Andrew Stain author of the Keep It Simple series answers his readers’ questions. One reader asks I have a regular job but want to start my own business on the side is that a realistic approach?

For many entrepreneurs this has always been the best approach – maintaining the security of a regular position and starting a business and creating extra income as a side venture.

While it has worked for many people in the past and offers a great transition opportunity from employment to self-employment there are some concerns that need to be reviewed on an individual basis.

If you have a job that creates income for you than you have some obligations to your employer and if you start to use your employer’s time to run your own business, then you are shortchanging your employer and potentially your employment could be in jeopardy. Likewise, if you use resources of your employer to run your own business you place yourself in a precarious position.

Other issues that need to be considered are whether or not your business is running in conflict with your ‘day job’ you must always keep proper separation between your business and your regular position and there should be no conflict or even a perceived conflict of interest.

Running a business requires time, capital and dedication. It is important to ensure that you have a proper business plan even if you are starting a business as a secondary venture because if you do not have a plan and you have not properly allocated your time resources then you could be faced with a failure through lack of attention.

Regardless of whether you are jumping into a business full-time or part-time you always need a plan and a roadmap to get to your destination. Check out my guide on Understanding Your Business Plan to get you started with a strong foundation.