Karel Mc Intosh, Contributor

Holding down a steady job brings a sense of security; but sometimes it becomes boring for those who harbour the entrepreneurial spirit. You wake up in the morning, brew your coffee, and head to work, all the while trying to think of some great idea that you can translate into a business concept, so you can say goodbye to your regular job and head into the adrenalin-pumping world of self-employment and full-time leadership.

Affording entrepreneurship

Entrepreneurship is not easy or for the faint-hearted, especially if you're out to make a decent profit, after paying yourself, your employees, and your overhead expenses. It demands a lot of hard work, and the worry for the business' health is yours 24-7. Additionally, before taking that plunge, you need to assess your personal, financial needs. Depending on where you are at in life, you may still be trying to buy a car or a house. The reality may be that you need that 8-4 or 9-5 job so that you can pay your mortgage, university loan or car instalment, so you can't afford to start a full-time business just yet.

Another alternative may include careful planning so that you can afford to meet your personal needs while running your own business. It is also valuable to enquire about the various requisites from banks and other financial institutions about funding for your business or personal purchases. For example, a bank may be hesitant to enter into a normal lending arrangement with you for your first-time purchase of a house since your business has only just been established.

Contact other business persons who you know have gone through this process, and find out how they have been able to provide for their basic needs, while nurturing those of their business. Then there's the other matter of ensuring that you put aside some of your business' cash flow so that you have funds to dedicate to growth strategies.

Balancing acts

There really shouldn't have to be a choice between being an employee and freelancer or full-time entrepreneur. Fact is, some of us can't rid ourselves of the entrepreneurial spirit, but we do need the security of a standard, monthly salary. We are constantly scouring sites about business start-ups, successful business persons, or turning our hobby into a business. We get so consumed by this desire to be our own boss that we don't stop to realise that 'hey, I can have my cake and eat it too'.

Once you've decided to do private jobs or run a company part-time while holding the fort at your workplace, you've got to set some clear parameters about what you can manage, and where your commitment lies. Your first commitment should always be to your job - this is understood when you sign that contract. While you will also maintain a high level of service for your customers, in the midst of catering to your private clientele you have got to create a system that ensures that work - full-time and private - get proper attention. How?

Don't get caught up doing private work during normal working hours. Your first priority should be completing your tasks, and ensuring that your bases are covered. Meet clients outside of working hours; time management really plays a role here. Decide what resources you need. Do you need a car to zip around to meetings? Do you need a printer or hi-speed Internet at home? Do you need to set aside more money to make calls from your mobile phone? Then there's also the item of whether you need someone, such as an assistant, who will manage administrative tasks and ensure that business processes are handled on a daily basis.

Resist temptation

Ensure that the human resources policy at your workplace allows you to take up private jobs or run your own business. Whether it's a written policy or not, the expectation is that you will not choose private work or clients that directly conflict or compete with your workplace. This may mean less extra income, but it is better to maintain your integrity, because if you don't, at some point in time karma will come, and you run the risk of displeasing clients and your employer when they realise what's taking place.

Additionally, ensure that the confidential, competitive information that you gain in the workplace is not used to give you the edge for your business. Source the necessary intelligence you need on your own. Ethics plays a key role here as it may be quite tempting to use industry information - which you would not have gained otherwise - and use it to your advantage. This is not fair play, and it's best to resist this temptation.

Consistent performance

Nothing spreads word-of-mouth like great performance, and it doesn't just need to come from your clients. Some part-time entrepreneurs conduct their private business in the same field as their traditional career path.

For example, from 8.00 a.m. to 4.30 p.m., I am a corporate communications coordinator at a company, but outside of those hours I provide writing, online communications, media relations and other public relations services. I am also very active in my association, the International Association of Business Communicators, writing for their magazine and serving on the International Advisory Editorial Board. Therefore, what I do as an employee can well affect my referrals because then my boss and potential clients operate within the same circles, and there is the likelihood of a discussion about my abilities. Hence, it's never advisable to let your job suffer because of your extra-income activities.

Sustaining the spirit

Becoming your own full-time boss may not necessarily be very near in the future, but certainly you can start practising from now. An entrepreneurial spirit demands dedication and time management so that you can balance the needs of your workplace, your private business and your personal life effectively (never forget your personal life).

Therefore, you have go to make choices that will create the greatest good for all parties, and create a positive image within your network. Over time, the track record you set for yourself as an employee, and a part-time entrepreneur, will affect your reputation when you enter the land of self-employment on a full-time basis.

Karel McIntosh is a Trinidad-based communications professional, she balances work and her public relations consultancy with a dash of time management, spunk, and passion. Visit her at www.caribbeanprblog.com or email caribbeanprblog@yahoo.com.