Take Your Side Hustle To The Next Level This 2017!
Ask yourself this– Can your side hustle turn into a full-fledged job?
Quite a timely thing to consider while looking back at 2016 and making a list of resolutions for the coming year.
Check out these side hustle related “symptoms” that may lead to ditching your day job and focusing on your side hustle instead.
- Are you disturbed that you are not able to spend more time side hustling?
- You have shifted your priorities from your fulltime job to your side job.
- You feel that– given more time, the income you earn side hustling is more than your regular take home pay.
- You are happier and feel more fulfilled doing side hustle related tasks.
The items on the list above are interrelated. Because generally when you turn your passion into an income-generating source, you feel happier and the sense of pride and achievement weighs more.
But before you take a leap and turn your notice in, here are some things you absolutely need to have before you make a final decision.
1. Have a plan and a backup plan.
Ask yourself these questions.
- Can you make a full-time income with your side job?
- Can you make an income for many, many years to come? Or is it not long-term?
- How long will it take for you to make a full-time income after you leave your day job?
- What will you do for health insurance?
- When will you turn in your notice at your current full-time job?
- Will you create a backup plan for yourself?
- What will your schedule be?
- Have money saved up and continue building an emergency fund.
Freelancing and doing a side hustle in general is very unstable. So it is pretty self-explanatory why you have to consider your finances before going into it full time. You might ask how much is a safe amount to have tucked away. This will depend on your obligations and responsibilities and the amount of time you think your side hustle can provide a steady income stream.
3. Have the right mindset.
Freelancing is hard work. Some like to think that it’s a never ending vacation, but that is not the case. Freelancing requires a lot of time spent working on tasks while trying to accomplish other responsibilities as well.The points that I brought up is not meant to dishearten you. It is just to prepare you for the obstacles you might encounter. But the trick is to keep your eye on the prize and merits that going full time may bring you.
If you are uncertain about leaving your day job and would just like to learn some tips to effectively balance it with your side hustle, you might want to try these:
1. Manage your time well, and be prepared for the additional hours and heavy work load.
It’s important to remember that if you’re trying to start or grow your side hustle, it’s only going to add one more heaping serving to your already full plate. So you need to be prepared to buckle down and hustle—because it’s not called a side hustle for nothing.
YOU NEED TO BE PREPARED TO BUCKLE DOWN AND HUSTLE—BECAUSE IT’S NOT CALLED A SIDE HUSTLE FOR NOTHING.
2. Set clearly defined boundaries.
It’s important to set strict boundaries for yourself. Do not complete side hustle-related projects, answer emails, or take phone calls during your normal working hours. Similarly, set expectations for yourself as far as what “off hours” you’ll treat as side hustle time, and what ones are set aside for relaxation and socializing.
Establishing these restrictions helps you better manage the time you do have and also prevents your boss from getting irritated. As you can understand, no supervisor wants you using company time for outside projects.
3. Figure out your priorities.
Make a to do list and determine proper time frames for each. While doing this it is important to be realistic. Do not try to create a list which requires 30 hours to accomplish and try to squeeze it into a 1 day work load.
Think about your most important action items for that time period. What things do you need to get done in order to feel accomplished at the end of your work session? Jot those things down, and begin with only those.