Home – New Forums Starting your journey Does having a part-time job harm your business?

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  • #964046
    Jay_i
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    What do others’ think of this perception?, does having an extra job outside your business harm your credibility?
    Thanks!

    #1002586
    Past-Member
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    As long as you declare it and pay your tax, it shouldn’t be a problem. I used to teach a few hours at TAFE for the same reason and as a sole trader had to declare my income at the end of the year with my business earnings. My accountant didn’t have any problem as I paid tax at the higher rate anyway with TAFE (so it was like putting extra tax away), and I put money aside for PAYG for the business.

    I definitely don’t think you have to ‘review your priorities’ because you are doing what is working best for you to ensure an income. I think you are being sensible and you sound to me like you are very committed to your work.

    The only problem that I know of now is that your ‘outside employment hours’ are supposed to be only 10% if you wish to add to your own superannuation. I had no superannuation of my own till about 5 years ago when I began putting small amounts away – and I have to sign each year that I am not working for someone else more than 10% of my income in order to claim my payments.

    (From what I’ve observed with both myself and my husband – who is long past retirement age but has to continue working – having an investment in shares would have been a better option than having a little superannuation – but that’s another story.)

    #1002587
    Lisa Murray – Biz Coach
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    Hey Jay
    This is the era of multiple streams of income. If a client questioned me about something like that I would direct the conversation back to the service I had provided them – were they happy, was there anything they were concerned about in relation to the actual service etc…

    How you choose to live your life and manage your income sources is not your client’s business as long as you are delivering what you have promised them!!

    Sometimes it is not so much a leap of faith as a leap of stupidity…you’ll know when the time is right to make the leap – leaping too soon and coming across as needy and desperate (ie having no choice about the work you accept) is a much worse option in my opinion!!

    cheers
    Lisa

    #1002588
    Warren Cottis
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    Business is like Monopoly.

    When you are out of cash the game is over.

    You will serve yourself better as an entrepreneur if you don’t worry about what these people think.

    You might need a new mentor who lives in the real world though.

    #1002589
    LeelaCosgrove
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    I have worked with people who have full time jobs and I DO find it an issue.

    I don’t want to contact people outside of business hours – I want to be able to talk to them when I want to talk to them. I don’t want to wait hours for them to return emails and if I need a rush job done … or even just information … having to wait until outside of business hours to do it.

    I understand that some people need to feel secure … HOWEVER – if your number one priority is security, you might need to have a think about whether entrepreneurial endeavours are for you.

    If you’re waiting for the ‘right’ time to leave your job – to take the plunge – you’ll be waiting forever.

    I suppose there is an argument for being ‘smart’ about it – but as someone who threw in my job and just did it, let me tell you … there is NO impetus like burning your bridges to ensure that you make a success of things.

    #1002590
    kathiemt
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    If you were servicing other clients during the time that you are working a part-time job, would your client have an issue with that? The reality is that you should be in control of your time and as long as you meet your client’s deadlines and can complete what is required of you, then what you do with the remainder of your time is your business.

    I’ve had clients who have wanted me to be available at their beck and call for what seems like 24 hours a day, 7 days a week. Two of them were men and I actually said to them (guess it was rather cheeky of me but hey, I did it anyway!) that I would sit and twiddle my thumbs all day if they want to pay me for 40 hours a week. One left me and went elsewhere for his work to be done (it wasn’t a lot anyway so I didn’t miss it) and the other backed down and apologised and said he knew he was demanding and I was right to put him in his place :-) He also told me to remind him if he forgot himself again. He was always willing to pay for my time and never left me waiting – he truly appreciated my services and the time I gave to him. Sadly he passed away a few years ago, he was a good client.

    I never tell my clients what I’m doing with my time, I just let them know when I’m available and if I can meet their timeframes. I haven’t yet bumped into one of them when I’ve been out shopping in the middle of the day, but I guess that could happen one day too, couldn’t it?

    #1002591
    Jay_i
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    KarenC, post: 1551 wrote:
    As long as you declare it and pay your tax, it shouldn’t be a problem. I used to teach a few hours at TAFE for the same reason and as a sole trader had to declare my income at the end of the year with my business earnings. My accountant didn’t have any problem as I paid tax at the higher rate anyway with TAFE (so it was like putting extra tax away), and I put money aside for PAYG for the business.

    I definitely don’t think you have to ‘review your priorities’ because you are doing what is working best for you to ensure an income. I think you are being sensible and you sound to me like you are very committed to your work.

