Should You Take Your Part-Time Business Full Time?
Now that you're a part-time success, here's what you need to think about before going full time.
Does all work and no play make entrepreneurship no fun? Some entrepreneurs who run part-time businesses based on hobbies, such as crafts or cooking, find that going full time takes all the fun out of the venture. "Going full time turns an adventure into a job," as business expert Arrnold Sanow puts it.
"Some entrepreneurs have trouble grasping the fact that their businesses aren't just pastimes anymore," says homebased business consultant Sylvia Landman. "They can't work at their leisure any longer, and their ventures may require them to develop talents they didn't know they had and perform tasks they'd rather leave to someone else."
Don't get so caught up in the creative aspects of the venture, Landman warns, that you lose sight of the business responsibilities you must assume to make your start-up succeed. Take a realistic look at what going full time will require. Perhaps you can hire people to handle the business aspects you dislike, such as sales or operations.