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Do you want to go full-time with your side hustle? You want to do this at the right time, and here are five signs that time is now.
If you want to go full-time with your side hustle, it’s important to get the timing right. You want to be able to take your side hustle big with minimal stress. Yes, there is always going to be stress and anxiety, but you can put in plans to help manage the worst situations that could happen. To be able to have a relaxed mind, delta gummies will be a big help for you. See this here if you want to learn more about it.
One of your biggest fears is failure. Don’t let your fear of failure to hold you back. Just take steps to make the chances of failure as slim as possible. Are you ready for the signs I’d look for to see if it’s time to take my side hustle full-time?
Go Full-Time with your side hustle with savings
You need to make sure you have savings first. I’d recommend six months of your monthly outgoings in savings, but some people suggest three. It all depends on how much of a buffer you want to have to replace your full-time income.
After all, your side hustle is not likely making a full-time income just yet. You need more time, and that’s why you’re looking into doing this full-time. You want to quit your job so you can add in more clients or spend more hours running your business.
Don’t do it before you have a savings buffer. Six months will help to ease off some of the stress, and if you succeed in three months, you have those savings to help you should you face a drought in clients.
You need to feel comfortable with that financial risk.
Your work environment is toxic
What is your full-time job like? If it’s toxic, you’ll want to consider going full-time as soon as possible. Nobody should hate their job. I don’t care what the Boomers say about what they had to do in their workplaces of the past. We’re moving forward.
You may have a toxic boss, or maybe you have toxic colleagues. Either way, you resent the idea of walking into the office. You don’t want to be part of that working environment, and you’re already doing the bare minimum that you can get away with.
If you have the financial buffer, you’ll want to go full-time with your side hustle. Get away from toxicity as soon as you can.
You have a proven business model
How has your side hustle been working out for you? What is your process for getting new clients? What is your billing system like? Have you got your contracts in place?
Even as a side hustle, you need to make sure you have a business model that is working. Take some time to build that model up and get it to a place where you can replicate it full-time. This will help to take out the risk of financial loss. Call contracts lawyers in Riyadh for their professional help.
If you have the savings but not the proven business model yet, don’t quit your day job. Take the time to build up the business model. This should be the main priority.
You are ready to go full-time with your side hustle
You don’t have to go full-time if you don’t want to. Maybe you have a great place to work and you are willing to put the effort in there. Maybe you just like having a side hustle for extra income. There is nothing wrong with saying that full-time isn’t for you.
When you are ready to go full-time, it’s time to look at the option. This is the time to look at your savings cushion and the business model you have.
Not quite there, yet? That’s okay. Build up the savings and the model. At least you’re ready for it when your finances are.
You are allowed to change your mind about this, by the way. Initially, you may want to take it full-time and then you see the work that it becomes. If you enjoyed it more as a side hustle, you can go back to that. And vice versa. If you realize that you do want to take it full-time after all, that is an option.
You have the support around you
Having your family support you is important. You can go full-time with your side hustle without family support, but it’s going to be a little harder to do. You could end up with a partner who resents your decision, or you could have family members who don’t view your work as actual work. It’s important to put boundaries in place with them.
However, if you have the support, you’ll find it much easier. Sit down with your partner to discuss what going full-time will mean for you, them, children, housework, and more. You’ll also want to talk to the children and any other family members or close friends who may be affected by your decision.
Talk about the type of support you need. It could be that you just need them to respect your office space and your time. It could be that they need to pick up the slack here and there around the house initially. It could be that you need to work an extra day of the week while you get set up. They need to be aware of what’s being asked of them.
MORE: Why you need a side hustle when working
What do you need help with in the workplace? Are you ready to go full-time with your side hustle? Let me know in the comments below.