Introduction
In this article, we will see how one can start a part time business. The aim is to show you the way and help you select the right business. For detailed information on each part time business I mentioned here, you can write to me. I will share you the problem statements, the investment required, and the process, I promise to get back in a week or two.
Many of us think the comfort state of life prevails for a very short period, and lucky are those who get it forever or for a prolonged time. I think those who invite new challenges during their “comfort state” of life, have a high chance they are falling into that lucky group. Basis this I think the most ideal time to start a business is during the time of those “comfort states” of life (Both financial and mental), though the comfort state of life prevails for a very short period one should not miss the bus. If you are in such a state of life start a part time business or a side hustle immediately.
The working professional who wants to be an entrepreneur must not let go of this opportunity, but in a dismal statement, I must say that most of us cannot even think of taking an additional challenge during that comfort state of life. Yes, this is human nature, but those who take challenges succeed.
Nonetheless, I am not countering any enterprising endeavors taken during hard times, but hard times are themselves challenges, so, one gets an additional burden. That is the logic, I tried and failed miserably, and have seen friends failing due to the same reason.
How can one identify the “comfort state of life“?
I will evaluate this from an entrepreneurial perspective. Let’s go step by step.
1. When your liabilities are less than one-fourth of the current net value of your assets.
2. When you see no scope of heavy financial outflow in the coming two/three years.
3. When you see that you have been leading a 9-7-8 hrs life and see no scope to get that disturbed due to any elements of your current professional and personal life. (9 Hrs to work, 7 Hrs to sleep, 4 Hrs Personal, 4 Hrs to new assignment)
4. That’s all (We cannot predict destiny so, be mentally ready to accept anything that comes across be it an accident or fortune)
What business to start as part time business?
Now the question comes, what business can be done by giving 4 hours daily? I shall list a few part time business which you can easily start and shall make two groups. one who has investment capacity and who has not.
Check home-based business ideas here.
Check online business ideas here.
Check small business ideas here.
If you have investment capacity [5 lakhs INR +] for a part time business.
- Start a drop shipping business.
- Start a marketing company through White label sourcing.
- Start a marketplace listing (product selling on different e-commerce sites)
- Start any hobby-based business [Like a Morning/Evening gym or a nursery]
- Production house which can operate at night or in a shift like a cap making, handkerchief making, etc.
- Planning & consultancy, digital marketing business.
- Home-based productions like soap, pickles, candles, and artwork
- Night taxi
- Evening snacks outlet
- Tutorial or coaching center
If you do not have enough money to invest or do not want to risk much on part time business.
- Blog writing /Vlog [Morning & Evening] [I fall in this group]
- Proofreading [Morning & Evening]
- Photography [Morning & Evening]
- Selling online through an online company’s fulfillment center [Buy goods in bulk at wholesale price and send them to an online marketplace warehouse, they will manage orders, packing, and delivery. E.g. FBA]
- Online/Offline teaching, sports instructor, cooking class, bakery class, music class, etc.
- Digital marketing as a freelancer
- Home-based productions like soap, pickles, candles, and any artwork or handicraft.
- Selling 2nd Hand stuff in OLX/QUICKER [Buy on Sunday and sell during the evening]
- Bookkeeping [Team up with accounts guys and do Invoice Entry/GST/Tax/Compliance filing].
- Emergency utility service [ Night Plumbing/Electric Service- Employ part-time skilled people, propagate your service and contacts in the locality]
Important things to remember before you start a part time business.
I know a question will arise in your mind, the above business ideas are plenty on the internet, yes that I agree but what I have tried to explain here are that correct timing, appropriation, and trying to give clarity to who can do what. Hope you will agree with this logic.
If you are convinced and ready to adapt the concept, my sincere request to you is to do proper market research, plan, and then execute. Please deploy capital and time as per your risk appetite but not at the cost of your family’s happiness and your current means of livelihood.
I hope you have liked the part time business I proposed here. I will be very happy to assist you in case you need planning or require validation of a business idea that you already have. Please write to me without any hesitation, but I will prefer to keep the interaction over mail only.
Best of luck!
