How to Start Your Own Business While You're Still Employed

When you already have a job, it can be daunting to think about starting your own business. It means longer work weeks, potential burn-out and less time to spend with family and friends. But unless you have plenty of capital in the bank, it's always better to start your own business while you're still employed.

For one thing, you won't have to worry about covering the bills while you're attempting to establish a client base. Generally speaking, new businesses don't start turning a profit until they've been running at least a year---sometimes much longer. It's far easier to keep your finances in check if you start your own business while you're still employed.

Furthermore, you'll have the luxury of doing things "just right" rather than rushing ahead to turn a profit. If you aren't worried about money, you can take your time with marketing, advertising and developing your product or service while you're still employed. When you finally get your business off the ground, you'll have a stronger platform.

If you're going to start a business while you're still employed, however, it's important to keep the following things in mind:

Keep Your Mouth Shut

While it might be tempting to brag to your coworkers about how you're starting a new business, you might find that you aren't employed by the time the gossip makes it up the corporate ladder. Employers don't take kindly to employees who start their own businesses while they're still employed, particularly if they suspect that you're using company time and resources to fund your own endeavors.

Until you're ready to give your two weeks, keep your mouth shut about starting your own business. Talk to family members and friends, but keep it out of the office.

Check Your Contract

Moonlighting is one thing, but starting your own business in competition with your employer is something else entirely. If you're still employed, make sure that your contract doesn't preclude your new business from getting off the ground. In general, you'll want to branch out into territory that doesn't compete with your employer.

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