If you have an existing job but is struggling to get by you have two options: look for a better paying job or failing that start a sideline business.
Now a sideline business by definition is one that does not take up a lot of time this is because you already have a fulltime job. So let’s say you have a 9-5 job, a sideline business must not encroach on those hours, this is obviously as if you are neglecting your current job you can end up losing it along with your main source of income, only later if your sideline business takes off then can you think about leaving your day job and turning your sideline into your main business, this requires even more thought if you have a family to support. I am assuming here that can do no work related to your sideline during that 9-5 (no courier collections, not even take calls).
Ideal sideline business characteristics
*** What you are looking for in a sideline business is one that is not too laborious. You will already be tired from your day job, and if you work too hard you might be too tired during the day to do your day job.
*** A business that can be conducted after hours, you will only be getting home around 5:30 to 6PM even later if you live far away from work or take unreliable public transport. Ideally you would want to sideline for at least 4 hours a day (five if you can), but remember you don’t want to sleep too late as you don’t want to be too tired at your day job.
*** Must be able to be run from either your home or garage.
Developing a strategy
You have to consider how much free time you have after work and on weekends, as well as how much extra you want to earn (be realistic) and take how much capital you have to inject into your side business. If you have no extra cash to put into it, then you need to see how you can leverage your current expertise to make extra money.
Interesting reading
STAGNANT ECONOMY DRIVES SOUTH AFRICANS TO WORK MULTIPLE JOBS AND BECOME ENTREPRENEURS
