facebookPlanning to start a business with a friend soon but am working full time too. How to juggle between both and when to know it’s a good time to jump over to my biz? - Seedly

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Anonymous

09 Oct 2023

Adulting

Planning to start a business with a friend soon but am working full time too. How to juggle between both and when to know it’s a good time to jump over to my biz?

Discussion (10)

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If you are earning more than your full time job. though there is always uncertainities in doing biz.

I think mindset is very important too. Believe that you can do it, even if it means making certain sacrifices during the first few years of your business. Have faith in the product/service that you are selling. Make sure you strike a balance (at least in terms of the number of hours spent) on both your day job and side business. Lastly, family support as well.

Chin Guo Qiang (ITIL4 / CSPO / CSM)

15 Oct 2023

Assistant Vice President, IT Operations at Bank of China Limited

Might want to consider doing the business as a sideline, and see how things goes.

Your current full-time income will be critical for cashflow management while the business takes shape.

Once the sideline income and commitment levels are more well-defined, then only you might want to consider jumping in full-time.

That being said, it will be your choice to jump in early, as long as you have a sum of money for basic monthly expenses (up to 24 or even 36 months if applicable).

Good Luck ! 👍🏻

When your business income exceeds ur monthly income for a consistent 6 months.

Hey OP, if you're planning to jump over to your business, do give this article(https://planner...

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