Many people think about starting a new business as a massive departure from what they are doing at the moment and they have to then be fully employed in a new business. I admit that most large scale businesses do require you to be fully engaged with the business, but I do come across a large number of people who started off very successful companies whilst working somewhere else.

My very first business was started whilst I was working full time as a sales person for Duracell and my sales performance did not suffer at all. I met someone last week whilst I was in Birmingham who was ideally placed to start a business whilst carrying on their job. It actually made sense for this person to employ an assistant on a part time basis and carry on working full time – with all the perks that working entails (a salary, a company car and the ability to visit your customers).

There is the ethical dimension – of course you are not supposed to do this. And many employment contracts will specifically prohibit you from having any other ‘employment’ whilst you are working for them. My attitude has always been a bit relaxed about this. I would only view it as unethical if you are working against the interests of your employer. The company that pays your salary does deserve more respect than that. I see no conflict though if you are carrying out your duties to the best of your ability and there is no conflict.

As a salesperson for example, you are visiting a multitude of customers and supplying them with products from your employer. I think it is perfectly feasible for you to supply them with complementary products that do not compete. Ironically, you may strengthen your relationship with your customers by doing this. There are many self-employed agents who do this and look for a multiple of products to supply to existing customers.

I have always been a big believer in taking small steps rather than taking big steps (unless you have to). Lots of people are under pressure at the moment to earn a little bit more or in banker’s parlance “strengthen their balance sheet”. As such you will see a lot more entrepreneurial activity – how can you profit from this?

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