startup-costs, funding, low-capital, parallel-entrepreneurI’d like to spend more effort for my startup idea. However, I do not have sufficient savings to cover the time needed to launch the product. Working on it in my free time is not sufficient, otherwise the product launch is too far in the future.
How do I tell my employer that I want to found a startup and therefore, e.g. reduce my work time to 50%? I see a risk of being fired if I do it the wrong way.
At the moment I get a salary. At the time I was hired, I have already informed my employer that I have a company (but not for the startup idea I have now). The startup idea is in different industry and can therefore not be considered as competition.
I think I’m also under no special contractual restrictions except the 40 hours working time and law (which means I must not work more than 48 hours per week in total).
Presumably, from your employer’s perspective, you have a full time position because they need you full time. You need to move carefully. If possible, figure out a complete plan that would cover your employers needs.
For example, instead of asking to go down to part time, you could ask to put in four ten hour days.
Finally, have a plan if things don’t go well. In particular, make sure you have zero debt and 3 - 6 months of expenses in savings.
My previous company allowed three full-time employees to change to part-time to build their start-up companies. Not all companies are like that, but they were massively understanding and found that there are a lot of creative people in IT so it was bound to happen at some point.
From your question, it sounds like you’re in a good place to ask seeing as your products are unrelated and they don’t own your intellectual property - but triple check your contract with them - the last thing you want is a successful product and then them owning it based on some misinterpreted or overlooked small print.
I don’t believe they can fire you for asking to go part-time (and definitely not if you’re in the UK). You’re well within your right to ask and they’re (by law) not allowed to treat you any differently.
The worst they can do is say no.
PS. Don’t mention it to anyone but your line manager. I’ve seen this happen as well. Rumours started, HR got involved and the person left shortly after. Make sure it stays on a ‘need to know’ basis.
Hope this helps!
Your current employer is not going to care much about your startup. Focus on what your boss needs right now and the conversation will go easier. Anticipate his questions and possible objections and have answers ready in advance.
From his point of view, all the work still needs to get done. So come up with a way that, even if you cut your hours 50% part-time, he is somehow able to save money (by paying you less) and still get all the work done. Focus on his needs, not yours, and that way he’ll have no reason to object.
Then it becomes win-win. I’d avoid talking about your startup much because that just focuses his attention on the fact that if you’re successful then you’ll go from part-time to quitting your job, which will suck for him. Don’t give him a reason to find someone else.
If you have both time and money issues you can find a co-founder which can help you on things. But to be successful in startup business you have to work full-time.
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