3 Ways To Be An Entrepreneur Without Diving Into the Deep End

Many Americans dream of owning their own business and the financial independence that comes with it. Plus, it means being your own boss, making an impact on the community, and focusing on something you love. Even with these aspirations in mind, however, it can be difficult to actually go for it. Starting a business generally requires all of your attention and quite a bit of money up front — these are significant barriers to getting started.

Still, new enterprises are started every day. Some people truly have the personality that makes them apt to start businesses, and they aren’t held back by the fears that others experience. Even if you are not one of these people, all hope is not lost. There are a few ways that you can be entrepreneurial without quitting your job and risking it all to start a new company.

Create a “side hustle”

This is one of the easiest approaches to starting a business. The concept of a “side hustle” is that you focus on something outside of your normal work hours. By developing and growing your enterprise outside of work, you aren’t forced to cut into your income or quit your job to be a business owner. This is an especially great fit for something starting an enterprise they’re passionate about. That way, it won’t feel as much like extra work.

Luckily, there are plenty of blogs and resources online to help you define your side hustle. It can take the form of whatever makes sense for you as the owner: a blog with affiliate links, a homemade farmer’s market product, a food truck, or anything else.

Open a franchise

If you’re looking for a bigger commitment and higher potential earnings then a franchise might be a good option for you. Essentially you would be opening a business that’s already clearly defined by an existing company, and you’d be a franchisee within it. Some of the most popular new franchises include Rent-A-Center, uBreakiFix, and Cinnaholic, but there are plenty of smaller companies looking to expand.

With franchising there is typically a structured approval and onboarding process that requires you to have a certain amount of investment available upfront. With this in mind, you’ll want to make sure you have the funds ready if you take this route.

Buy an existing business for sale

Who says you need to start a business from scratch to be an entrepreneur? Buying an existing business is a great option for someone looking for less risk from the start. Unlike with franchising and side hustles, you’d know exactly how the business would perform when buying one that is established. Of course, you’d pay even more upfront since there is inherently more value to a running enterprise.

To find these you can look at broker sites where businesses are listed, or you can “shop” around locally. Owners in your area may be open to the idea even if they’re not seeking it, so it wouldn’t hurt to contact people in the area to see if and when they would be open to selling.

Being a business owner doesn’t have to be complicated up front and it doesn’t have to mean putting your entire life on hold. Luckily for any aspiring entrepreneur, there are a multitude of ways to make that dream come true relatively easily.

Join our newsletter

If you like Critical Financial, subscribe and get our latest content via email.

Powered by ConvertKit

Share this post:

Recent Posts

Leave a Comment


May the 4th Be with You: Star Wars Swag on Amazon

May the 4th Be With You: Star Wars Day Swag

It began as the punniest holiday ever but quickly grew into an earnest (if somewhat random) celebration of the long-running (and still... more →
People count the money to buy a house in future success.

Avoiding Mortgage Scams: Don’t Fall for Unreasonable Promises

If it sounds too good to be true, it probably is. That’s sound advice for almost all aspects of life, including the search for... more →
Eat for free for a whole month via the meal kit companies discounts for new customers.

How To Get a Month of Free Food: 9 Meal Kit Companies Offering Discounts to New Customers

Play your cards right and you might be able to line up a month’s worth of free meals if you were to try out all nine of the meal... more →
Generate extra cashflow -- here are 97 ways.

96 Awesome Ways to Generate Extra Cashflow

Who doesn’t want more money nowadays? We’ve got you covered on that front. Here comes a long list of different ideas on... more →
Valentine's Day gifts that won't destroy your budget

Valentine’s Day Crafts Are Romantic Rescue from Crazy Inflation

Fall for the hype this week and you’re out an average of $143.56 for Valentine’s Day. Crafts and other do-it-yourself tactics... more →

Ultimate Guide to Bitcoin — FREE Ebook!

Have we got something for you: a free ebook about bitcoin! more →
Get a flu vaccine.

Why You Need To Get a Flu Vaccine Right Now

Flu vaccines aren’t just for the elderly  anymore. Here are 25 reasons you should go get vaccinated. more →
Financially successful

Acquire the Trait All Financially Successful People Have

Financially successful people tend to all have a lot of self-discipline. Improving your discipline in one area of your life often spills... more →

What’s the Best Free Recipe App?

The Apple Store and Google Play together offer more digital cookbooks than you probably have room for on your mobile device. So which... more →
New tax law might slow down housing market.

What Will the New Tax Law Do to the Housing Market?

The new tax law will have a profound impact on the housing market, although in ways that go beyond the deductibility of mortgage interest... more →

4 in 5 Households Will Get a Tax Cut in 2018

Four out of five U.S. households will get a tax cut as a result of the legislation that President Donald Trump signed into law today. more →
Will bitcoin reach $100,000?

When Will Bitcoin Reach $100,000?

Bitcoin has accelerated its pace of appreciation in recent months, and if the current levels between $15,000 and $19,000 make you itch... more →
The Dow Jones topped 24,000 -- now what?

The Dow Jones Crossed the 24,000 Threshold. Now What?

Stocks appear to be increasing in volatility, yet the markets closed on Monday, December 4 with the Dow Jones Industrial Average is... more →
Peer mortgage

Should You Get a Peer-to-Peer Mortgage?

If you can’t get approved for a home loan from a bank, you might want to look into applying for a peer-to-peer mortgage. more →
Investment gifting is awesome.

4 Things To Know Before You Donate an Investment

While donations of any kind are appreciated, gifting investments benefits both the giver and the receiver. Here are four key things... more →
Are you wondering: What's the Relationship Between the Stock Market and Federal Debt?

What’s the Relationship Between the Stock Market and Federal Debt?

Wouldn’t it be wonderful if gains in the stock market could actually reduce U.S. government indebtedness? If that were true,... more →

Freedom Debt Relief Reviews How to Avoid Being Exploited Financially

Financial exploitation comes in all shapes and sizes, and it does not only affect wealthy people. Everyone is susceptible to financial... more →