Is juggling the side hustle and the full-time gig just not working anymore? We’ve got some tips on how to make the next move.
Do you find yourself daydreaming every afternoon or waking up in the middle of the night, scrambling for paper and a pen? Do you get home from your 9-5 gig itching to get started and make your ideas a reality? We give you the low-down on the less-than-dreamy aspects of transforming your side hustle into your full-time gig. All you have to do is work out if you’re ready for the leap.
TEST DRIVE IT
Your side hustle is a little bit like your dream car, that old ‘60s Cadillac with the white leather interior. She’ll have her bad days along with the good. The bad days are the ones that will really test your commitment. So, are you ready to sign the papers and grab those keys to make things official? Next time you hit a speed bump, ask yourself, am I in this for the long haul? If you can already see a beautiful future spent cruising down the coast together, then this is the real deal, but if you’re on and off, hot and cold, it might be time to slow it down and tune into what you really want.
MONEY (THAT’S WHAT I WANT)
Realistically, we need to consider our cost of living – can we actually afford to quit our day job? This is really important if you’re generating very little income from your new business as you might need to consider keeping your day job but cutting down your hours as you grow (and if your employer agrees). Make a budget, be honest, be real.
To work out what you’ve got to play with each month, write a list of your monthly non-negotiable bills: rent, mortgage, phone, insurance, electricity, food, social life, entertainment, organic raspberries – whatever it is you spend your dollars on. Tally them up to a figure – this should make clear as day how feasible it is for you to quit your day job, and still have enough money and resources to run your own business, full-time.
Before you dive right into the pool of entrepreneurship, take a moment to consider who you have in your network already. They might be close or distant, your cousins, cat’s godfather, whoever you feel you can rely on for support when the financial or emotional blues come to town, as they inevitably will. Do you have family and friends you can rely on for support? When the ups and downs of running your own business take their toll and make you feel like throwing in the towel, a proper support network will be your biggest fan, your right-hand man, your therapist and your visionary all in one.
If you feel like you don’t have anyone close to you that can support you during trying times, reach out to like-minded, go-getters and create your own support network.
WORK, WORK, WORK
If you think quitting your day job equals a whole lot more free time, then you are mistaken. Once you’ve committed to making your side thing a real thing, you need to make like Rhianna and work, work, work. This means occasionally missing those coffee catch ups, Netflix marathons, and Saturday night shenanigans because guess what? There is no business without you. For some, coming to terms with the reality that they are the driving force that decides the success or failure of their business can be enough to throw them off the idea completely.
Leaving your 9-5 might feel liberating but also means you can’t fool yourself with the old and tired excuse of your full-timer getting in the way – so it’s time to get real with yourself and decide if you are all in.
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