Posted By:
Rieva
on
07-07-2009
I had to blink and look again when I read the headline of this Wall Street Journal article: Entrepreneurs Take Second Jobs to Stay Afloat. No, I wasn't seeing things.
Apparently, according to the newest American Express OPEN Small Business Monitor survey in April, 18 percent of business owners said they had resorted to taking a second job in order to make ends meet.
This doesn't mean they're giving up on their businesses, however. Quite the contrary. One entrepreneur told the Journal he had to stop paying himself a salary when his flower importing business's sales plunged 60 percent. But he still has household bills to pay, so he took a part-time job as a whitewater rafting tour guide.
For these entrepreneurs, the only alternative to getting a part-time job would be getting a full-time job and shutting down their businesses. They're not willing to do this.
But looking for a part-time job can be risky. Some of the entrepreneurs interviewed were networking with contacts to find work. But others were secretive, afraid of the impact on their companies if it became known they were seeking a job. I found it interesting that none of their part-time jobs in any way related to their businesses. And most of them were working very minimal hours on the side.
Still, how does this type of move affect your company? Can it hurt your image if clients or customers find out? Will people think you're less dedicated to your business? Will your energy be drained by the side job, leaving you less time to work on your business — and possibly hurting the very company you're trying to save?
These are tough choices and only you can make the call as to what's right for you. I'd love to hear what you have to say about this.
Would you consider getting a part-time job (or have you already)? If so, what are the challenges you're facing in balancing the business and the job?
Rieva Lesonsky