You don’t really feel at home in your current job, and you’ve been thinking for some time about how you can pursue your passion. Then a great project idea pops into your head. You tell yourself that this is the perfect opportunity to hand in your resignation and set up your own business. But before you leap into the void, why not consider a side project? In other words, keep your current job while launching your own business on the side. Yes, there’s no point in acting like a hothead and abandoning everything overnight. It’s not a wise move, especially if you have rent to pay and several mouths to feed. The aim is to move forward slowly, but surely. Having a project on the side is the preferred alternative.

In fact, it may well be the first step on the ladder that will turn your idea into a big business? Discover our guide to developing your side project.

What exactly is a side project?

As you can imagine, it’s a side project that you undertake alongside your main occupation. It’s a sort of Plan B, should you ever run into problems with your current job. Please note that this is not a side hustle or side job to help you make ends meet and cover all your expenses. Having a side business is practically having your own project, your own business.

Today, side projects are of interest to a wide range of people. Corporate employees and digital nomads alike can consider having a side project. Many students also have their own project alongside their studies.

Some managers in different sectors include side business in their corporate culture. They leave their employees free to have their own side project, as long as it doesn’t constitute unfair competition.

Good reasons to launch a side project

Many entrepreneurs are actually salaried employees looking for an extra income. But having a side project goes far beyond a simple financial question.

Here are the reasons why you should develop your own business.

FINANCIAL SECURITY
Today, many people think they’ve chosen the wrong career and aren’t doing what they should be doing. The reason is that they’re working in a field they hadn’t necessarily thought of, or in a sector that has nothing to do with their studies. As a solution, these people are considering a career change. But before taking the plunge, it would be wise to at least have a side project to fall back on. This choice applies not only to those thinking of retraining, but also to all those intending to resign. Especially if you haven’t yet found a new position. Your project will save you money.

In short, having a project on the side means betting on security. Your personal business will ensure that you always have money to spare. If you launch your project and it succeeds, so much the better. Otherwise, you have nothing to lose, because you always have one card up your sleeve: your main occupation.

HAVE A SIDE PROJECT TO PRACTICE YOUR PASSION
Commute, work, sleep. That’s what life is like for many of us. A life sometimes monotonous and devoid of distractions because of work. In fact, it’s worth noting that most of us don’t necessarily enjoy our work, and do it for the sole reason that it offers financial stability. Even so, it’s a high-pressure situation. As a result, the worker runs the risk of becoming bored with his or her job.

To achieve professional fulfillment, these people can manage a side project related to their passion. This side project will enable the individuals in question to decompress, as it were. And they do so by doing something they enjoy.

DISCOVERING NEW HORIZONS
Having a personal project outside the office can open many doors. On the one hand, it’s an opportunity to meet new people and forge links with others who share your vision.

On the other hand, having a side business is an opportunity to develop new skills or improve your performance. In fact, to succeed in a side project, you may have to dabble in a number of potential areas, depending on your skills. As a result, you may be able to develop different ideas before finding the project of your dreams.

MAKING A LIVING FROM YOUR SIDE PROJECT
Once you’re sure that your personal business is viable, you can finally think about striking out on your own. This will be the perfect time to free yourself from salaried employment and focus fully on your small business.

Of course, there’s nothing to stop you keeping your full-time job and running your own business.

Side project: the limits of having your own tailor-made business

Working on a side business means having a tailor-made job, in the sense that you work according to your own rules. At first glance, it sounds perfect. But on closer analysis, running a side business is not all advantages. Here are the negative points to be aware of if you want to have your own side project.

RUNNING OUT OF TIME
Since it’s a project that runs in parallel with your main occupation, lack of time is the main obstacle to a side project. You’ll be juggling two professions. This can be a situation that will barely give you time to breathe, let alone have time for yourself. Your personal and family life will probably take a back seat. If you don’t want your professional activities to outright encroach on your private life, you need to learn how to be as efficient as possible in managing your time.

The ultimate solution is for you to find a part-time permanent job, so that you have more time to concentrate on your business.

