Yesterday, I started the discussion of how to cover your tail legally when you are launching a dream biz while working full time. Today, we continue with the question:
Should you tell your boss that you are building a dream biz on the side?
Once again, you must refer back to your employment contract and employment policies. Do they require full disclosure of outside work? Do they limit the hours of outside work? Generally “outside work” is going to include actual employment outside of the full time gig, or any outside client work. Planning and other ground work probably won’t constitute actual outside work. These are a few key issues for you to think about, but you should consider hiring an attorney licensed in your state to review the employment agreement for you.
In real life, not much is black and white.
I am the queen of erring on the side of caution. Lord knows, you don’t want issues and questions to surface as soon as you get that first client. I prefer a proactive approach – put it all on the table.
You may have concerns that your boss may quickly move to replace you. To that I say, use your judgement. You should consider:
- How far away you are from actually launching the dream biz?
- Do you have a good rapport with your boss?
- Have you been a high performer at the job?
Based on those answers, combined with your legal obligation, an advice of a local attorney, you will have an idea of when it is the right time to disclose that you are Launching While Working.
Now, what if you don’t have any restrictions in your employment agreement or policies?
Then, lucky for you…it’s totally up to you.
In either scenario, make sure you continue to work hard for that employer. Your professional reputation is golden whether you are working for yourself, or someone else.
Entrepreneurs, how did you deal with telling the boss?