How To Turn Your Side Hustle Into Your Full-Time Hustle

Posted March 22, 2018

The term side hustle refers to an activity that can earn you money in a flexible way outside of your full-time job, and it's often something you're very passionate about. A side hustle is a great way to earn money to pay for the extras in life. But what if your side hustle can be something more?

How do you turn your 5-9 into your 9-5?

Plans Pay Off

A business plan for your side hustle may seem unnecessary at first, but if you are even considering quitting your 9-5 to start an entrepreneurial journey, you will need a solid business plan. Business plans include:

  • Company description
  • Market analysis
  • Organization and management
  • Service or product line
  • Marketing and sales
  • Financial projections

Cash Money $$$ 

Yes, earning potential is a huge part of determining if your side hustle has long-term potential. How much money have you been able to make with your side hustle, and is it scalable? If you put 40 hours a week into your side hustle would it outpace your current salary? In 3-5 years could it outpace your career trajectory? If the answer to this is yes, you may be on your way to full-time entrepreneurship.

Safety Net

A robust savings is a lifeline when pivoting from a side hustle to a full-time entrepreneurial endeavor. There are bumps along the road and having a solid savings to help alleviate some of the ebbs and flows of your sales revenue will be a vital tool to success. Many new entrepreneurs may not understand that cash flow is an issue that impacts all businesses. According to a U.S. Bank study, 82% of businesses who failed faced a cash flow issue. Ensure that you have a safety net in place before you take the next step in establishing your business.

Leap of Faith 

The last thing you need to do to turn that side hustle into a full-time job is to take a leap of faith. At some point when all the planning and forecasting is done, it takes a bonafide "YES!" decision to make that next step happen. Once you've planned everything out and saved up enough, dive in and start hustlin'!

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The CareerBliss Team

CareerBliss cares about your career happiness. That's why we offer a variety of great tools and resources to help you make better-informed career decisions. We believe that if you're happier at work, you'll be happier in life! Check out company reviews, salary information, career advice and, of course, millions of jobs on CareerBliss and choose happy today!

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