Do you work full-time but have a side project you’re passionate about? Have you dreamed of growing that side project into a profitable business that empowers you to walk away from your current gig? The idea of striking out on your own is exhilarating, but many people are understandably overwhelmed by the question of how to get there. Creating a full-time job from your side hustle is honestly not an easy thing to do. It requires time and hard work, but it is possible to turn your side hustle into your dream job. Here’s how:
Start With A Positive Mindset
Making your side job a full time one requires courage to start. This begins with a positive mindset. Positive thinking helps you come up with creative ideas that will influence clearer and better decisions. It also makes you productive because you have a goal-oriented approach to making your business work. It prepares to manage negative feedback and conflicts that will arise subsequently. Also, it facilitates relationships with others who may be of help to your business.
Determine Your Benchmarks
Ensure you are fully prepared to start your job before you quit your current job. Do extensive research to give you a clearer picture of how to start. Make a comprehensive plan of how you want your job to be, including the short and long term goals to be achieved. Come up with your vision and mission statements and strategies to work around them. Start by answering a few key questions; How much money do you need to generate each month before you can leave your current job? How much do you need to invest in your business to get it to that point? Approximately how much time will it take you? What elements do you need to put in place to set yourself up for success? Use your free time to do some homework and research the answers to this. Be honest with yourself as this would enable you to know when to take the bold step of starting up fully.
Find a Mentor
You will likely discover that you need help finding those answers, as well as the answers to many other questions that will arise as you work to grow your side business. Turn to experts, such as business consultants and accountants, who can provide help. A mentor is another invaluable resource for a budding business owner.
There are several organizations that specialize in helping small business owners find the right mentor, but you may not need to look that far. Don’t be afraid to reach out to people in your existing personal and professional networks. Choose someone who has been through the process of building a business and understands your strengths and challenges. A mentor can help keep you accountable, show you how to overcome obstacles, and encourage you when you’re feeling low.
Surround Yourself With Like-Minded People
Relationships in business with like-minded people help one thrive, especially if you are just starting up. Take time to build a circle of people who have experiences in what you are about to do. Connect with these people, share your ideas and possible fears you might be facing. Valuable relationships empower you, create opportunities for you, connect you to other persons of like minds, and you get to enjoy the benefits of hearing their stories, the challenges they faced, and how they were able to pull through.
Build a Client Base
Once you’ve laid the foundation, it’s time to start connecting with clients. Don’t let the part-time nature of your business hold you back — client relationships lead to referrals, and referrals lead to revenue. If, for example, you’re working on turning a side business into a full-time job, set time aside every week to connect with your existing clients, and make new connections. Building a list of clients may take time, but with regular care and attention, your efforts will yield impressive results.
Invest Your Time Wisely
Your time is a valuable asset, and at the initial stage, you may have so many activities that would require your time. You may have to assume different positions to make your business work. Knowing how to prioritize these activities is vital for maximum output. It would help if you also built a sense of accountability to keep you on the right track, as you will not be initially giving a report to someone else. To help manage your time for maximum output, break down your activities in order to prioritize. Create a to-do list of tasks and tick them as you accomplish each task. This can be broken down into hourly or daily tasks. Give yourself a deadline to accomplish these tasks and do well to celebrate each task completed, as this would push you to achieve more.
Protect Yourself From Burnout
Building a business while working full-time can mean long hours and late nights. However, it’s important to find a healthy work-life balance. Schedule time to do things you enjoy, from exercise to downtime with the family. Avoid the temptation to keep working until your head hits the desk. In the long run, pacing yourself and avoiding burnout is more productive than pushing yourself too hard.
Celebrate Incremental Success
Quitting your current job may be the goal, but there will be lots of smaller successes along the way. Find ways to celebrate every accomplishment — launching your website, executing a marketing campaign, connecting with a new client. Share each success with the people around you to let them know their support is paying off. These small celebrations are also an opportunity to step back and look at how far you’ve come. Giving yourself credit for minor achievements will help keep you motivated.
Take the Leap
Ask anyone who has made the transition from side hustle to a full-time job and they will tell you there’s no such thing as the perfect moment to jump. Focus on the big things. Go back to the questions you asked yourself at the start. Check in with your mentor. If the foundation is in place and you’re hitting your financial benchmarks, it’s time to spread your wings and fly.
Starting your own business always involves risk. Even the most successful entrepreneurs have stories of ventures that had floundered. But by planning ahead, putting in the time, and taking care of yourself along the way, you’ll put yourself and your business in the best possible position to find success.
Constantly evaluate your progress as your job grows. Create time to revisit your goals, vision, and mission statements to observe if you are on the right track. If you may not be meeting up, you can create new strategies to help further meet your goals. Feel free to modify your goals if necessary. Also, get feedback from others to further evaluate your performance and help with making subsequent decisions.
Do you know of any other ways that you can turn your side hustle into a full-time job?