Is it possible to build a successful and profitable side business while working full time? Of course, it is!
I built my marketing business “on the side” while simultaneously growing a successful healthcare career.
I wouldn't say it's easy, but it certainly can be done.
My story…
I started my marketing side business back in 2009 while working full-time in healthcare. I wasn't one of those who hated my job and wanted to fire my boss. I loved my job.
But I wanted CHOICES for the future.
I wanted to be the one who decided when to hang up my lab coat for the last time. I didn't want anyone else making that decision for me. Not my boss. Not the hospital. ME.
And I certainly didn't want to depend on Social Security or the federal government for my future.
I wanted to be in control and retire on my own terms when I was ready.
Because I had no urgent need to get out of my full-time job, I probably didn't treat my side business as seriously as I could have, especially in the beginning.
Truth be told, I was more of a hobbyist in those early days.
But the older I got and the more stressful my healthcare job became, the more serious I got about my side business.
And on October 25, 2019, my wife and I retired from our healthcare careers and went full-time in our marketing business.
This moment didn't come easy.
It didn't come without hard work and sacrifice.
It may not be the path the average person would take… but no one has ever accused me of being average.
And if you're reading it, I'm betting you aren't “average” either.
We did it our way.
And in this blog post, I want to show you the most important things to pay attention to… if you want to do the same.
With that said, let's look at what you'll need to do to be SUCCESSFUL in your side business…
7 Tips For Building A Profitable Side Business While Working Full Time
Whether your goal is to build your side business fast and get out of a job you hate…
Or you want to slowly grow a side business preparing for your future…
These tips will help.
#1: Understand the Differences Between Being an Employee and an Entrepreneur
This tip is #1 because it is that important. There are several differences between being an employee and an entrepreneur.
One of the most important differences is how you get paid.
An employee generally gets paid by the hour, by time spent working. You work 40 hours, you get paid for 40 hours.
An entrepreneur does NOT get paid by the hour. Heck, they don't even get paid for their effort.
They get paid for results, which can often happen long after the work is done.
If you can't delay gratification, you can't be an entrepreneur.
Resource: Business vs. Job: Which Do You Really Want
#2: Treat Your Side Business Like a Second Job
People often start a side business with the goal of gaining the FREEDOM to live life on their own terms.
The freedom part comes later.
Before that, you have to give your side business the time and attention it needs to gain momentum and become profitable.
That means showing up as if your side business was your second job.
It means showing up when you say you're going to work on your business.
It means sacrificing the TV show or the party so that you can spend time growing your business.
It means finding the time in your day to devote to your new enterprise, and not putting it off until tomorrow.
If you need help with the time aspect of your business, this micro-course will be just what you need.
#3: The Power of One
I wish I had learned this concept earlier in my business.
The problem with most novice side business owners is they try to do too much.
They want to sell every one of their company's products. They want multiple streams of income. They want it ALL.
Ironically, the way to have it all is to narrow the focus of what you promote.
That means…
- One company
- One product (or group of products)
- One target market
- One marketing strategy
- For one year.
Don't try to grow 2 different companies (unless the products are completely complimentary). I've seen so many people try to grow 2, 3, and even 4 network marketing businesses at the same time.
Even advanced marketers struggle with this, so do yourself a favor. Start with one.
Resist the urge to promote every product your company offers, even if you think they're all great. Pick one to focus on. Preferably the one where you've had the best personal experience.
And on the subject of promotion, don't try to be everywhere, all the time. Focus on one marketing strategy, one platform that you love being on.
And one year? Yes, give it a full year before deciding to pull the plug and go in a different direction.
#4: Focus on Activities That Matter Most
You may have noticed that I used the word “focus” a lot in the last paragraph. That's because if you don't focus, you don't have a chance in growing a profitable side business, whether you work full time or not.
You MUST find those groups of 2-3 activities (I call them “money tasks” that, if you do them consistently over time… will make your success a foregone conclusion.
To identify YOUR money tasks, pick up my Free Daily Action Guide. The answer is there.
#5: Consistency Is The Secret
For the longest time, I was convinced that there was a SECRET that the gurus and leaders weren't telling us.
I was convinced that they were leaving out some crucial skill or strategy that separated the successful from the wannabes.
It turns out, that “secret sauce” was right under my nose all the time.
It is CONSISTENCY.
Once you know your money activities (see Tip #4), then you must be consistently doing them.
This can be easier said than done, especially if you're building a side business while working full time.
It's so crucial that I devoted an entire micro-workshop to help you with consistency.
#6: Don't Confuse Learning Skills With Being Skilled
When I first started my business, I recognized there were lots of skills I needed to learn. Skills that had nothing to do with healthcare.
Skills like prospecting, closing, copywriting, video creation, and alike.
So I set out to learn these skills as quickly as I could in the time I had.
There was only one problem — I neglected to implement anything I was learning.
After a while, I was book smart as a marketer. But certainly not street smart.
I had become a professional learner with no results to show for my knowledge.
I had learned the skills, but I was not skilled.
Don't make the same mistake…
Make it a practice to implement what you learn.
Here's a micro-challenge I put together called the Focus and Implementation 1-Hour Challenge that will help you put into action what you're learning.
#7: Pay Attention To Your Business Expenses
A big aspect of profitability is not only bringing in more income but controlling the expenses that go out.
So many part-time marketers I know focus on the former and don't pay attention to the latter.
Reducing business expenses can mean the difference between being profitable or being in the red.
I created this free training to help you identify business expenses you may be able to cut out.
These 7 tips for building a profitable side business while working full time are not hard to put into practice. For the most part, it mostly takes planning and execution.
But it is exactly these factors that are mostly ignored in a side business, as the novice entrepreneur obsesses over leads and sales.
If you put into practice what has been laid out in this article, the leads and sales will take care of themselves.
Looking For Side Business Ideas?
While this post focuses on best practices for creating a long-lasting profitable side business while working full time, you may be at a stage where you're searching for business ideas.
If that's you, I've got you covered.
Check out: 5 Proven Side Business Ideas When You Still Have A Job
You should be able to find a business model that suits your talents, preferences, and schedule.
Recommended Courses To Jumpstart Your Business
Crush Consistency NOW! - if you find yourself lacking consistency in your business, you must own this course!
Focus and Implementation Challenge - learn how to dramatically improve the focus in your business and become an implementation machine!
Part-Time Shortcuts - who says there are no shortcuts to success? This course reveals 4 shortcuts that will cut your learning curve in half.
Part-Time Mastery - if you're short on time for your business, this course is the answer!
Part-Time Profit Machine - my flagship course, this 7-module course covers all aspects of your Side Business, from mindset, time and focus, prospecting, lead generation, building a list and selling to your audience... all using the most time-effective strategies.
It's Your Time to SHINE!
Dr. Bob Clarke
Email: Bob@BobandRosemary.com
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