Starting a business from scratch is a total risk. Not only does it require a great deal of your time, it isn’t a guarantee if your startup will last or not. It’s always a good option to continue your regular job and work for the settlement of a side business all along. However, that comes with some risks of its own. For example, what if your boss spots you working for your business. Will he fire you?
Your first choice is to make sure there is no such company policy that may get you fired for working on your side business. Some companies have strict policies regarding this issue and may have given details about it during employee interviews. In case you weren’t given any such warnings, stay on the safe side and read through your contract. You may also reach out to any appropriate person in your firm who could give you related information.
Agreements as an employee
Most firms get employees to sign agreements at time of hiring. These include all firm policies. A part of this agreement will have the policies about what could get you fired too. Make sure to look through this section. Thoroughly understand every point so that your job can stay secure while your business stands strong. You don’t want to lose your financial support during such a time when you’re already financially drained from investing in a new business set up.
Maintain confidentiality of your existing firm
Every company has some confidential facts that aren’t open for the public. This may also include intellectual data. Usually, the employees are aware of these facts. Sometimes, this data includes sensitive information that can potentially break the business. You, as an employee, have the duty to maintain this integrity. Even if you’re starting your own business, you can be legally sued for using such data. Intellectual property theft is a crime. You won’t just get fired for it, you may also have to go through years of court hearings and trials.
As a new business, it’ll be extremely challenging for you to find experienced personnel. You may have to conduct long searches to find the right people for your business. It will be very tempting to get your old co-workers, who you’ve known for a long time now, have a trusted relationship with and will enjoy working with. However, never even let this thought cross your mind. Most employee agreements have an anti-poaching policy. Once again, you could get in legal trouble for doing so.
Using work resources for personal benefit
Using another business's resources to work for your business is unethical. You can’t use your work computer or your company’s contacts for the benefit of your new business. Your boss is who paid for the software. If you want to use them for your own business, you should pay for them too. This too will most likely be breach of your employment contract.
Best thing to do is to work on your business, outside of work hours on your own free time but make sure your business isn’t a rivalry of the current company you work for because you may have a clause in regard to that in your contract. This will present a challenge because outside of work and running a business we have other obligations. Spouses, children, church, family, other commitments and etc. So find balance in it all and take your time. Success doesn’t happen overnight.
Feel free to join my Facebook group Groomed for Excellency Tribe to connect with other working professional who desire to start their faith based business.
Until next time, continue to take steps of excellency and you will leave behind a trail of greatness.
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