It is quite uncommon here in the Philippines to see employees being employed by two jobs… But abroad, it is quite common to hear that someone is having a second job. Here it the Philippines, it is more common to have a side-line or part-time rather than taking on two jobs and be an employee for two companies.
A valuable lesson i have learned from the past ten or so years in doing a part-time or side-line business, is that it would be better to start a business while being employed. This would allow aspiring businessmen to provide a stable income and at the same time make money from the part-time or side-line. Having a full-time job provides you with a safety net. You can develop your plans, learn some new tricks of the trade in your new business, and test your new business concept – all while getting a steady income from your employment.
We know a lot of people have handled a part-time or side-line business while working on a job full-time. As observed, they have followed some guidelines so they have harmoniously done two things at the same time. Having read in another article, these simple rules should also be followed: treat your employer with respect, honor your commitments, and be fair. There are also other things that have to be considered in having a business while being employed:
Does your job allow you to do business?
To be sure you won’t have any problems in running your own business while being employed is that first, you have to determine if your job will allow you to do it. There are some companies that prohibit their employees engage into business while being employed in their institution. Some do allow and encourage their employees to engage into business while being employed. So, it would be better to know if your current job will allow you to do so. You have to make sure you have reviewed the company’s employee’s handbook just to be sure you are not violating any rules and policies of the company. It is also important to review the terms and conditions of the employment contract particularly in the confidentiality clause and the use of resources of the company. Mostly they are the ones taken for granted and becomes the cause of problems with your business and your status as an employee. It would be very hard to operate and business and be employed if there are complications along the way.
It is also best that you consult an professional HR practitioner or maybe even a lawyer before starting your business while being employed. It’s better to be safe than be sorry in the future. It may sound expensive for a startup, but, if there would be conflicts or complications with your current job and your new business, it would be more costly to resolve than getting professional advise at first.
Don’t compete with your employer
It is very obvious, it is unethical to compete with your employer, whether directly or indirectly with your employer. This does affect your professional reputation permanently and the cost of having being in trouble with your employer would be a serious legal consequence. Most employers would not hesitate getting rid of you or maybe even get into a legal battle with you. If the business you have in mind would be directly competing with your employer, and you are sure of being successful at it, it would be better to resign. Just make sure that you won’t be violating any terms and conditions in your quit claim or in your contract. Some clauses in contracts would bar you to be engaged in a similar business as your employer.
Run the business during your free time and outside your working hours
It is ideal that you run your business at your own time. Remember that you are being paid by your employer to be focused on the job that is given to you. The simple rules apply here: treat your employer with respect, honor your commitments, and be fair. If your work requires you to be at a specific time, place, and do specific functions, be there 100%. Keep in mind always that your employer pays for you and you wouldn’t want to put that in jeopardy, unless there is an agreement that allows you to do so.
On a regular workday for example, you are to be in your place of work by 8:00 AM and leave by 5:00 PM, you should be operating your business outside of those hours. You have to make sacrifices by getting up early or stay up late to do some tasks for your business. At times, especially when you are starting a business, it would require you to be there during your office time. This would be very challenging. If you have to attend to something for your business during your workhours, it would be better to do it during your break times. Also, it is best to handle your business matters outside your place of employment.
Don’t use your employer’s office and equipment
Your employer’s place of business is theirs and not yours. Even if it is outside business hours, it would be better to do it outside. You should remember that your employer may claim what you have developed for it was done inside the premises of his place of business. This also applies to the equipment that you use like the company’s laptop or computer, telephone or mobile phone, software, etc. Again, this is a precaution that can be valuable when the time comes. It would be better to do it at home or another place where you feel it is safe to run your ideas and your new business.
Be sensitive and know when to quit
Running a business while being employed takes a lot from our energy, time and resources. It is quite difficult to do it at the same time and may cause exhaustion if done for a long time. When the business is growing, it would be requiring more of your attention and it might affect your current employment. The attention you might be giving to your current job is declining and it would be unfair with your employer who pays for your services by what was agreed upon. By the time that the business is growing, it is advised that you have to weigh things up. Knowing when to quit your job and be focused on your business full-time takes a lot of consideration. Quitting soon may lead you to financial failure, waiting too long may lose some opportunities.
If you have the funding, leave your employment once your business is on track and making money. New businesses are unpredictable, sometimes you would hit a jackpot and sometimes you get zero, and it may be very difficult. It is best that you quit when your business is generating an income that can replace your salary. This has to be remembered and a lot have made mistakes by leaving the job too soon.
Local Mom and Dad Business Movement will be conducting seminars and programs very soon that would help you out when starting your own business. Advising and mentoring by professionals will be some of the services to be offered to mom and dads who would wish to start up their own business. We hope to see you soon and let’s support local mom and dad businesses in your community