In a previous article we were able to track down some tips for keeping our small web business expenses to the minimum while being able to maximize the profit. For a web related firm there are some expenses that are not required from day one and this helps us build some revenue while being able to provide more quality services and secure some profit.

For many starting entrepreneurs the idea of losing their salary is scary. Even if the wage is not that big and there are other issues too (otherwise, why think about starting on your own?), it’s still money coming into their accounts every 4 weeks (or 2 weeks, depending on the way the wages are being paid).

This money is still good money and can be used in order to sustain the new web business at least in the first months. There are still some problems we need to think about and this article will address them one by one.

1. Your new web business shouldn’t be a direct competitor to your official job.

If you still think about keeping that job, you must make sure you won’t be a direct competitor to your employer’s business. This might result in job termination and even legal problems. In my case for instance the official job was being a radio DJ and my web business deals with web sites, web promotion and domains/hosting issues. This means I am not a direct competitor to my radio studio so there are no problems.

Should you be in such a situation (having your business compete with your employer’s one), then you should think about moving into the new job and not working on your competitor’s business. Otherwise, it’s all nice and legal.

2. Your job needs to be less demanding than your business

In my case, the job means spending 4 hours at the radio station to prepare my show and also the 1 hour evening show at 7-8 o’clock.  I have to work from Monday to Friday only, so this leaves me almost all day and the weekends too for my own business. Working in both places is very difficult and this is one of the reasons I advise you to keep your job only if you’ll have enough time to develop your small web business.

3. You need a strict schedule and being able to work a lot

The 2 jobs are both important to you: one gives you a small or bigger wage that helps you build up more capital for the business and the business is your own and maybe one day it will provide you with all the needed revenue so that you won’t ever work for someone else.

In such case we need a VERY STRICT schedule. Try not to waste time at all, work at your job and then be ready to work some more on your own business. Your small firm is your priority now, but you must not neglect your job either since you’d only face problems and might get fired.

You will have to work even in the weekends on your private projects so that you can also keep your own clients happy. These months are not for fun or expenses, you are just a robot who’s working overtime all day long. Don’t waste time on things that are not important, try to focus on your tasks.

4. Would you like spending some money? STOP!

We need to understand one thing: we keep both jobs to earn money. This money will be saved or slowly invested. Don’t invest a lot of money since you are still in the begining and you’ll lose it. Save it into your account so that you can one day be able to sustain your growth without having to work in 2 places anymore.

In these months you will accrue quite some money, but don’t waste it. That new plasma TV or huge mountain cabin you’ve been dreaming for years need to wait some more. It’s important to have enough money for the family for a decent life and then all that’s left will be directed into your bank account. You will need it later.

5. Use your vacations wisely.

In my country we have 1 month of legal vacation from the job. For every year, the state offers us 21 working days to be used for vacations or anything we’d like. This is good strategic time resource: whenever you are being swamped with work on your own small firm, just take 1 week from your job and solve the problems.

I was able to do this last year too and it really helped me. I wouldn’t go to a vacation per se, but would use that extra week to focus on my clients and finish their projects. This week is not for leisure, it’s for more work. Try to put everything into place when it comes to your projects and clients and after these 7 days you’ll already have most of the problems solved.

6. This is not a permanent solution!

I don’t think about keeping my job forever. It’s a good solution for some months or maybe 2 years and then I’ll need to move on. I am working 15 hours a day (even in the weekends), have made tens of sites in few months, I run a 25 site network and get new clients each week. This is not something I’ll be able to do much longer and I am aware of this problem. This small job is still good since it provides me with a constant revenue and I have all the legal deductions solved by my employer (the health insurance, unemployment, taxes etc.) since my official salary is on their firm. I have to pay the firm taxes too, but the employment taxes are taken care of by them.

7. It’s no secret I own a web design firm.

As long as my firm has nothing to do with my radio job, this made me relaxed and ready to brag about my projects all the time. Your job mates are also potential clients or they can bring in some clients for your business. Don’t be too discreet. Let them know you have a web related business, tell them what you do and even show them some projects. One day some might work with you or tell their friends: “Ah, you know, I’ve got a coleague who might help you with this.”

Working in 2 places is difficult, this we can say over and over again. If you are careful with your time and money, try not to compromise your health and focus on your tasks, you’ll be able to celebrate 1 year as I did with some nice profit and a lot of experience. I am still able to keep both jobs and I can only tell you these 12 months have been the best of my life. Even if there is a lot of effort into all this and I really need a real vacation, I was able to secure a lot of contracts and earn quite some money. Now I can think about reinvesting some of it and who knows, maybe in few months, bid my job adieu and focus on my own business. 

I hope these tips were useful. Please share your ideas and experience too. I would love knowing how you managed having your own firm while also keeping your job.