• If I keep my day job while I start my mobile car care business then I will have an extra cushion of income while I get my feet wet.  This income can really come in handy to help support me and my family as well as my business startup capital needs.

BUT…

• If I keep my day job while I start my business then when will I ever get any sleep?  Furthermore, if my attention and energy is spread too thin across both my regular job and my new business, I fear that I might fail at both.

Now consider the exact opposite scenario yet with a similar dilemma:

• If I quit my day job entirely and focus 100% of my efforts on building my business then I can reach my sales and profit goals much more quickly.  I will be more motivated to succeed since I only have one choice – to succeed!

BUT…

• If I quit my day job entirely and focus 100% of my efforts on building my business then I must be very careful on how I spend my money.  I won’t have income from a job to help support my family or the business while I reach the break-even point.

You have probably run through these scenarios at least a hundred times before.  It’s nothing new and we’re absolutely not trying to get in your head or psych you out.  What we are trying to point out, however, is the importance of spending time thinking through and planning your entry strategy for your new business. How will you make the successful shift from an employee to a small business owner?

If you can start your business slowly and put in 20-30 hours per week during the startup phase, we highly recommend keeping your day job while you build your business. Perhaps you can provide your mobile wash and detailing services in the evenings and on weekends.

Having the extra income stream from your existing day job will make things easier on your bank account and nerves. 

Based on your drive to start your own business, you probably are a very valuable employee.  Use this to your advantage!  If you feel comfortable doing so (and don’t risk getting fired), sit down with your boss and explain your situation.  Tell him or her that you are planning to start your own mobile car wash and detailing business.  Go into some of the specifics to show that you are serious.  Ask if there are any opportunities to work part-time while you try and get your business off the ground. 

Since you are valuable to your employer, any rational boss is going to do their best to keep you around as long as possible.  Keeping your existing job but working part-time could be the best of both worlds..  You will most likely get to keep your benefits and although your income will be reduced, you still will enjoy a steady income while you build your business.  Plus, working part time will free up valuable hours during the week that you can spend on your new business.

If you keep your day job while you build your mobile car wash and detailing business, you will need to determine the cut-off point when you will quit your job and move to your business full-time.  This cut-off point is typically after you prove to yourself that the business can support itself and your family.  Remember the SMART method for setting goals that we covered a few pages back?  This is a perfect tool to use to determine your cut-off goal. 

One of the absolute critical success factors we outlined earlier is having a supportive network.  This includes both family, friends and professional contacts.  If you are in a relationship, you have certainly discussed your business ambitions with your spouse or significant other.  It is probably time to have a heart-to-heart about your entry strategy and options to consider within the context of your relationship.

Another option to consider in your entry strategy is to quit your day job entirely and rely on your spouse’s income to cover personal living expenses.  This is certainly a great option assuming both of you are confident in your business endeavor and one income can support your family. Evaluating your personal finances is so critical before having this conversation so that you can answer the question, “How much do we need to simply live?”.

If you decide to live off of one income while you build your business, it is extremely important to show consideration to your spouse and find ways to constantly say “thank you” as well as lighten their load at home.  Perhaps you drop off and pick up the kids at school ever day.  Maybe you make dinner three times per week.  Simple things that you can do that don’t cost money but will show that you appreciate the sacrifices your spouse is making to help you succeed.

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