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Do you dream of being a full-time writer? It doesn’t just have to be a dream. Here are five signs you’re ready to write full-time.
Is one of your dreams to write full-time? I understand that dream. It’s one that I had for a long time.
I’m not doing the writing I dreamed of when I was a kid, but I’ve still made it. For the last almost 15 years I’ve been able to support myself and my family on my writing income*. Sure, I have some side hustles still, but writing brings in the bulk of my income.
For many people, writing starts as a part-time side hustle. You do it around your job, and you may be clinging onto the safety net of that job right now. Well, how about letting go? Could now be the right time to start writing full-time? Here are five signs you’re ready for it.
Your writing income is enough and more to support you
Does your writing income match your full-time income? Maybe it’s close, or maybe you’ve exceeded it. You’re at a financial point where you can write full-time.
You’re not going to lose all your writing income overnight. At least, not if you’ve separated your eggs into multiple baskets. Maybe some of your income comes from your blogging, while other income comes from private clients. That’s the way that you want it to be.
If you do get all your income from one source, now is not the time to write full-time. If that source disappears, what are you going to do? Make sure you have multiple sources.
You want to write full-time
Even if you have the income, it’s not something that everyone wants to do. If you don’t want to go into writing full-time, you really don’t need to. You can keep it as a side hustle if you like.
What if you want to write all the time, though? What if you want to make this your full-time job and stop working for other people? If that’s your dream and you’re in a financial place to do it, then go for it! You won’t regret this move, even when you do lose a client and need to replace that income.
Your job is just a safety net at this point. If you want to go full-time, you need to take that step.
MORE: Why keep blogging as a side hustle
You have an emergency fund built up
I don’t recommend giving up your day job if you don’t have the emergency fund built up. Once you go full-time, you end up losing the extra money that you can put away. You need to have three to six months of income saved up just in case something happens.
And yes, something can happen. You could end up being ill for a while, or you could end up losing a client. You need to make sure you have something on the side that will help you in case cash flow becomes an issue.
Get to the six-month mark of savings and then make the decision to quit.
You’re ready to take the risks to write full-time
There are certainly some risks involved in taking your writing full-time. You need to accept those risks. If you can’t, then you’re not ready to take the leap.
However, don’t let fear hold you back. What is it that you’re actually afraid of? For a lot of people, it’s failing. Maybe you’re scared that you won’t be able to get clients in the future, or maybe you’re scared of losing all your income.
Some fears are justified. You may lose all your income, but you can have steps in place to help prevent that. The chances of never getting a client again in the future aren’t likely to happen; it just may take a while. So, acknowledge your fears and when you’re ready, take the leap.
You know how to run your own business
As you take your writing full-time*, you become a business owner. You need to be ready for everything that brings, and it brings a lot. You’ll need to figure out taxes—hire an accountant—and you’ll need to deal with marketing. Running a business is more than just doing what you love.
Can you handle that? You’ve already been doing some of it while you’ve been writing as a side hustle. Now you need to put your skills to the test and run a full-time business.
This can be an exciting part of the process. You learn new skills, and you’re ready to take on the world in a new light.
If you don’t have the business skills yet, learn them. Once you have, you’ll be ready to become a full-time writer.
MORE: When should you make writing your main source of income?
What’s holding you back from writing full-time? Let me know in the comments below.
