Ephraim Mashisani built a part-time empire
“What do you do? You’re going to need to work for someone else. The good news is that it’s not for ever and it’s not all day. We’re talking part-time work.”
Vital stats:
- Entrepreneur Ephraim Mashisani worked in banking and ran a small printing business part-time.
- Business was slow at first, keeping his day job allowed him to pay for projects and buy equipment.
- Eventually, though, his business took off and he decided to leave the day job behind.
Leaving your job behind can be tough. Not only can it be difficult to replace your salary with income for your business, but you also need to leave the security of guaranteed work behind.
For Ephraim Mashisani, the answer was to keep his job and start his business on the side. For a long time, he could use the security (and income) of his job to provide his business with runway.
Even when business picked up, he stuck with his job. “When business picked up, I wouldn’t take calls while at my corporate job. This meant I was potentially losing business.
My solution was to hire a tiny office space, get a landline, and hire a receptionist. It cost me R3000 a month from my salary, but it meant business could continue while I was focused at work.”
When it finally became clear that the business needed his full attention, Mashisani took the plunge and quit his job. The first year he was on board full-time, the company grew by 300%.
Top lesson:
Learn the discipline you’ll need. Holding down a job while running your business will teach you time management and better financial management. It will provide a cushion while you learn business acumen by fire.