Developing A Business Startup Is Possible While Working A Job
On behalf of The Law Office of Lynnette Ariathurai, A Professional Corporation posted in Business Formation & Planning on Friday, February 20, 2015.
People sometimes think they have to totally quit their jobs in order to truly embark on the road to entrepreneurship in California. It is for this reason that they may decide not to take the leap to start their own businesses. However, those who are interested in creating a business startup can actually maintain their day jobs while pursuing their dreams by taking a few essential steps.
First, it is important to create a plan detailing exactly what one wishes to achieve. Some individuals may be interested in developing large companies, while others might be more focused on building small companies or charitable organizations. Then, it is critical to produce a reasonable timeline for accomplishing the entrepreneurial project.
Next, it is important to save money so that one has financial security. Having a strong financial cushion is particularly significant for those who ultimately would like to leave their day jobs and devote themselves to their business projects full-time. It helps to take time off from a job, maximize one's free time or even outsource some business-related duties to others in order to get the venture going. Exploring training opportunities in order to develop any skills necessary for the project is also a wise idea.
Developing a business startup in California can be a complex process, because the aspiring entrepreneur must wear many hats in order to make the business work. However, one task that cannot be overlooked at the start of the process is business formation. Proper legal guidance can help a person to legally structure a business in a manner that will take into consideration the best interests of the new company -- for example, by resulting in minimized risk and tax liability each year.
Source: hbr.org, "Get Your Passion Project Moving Without Quitting Your Day Job", Rebecca Knight, Feb. 19, 2015