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HOW TO START A BUSINESS WHILE WORKING FULL-TIME

by Yuwanda Black

Oftentimes, the only way to realize your dreams as an entrepreneur is to begin while working full-time. Yuwanda Black, an entrepreneur with two small businesses, comments:

I started my first business in 1996. With ongoing financial obligations such as rent and student loans, I realized that I couldn't quit my job and run the business full-time from the outset. Keeping my job allowed me to grow faster than I might have otherwise, because all profit went back into the business.

Many, however, are reluctant to start in this manner because they worry about such issues as business image, customer loyalty, and family time. To put these concerns in perspective, let's look at a couple of statistics:

**According to the 1999 Census Bureau non-employer statistics, 72% of all small businesses do not have employees

**In 2001, there were over 22 million small businesses in the United States; this represents over 99% of all businesses

These statistics illustrate two glaring facts:

1) the majority of businesses are not major corporations; and

2) you will probably be responsible for every aspect of your business - from paperwork to customer service, at least in the beginning stages. As most businesses are not major corporations, worry less about competing or trying to present that image.

Focus on what most small businesses do better than large corporations: customer service. In an Internet business, this is especially important. While servicing your customers will be your main goal, you will be called on to perform many tasks — some none too pleasant, e.g.: filing appropriate tax forms, obtaining insurance; ordering and shipping merchandise; haggling with vendors. The list is endless. With a full-time job and family responsibilities, you may be wondering if it is possible. It is, and the key is organization.

Some suggestions to get you organized are to:

1) set aside a space, no matter how small, to conduct your business;

2) organize your files into a system that works for you; and,

3) update your files at least once a week (daily would be better). As Ms. Black has proven, working full-time while starting a business can actually increase your chance of success. And if you doubt its worth the effort, remember this, according to the November 2001 issue of Forbes, fully 80% of American millionaires are small business owners-entrepreneurs who accumulated their wealth in one generation - and they are powering the ranks of the newly wealthy.

Now, that's incentive!

May be reprinted with the following, in full:

Yuwanda Black is a serial entrepreneur and the editorial specialist behind EntrepreDoer.biz. EntrepreDoer.biz offers writing, editing, copy editing and simple web design services to small- and medium-sized businesses. Projects include brochures, newsletters, Web copy, sales letters, press releases, etc. Visit http://www.EntrepreDoer.biz for rates, deadlines and more. Send questions/feedback to info@EntrepreDoer.biz.

 

 

 

 

 

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