After 25 years in Corporate America, I dreamt of what else life had to offer. Corporate America has stability, benefits, and clear career paths. Yet, the enterprising spirit within me yearned for something more - freedom, impact, and the thrill of building something from the ground up. But taking the leap to full-time entrepreneurship is daunting. So, what if I could have both?
I, like more and more individuals, chose to pursue my entrepreneurial dreams while maintaining my day job in Corporate America. I did some research and decided on a franchise opportunity, Accelerated Waste Solution (AWS). AWS is a waste management company that supports the multi-family market. I chose this opportunity because of the business model and support offered by the franchiser. The prospect of starting my own thing was exciting but this hybrid approach came with a boatload of things that I may have underestimated. It was easy for me to see the upside but found the dark side the hard way. I would like to share my experience so maybe it can help someone else make their decision. Here are some of the reasons I decided to take this approach.
My #1 reason was the ‘Safety Net’. Keeping my full-time job provides financial security and valuable benefits like health insurance. This buffer allows me to test the business waters with less risk and gives me time to build momentum before going all-in. AWS did not require a major investment to get started and I was applying a tested business model.
Reason #2 - Learning and Expertise. My corporate experience equipped me with valuable skills and knowledge that is transferable to my business. My full corporate career is in finance and providing advice to commercial operations as a consultant. This gave me a bit of a step up with understanding how to set up my books and documenting my localized operation procedures. After 10 years in the waste industry, AWS was able to support with industry background that was new to me.
My third reason – ‘Flexible Schedule.’ Balancing both commitments requires juggling, but it can also offer flexibility. I use my evenings and weekends to build my business and plan my schedule based on my job needs versus my business priorities. On my slow periods at one, I can spend more time on the other and I had the additional support of the business model and the AWS Customer CARE center. Potential customers would always have someone available to answer their questions, even when I was not available.
Reason #4 – ‘Reduced Financial Pressure’. Having a steady income allows me to reinvest profits back into my business and reduces my reliance on external funding, like loans. This helps me pace my growth and maintain ownership control. Of course, there are additional costs associated with purchasing a franchise but there is also a community to help work through hiccups and new challenges.
My final reason – ‘Testing the Waters.’ This approach lets me validate the business idea in a real-world context while gathering valuable customer feedback before fully committing. AWS was a proven idea that could be executable as a semi absentee owner. And the perfect solution to transition at some point away from my job.
I have shared the upside and so now it is only fair for me to tell you about the downside, #1 the time constraints. Dedicating myself fully to both endeavors IS incredibly demanding. I often must work long hours, I battle burnout, and often must sacrifice my personal life. I must carve out time for self-care and mental health, but it is hard to shut off.
#2 - Divided Focus. Balancing priorities effectively is challenging. I struggle to give my full attention to both my day job and my business without impacting performance in both areas. I used time blocking to give me the space I need to be my best and focus on one or the other,
#3 - Limited resources: Balancing finances between my living expenses and business needs has had a few tricky moments. I bootstrapped my business, which has limited my investment and growth potential.
There are other considerations for doing both like potential conflicts of interest or ethical concerns and missing opportunities for promotions or professional development. There is not a direct relationship between my day job and my business. This all but eliminated a conflict that would cause me to use my company’s resources for my personal venture or create an ethical concern. I, also, have been transparent and disclosed to my employer my ownership in the franchise and as a leader in my organization and my partnership with AWS, I have not had to miss chances for professional development.
The decision to pursue an entrepreneurial dream while working in Corporate America is very personal. For anyone considering this for yourself, be sure to consider the pros and cons carefully, consider your individual circumstances, and do your best to create a realistic plan. Research, seek mentorship, and try to be prepared for the challenges ahead because there will BE challenges. I am still working through mine, but I do not regret making it. Remember, the journey itself can be incredibly rewarding, regardless of the outcome.
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