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Building Your Business While Still Working

Many individuals have a desire to start a business but at the same time don’t want to give up the security of their present employment. It may be that they are looking at a second business to generate more income.   Then again it may be an individual that is getting close to retirement and is in the baby boomer category and wants something to fall back on financially once they retire from their place of employment. The best way to go about this is to start building the business while the individual is still working.   This way they maintain the security of their consistent paycheque while they are building their new business.

Most often many individuals want to build a business online which really allows them the flexibility when it comes to the hours that are needed to build the business. As with any business it begins with the business plan.

You want to be absolutely sure that this is something that you want to take on. Even building a business online takes a great deal of commitment. So be absolutely sure that you have sound reasons for wanting to do this.

Once you have made the decision and it is a definite one then you want to commit to it. Make sure that you are in it for the long haul and approach the building of the business in a constructive manner.

You want to build a vision for your business. You want to set the goals and its expectations and just how far you want to allow it to grow. Many individuals start a part-time or a hobby business and it becomes super successful and grows much more quickly than they anticipated. You need to know if you are going to be prepared for this and if this is something that you are ready to deal with.

As with any business you will want to do your research first to determine the viability of it. Make sure that you discuss this with your family and anyone else that it is potentially going to affect. Try to seek out mentors that can tell you about the ups and downs about the type of business that you are thinking of going into.

Make sure that you educate yourself. Setting up an online business is really exciting and while it is flexible when it comes to hours there is a great deal of learning that it entails.

Also keep in mind that you still have the responsibility of your regular employment and as a result of your building a new business you cannot allow this to suffer.

To get you started on the building a business you may want to sign up for our exciting new book called Start Your Own Online Business The Basics. This will give you some really good insight as to what the building a business online is going to take.

 

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Sam Seidman, CPA, CA, LPA
629 Sheppard Avenue West
Toronto, Ontario
M3H 2S3

Telephone: (416) 398-1700
Fax: (416) 398-6226

Chartered Professional Accountant, Chartered Accountant, Licensed Public Accountant

Email: sam@torontoaccountant.ca

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