How to Start a Weekend Business-What You Need to Know
71Millions of Americans pursue the dream of financial freedom by running their own businesses, but many are hesitant to get started. Starting a weekend business can be the best way to jump on board to the growing pool of entrepreneurs; if you can commit just 8-10 hours of your weekend each week, you'll have time to focus, plan, strategize, and build a business from the ground up! Thousands of businesses have been launched in this way, and even when you have a full time job and family to support, you'll find yourself allocating a few hours towards business development with ease. Here are some tips on getting started:
1. Develop a purpose and a business plan. You'll need to flex your brainstorming muscles here, but go ahead and put those thoughts down on paper and see what you can come up. Your weekend business might be crafty, allowing you to tap into your creative potential and sell your own products. It might be a service, a business that allows you to work with clients as an independent contractor. Or, it might simply involve putting together a team of like-minded entrepreneurs to launch a web-based retail site. Whatever the case may be, just list out what you think you would be passionate about, and what talents you can bring to the table. Defining the purpose, or mission statement, can really help you focus on what your next steps will be.
2. Estimate your initial costs. Many startup entrepreneurs get hung up on the finances before they even give themselves a chance to try out the waters. Putting down your estimate will give you much better perspective on what you think this will entail, and then you can work on ways to get funding. Once you have a goal, it becomes much easier to solicit investors, create a pitch, and even pursue a bank loan if you need one. If you are using your personal savings, you'll also have a specific amount that you know is going towards your new venture. Moving costs out of the ‘grey' area can help relieve the anxiety related to the financial aspect of your weekend business.
3. Commit some time. Even if the weekend business idea flops, you can get started by reserving a few hours (4 per day) exclusively for your idea. Pursue it relentlessly, give yourself the freedom to ‘go at it' without over-thinking. Remember, over analyzing the details in the early stages will set you back and create obstacles you might not even need to deal with. When you set a specific amount of time for business development-knowing that you'll be ‘done' in a few hours-the chances of having a secure and focused plan are increased considerably!
4. Start networking. Sign up with stay-at-home-mom entrepreneur groups, find out more about work from home opportunities, and get involved with blog communities. All of these areas on the web are rich resources for learning how others have succeeded with their independent businesses, and can provide insights and tips on how to get your weekend business up and running. Blogging and social networking are especially helpful in staying motivated!
5. Don't be too casual about your business. The temptation to just ‘go with the flow' is common for startup entrepreneurs and those that are self-employed. While the freedom of creativity and development are valuable, it's important to set some goals on a regular basis, and make a commitment to achieve them.
6. Don't plan on immediate profits. Since you'll be doing this on a very part-time basis, it's important that you understand how to become efficient with your time instead of focusing on making money immediately. If you are set with making a living Monday through Friday, you'll have more freedom to be creative on the weekends. If you are depending on weekend income, make sure you have a backup plan as you get going on your new venture.
7. Brush up on technology. Technology is more important today than ever before, and the more proficient you become in using the Internet, doing research, and finding out what you need to know, the higher the chances of success with your weekend business. Instead of taking classes on every possible technology-related subject, find a tutor or mentor who can ‘show you the ropes' in a weekend or two. You'll have practical hands-on experience, and avoid the costs of in-class attendance on a weekly basis. If you prefer a classroom style setting, consider taking an online class so you'll have a more flexible schedule.
8. Keep it professional. After the initial stages of launch and exposure to the entrepreneurial community, make sure you are keeping things professional so that people take you seriously. Many startups simply don't have the right image or presentation for would-be customers and clients find attractive. If this means making some simple business cards and letterhead, do it! The financial investment is very small for the long-term benefits.
9. Learn some basic time management skills. Becoming efficient with your time will help you balance all areas of your life, not just your weekend business. Making sure you are committing to your goals will require you to allocate time accordingly; you'll need to learn how to focus and take your work seriously enough to withstand pressures of distraction.
10. Consider hiring part-time independent contractors. If you do have some capital to pay other people, considering hiring short-term contractors to help you launch and get situated. Your team can help you develop areas of the business that you may not be skilled in, and you may even end up hiring a few for the long-term. Just make sure you are offering a competitive wage and share the background and goals of the business to keep everyone motivated.
Launching your own weekend business can be an exciting venture, and if you plan and strategize with the right tools, you'll have plenty of options to grow and prosper. Coming up with a central idea is the first step, and will help you define and shape exactly what the purpose of your business will be. The purpose is usually very simple, and once you develop this fundamental step, you'll be on your way to ongoing success!
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Comments
Sabah, the info posted is really great. Specific, concise and Useful. Waiting for more..!
Taking the plunge on hiring people to help has to be one of the hardest things for me to jump into. I know it will make life easier, but I hate to give up that control! :o) Great info. Love to have you stop by my blog at http://www.mom-e-preneurs.com
Sabah,
A brilliant article with some really useful advice.
really great advice, sabah. i think the part about not over-thinking it is so important. that can be a total stopper for people.
thanks,
roberta











Kat07 says:
2 years ago
Solid suggestions, thanks!