Starting a business is serious (you guessed it) business, so please take careful consideration before entering into any type of business venture! And since it is serious business, please read my beautiful bit of legalese before you dive into the post:

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Would You Raise Your Child Part-Time?

Raising a child and “raising” a new business share a number of similarities. Both can be emotionally, physically, and financially draining. But both can also be massively fulfilling and life-changing experiences. You try not to think about all of the “drains” when raising a child, because that’s your baby. You raise them because you love them and want them to have their best possible life. Same goes for a business. You raise it, and push its growth along because you love it, and want to see it blossom into a successful enterprise. So ask yourself this… Would you raise your child on a part-time basis? I’m hoping the answer there is a simple “NO.” OK, so why would you raise your business on a part-time basis? Obviously, the child analogy doesn’t apply to 100% of all circumstances, as there are times when it is appropriate to do things on a part-time basis. However, the comparison has held true for the entrepreneurs below.

Should Everyone Jump in Full-Time?

I’m not saying that everyone should jump into their business full-time. I simply wanted to take a look at the other side of the coin for this particular debate. When I was looking into starting my business, I could only find articles that talked about why you SHOULD start part-time. Hopefully the following will prove helpful for folks looking to find out some reasons why they might NOT want to take the part-time route.

Important Things to Consider…

Now I’m not sure if jumping into your own business full-time is appropriate for you, but it’s something that you should at least consider. You need to first look within yourself, and talk to that little voice inside of you. Do you have the cojones (ask a Spanish-speaking friend for the translation) and persistence within you to bring your vision to life? Do you really truly believe in your idea and its potential? Do you have enough money to buy food and toiletries (true story) for the next 3-6 months while you get your business off of the ground? These are all very important questions that you should fully address before making any type of potentially life-altering decision.

Don’t just take my word for it though. Take it from these other folks who have already been there and done it before. Starting a business part-time was NOT the way to go for them. You won’t know for yourself unless you sit down, look within yourself, and reeeeally think about it…

Fourward LLC is not affiliated with the following individuals.

Not Enough Time in the Day
I’ve started five businesses over a commercial career lasting 40 years. All five businesses had this in common: Determining the viability of each required an 18 hour business day. Owners who think they can devote less time to a new venture are unaware of what it takes to create and carry through with the actions that produce sales leads, publicity, open new markets, implement systems, train staff and capitalize on the technological advantages required to succeed in today’s business environment that favors buyers, not sellers.
-Michael Grossman: Owner of My Green Mind

Your Current Employer Might Own Your Ideas
If your new business is at all connected to your current employment the ownership of anything you develop will be in question. Imagine working for a year part-time developing your new start-up, just to find that your current employer tells you they own it all, when you go to quit. Ensuring that any intellectual property you develop for your own business remains with the business can be tricky, and expensive. So unless your new idea is completely unrelated to your current employer, I would generally recommend that you do not work in parallel for an employer and yourself.
-Judith Szepesi: Patent Attorney, BST&Z LLP

Success is a Matter of Extreme Focus
I think one of the top reasons not to go part-time is that it is very difficult to divide your time & thoughts between your day job and your new venture. This is especially true if you have a demanding career that can take 50-60+ hours a week on its own. You can also lose the support of your family if all of your off time is spent working on your new venture.
-Ken Price: ShopWatchBuy.com

Customers Need You
It should seem obvious, but you probably won’t notice this problem as a part-timer because it will “magically” go away on it’s own. The problem is that if you are not easily available during business hours, your company is just NOT going to grow. It can’t. No matter what industry you’re in, your customers will have questions, want to place orders, and will need follow-up. If you’re away during the times when your customers need you, they will simply go elsewhere. Ironically, you may see this as proof that your “part-time” business isn’t ready to support you full time. The reality is that you never gave it a chance. -Mark Hunter: Founder of FlipScript Ambigram Products

Your Commitment Shows
Starting and building a successful business takes a lot of energy. Your commitment must be high and your focus must be total. Anything less will show up in customer-service lapses and quality problems. Your customers can tell the difference. You can still prepare before you begin. And once you’re established, you can let-up a little. But if you’re serious about starting a successful business (not a hobby), give it everything you’ve got.
-Harry Liebman: CandyTorahs.com

You Might Turn Investors Away
In our work with innovators and start-ups, we see that there is often a need for outside capital for the business to grow. Investors want to see that the leaders have both feet in the company. If it’s a part-time effort that they aren’t wholly committed to, there is no sense lending or investing money. They aren’t going to get any serious funding to take the business to the next level.
-Jeff Lindsay: InnovationEdge.com

If You Don’t Take Yourself Seriously, No One Else Will
I have told myself the preceding statement for years as a writer, editor, and a young author of Frommer’s travel guide, and again as a new entrepreneur. You need to see yourself as a business owner before other people can see you as one and work with you as one. Part-timers will find people treating their venture as a hobby instead of a new career. Full timers will hold themselves to the seriousness of their start-up with nothing holding them back. It will not be easy, but if you take it seriously and commit to it, you will reach your goals one by one by one.
-Lisa Marie Rovito: Founder, Orange & Blossom

One Word: Motivation
You’re much more likely to overcome the inevitable obstacles and achieve your goals when you don’t have the safety net that a full-time job usually provides.
-Scott Swanay: President & Chief Sherpa, Fantasy Football Sherpa

Part-Time Business = Part-Time Results
A “part-time business” will likely drive “part-time results”. When I started my home-based business part-time while working a full-time job, I got minimal outcomes because my efforts were limited due to time and energy constraints. Once I made the decision to “jump right in” and turn my part-time efforts into a full-time venture, my business took off and so did my fun factor!
-Dez Stephens: Personalized Parcels

You Might Appear Unprofessional
If you only work part-time, you can look unprofessional, unseasoned and unreliable – be there in a full-time, “ready-to-serve” capacity.
-Cynthia McKay: CEO of Le Gourmet Gift Basket, Inc.

Networking is a Must
Businesses that aren’t internet-based often require serious networking and face-time to build a client-base. In order to attend industry events, take prospective clients to lunch or drinks, participate in webinars, network on Twitter and, perhaps most critically, prepare our walkie orders myself to ensure accuracy and excellent presentation, I had no choice but to commit to WY20 full-time.
-Sherri Haymond: Founder, What’s Your Twenty, Inc.

Your Full-Time Job Might Suffer
When you’re at the full-time job all you will be doing is thinking about your own business, and how you would rather be doing that than your current job. This will have a direct negative impact on your current work, and you will be letting your boss down along with your fellow workers. You would be better off doing your own thing and giving that 100%.
-Timothy A. Wilson: Founder, T.A. Wilson & Associates

Sink or Swim Mentality
Running a successful business is a full-time job. You must be totally committed to doing everything possible to make it work. If you keep your day job you’re hedging your bets and don’t have that sink or swim drive to make a go of it. Step off the cliff and grow your wings on the way down. That’s the entrepreneurial spirit.
-Rebecca Staton-Reinstein, Ph.D.: President, Advantage Leadership, Inc.

Flexibility to Explore Your Options
So I’d say the best reason to jump in full-time is so you can explore opportunities that may (and will) arise. Entrepreneurialism requires acting quickly and being ahead of the market. It’s hard to do that if your business isn’t your first priority. I recommend people make paying the rent a side project so you can focus fully on launching your business. It’s the best way to get off of the ground.
-Mark Briggs: CEO, Serra Media