The pandemic has bred a new type of professional: the part-time entrepreneur. According to a recent study by the Bureau of Labor and Statistics, part-time workers comprise about 17% of the total U.S. workforce. Not all entrepreneurs are able to jump right into full-time business ownership, whether it’s due to financial stability, needing benefits, juggling a full-time job, or being a full-time parent.
This last year has taught us the entrepreneurial landscape is always evolving. Business leaders have to pivot in a moment’s notice in order to stay afloat. The pandemic has reminded us of why we are the business leaders we are today, and that there isn’t just one right way to achieve that title.
The pandemic has also taught us a number of lessons outside of business. The time we have with our families is the top priority. Work is second. Dr. Nona Djavid is a part-time business owner, full-time mom. Her drive to create healthier lifestyles for everyone around her – whether it’s physically or professionally – has led her to successfully guide her clients to take the leap of faith and start a part-time million dollar company.
Here’s Dr. Nona’s top three tips that every entrepreneur can take to embark on their journey of creating a million dollar part-time business.
1. Set A Mental Deadline And Stick To It
“There’s always going to be a reason why you can’t do it right now,” says Dr. Djavid. “I have all the time in the world now that I’m remote. Tomorrow I will wake up and work on it first thing, all day. The excuses keep rolling in while none of your ideas are rolling out. Soon enough, time keeps going by and you can lose sight of what you wanted to do.”
Deadlines are often extremely unrealistic and cause us a lot of stress. It’s why we push back on them so much.But they aren’t unrealistic in the way that you think. Rather than not giving us enough time, we usually anticipate it will take up more of our time and energy than it actually will.
“The first step in making your idea into a successful part-time business is setting the deadline. The first big deadline is when your project will be complete. Work backwards from there to set deadlines and milestones you’d like to hit along the way,” suggests Dr. Djavid. “Say them out loud. Cover your refrigerator with stickies. Tell your friends and family so you are held accountable. The absolute biggest obstacle when beginning your entrepreneurial journey is creating a start date and an end date. Once you do that, give yourself a pat on the back. You already know how you’re going to get there. It was just a matter of when.”
2. Take A Second Look At The Idea That’s Been Put On The Backburner
“The main takeaway of 2020 is that business leaders are dynamic. We don’t put ourselves into a box. We shift, transform, and acclimate to our surroundings. But sometimes we need a little bit of a push, or rather, a shove, to get us started in the right direction,” says Dr. Djavid.
“When the pandemic hit and everything in Los Angeles shut down, I knew my in-person chiropractor practice was going to be hit hard. But I had a family to provide for, I had employees that I was responsible for, so I was forced to make a change.
“The idea to go virtual crossed my mind before the pandemic, but it stayed exactly as that – an idea. Then, the pandemic hit and I had no choice. My circumstances forced me to re-evaluate my deadlines and create a more reasonable timeline.
“Giving yourself a deadline is the first step in giving yourself the push you need to create your part-time business. We are breaking down the idea that it is impossible. The personal responsibility is a crucial character trait for a successful entrepreneur.”
3. Work Smarter, Not Harder
“Creating a realistic deadline and being forced into a situation seems a little harsh. But the process doesn’t have to be difficult. The most important piece of advice I’ve learned through my entrepreneurial experience is working smarter, not harder,” notes Dr. Djavid.
“Before I was a mom, I was working 80-hour weeks. Even though I was creating a successful business, I wasn’t overworked, overtired, and over it. Once I had my son, my priorities shifted drastically. I changed my title to a full-time mom and a part-time business woman.
“How does an entrepreneur work smarter, not harder? Ask yourself these two key questions: How do I shrink time? How do I create agency for myself? Feeling inefficient in my work was my biggest pet peeve, and I felt working 80-hour weeks made me a productive person. The craziest thing happened when I had my son. I still was an extremely productive business woman. I went from having all the time in the world to work to only having two and a half hours to work when my son napped. I was forced to readjust my deadlines and fit that 80-hour work week into just a few hours each day. Same amount of efficiency, less amount of time and stress.
“By asking yourself these questions, you will find what drives you, the skills and tools that help you achieve these goals in an inefficient manner, and begin to get into a groove that allows you to produce the same results – if not better – in a shorter amount of time.”
Being a part-time millionaire is not about how many hours you put in or how much of your soul you sell to see your idea coming to fruition. It’s about how you get to the end result. How are you working to hit all of your deadlines in the most efficient way possible? Getting your business off the ground doesn’t have to take away from your family or free time. You can still create a business you love and spend time with the people that matter most.