I’ve often heard (and you probably have too) that you can’t half-ass a startup. While that’s true, not every entrepreneur starts a business with between six and 24 months’ worth of living expenses set aside.
In other words, while you’re laying the groundwork for your startup, there’s still the pesky reality of rent, mortgages and other bills.
Since it’s not always practical to dive in head-first, you have to know how to ease into the waters. That usually means relying on a steady job’s stability and cash flow, while moonlighting as a startup founder.
Here are seven tips for helping you balance your day job with your passion until you’re ready to run your business full-time.
1. Know (and obey) your employee contract.
If you don’t already know the contents of your employee contract, revisit that paperwork. Look for any guidelines regarding a non-compete clause or your “after work” hours. Are you explicitly barred from working a second job? How much overlap is there between your current job and startup?
You particularly need to make sure that any intellectual property you create outside of work is yours and yours alone, and that your current employer can’t try to make a claim. Continue reading “7 Tips for Keeping Your Day Job” »