First of all, we’d like to thank those of you per-ordered our book “The Part-Time Entrepreneur”. We surprised you by sending you an advanced copy earlier than we promised.
Now, we’d like to give you a look between the pages of the book.
In many ways, part-time entrepreneurship can be similar to full-time entrepreneurship. Most people assume that starting a part-time business is always easy. Books, blogs, and articles will tell you that you just need to follow an easy five step plan, purchase a program or invest in this one thing. They don’t tell you how to overcome the problems that you’ll face. They never tell you that you’re going to have to learn to balance life, work, and business. They don’t tell you how to find the extra 8 hours a day it takes to find products to sell online, manage your business finances, and market your idea.
They don’t tell you about the challenges you may face and the things you’ll have to sacrifice. As a part-time entrepreneur, you’ll still have deadlines, you’ll still have customers, you’ll still have products and services to sell and you’ll still have responsibilities. You still need to manage your money and manage your energy. The major difference is, with part-time entrepreneurship, you’ll need to do it in less time. In this way, part-time entrepreneurship can be more difficult than full-time entrepreneurship.
Talk to any entrepreneur that has left their job to run their business full-time and they’ll tell you the one thing they needed more than the money, was the time. This book is not going to be a “quick, get rich quick setup” or “five steps to full-time”. This book is aimed at making you a successful part-time entrepreneur so that, if you choose, you can be a successful full-time entrepreneur. This book will show you how to manage your time, create ideas, innovate, and utilize technology like successful startups do but in less time. This book is about overcoming the challenges you will face:
- How do you find the time to run a part-time business?
- How to generate good ideas that will help you succeed.
- What to do when you start to make money.
- What do you do when you aren’t making.
- Should you do it alone or should you find a partner?
- How do you handle the stress?
- How do you make the most of your time?
- How do you become the best entrepreneur you could be while still working a full-time job?
Part-time entrepreneurship is where it starts. If you can learn to manage business part-time, you are setting yourself up to have more freedom than even full-time entrepreneurs enjoy. You will be able to have the freedom to decide whether you want to keep your part-time business running for part-time income or if you want to leave your full-time job, run your business, and live your dreams.
Think of part-time entrepreneurship as training camp. It has many of the same elements as full-time entrepreneurship but with a lot less at stake. Before the NBA season, players develop their skills, work on their conditioning and prepare themselves for the season. If a player has a particular weakness that opposing teams can exploit, the offseason is the best time to work on that weakness. This is the advantage of part-time entrepreneurship.
If you have never had to deal with time constraints, how to scale a business, hiring (outsourcing or in-house) and everything else that comes with being an entrepreneur, your part-time business is the place to work on those skills. This book is for individuals who have an idea for a business but haven’t the courage to start. Maybe you’re thinking about developing an app, starting an eBay business or launching landscaping venture.
This book is to help you decide whether entrepreneurship is for you and if it is, how to use your free time to test the grounds of your business and yourself. This book is also for individuals who are running a part-time business but want to take that business to the next level. Maybe there are time restraints, lack of funding, lack of resources, or lack of experience. This book will show you how to get all of those things and more.
Chapter 2 The Realities of Entrepreneurship
“A dream doesn’t become reality through magic; it takes sweat, determination and hard work.” -Colin Powell
The idea of running a part-time business is attractive to many people for many reasons. The assumption is that a part-time business is easier than running a business full-time. Make no mistake about it, success, in any endeavour, is difficult. Since the idea of a part-time business is appealing, the wave of people who want to jump in is many.
The Difference Between Side Hustling and Part-time Entrepreneurship
Side hus·tle -“Activity that brings in extra cash; something other than your main job.”
It seems as though the “side hustle” is the thing to do these days. Most likely spurred on by the “gig economy,” side hustling has become a way to earn extra money while working a full-time job. Companies such as Fiverr, Uber, and Airbnb have made it possible for anyone to make some extra cash.
This book as not about side hustling. We believe in side hustling, but there is a difference between earning some extra cash and building a business while working a full-time job. There are certain responsibilities, actions, and mindsets that running a part-time business require that are not necessary in side hustling. A part-time business can be a side hustle, but you should never treat it as a side hustle.
The first obvious difference between side hustling is in their purpose. The purpose of side hustling is to better your lifestyle by giving you a weekly, bi-weekly, or monthly cash infusion. With that cash, you can take a weekend trip, pay off some debts, or just save for big purchase. All good things.
You can easily make an extra $200 a month doing just about anything. It isn’t as hard as you think. But if your purpose is to make $200 a month, you might as well just get a part-time job at a call center getting people to sign up for Direct TV. The purposes of starting a part-time business are too numerous to name. But we’re going to give it a shot. Here are JUST A FEW purposes for starting a part-time business:
- -Turning a skill into a marketable commodity.
- -Expressing a passion while generating revenue from that passion.
- -Building an infrastructure which will give you the option to leave your current job.
- -To build an infrastructure which will give you the option of working half of the time of your current job so that you can travel, and spend time with friends, family, and passions.
- -To be able to work in your underwear.
As you can see, there are many more reasons to start a part-time business. The reasons for doing so have a much deeper and broader meaning. They tend to be more tied to who you are and what you care about, and less focused on just the money.
The “part-timepreneur” designs their business while the side hustler is confined to their chosen side hustles’ design. This is not more evident than with individuals who use Uber as a side hustle. In January 2016, Uber drivers were up in arms when the company announced that it was slashing its fares from approximately $1.80 to $.65 in some cities. Drivers were outraged.
Protesters took to the streets in cities such as New York, San Francisco, and Tampa. Many complained of not being able to make a living driving for Uber because of the changes. This is the main reason why gigs such as Uber, Lyft, and even many multi-level marketing ventures should be side hustles, not side businesses. If you drive for Uber or Lyft as a side hustle, and you decide to make that your business, you are at the mercy of those who actually own those businesses.
They have the right to change policies at any time, and you will have to either adjust, or find another way to make money. If you bought this book looking for tips on how to be a better Uber driver, I’m sorry to disappoint you. Becoming a “part-timepreneur” means that you design your part-time business based on what YOU want it to be. You have options. You set strategies. You make changes, if needed. And you own the business, the business does not own you.
[This chapter continues. See below for a complete list of the chapters included.]
If you want to read more, the book is now available on Amazon ($5.99 kindle, $8.99 paperback).
But, you can get the book now for $4.99 if you order directly from us and get immediate access. If you have $5 and want to run a successful business get your hands on this book.
- Chapter 1 The Changing Landscape ………….. 4
- Chapter 2 The Realities of Entrepreneurship 17
- Chapter 3 Passion and Profits ………………….. 32
- Chapter 4 Being a Solopreneur and Cofounding .. 46
- Chapter 5 Using Existing Infrastructures…… 64
- Chapter 6 Stress and Strain Management…… 86
- Chapter 7 Creating Time from Thin Air…….. 96
- Chapter 8 The Idea …………………………………114
- Chapter 9 The Money……………………………. 132
- Chapter 10 Getting the Word Out……………. 151
- Chapter 11 Learning to Sell …………………… 166
- Conclusion ………………………………………….. 192
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