by
We feel it’s far more effective to launch a product, business, or service, while you’re actually still working a traditional job.
In this article, we are going to cover some of the benefits and show why it provides certain advantages over launching a business from scratch and ‘taking the plunge’ into the deep end...
Walk the path less trodden
People tend to think that they have to stop and drop what they’re doing in order to pool their energy into launching a business.
This can obviously get results but this is just not achievable for many as they have other commitments they need to deal with.
By working smart you can get what you need without undue pressure.
We think we have a better way...here are a few reasons why:
Reason one - financial
Launching a business while you’re still in work presents some massive advantages, such as keeping a sturdy income. This means you are not putting yourself under any unnecessary financial stress. You and your family won’t go hungry. You can think clearly without that pressure to find money.
Reason two - ownership and control
You also want to keep ownership of as much of your business as possible. Investors will try and get a big slice of your pie, which is going to reduce your potential earnings, ownership, and management style. If you have an income then this is much less likely you need to go out for funding early doors.
Reason three - Insider advantage
Crucially, if you’re developing a solution that solves a problem you face at your current job, you actually get to be there, learning on the job, identifying, exploring, detailing, understanding and investing yourself into your solution.
Once you’ve identified a solution, you can narrow it down, and you can ask for input from colleagues, peers, and other stakeholders. You can probe for input and refine your ideas.
You can ask peers if they face the same problems, or even find out other things they struggle with and if they link up to your problem. You can ask others what they would do to fix things, or how much they’d pay to have them solved.
You have insider access to expertise and information that standalone startups and outsiders could only wish to have. This is of incalculable value.
Reason four - Building trust with an expert network
Another advantage that will give solid foundations to your business is that you can start to build a network of peers in your organisation, as well as other organisations, who might potentially buy your product or solution in the future. You just have to go to these people and say ‘I’m thinking about doing this’, and as you’re right at the start of your journey, they will want to help. They will want to give some advice and make their own little stamp of helpfulness on your venture. Their long-term awareness of the product or solutions makes them a lot more likely to buy it or support it.
Reason five - Network can become customer base
Another way to see networking beyond the research side is by building a customer base made up of people that you know. You can build relationships, nurture friendships, and support the network all whilst still in your current job. You can provide value and give updates and at the same time you are growing and warming up a network that you can consider part of your tribe. As you’re still in your job, there’s no sales undertone, so people aren’t going to ignore you so much. It’s far more likely that they will engage with you and your idea. Once your situation changes, the paradigm switches, and you’re no longer a buyer, you’re a seller. Whilst you’re a buyer, network with other buyers!
So these are the reasons why it is best to start a business when you are currently in work! What are you waiting for sign up to start your journey!
