The question about how to balance having a 9-5 and running a business is one I get asked by many. While several people have attempted to answer this question on balance, however another debate has sprung out of it. The debate is about whether to quit 9-5 and face business or to balance the two. While a school of thought believes the two can work side-by-side, another believes you had better face the most profitable.
Can there really be a balance?
When should I quit one for the other?
In this article I will attempt to answer both questions.
There are a few motivations for which people combine 9-5 with a side hustle. For some it is the desire to have multiple streams of income. While for others, it is the desire to invest available time into something they are passionate about.
Working 9-5 and having to answer to a boss, meet deadlines is already tedious. But what’s more tedious is starting and running a business. It’s such a heavy task because often than not entrepreneurs start solo. The implication of this is that you are many things in one to your business. You are the manager, business developer, customer service provider, accountant, and so on. If you have started a business already, then you know It’s always difficult at the beginning.
However, if you really want success you’ve got to be willing to make sacrifices. Your business will only grow to the proportion of focus and attention you invest in it.
Hence, the first realization when thinking of a balance is to be ready to make sacrifices. These sacrifices may vary from person to person but may likely include sacrificing friends, leisure, money and a few other luxuries you enjoy before you decided to start a side hustle. This would likely means getting up early from bed and going to bed later than usual.
2. Delegate or automate
Here are two key words you must set out to have a grasp of. Take a close look at the routine tasks you perform in your business and see which of them you can delegate to someone else. In making this choice you will need to consider delegating tasks that consume most of your time, tasks you are not so good at and of course you need to consider the cost implication on your finances. Similarly, you’ll need to decide whether to delegate per task or to get people on board full-time. Outsourcing per task on freelance platforms such as Upwork, freelancer, Fiverr, etc., might be an affordable option.
Besides delegating tasks, automation is also a thing you should really consider. Check and see if there are tasks you carry out that there are software that helps you execute them when due. For example, applications like buffer, can be used to schedule social media posts. Similarly, if you spend time sending mails, you may want to use email marketing software that allows you schedule your emails newsletters.
3. Time management
Time is one gift we all have in equal proportion. You only have 24 hours a day to do all you can or should and already there’s a lot to do. Hence, you will need to be better at managing your time. Minimize distractions and the things that are usually a waste of your time. You’d be surprised how many things you can fit into your day when you minimize distractions.
Furthermore, you need to develop a routine and stick to it. One of such routine will be to start your day with a robust to-do list. This list should accommodate every routine task you execute in your job and business before anything else. Plan and schedule your time with some military degree or level of self-discipline.
Lastly, make the most of your spare time. This may include the time you spend commuting from one place to another, even lunch breaks. Also, don’t accept invitations when there’s work to be done. Most weekends can no longer be for partying and visiting friends. You’ve got to maximize your time.
Conclusively, I strongly believe that a time may come when you’ll need to decide whether to still manage the two or quit one for the other. So here are a few questions you may need to answer to decide when is right to quit your 9-5 for your business:
1. Is your side hustle already showing prospects of scalable profit?
2. Are you becoming less effective at either your job or your side hustle?
3. Does your side hustle already have so much traction that you need more time to nurture?
And while planning to quit your 9-5 for your business, I advice you save up as much as you can. You will need some money to fall back on for your upkeep while away from your job. Alternatively though, you could leave your 9-5 for another job that’s less time demanding or that has a schedule that fits with your business demands.