HAVING A SIDE PROJECT CAN BE VERY STRESSFUL
You always have to give 100% in both your job and your personal activity. If you don’t, you may see a drop in your productivity at the office, which your superiors won’t like. As far as your side project is concerned, if you don’t get involved enough, there’s a strong risk that you’ll end up with an unviable project that has little chance of standing up to the competition. It’s a situation that can put you under great pressure and stress all the time.

NOT A BUSINESS FOR EVERYONE
Considering a side project is not for everyone. Here’s the ideal profile of someone capable of running their own business:

Confident: the individual must not be afraid of the unknown. Among other things, he must not be skeptical, otherwise his project will never see the light of day.
Responsible: since you’ll be working in parallel with a salaried employee, you need to know your priorities and how to optimize your time.
Ambitious: to develop your side project, you need to be motivated, even if it seems difficult alongside your main business activity.
Resourceful: your side project can only thrive alongside your current profession if you demonstrate ingenuity.
Reactive and proactive: time will be a real luxury for you. So don’t procrastinate.
Patient: for a side project to be successful, it will need time to develop.

The keys to launching and breaking into a side business

To get off on the right foot in the world of entrepreneurship, you’ll need an effective strategy. Here are the steps you need to take to create a successful side business.

START WITH WILL AND DETERMINATION
If you want to launch a side project, you first need to adopt an entrepreneurial mindset and be as motivated as ever. This will enable you to see your idea through to the end.

FIND YOUR SIDE BUSINESS IDEA
Your personal project will undoubtedly concern a field you enjoy and are comfortable in. To find the perfect project idea, you’ll need to identify your passions, then do a skills assessment.

Also, note that the best idea will be the one that sets you apart from the competition. So you need to be creative and imaginative.

FEASIBILITY STUDY FOR YOUR SIDE PROJECT
Does your idea look perfect on paper? Now it’s time to put it into practice. To do this, carry out a feasibility study:

Carry out a market study,
Draw up a business plan,
Conduct a public opinion survey.

DEFINE YOUR OBJECTIVE
Are you convinced that your project has a chance of success? It’s time to define your objectives precisely.

For example: how do you see your business in 3 months, 6 months, 1 year, 5 years? Having clear objectives will help you focus your actions.

SIDE PROJECT: PLAN YOUR SCHEDULE
This step is crucial, as it will enable you to optimize your schedule between your full-time job and your side business.

To manage your time well, draw up a list of tasks to keep you as efficient as possible. If you want to keep up with your new rhythm, you may need to think about changing your lifestyle altogether.

MARKET YOUR SIDE PROJECT
Test your idea by launching a kind of beta version. You’ll then record the public’s comments to improve your project.

SIDE PROJECT: CONTINUOUS LEARNING FOR FURTHER DEVELOPMENT
Even if you think you’ve already mastered your field, if you want to develop your own business, you need to be constantly learning. And that’s to come up with new ideas that will enable you to offer innovative services.

So read,
Take training courses,
Exchange with other entrepreneurs,
Attend conferences and trade shows.

There really is no shortage of ways to develop new knowledge. All the more so when you choose to learn in a new field that has been unknown to you until now.

MANAGE YOUR SIDE PROJECT WITH THE RIGHT PARTNER
Becoming an entrepreneur is no mean feat. It’s a job with heavy responsibilities. So, if you don’t want to carry the weight of your side project alone, surround yourself with the right people: your partner, family, friends or a few trusted colleagues in the office. Having said that, these people will also be able to steer the project with you and contribute new ideas. Having one or more people close to you to support you is sure to boost your motivation.

MAKE A LIVING FROM YOUR SIDE BUSINESS
Once your side project has reached a secure position, you can finally consider emancipating yourself from salaried employment to concentrate solely on your own star-up. It’s time to hand in your resignation to your entrepreneur, because you’re ready to take flight.

Launching a project alongside your main activity can change a person’s life for the better, as they gain self-confidence, become more responsible and adopt a positive mindset to always strive for the best. What’s more, launching and successfully running a side project can help a person to live a more serene life, as the pressure is taken off. Indeed, as Conficius so aptly put it: “Choose a job you love, and you’ll never have to work a day in your life”.

So, have you ever thought of working on your own project outside the workplace?