If you're like many entrepreneurs who start part time, you’d like to see your business grow to the point that you can quit your day job and concentrate full time on your venture. It is possible to turn your part time business into a full time success, but don’t expect it to happen over night.

The benefit of starting a part time business is that you can continue to support your household from income earned working your day job. This greatly reduces start up costs and financial stress. For many entrepreneurs, starting part time it the only way they can afford to start. Unfortunately, squeezing in the time required to develop a business on a part time basis isn’t easy. Other obligations compete for your attention and can potentially sidetrack your efforts.

Keep in mind that the more time you put into your business, the sooner it can potentially support you. You must invest a significant amount of time to work on your business each week to gain the momentum needed to prove your business concept. You will have to be extremely focused and disciplined to accomplish this, but it can be done.

Once you’re up and running and proven your business idea – i.e. you have figured out how to sell your product or service profitably, then it’s time to figure out how to grow.

Growth can take place in two ways - organically and through additional investment.

Organic growth is growth that occurs naturally as your business begins to gain traction.
You will start getting repeat business from current customers. New business will come through referrals from current customers and as your business becomes known. If your product or service is in demand and you do a good job, word will get out and your business will grow. In time, you may reach the transition point to full time solely through organic growth.

Growth can also occur as a result of investment. Investment opportunities exist after you have operated your business profitably for some time. Investors will look to see that you have systems in place enabling your business to repeat its current success. With these pieces in place you may be able to obtain investments in the form of loans, grants, equity investments from banks, and angel investors. Friends and family may also be a source of investment funds. It is unlikely that these types of funding for the expansion of your business were available to you early in your venture.

Any capital raised should be used in ways that will allow your business to grow more quickly than it would without the investment. For instance, you can use the funding to buy more inventory or expand your marketing program. You can even use the money to pay yourself and expedite the transition of the business into a full time venture. But don’t forget, anything you borrow must be paid back, with interest. In addition, any investors you take on will be looking to get their money back, along with a significant return.

If your part time venture begins to show signs of success, it’s very tempting to rush into your boss’ office and quit. Be careful and avoid prematurely jumping in with two feet. For example, be aware that what looks like growth may be seasonal fluctuation. Don't make the mistake of seeing a seasonal boom and thinking it will last all year-round. Once you've gone through an entire year, you can get a better feel for what the seasonal fluctuations will be in your business, and be able to differentiate between real revenue growth and normal, cyclical ups and downs.

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