    The only problem that I know of now is that your ‘outside employment hours’ are supposed to be only 10% if you wish to add to your own superannuation. I had no superannuation of my own till about 5 years ago when I began putting small amounts away – and I have to sign each year that I am not working for someone else more than 10% of my income in order to claim my payments.

    (From what I’ve observed with both myself and my husband – who is long past retirement age but has to continue working – having an investment in shares would have been a better option than having a little superannuation – but that’s another story.)

    Hi Karen

    Thanks very much for your advice and suggestions. Yes, I do declare and pay tax on those odd casual jobs, so that’s no problem at all. Your superannuation information was interesting to consider too, I will look further into that.

    Many thanks
    Jay

    #1002592
    Jay_i
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    • Total posts: 29
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    Lisa Murray – Biz Coach, post: 1557 wrote:
    Hey Jay
    This is the era of multiple streams of income. If a client questioned me about something like that I would direct the conversation back to the service I had provided them – were they happy, was there anything they were concerned about in relation to the actual service etc…

    How you choose to live your life and manage your income sources is not your client’s business as long as you are delivering what you have promised them!!

    Sometimes it is not so much a leap of faith as a leap of stupidity…you’ll know when the time is right to make the leap – leaping too soon and coming across as needy and desperate (ie having no choice about the work you accept) is a much worse option in my opinion!!

    cheers
    Lisa

    Hi Lisa

    Thanks for sharing your good ideas. Iagree with everything you said, and thank you about the ‘Leap of Stupidity’ comment, I believe clients can smell and see desperation a mile away, and its not a good look!

    I feel much better now about my approach, as you say, as long as my ‘other’ job doesn’t interfere with my business, it should work out fine.

    kind regards
    Jay

    #1002593
    Jay_i
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    • Total posts: 29
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    warrenc, post: 1558 wrote:
    Business is like Monopoly.

    When you are out of cash the game is over.

    You will serve yourself better as an entrepreneur if you don’t worry about what these people think.

    You might need a new mentor who lives in the real world though.

    Hi Warren

    Your post made me laugh! Because its true!! And, yes, I do often place too much importance on what others’ think, so I will take your advice onboard. I also agree on the mentor review too. I don’t think its really working out for me and she is also not as available as I’d like either.

    Anyway, thanks for your time.

    Kind regards
    Jay

    #1002594
    Jay_i
    Member
    • Total posts: 29
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    LeelaCosgrove, post: 1561 wrote:
    I have worked with people who have full time jobs and I DO find it an issue.

    I don’t want to contact people outside of business hours – I want to be able to talk to them when I want to talk to them. I don’t want to wait hours for them to return emails and if I need a rush job done … or even just information … having to wait until outside of business hours to do it.

    I understand that some people need to feel secure … HOWEVER – if your number one priority is security, you might need to have a think about whether entrepreneurial endeavours are for you.

    If you’re waiting for the ‘right’ time to leave your job – to take the plunge – you’ll be waiting forever.

    I suppose there is an argument for being ‘smart’ about it – but as someone who threw in my job and just did it, let me tell you … there is NO impetus like burning your bridges to ensure that you make a success of things.

    Hi Leela
    You have raised some great points thank you. I guess the security thing is an issue for loads of people starting out. I am not totally hung up on it, I am just a realist, it doesn’t take long to sail through money rapidly and I guess the odd casual job is just a buffer zone, but it does not have my full focus, my business does.

    When you took the plunge and left, had you planned your exit and saved heaps of money to get you through the inconsistent income period while you were starting out? How did you manage the process? I am keen to know if you have any ideas to share. Did you do it on your own?

    I totally agree with your statement “there is NO impetus like burning your bridges to ensure that you make a success of things”.

    Thanks for your advice and ideas. I will look forward to hearing from you again.

    Thanks
    Jay

    #1002595
    Jay_i
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    • Total posts: 29
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    kathiemt, post: 1578 wrote:
    If you were servicing other clients during the time that you are working a part-time job, would your client have an issue with that? The reality is that you should be in control of your time and as long as you meet your client’s deadlines and can complete what is required of you, then what you do with the remainder of your time is your business.

    I’ve had clients who have wanted me to be available at their beck and call for what seems like 24 hours a day, 7 days a week. Two of them were men and I actually said to them (guess it was rather cheeky of me but hey, I did it anyway!) that I would sit and twiddle my thumbs all day if they want to pay me for 40 hours a week. One left me and went elsewhere for his work to be done (it wasn’t a lot anyway so I didn’t miss it) and the other backed down and apologised and said he knew he was demanding and I was right to put him in his place :-) He also told me to remind him if he forgot himself again. He was always willing to pay for my time and never left me waiting – he truly appreciated my services and the time I gave to him. Sadly he passed away a few years ago, he was a good client.

