Let’s save everyone some time today and just answer this question here.
No, you can’t
Well, if you want to discuss it more, the answer changes to another question. Define what you mean by successful.
If you’re talking about a small profitable side business, then sure. But a startup with an evolving business model and service offering can be a tricky business even with a full team and managing the business full-time.
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Here’s why we think it won’t work.
Startups need commitment
Running a business is not something you can consider your ‘side piece’. At least, when it comes to a fast-growing startup.
Working weekends and evenings is great and shows commitment, but office hours exist for a reason and managing clients and even a team requires an investment of time. Side projects are fine, but if you want to make a real run at a successful business, you need to be committed to it full-time.
Startups are hard work
Work is a huge part of your life, so putting in the hard work is mandatory versus a choice for most people. As a startup owner, it is basically your life, so putting in the hard work is a given.
Being able to take on the risk of running a business, focusing on payroll, cash flow, technology development and so on, a part-time role isn’t really going to cut it.
Can you imagine working late at night trying to balance budgets, fulfill orders and setting up bill payments if your heart isn’t into your work?
Goals are essential
The purpose of a business is very different than the purpose of a side job. A side job is almost a hobby, while a business is your hopes, dreams, and means to a better end.
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If you want your business to last, you can’t just go with the flow. You need to have a strategy for where your business will go and how you will get there.
- What are you trying to accomplish?
- If it’s making a living, what will you do to bring in revenue?
- How will your process work?
You need to set hard goals for your business and push towards each goal like your business depends on it. This is how you succeed in a hyper-competitive world.
Tech Collective Talks is a new segment where we discuss matters that our partners, startup founders, and staff feel is important enough to spend time around it. We discuss it as a group and from it, we craft a story to share with our readers.
If you’ve got something on your mind, drop us a note here and we’ll see if we can include it in the next session.