Short answer is ABSOLUTELY NOT but that wouldn’t make a good blog now would it.
I know that there are stacks of people out there who are either busy little beavers building their businesses whilst working (full time and part time) & there’s also a gang on wantrepreneurs who are desperately looking on and wondering…. “perhaps I could.”
So, building a business isn’t easy. If it was easy then everyone would be doing it, right?! It takes time and dedication and whilst there’s an argument for being all in there’s also a sensible approach of setting up with as a side hustle. Stacks of successful entrepreneurs have started their businesses with their job still firmly in place.
Keeping hold of your job is a good decision if you aren’t financially able to make the leap straight to being self employed. The LAST thing you want to do is jump in with both feet and end up desperate to get the money rolling. Desperation turns to anxiety and hustle and is absolutely counter productive when it comes to making money.
It’s important that you are well aware of what your safe position is. I mean financially. I always suggest that you move away from the “back of a fag packet” kinda calculations and take a good look at the finances. How much do you need to make in order to achieve your safe place, whatever that looks like for you. This then gives you a figure to aim for within your business that will mark the day that you can hand in your resignation and embrace your dream full time. If you have an absolute figure to work towards then that’s a great little motivator.
What you do need to know is that at any point you transition you will move from salary into a more unknown water. When you are self employed you can have fluctuating income. You might be able to secure some contract or get people signed up to receive your awesome by way of payment plans BUT even with that there comes an uncertainty where income is around. You become self reliant and you’re absolutely responsible for what you make. I know that sounds like a BIG deal and you do have to start to get a little more comfortable with that uncomfort. Whilst you are in a salaried job you know exactly how much is coming in each month, see your self employment as an exciting challenge to exceed that. Remember also that in that salaried job you could also be made redundant at any time and that would leave you without an income whereas in business it’s your responsibility to make that income happen.
So what’s the top tips on the side hustle & the transition?
- Use your time wisely. Make sure that when you do have the opportunity to sit down and work on your business that you can focusing on getting stuff done. No mucking about on Facebook and dressing it up as work. Have a to do list that you can work from so that you can hit the ground running whenever biz time arrives.
- Use your lunch hours. If you get a lovely lunch hour at work then use it to crack out the notebook and get creative. Get your ideas captured and get that to do list nailed.
- Know that the to do list is never done and it’s important that, regardless of the length of that list, you don’t get overwhelmed. A long to do list means that you can take lots of inspired action and therefore there’s lots of growth potential in there.
- Work out your safe place financially so that you can work towards it.
- Schedule Social Media posts and newsletters etc so that there’s activity on your biz stuff even when you’re slaving to the day job.
- See if you can phase your way into self employment with a reduction of hours over a period of time
- Don’t work all night every night and then all weekend. You’re not building this business at all costs and it needs to be high up there in your passions in order to be able to make it work. You don’t wanna burn out before you get going.
- Prioritise money making activities. Make sure you aren’t wasting time on stuff that can wait ~ prioritise the stuff that will gather your crowd around you and start them on the journey to become purchasers.
You might also wanna check out >>>> this blog about what you DON’T need to get started<<<