If you’ve always wanted to work for yourself, starting a side hustle can provide you with the opportunity to learn the ropes of running a business while also keeping you in a job you’re comfortable with. Furthermore, setting up a side business boosts your income and has the potential to open doors that your full-time job couldn’t.
The challenge is that building a side hustle into a profitable business while you are working a full-time job is not easy. You must prioritize what matters most, and shift your perspective to be creative and resourceful.
Many people are turning their hobbies into money-making side hustles. If you want to be an entrepreneur, a long-time hobby can be the motivation that drives growth in a business.
This article will provide tips to help you balance the demands of a side gig, freelancing, or startup business in addition to working your full-time job.
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Getting a Side Business Off the Ground: Laying the Foundation for Success
Making your side business as efficient as possible is key to its success.
- Create a dedicated workspace for your side hustle by setting up a home office space.
- In your workspace, set up a filing system for paperwork related to your side business.
- Use your personal email account and digital software, or set up a separate email account for your side hustle. Avoid using computers, software, and email accounts issued from your full-time job.
Find your Niche
To achieve success, you must have relevant skills, experience, or knowledge of the industry behind your side hustle. A successful business depends, after all, on matching the right skills with the right interests.
- Make a list of your passions and interests.
- Analyze potential problems that your niche can solve.
- Make a list of your competition and research them.
Legitimize your Side Hustle
Whether you see your side hustle as a business or not, you’ll be more successful with a formal business plan. Creating a business plan can seem intimidating, but don’t let stop you. Simply look for a template online and make it your own. Your business plan should include short-term, medium, and long-term goals, as well as how much you plan on spending, and income projections.
Test Your Side Hustle With One Customer
Make sure your product or service makes a real impact. Before you’re completely invested in your side business, get feedback from a paying customer. Even though you may think that your service or product is amazing, is that how your customers see it? The harsh reality is if not enough people find value in your business it will not be successful. Don’t let this stop you. Take the feedback as insight into what your customers really need. Get
Maintaining a Full-Time Job and a Side Hustle
Create A Schedule / Routine
Make it a point to work on your side gig at the same time every day. Creating a schedule for your side hustle will keep you consistent and on task. The best way to stay organized and on task is to create a side hustle calendar for tasks and set deadlines. If you aren’t a skilled multitasker, it’s best to break up each side gig session into timed sections and assign one task to each time frame. For example:
- 9:30am – 10:00am: Finish blog outline
- 10:30am – 11:00am: Send out invoices
- 11:00am – 11:30am: Create content for Customer’s homepage
Organize your schedule every week at the start of the week. Spend 30 minutes planning your business-related tasks for the week. Doing so will help you handle your work and side hustles without feeling overwhelmed.
Understanding the challenges of running your own business is important, and giving each task your full attention will help you to grow your business. Consider these tips for staying on task without being distracted:
- Take regular breaks throughout the day (every hour) which can refresh both body and mind.
- Set clear boundaries between leisure time and time your spending on your personal business.
- Reward yourself when you reach a goal or deadline. Take yourself out for a nice dinner with friends.
You need to manage your time well if you are working full-time and running a side business at the same time. Make sure that you minimize distractions completely and give each task the focus it deserves, no matter its size. You will get more from your business if you are willing to put time into it.
The Right Time to Quit Your Job
The best way to become an entrepreneur is by starting with a side hustle and then transitioning into entrepreneurship. While some people may be willing to risk it all, you should make sure that your efforts are worthwhile before throwing in the towel on employment security for something less stable.
Ideally, your side hustle should generate a steady income. It is a good time to start thinking about quitting your day job when your side hustle pays you 75 percent of your full-time salary.
Now that you know you are capable of balancing both your side hustle and full-time job. It’s time to start setting your goals, getting organized and become the entrepreneur you’ve always wanted to be.
An easy-to-use app , like Symposium, is a great tool that can help you with your journey of starting a side hustle. Whether it’s connecting with like minded people or starting your own business online. The app connects you with experts specializing in different skill sets. Symposium is a Live-steaming marketplace. On Symposium coaches, teachers, professional athletes and many more experts are waiting to share their knowledge with you. No need to worry about technology, scheduling, or payments, Symposium takes care of it all. Symposium’s design takes the stress out of learning online. Sign up today online, or download the App.