Starting a part time business is a big commitment… but is it suitable for you?
There are lot’s of people who would like to make extra money in their spare time but most won’t actually do anything about it.
In this post I will talk about why this can happen and how to choose the right part time business for you.
Is A Part Time Business For Me?
There are lots of different ways to make money in your spare time – some of which you can find in the post 7 Ways To Make Spare Time Cash , but you have to choose what is right for you and also decide if starting a part time business is right for you at all.
The reason I say that it may not be for everyone is that whatever you do to make the extra money, will take up time and take certain skills that you may or may not have.
So before you decide to look at different ways to earn money, think about the following
- How much spare time do I have?
- What days and times do I have to do the work?
- What skills do I have?
- Will other members of the family be helping me?
- Am I self motivated enough to do it?
So lets look at each of these bullet points in more detail.
How Much Spare Time Do I Have?
Look at what spare time you have.
What do you do with this spare time at the moment?
If you spend your spare time sat in front of the TV, then the time could probably be spent in a more constructive way – like making extra money!
If you spend your spare time at the gym or playing sport or doing any organised hobby with other people, then you might not want to give this up and so limiting the time you have to do other things.
What Days And Times Do I Have To Do The Work?
Think about when you have spare time.
What hours do you work, how many hours a day?
If you get home from work at a late time and have a tiring job, you will have to think carefully about the type of extra work you do to earn a second income.
If your extra work is online, then this can be done anytime, day or night.
On the other hand, if the extra work involves doing something offline then you need to make sure you are available at the correct time to do the work.
What Skills Do I Have?
Take a look at what you are good at.
Think about the type of work that would suit you best.
Are you good with computers?
Do you have any technical skills such as building websites for example?
By going through what you can and can’t do you can quickly get a list of possible ways to make money and rule out the ones that aren’t suitable.
Will Other Members Of The Family Be Helping Me?
Think about who will help you with your part time business… if anyone.
Do you have a partner who can help?
Maybe you have teenage children who can get involved in some way?
This can have a massive effect on the amount of time that can be put in and can be a real help in creating a part time business.
Am I Self Motivated Enough To Do It?
Lot’s of people like the thought of starting a part time business but whatever you eventually decide to do, you will need the discipline and self motivation to put in extra work on a regular basis.
If you have a bad day in your day job you will still have to put the extra work in when you get home.
This can be very difficult and you really have to love what you do to keep going when it becomes difficult for some reason. It is easy to just say ‘I will do it tomorrow’, but that isn’t always possible and your focus needs to be on your part time business.
So… Is It For You?
Take a look at all these factors and decide whether a part time business is suitable for you.
This will give you a clearer vision of what is involved and you can start your business knowing exactly what you can expect in the future.
This knowledge can be the difference between success and failure.
I hope this post has given you a few things to think about and helps you make an informed decision about you future.
Enjoy the ride!