Motivation Monday: Turn Your Side Gig into a Thriving Business Without Quitting Your Current Job!

Walsh College

10 Sept 202402:14

Summary

TLDRThe transcript discusses the viability of pursuing entrepreneurship without quitting one's day job. It emphasizes that starting a business on the side is not only possible but can lead to success, as many entrepreneurs have proven. The speaker encourages listeners to begin their entrepreneurial journey today, even if it's just planning, and reassures that it's not necessary to leave their main job. The script also highlights the benefits of part-time business building, such as the ability to shift focus and gain inspiration from balancing work and entrepreneurial efforts. The Walsh Center for Innovation and Entrepreneurship is mentioned as a resource for support.

Takeaways

🚀 You don't have to quit your day job to start a business.
⚖️ Check for potential conflicts with your current employer before starting a side venture.
🌱 Entrepreneurial success often comes from working on a business part-time while keeping a steady job.
💡 It's possible to start building your company in your own time, such as evenings and weekends.
🌟 Many entrepreneurs feel they are always working on their business, which can lead to success.
🛠️ It's important to start your entrepreneurial journey today, even if it's just planning and visioning.
📈 Entrepreneurs often find inspiration in working on their business part-time, which can help with focus and scaling.
💼 You can work on your business while maintaining your main job, making it a 'both-and' scenario.
🏢 The Center for Innovation and Entrepreneurship at Walsh is available to help you start and grow your business.
💼 You don't necessarily have to make the decision to step away from your job to advance in entrepreneurship.

Q & A

Is it necessary to quit your day job to start a successful business venture?
-No, it is not necessary to quit your day job to start a business. You can build your company in your own time, such as evenings and weekends, as long as it does not conflict with your employment terms.
What should you do if your employer requires you to disclose a secondary business venture?
-You should work with your employer and discuss the situation if your day job requires you to disclose having another business or prohibits you from having one.
Why might working on a business part-time help it grow?
-Working on a business part-time can help it grow because it allows entrepreneurs to shift their focus between their day job and their business, which can provide fresh perspectives and inspiration.
What is the advantage of starting a business while still employed?
-Starting a business while still employed allows you to maintain financial stability and benefits from your current job while you test and grow your new venture.
How can you begin working on your entrepreneurial initiative without leaving your main job?
-You can begin by sketching out a vision plan, setting goals for the next 30, 60, or 90 days, and working on your business during your personal time.
What resources does Walsh's Center for Innovation and Entrepreneurship offer to help entrepreneurs?
-Walsh's Center for Innovation and Entrepreneurship offers support and guidance to help entrepreneurs start, grow, and launch their businesses.
What is the importance of having a vision plan when starting a business?
-A vision plan is important as it provides a clear direction and goals for your business, helping you to stay focused and measure progress.
How can you maintain motivation while working on your business part-time?
-Maintaining motivation can be achieved by setting short-term goals, celebrating small wins, and reminding yourself of the long-term vision and potential of your business.
What is the significance of the belief systems around money, possibility, and time in entrepreneurship?
-Belief systems around money, possibility, and time can influence an entrepreneur's approach to business growth. Positive beliefs can encourage action and innovation, while limiting beliefs can hinder progress.
How can you balance the demands of a day job with the effort required to grow a new business?
-Balancing a day job with a new business involves effective time management, setting clear priorities, and leveraging your personal time efficiently.
What is the 'both and' approach to entrepreneurship mentioned in the script?
-The 'both and' approach to entrepreneurship refers to the ability to work on your business while maintaining your day job, allowing for dual focus and growth without having to make an immediate choice between the two.

Outlines

00:00

🚀 Starting a Business Without Quitting Your Day Job

The paragraph emphasizes that aspiring entrepreneurs do not necessarily need to quit their day jobs to start a business. It suggests that many successful entrepreneurs have built their ventures while working on the side, using evenings and weekends. The speaker encourages listeners to begin their entrepreneurial journey immediately, even if it's just by sketching out a vision or planning the next 30, 60, or 90 days. The speaker also mentions the benefits of part-time entrepreneurship, such as the ability to shift focus between different aspects of life and work, which can lead to greater inspiration and success. The paragraph concludes with an invitation for entrepreneurs to reach out to the Center for Innovation and Entrepreneurship at Walsh for support in starting and growing their businesses.

