contract if you are in the office during that time.
It is usual for people who have their own home based-business to find themselves with less private time. To be with their family and friends, or just to relax at the end of the day. Due to the additional commitments, you may find that you lose your weekends. Not to mention having less holiday time. Things will become hectic for you, and you need to be prepared for that eventuality.
Juggling two jobs –As an employee, you do have certain obligations to the company that you work for. Though you clearly also want to make tour home-based business a success too. This is when you need to assess how you can balance the two in an organized manner so that you have the time for them both.
Stress levels – When setting up a home-based business, I can be a stressful time in your life. All the factors that you need to consider before you can even begin trading. Keeping things organized so that no errors are made.
Yet you still have a paid position as well. And you are clearly tied to them through an employment contract. But to keep your reputation in tack, you don’t want to disappoint them. Falling short of the commitments and responsibilities that you have.
Check the rules of the company that you work –Depending on the type of home-based business that you are looking to set up can impact on the reaction from your employer. You may find yourself in direct competition with them. Something that they clearly will not tolerate. This can cause to conflicts, the possibility that you may be fired, and even court cases.
Don’t rush into anything – You may think that you have the best idea in the world for your home-based business, but try to stem your enthusiasm. It may well be that there are already other businesses offering a similar product. So you will need to do some extensive research into your ideas.
You want to stand out from the crowd of your competitors. So think through everything clearly before reaching a final decision. It is easy to get caught up in the excitement of it all. But this could result in failure and the loss of valuable funds.
If you decide to set up a home-based business while still remaining in your current job, you will need the support of your family and friends. Although you will still receive a regular paycheck, it does take a lot of commitment to establish a home-based business.