« United Cats & Dogs – Social Networking For Pets (or Pet Owners) | Home | Mahalo »
The Entrepreneur in the Next Cube
By Rob | June 1, 2007
In the valley, it’s much easier to get funding for something that is just an idea. For the rest of us, we often have to start ventures on the side while we hold down “day jobs.” That is why, no matter where you work, you may have an entrepreneur in the next cube.
Once upon a time, Jennifer Sloane used to come home after a hard day at her Winter Park law practice and relax.Then she became an entrepreneur.
Now, after a typical workday, Sloane finds herself in front of her home computer, either working on her startup company or catching up on legal work that got put off because of her business.
“I think I have the stamina to keep it up,” said Sloane, who invented and sells Privacy Strips, small adhesive tabs that close gaps between the buttons in women’s blouses. She added with a laugh: “It will be that way till I pay off my law loan.”
Like Sloane, many entrepreneurs are moonlighters who start a business in the off hours from a paying job.
Nearly one in three self-employed entrepreneurs — 32 percent — holds down a second job, according to the U.S. Small Business Administration.
The problem with this approach is focus. Your mind drifts at your day job to think about all the things that you could be doing to move your startup forward. By the time you get to work on your startup, you are frazzled and tired. But the benefit is that you can pay your bills until your startup has time to germinate, grow, and generate some income. The article contains an excellent piece of advice from Jerry Ross of the Orlando SBA office.
“I usually tell them, ‘Don’t quit your job until it costs you money to go there,’ ” he said. “It’s all about income. If it [the business] is not making profit, it’s a hobby.”
And hobbies don’t pay the bills. So stock up on the coffee, the red bull, whatever it is you need to make the day job and side startup work together. The stress and workload are tough, but if it was easy, everybody would do it.