Mindmap

Keywords

💡Entrepreneur

An entrepreneur is an individual who organizes and operates a business, taking on financial risks to do so, with the goal of making a profit. In the context of the video, the term is used to describe someone who is considering starting a business venture or has already begun one. The script encourages entrepreneurs to pursue their ventures without necessarily quitting their day jobs, highlighting the entrepreneurial spirit of building something on the side.

💡Business Venture

A business venture refers to a new commercial enterprise or project. The video script discusses the idea of starting a business venture and the common question of whether one must quit their current job to make it successful. It suggests that it's not always necessary to leave a day job to pursue a business venture, which is a central theme of the video.

💡Day Job

A day job is a person's primary job or occupation, typically a full-time position that provides a steady income. The script addresses the concern of whether an individual needs to quit their day job to focus on their entrepreneurial aspirations, suggesting that it's possible to balance both until the business is self-sustaining.

💡Disclose

To disclose means to reveal or make known information that was previously unknown or kept secret. In the video, it is mentioned that if an individual's day job requires disclosure of any secondary business activities, they must comply with those requirements. This term is important as it relates to the legal and ethical considerations of managing multiple professional commitments.

💡Entrepreneurial Thinking

Entrepreneurial thinking is a mindset characterized by creativity, innovation, and the willingness to take risks. The script implies that this type of thinking is often what drives successful entrepreneurs, as they are able to start and grow businesses while managing other responsibilities.

💡Venture

A venture in this context refers to a new business undertaking. The script uses the term to emphasize that one does not have to abandon their current job to start a new venture, and that many successful entrepreneurs have grown their businesses while working on them part-time.

💡Part-Time

Part-time work is when an individual works fewer hours than a full-time job. The video suggests that working on a business part-time can be beneficial, as it allows for a mental shift and focus on different aspects of life, which can contribute to the business's growth and development.

💡Vision Plan

A vision plan is a strategic document that outlines the long-term goals and objectives of a business. The script encourages the audience to start with a vision plan, even if it's just sketching out ideas, to begin the process of building a new venture.

💡Center for Innovation and Entrepreneurship

This term refers to a specific resource mentioned in the script, which is presumably part of Walsh University. It is a place that supports and assists entrepreneurs in starting, growing, and launching their businesses, indicating the availability of institutional support for entrepreneurial endeavors.

💡Both/And

The term 'both/and' is used in the video to suggest that it's possible to pursue entrepreneurship while maintaining a day job, rather than viewing it as an 'either/or' situation. It reflects the idea that one can balance multiple commitments and that entrepreneurship can be integrated into one's current lifestyle.

💡Leadership

Leadership in the context of the video refers to the ability to guide and direct a group towards achieving goals. The script implies that entrepreneurship can enhance one's leadership skills, as managing a business requires leadership to take the business and personal life to the next level.

Highlights

You don't have to quit your day job to start a business venture.

Ensure there's no conflict of interest with your main job before starting a side business.

Entrepreneurs can build their company during personal time like evenings and weekends.

Successful entrepreneurs often start their ventures while working a full-time job.

The entrepreneurial mindset allows for working on a business while holding a day job.

Many entrepreneurs feel they're always working on their business due to passion.

It's possible to step away from your day job when your business can grow independently.

Encouragement is given to pursue entrepreneurial initiatives without leaving your main job.

Starting a business can begin with sketching out a vision plan and thinking big.

Entrepreneurship can be pursued part-time while working full-time.

Belief systems around money, possibility, and time can be challenged in entrepreneurship.

Starting a business can be done now without waiting for the 'perfect' time.

Working on a business part-time can provide inspiration and a fresh perspective.

The ability to shift focus between a day job and a business can aid in scaling the business.

Walsh's Center for Innovation and Entrepreneurship is available to help entrepreneurs.

Entrepreneurship can be pursued as a 'both and' scenario, not an 'either or'.

Advice on how to take your life, leadership, and business to the next level.