Most people love to experience being an entrepreneur as most people love the idea of being their own boss. Other times people may realize that they can use the lessons and knowledge they have learned in their full-time job, to create a more efficient business. Whatever the reason you are considering starting your own business, if you are looking at working full time till your business makes substantial profits, here are the pros and cons.
Security factor – Leaving your full-time job, will leave you with the pressure of having to make profits that cover your expenses from the get-go. Apart from the added pressure, this will create, if your business does not make profits that cover your income, the chances are that you will not be able to cover your basic expenses.
Use your company’s resources – Your full-time job may offer you a laptop, software or a car, that can be used for your startup when you are not at the office. You can also get advice from other professionals about how to manage your business to make it profitable.
Time – With full-time work and a business to run in your free time, you will have little or no time for yourself, friends or family. The lack of time will also mean, that you will take longer to get your business up and running as you will have to manage your work and family commitments, together with your business’s needs.
You may consider your business as a hobby – Due to the lack of time and energy, you may consider your business a hobby and not be motivated to make your business a success.