Paul Haarman: The pros and cons of starting a business while still employed

There are pros and cons to starting a business while still employed. On the one hand, you have the stability of a job and a steady income says Paul Haarman. On the other hand, you may be limited in the amount of time and energy you can devote to your new business.

Here are some things to consider before making a decision.

Pros:

1. You have a steady income and can avoid financial risk:

Starting a business is risky, and there’s no guarantee that you will be successful. If you have a job, you can avoid some of this risk by continuing to draw a salary.

2. You have the stability of a job:

If your business fails, you still have a job to fall back on.

3. You may be able to use your employer’s resources:

Many employers offer their employees access to resources like office space, equipment, and training.

4. You can learn about running a business while still being employed:

One of the best ways to learn about running a business is to actually do it. If you’re still employed, you can take the time to learn about the process and make mistakes without risking your livelihood.

Cons:

1. You may not have the time or energy to devote to your new business:

Starting a business takes a lot of time and energy, and it can be difficult to balance this with a job. If you’re not able to give your new business the attention it needs, it may not succeed.

2. You may be limited in the amount of money you can invest:

Many businesses require an initial investment of money in order to get started. If you’re still employed, you may not have the funds to do this.

3. You may feel pressure to succeed:

If you’re still employed when you start your business, there may be pressure from your employer (and from yourself) to succeed says Paul Haarman. This pressure can be difficult to deal with and can hinder your ability to make smart decisions about your business.

FAQs:

Q: Can I start a business while still employed?

A: Yes, but there are pros and cons to doing so.

Q: What are the pros of starting a business while still employed?

A: You have a steady income, you’re less likely to risk financial ruin, and you can learn about running a business while keeping your job.

Q: What are the cons of starting a business while still employed?

A: You may not have the time or energy to devote to your new venture, you may be limited in how much money you can invest, and you may feel pressure to succeed.

Q: Is it a good idea to start a business while still employed?

A: It depends on your circumstances. If you have the time and energy to devote to your new business, it can be a great way to learn about running a business. However, if you’re not able to give your new business the attention it needs, it may not succeed.

Q: Can I use my employer’s resources if I start a business?

A: Yes, many employers offer their employees access to resources like office space, equipment, and training.

Q: What are the risks of starting a business while still employed?

A: The biggest risk is that your business may not succeed and you will lose your job. Other risks include the possibility of losing money invested in your business and the stress of trying to balance a job with a new business.

Q: How much time and energy do I need to start a business?

A: It takes a lot of time and energy to start a business, and it can be difficult to balance this with a job. You need to be able to devote at least 10-15 hours per week to your new business in order to give it a chance to succeed.

Conclusion:

In conclusion, there are pros and cons to starting a business while still employed explains Paul Haarman. Before making a decision, you need to consider what’s important to you and how much time and energy you can devote to your new venture. If you’re able to give your business the attention it needs, starting it while still employed can be a wise decision. However, if you’re not able to devote enough time or energy, it may be better to wait until you’re no longer employed.

 

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