Have you ever thought of starting your own business in tandem with working full time for your employer? Do you crave the extra responsibilities, increased pay and enjoyment that self employment can bring? – Well you aren’t alone! Many of us would love to be our own boss and work on our own projects, but is it possible to launch your own small business startup venture while you are working full time?

Starting your own small business while you are in full time employment is actually a very sensible route to pursuing your dream of running your own enterprise. The good news is, it’s absolutely possible to run a small business alongside your day job, the key question you need to ask yourself however is whether you have what it takes to take your business to the next level.

One of the advantages of pursuing this route over dumping your employer and risking it all are the financial security benefits. The vast majority of us require a moderate level of sustained income and depending on your financial or personal circumstances; it really may not be a sensible idea to risk you or your families lively hood by pursuing your startup business idea without some form of financial security. Running a startup business part-time alongside full-time employment is a viable starting route, sure it’s not easy to manage your own business, your day job and your family all at once but those who are committed will make it work.

Unfortunately you really can’t afford to leave your full time job (especially if you are on a career or development path) until your startup is truly off the ground and making adequate income to support you and your family. Of course some people do, but that is an extremely risky strategy and I would be inclined to say that timing is everything and leaving your day job premature carries heavy consequences should your startup fail.

The dilemma of balancing your own time will be what you will find most difficult, especially if you have a family to consider too. There is no hiding it, it’s a real struggle to manage a startup business whilst still being in full time employment and trying to fulfil your family responsibilities.

In order to move forward, you need to consider making the “big break” – a decision to pursue your startup business on a full-time basis.

A few of the questions you should be asking yourself before doing this are:

• Have I developed my business to an established and profitable level thus far?
• Do I have enough scope to develop this to support me financially?
• Have I developed my business plan enough to provide the direction for my businesses future?
• Do I have what it takes to run my own business on a full-time basis?
• Is the time right in my life to take things forward? Are the risks too high? What are the consequences if things don’t go to plan? How can I plan to cover myself in the event of failure?

It’s not an easy choice to make, as you can see – don’t take the decision to take the plunge lightly.