Launching a startup while retaining your full-time job offers numerous benefits, particularly in the early stages of striking out on your own. However, managing both commitments effectively demands a strong support network and the ability to delegate. Here's some advice and a firsthand account.
"Reinstating purpose in one's professional endeavors and gaining better control over one's schedule are among the primary motivators leading individuals to venture into entrepreneurship. In certain sectors, being an employee entails accepting heavy and sometimes incompatible time constraints with family life." Despite this observation by Melanie Kovacs, founder of Joypreneurs, a business coaching company in Olten, the Swiss remain hesitant about entrepreneurship: only 9.1% of the working population in Switzerland are self-employed (2023 data). The conditions of salaried employment are often perceived as advantageous, and the inherent risks of managing a business deter many from taking the leap. Nevertheless, last year, over half of the Swiss (52.49%) identified opportunities for entrepreneurship in their respective industries, with nearly 45% feeling confident enough to embark on such a journey, as reported by the Global Entrepreneurship Monitor.
However, some individuals still opt to establish their own businesses, albeit part-time, alongside their salaried employment. According to Cyril Déléaval, a coach at GENILEM, an association that supports innovative companies in the Lake Geneva region, this approach offers a methodical way to develop one's enterprise. "Building a business can span several years, and the risk of mistakes is significant in the early stages. Before investing all of one's savings and retirement funds into it, taking incremental steps while maintaining a salaried position can be advantageous. This enables the entrepreneur to establish a foothold in the market more cautiously. Ultimately, this approach doesn't preclude the possibility of transitioning to full dedication to the startup in case of success, or scaling back in the event of failure."
Collaborating with the right partner
Lassana Dioum, an associate lawyer at the PBM law firm in Geneva, has successfully tackled the challenge of launching his own venture while ensuring job security. In 2015, he co-founded "iFluenz," a platform that connects brands with over 25,000 influencers on social media. "The emergence of Instagram presented new opportunities that we had to seize," he explains.
However, the lawyer didn't venture into this endeavor alone. He teamed up with Yann Benichou, a trusted computer scientist. "In addition to combining our strengths, it allowed us to divide tasks based on our skills. Moreover, since it's a platform with a high degree of process automation, this also enabled me to continue fully practicing as a tax lawyer."
Automating and outsourcing
Finding a co-founder isn't always a straightforward task. While it's possible to start and sustain a business solo, it often makes sense to delegate certain responsibilities by engaging external companies or leveraging digital tools. "No-code interfaces and generative AI prove highly beneficial for numerous tasks, particularly website creation or rapid, quality text composition," says Melanie Kovacs. "Moreover, outsourcing certain functions, like accounting, is sometimes indispensable."
Effectively managing your time
People who choose independent work often seek greater flexibility in their schedules. "However, balancing both a salaried job and independent work demands a high level of organization," warns Cyril Déléaval. "Poor time or task management can lead to overwork or burnout."
According to Melanie Kovacs, founder of Joypreneurs in Olten, it's crucial to clearly define goals and target clientele: "Many entrepreneurs, eager to please a wide range of clients, end up accepting too many diverse mandates. Sometimes, knowing when to say no is the best strategy for long-term sustainability."
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Non-compete obligation with the employer
According to the Code of Obligations, the duty of loyalty to one's employer remains binding even without a non-compete clause in the employment contract. "While it might not be a concern for those entering a different sector from their current job, an employer could feel aggrieved if an employee utilizes similar skills or targets a comparable clientele for personal endeavors," Cyril Déléaval explains.
Nevertheless, having entrepreneurs among their employees can prove to be highly advantageous for certain employers. "This rings especially true for companies regularly engaged with business executives. Personally, my entrepreneurial background aids me in feeling a kinship with those I advise as a lawyer," says Lassana Dioum, founder of the iFluenz platform.
Last modification 03.04.2024
