Published by Angel N. Scott
2 years ago
First benefit in keeping your current job, while starting a new business, is financial security. Starting the new business can be risky at times. Leaving your current job means that you officially have zero income with the possibility of bankruptcy. That is not a wise decision in any case. If you have your job you can spare some money to your business in case you encounter a loss.
Having financial security means that you have a relaxed state of mind. You can give the maximum to your business and your family. Business in the start needs full mental attention. Financial tension is the biggest tension in a person’s life. Under the effect of financial tension, you cannot give full attention to the business. So in the beginning of the business you must keep your job so that you can keep your concentration.
If you are working for your full time job while setting up your new business it means you can get some help from your office. This help is not necessarily monetary in all cases. You cannot induct physical resources into your business from the office, but your co-workers and can give you good pieces of advice in some topics. If you have some financial analyst in your office, for example, you can get their consultancy without having to pay for it. Likewise, you can get advice from any other professional in your office.
Any new business needs a number of diverse field contacts to flourish. You must have a lot of contacts to make your venture a successful one. Working in an office for a day job can help you with this task. Your acquaintances in the office and their contacts can help your business flourish in the initial stages.
If you do not have enough finances to start a business with, you may need a bank loan. Bank loans generally want a sort of guarantee and generally cannot be obtained if you cannot provide a solid one. Even if you manage to get a loan, without a guarantee such loans often have a very high interest rate. People who have a full time day job in a well reputed firm can easily get a loan from a bank. It means continuing your job in the start of your entrepreneurial carrier can make it easy for you to get a base finance to start the business from.Though it can become frustrating at times and challenging to navigate, keeping your day job is one of the smartest moves you can make, when starting your career as an entrepreneur.