Entrepreneurship trends

Stay up-to-date with the latest trends and developments in the world of entrepreneurship, including new business models, emerging technologies, and changing consumer behaviors.

Your 9-to-5 and Your Side Hustle: Can They Coexist?

Your 9-to-5 and Your Side Hustle: Can They Coexist?

So, you’ve got a full-time job that pays the bills but also a side business that you’re super passionate about. Sound familiar? You’re not alone! Almost half of us working folks have got something cooking on the side. It’s pretty awesome but also a bit like walking a tightrope, right? Let’s dig into how you can balance the two without losing your mind or getting into legal hot water.

Time Management: How to Be Everywhere Without a Time Machine

1. What’s Most Important Right Now? Prioritize!

Okay, listen up. You’ve got a ton of stuff to do, but not everything on that to-do list is going to make a big splash. You’ve got to figure out what’s super important and needs to be done now, and what can wait. This is where the Eisenhower Matrix comes in super handy. It’s basically a chart where you put your tasks into categories like “Do Now!” or “Not Important, Chill.” Trust me, it’s a lifesaver.

2. Block Out Time Like a VIP

Ever heard of time blocking? It’s like scheduling VIP meetings but with yourself. This strategy is a favorite of productivity ninjas like Cal Newport. You simply block out chunks of time in your day solely dedicated to your side business. No answering work emails or watching YouTube. It’s game time!

3. Weekends and Nights Are Your New BFFs

Weekends and nights are your free zones. They’re your uninterrupted time to dive deep into your side hustle. No bosses breathing down your neck, just pure, unadulterated focus on your business.

Setting Boundaries

1. Workspaces Shouldn’t Double as Dining Tables

You don’t want to be drafting a business proposal at the dinner table. Science says that having a designated workspace actually makes you more efficient. So, carve out a cozy nook at home for the side hustle. It tells your brain, “Hey, it’s business time now!”

2. Set Office Hours for Your Side Gig

If your family and friends know you’re working on your side business from 6 pm to 8 pm, they’re less likely to interrupt you. It sets a boundary and makes sure you get those precious, uninterrupted hours to work on your dream project.

3. Don’t Borrow the Office Printer

Seriously, don’t use your work computer or printer for your side business. It’s not just about being ethical; it’s also about avoiding some pretty messy situations at work.

Legal Stuff: The Grown-Up Part of Having a Side Business

1. Read the Fine Print on Your Job Contract

Before you go full throttle on your side business, do yourself a favor and read your employment contract. Some companies are pretty strict about employees running side gigs. Make sure you’re not stepping on any toes.

2. Be Transparent With Your Boss (If Needed)

If your employment contract says you’ve got to tell your boss about your side hustle, then don’t hide it. Openness goes a long way in keeping things amicable and conflict-free at work.

3. Money Matters: Keep ’em Separated

You absolutely need to keep separate bank accounts for your side business and personal stuff. It’s not just good adulting; it’s actually a legal requirement most of the time. Plus, tax season will be so much easier.

There you go! You now have a roadmap for juggling your 9-to-5 and your side hustle. It’s not going to be easy, but hey, nothing worth doing ever is, right?

If you have a Side Hustle or planning to start one, do write back to me. I would love to hear your strategy and plans. Find me on Instagram : docdeemishra

E Myth Revisited

E Myth Revisited: A Must-Read Book for Small Business Owners

Are you a small business owner or an entrepreneur looking to build a successful business? Have you ever felt overwhelmed and struggling to keep your business afloat? If so, then “E Myth Revisited” by Michael E. Gerber is a must-read book for you.

In this book, Gerber explores the reasons why most small businesses fail and offers practical strategies for building a successful business. He introduces the concept of the Entrepreneurial Myth, which is the belief that all you need is a good idea, some hard work, and a little bit of luck to become successful. However, this belief is a myth, and building a successful business requires much more than that.

One of the key insights from “E Myth Revisited” is the need for entrepreneurs to develop three distinct mindsets: the Entrepreneurial Mindset, the Managerial Mindset, and the Technician Mindset. The Entrepreneurial Mindset focuses on creating a vision and strategy for the business. The Managerial Mindset focuses on planning and organizing the business. The Technician Mindset focuses on executing the work of the business. To build a successful business, entrepreneurs must learn how to balance these three mindsets and develop the skills necessary to operate in each of them.

Gerber also introduces the Four-Step Process for building a successful business, which includes the Primary Aim, Strategic Objectives, Organizational Strategy, and Management Systems. The Primary Aim is the long-term vision for the business. Strategic Objectives are the specific goals that will help achieve the Primary Aim. The Organizational Strategy is the plan for organizing the business to achieve the Strategic Objectives. The Management Systems are the processes and procedures for executing the Organizational Strategy.

Another key concept from “E Myth Revisited” is the Franchise Prototype. Gerber argues that successful businesses are designed to be replicated and scaled, much like a franchise model. By creating a standardized model for the business, entrepreneurs can create consistency, predictability, and scalability. The Franchise Prototype includes standardizing the business format, documenting the systems, creating a training program, and implementing quality control.

So, what practical steps can you take to apply the insights and strategies from “E Myth Revisited” to your own business? First, develop a clear vision for your business and identify specific goals to help you achieve that vision. Next, create a plan for organizing your business and develop systems that can operate without you. Implement the Four-Step Process and the Franchise Prototype to create consistency, predictability, and scalability. Finally, remember that building a successful business takes time and requires a deep understanding of the principles of entrepreneurship and business development.

In conclusion, “E Myth Revisited” is a valuable resource for small business owners and entrepreneurs. By understanding the Entrepreneurial Myth, developing the three mindsets, implementing the Four-Step Process and the Franchise Prototype, and applying practical advice, entrepreneurs can build successful and sustainable businesses. So, if you want to build a successful business, then “E Myth Revisited” is a must-read book for you.

Scroll to Top