The Challenge: My first big business challenge was to manage a full-time job, while starting my company. I was working about fifty hours per week at a Fortune 200 company, while sacrificing nights and weekends to jump-start my company.
This was a challenge because I was bootstrapping the company so I relied on my full-time job for income, and had to give it priority.
This situation was complicated because there was a strong connection between the nature of my full-time work and my company.
The Solution: My solution to this problem was to be patient, while constantly measuring the demand of the product I was offering to my audience. I decided not to take venture capital money because I wanted complete control over my company.
I connected with new customers outside of work, until I felt ready to make a move. It was also very important to me that I had finished my last project at my full-time job before I quit because they would eventually become a case study for my company.
The Aftermath: I started receiving lot of good press from national and local media outlets, with a lot of inquiries. I started taking on new clients outside of work, and then projected the 2010 annual revenue for Millennial Branding, which was high enough that I could leave my full-time job.
When I quit my job, I was also able to sign my employer as a client, which was great cash-flow for my new company.
The Lesson: Be practical when it comes to starting a business.
Do your research and analyze market trends so that you know when the right time to launch your business is.
When there's enough demand, then it's time to make a shift in your business or work full-time on your business.