5 tips for working full-time and running your own business

There are many perks to becoming self-employed. You get to choose your own hours, work where you want, and do something you truly enjoy.

According to Enterprise Nation, one in three UK adults are considering starting their own business.

However, while it might be tempting to hand in your notice and take a running leap into entrepreneurship, it can often be sensible to keep working. This gives you time to do your research and earn money to keep your business idea afloat.

Does the idea of working two jobs at the same time fill you with dread? Here's what to bear in mind to make working full-time and running your own business as pain-free as possible.

1. Check your contract

If you're employed, there might be something in your contract saying you can't start your own business. This clause is usually in place to stop you from competing with your place of work as well as stealing clients or intellectual property.

My advice if this is the case? Speak to your manager or HR representative. Most companies are okay with you running a business as long as it's not a conflict of interest and doesn't interfere with what you do for them.

Even if there isn't a clause, it's good practice to let your company know so they're in the loop. You never know; they might even become your first customers!

2. Prioritise your goals

Working a full-time job means you have fewer hours to focus on your side hustle. The best way to optimise your time is to know what you want to achieve and work towards that goal first and foremost.

Let's say you sell handmade cards, and your primary goal is to get your cards into your local shops. Your focus might be on researching the different stores, finding out who the relevant buyers are, and pitching to them to show why they should stock your cards.

You might have a million and one ideas when you're starting out. However, you'll be in a better position to succeed by homing in on the goals most likely to benefit your business.

3. Make life easier for yourself

You have to wear a lot of different hats when you run your own business. You're not just the founder, but the head of sales, the lead marketer, the director of finance… you even have to make your own cups of tea!

While it might seem counterproductive, taking shortcuts when you're starting out can save time and guide your strategy moving forward.

For example, before you invest in an eCommerce website, you might opt to use a marketplace like Amazon, eBay, or Etsy. These websites invest in marketing and SEO on your behalf, meaning you can see if your products sell before you commit to your own online store.

Another solution is to use dropshipping. This is when customers place orders on your site and a third party sends the products to them for you. This means you don't have to hold stock, spend time posting products, or deal with returns.

You can also delegate tasks to other people. For example, you can hire a virtual assistant to manage your schedule, a social media specialist to manage your social media accounts, and an accountant to manage your earnings.

Speaking of accountants…

4. Save up!

Having two incomes is amazing, and you might already be dreaming of what you can do with all that extra cash.

However… it's important to save your money, especially if you're ultimately planning to leave your job. I recommend you have three to six months' worth of savings if you become self-employed so that you can pay your bills if you hit a blip.

You also need to put some of your money aside for taxes. While taxes are automatically taken out of your monthly payslip for your full-time job, you have to file an annual tax return if you earn over £1,000 from your side hustle.

The rate of tax you have to pay depends on how much money you earn. It's best to put this money aside when your revenue comes in so you can't accidentally spend it.

5. Don't forget to take time out

Twenty-four hours in a day might sound like plenty of time to work two jobs.

But if you don't take time to relax, you're going to get stressed and overwhelmed. Burnout is a significant contributing factor to why a third of new businesses fail.

A good starting point is to define clear boundaries – identify your working hours and stick to them. No exceptions.

Also put dedicated time aside for your own health and well-being. Whether that's going to the gym, taking the dog for a walk, or chilling out with a book and a packet of biscuits.

The happier and more well-rested you are, the higher the quality of work you can do.

Want to know more about building your eCommerce business? I regularly post about digital marketing for online stores. Check out my previous posts, and don't forget to click the bell in my profile to get notified when I release new content.