How to Plan & Build a Business Part-Time

Video Transcript

"Hello, my name is Fj Cava and I have a MBA from San Francisco State University in entrepreneurship. I am also owner of the Bayview Webspot here in San Francisco, California. I'm going to talk to you today about how to plan and build a business part time. The key factor for starting a business part time is actually time management. You will need a business plan of course which is very important and you should plan the business as if it were a full time business but the key component of starting a part time business is time management. You'll of course want to keep your primary source of income which will consume a majority of your time which will also distract you in having to focus on the business that you want to start. So block time aside either once a day either in the evening or on weekends in order to manage time that you need in order to get the business off the ground. So focus on blocking a period of time every day or on the weekends to work on your business ideas. This will help you get your part time business off the ground. Often times part time businesses are used for what is called for income patching so just a little revenue stream on the side in order to make up for the money that you aren't making in your primary job. The challenges of this are that it really takes a lot of time to get a side job up and running. It also has to do with time management, making sure that you can balance the time that you need to give fully for the secondary project while you are running around taking the kids to school, working your primary job, cleaning the house and managing your own finances. Part time businesses are really a challenge because they take the few minutes of the day that you have for yourself and eat them up with trying to start a small business. Often times a full time businesses are probably the best way to go."