The rise of the Internet has drastically changed the way people work in more than one way. Not only has working from home become the norm, but many 9-5ers now also have a “side hustle” on top of their main gig. There are a number of reasons that individuals may choose to hustle in their spare time, but whether it’s for financial security, to pursue a passion, or an effort to become a millionaire, one thing’s for sure – there comes a time that every hustler has to choose between their side gig and their main gig. Here’s everything you need to know about how to make that transition seamlessly.
Evaluate Your Finances
Before you commit to doing your side gig full-time, you first need to evaluate whether or not you are financially able to do so. Take note of your living expenses and the amount of savings you have. A good rule of thumb to follow is to have enough saved up to live off of for six months without any income.
Factor in Timing
You know what they say – timing is everything. This applies just as much to your work life as it does to your love life. Create a timeline that includes a detailed business plan to hold yourself accountable and make sure you stick to it!
Practice Persistence and Patience
Planning is absolutely essential to the process of making your side gig your main gig, but at the end of the day, you also have to put in the work! Be prepared to rack up plenty of hours and wear many different hats. While you’re in the process of laying down the foundation for your business, you should also be realistic with your expectations and practice patience. Success doesn’t happen overnight.
Learn From Like-Minded Individuals
No matter how much of an expert you might be in your chosen field, nobody’s above learning a thing or two from smart people. Surround yourself with like-minded individuals and embrace the lifelong learner mentality. Attend workshops and networking sessions any chance you get and don’t hesitate to ask for help from experts that have successfully navigated the world of startups.
Don’t Let The Fear of Failure Stop You
Every successful entrepreneur has taken a risk or two in their time, and if they didn’t, they would have never achieved their goals. To transform your side hustle into a full-time occupation, you need to just go for it! Don’t let the fear of failure hold you back – it’s better to have tried and failed than to have never tried at all.
Transforming your side gig into your full-time business can be pretty scary, but if you believe in yourself, put in the work, and remain open to other’s opinions, pursuing your passion just might end up being the best decision you ever make. At Project Spaces, we’re all about creating an environment where startups can flourish, and our coworking spaces house some of the most innovative entrepreneurs in the city. Take the next step in your startup journey and book a tour of our spaces today!