    I never tell my clients what I’m doing with my time, I just let them know when I’m available and if I can meet their timeframes. I haven’t yet bumped into one of them when I’ve been out shopping in the middle of the day, but I guess that could happen one day too, couldn’t it?

    Hi Kathie

    That’s really good advice not telling my clients what I do with my time…… it becomes a bit tricky when they become friends though……I have to learn to bite my tongue and not tell all.

    Totally agree that as long as I deliver to deadline, what is the issue? In saying that, after this experience if I pick up any extra casual work I will try to keep it very discreet indeed to avoid further complications.

    Your client sounded lovely, thanks for sharing the story and thanks for your time.

    Kind regards
    Jay

    #1002596
    Elizabeth1
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    Hi Jay,

    I’ve kept a part-time job (quit my main job) when I started up my own business in March last year. It has sometimes been an issue with receiving phone calls/emails but nothing that has driven me to distraction or driven away a client! I think most clients know that you can’t always be at your desk waiting for their call, even if you are running your business full time.

    The main thing I enjoy about working for someone else is the interaction with lots of people that I don’t get at home. Having said that, I can understand the criticism that I am just using the job as a security blanket so I don’t have to throw heart and soul into the business – it does take away your focus fro your business. I guess you have work out the pros and cons for your situation, which is something that noone can do for you.

    And sometimes it works both ways – my boss is also a client of mine :)

    Take care and do what’s best for you!

    Elizabeth
    Design Spring

    #1002597
    Burgo
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    Hey hey, your part time job brings in the dough ray me

    The solo bit is your hobby. Let the hobby build slowly then if and when you see the need make the hobby your part time job.

    Cant see a problem with that, and yes change your mentor

    #1002598
    Jay_i
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    • Total posts: 29
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    Burgo, post: 1614 wrote:
    Hey hey, your part time job brings in the dough ray me

    The solo bit is your hobby. Let the hobby build slowly then if and when you see the need make the hobby your part time job.

    Cant see a problem with that, and yes change your mentor

    Hey, hey back at you Burgo!

    Thought provoking! thank you. Oh yes, I agree to change the mentor. This is now my next change. Your advice is appreciated.

    My business has provided me with a decent income and supported me now for 12 months………. not bad huh?, My part-time/casual jobs when I choose to take one, which is every few months or so, just gives me ‘bread and butter’ cash weekly, I like to have the extra bits here and there, when I am chasing up money owed as I am learning how to deal with this process of chasing $ as a newbie. But, as I have learnt from all of you here, there comes a time to make a total break……

    Thanks for your support. Will keep you posted.

    kind regards
    Jay

    #1002599
    Jay_i
    Member
    • Total posts: 29
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    Elizabeth, post: 1608 wrote:
    Hi Jay,

    I’ve kept a part-time job (quit my main job) when I started up my own business in March last year. It has sometimes been an issue with receiving phone calls/emails but nothing that has driven me to distraction or driven away a client! I think most clients know that you can’t always be at your desk waiting for their call, even if you are running your business full time.

    The main thing I enjoy about working for someone else is the interaction with lots of people that I don’t get at home. Having said that, I can understand the criticism that I am just using the job as a security blanket so I don’t have to throw heart and soul into the business – it does take away your focus fro your business. I guess you have work out the pros and cons for your situation, which is something that noone can do for you.

    And sometimes it works both ways – my boss is also a client of mine :)

    Take care and do what’s best for you!

    Elizabeth
    Design Spring

    Hi Elizabeth

    Oh that’s comforting to know that you did the same too. I think it makes sense as a starter, but we all need to have that definitive break away point and work towards making the business happen. I agree the email and phone issues – (ie) not always being able to answer asap or return calls/emails poses a problem. I am totally conscious of this. That’s why the external work I do, is fairly flexible and I can answer calls etc…….

    I also agree with the benefits of having those social encounters. These situations keep me real, and also provide me with further ideas for my business and more importantly identify the ways I do not want to conduct business. In a world where businesses spray ethics and values around like reticulation and never live them, I am learning about what not to do unless you intend to deliver, and be who you say you are.

    Hey, cool boss! Lucky you!

    Thanks for your time

    Jay

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