It’s not unusual for people to ask, “Can I grow a business on the side while keeping my day job?”
The answer is, “Yes,” with this important qualification — it needs to be a semi-absentee business. So, what is a semi-absentee business?
In businesses typically fall into two general categories — those that require full-time commitment from the owner and those that require part-time (or semi-absentee) commitment from the owner.
In a semi-absentee ownership situation, you hires a manager to oversee the daily operations
When searching for a semi-absentee business, there are four important factors into consideration.
Many people make the mistake of selecting based on what the business does, what the person likes or where their passions lie. It’s important to understand if a business is actually structured to be semi-absentee. If your heart is set on having an home improvement business, you’ll find that this type of venture lends itself to the owner-operator business model, requiring full-time commitment from the owner. Keep an open mind when looking for a semi-absentee opportunity.
Your financial situation is an obvious factor that determines the type of business you can afford (or for which you qualify). Since semi-absentee businesses tend to be retail, you might consider financing through conventional or Small Business Administration (SBA) loans, once the business is running sustainable mode you can take a non conventional business loan http://www.AHRcapital.com
People management skills are key to successfully operating a semi-absentee business since you will be providing oversight to a manager or managers if you have multiple locations. You need to be comfortable surrendering control and delegating the day-to-day operations of your business to the manager(s).
To your success