A lot of people start their side hustle with a goal to add a little extra money to their monthly income. Over time, that side hustle can turn into a full-time business venture.
You don’t have to take your side hustle full-time if you don’t want. Not everyone wants to solely be reliant on their business, and I get that.
But there are others who would love to avoid the rat race. They want to escape the world of the 9-5 and start working for themselves, and these are the three signs it’s time to make the push with your side hustle.
Has your side hustle got to the point where the money coming in is consistent? We’re not talking just a few months. We’re talking a good six months of the income being regular and enough to cover all your outgoings.
Okay, maybe not all. Some people will quit their job with enough saved up to last a couple of months on a slightly lower salary. You may need to work a little more on the side hustle to get it to the point of it being a full-time income.
I’d recommend taking a week of PTO to see if you can put the effort into the side hustle like this. If you see some growth in that time (because you already have a base, remember) then it could be worth quitting.
The biggest sign for me was that I was constantly turning away work because I didn’t have the time available. My main job was taking up all my time.
This is a good problem to have, because it means you have the ability to grow. You just don’t have unlimited time, so you need to create time. The only way to do that is to make your side hustle your full-time adventure.
You will need to make sure you are still getting regular new inquiries. If it’s only a month here or there where you’re overworked, then it’s not really going to be the best option.
Some people will say not to quit if you’re still heavily promoting yourself. However, a good business is never going to stop promoting itself. Look at how much Apple and Google do! So, you still need to do this regularly, but you’ll need the time to do that and to do the work.
It doesn’t matter if your business is hitting key milestones if you don’t want to take it full-time. And there’s nothing wrong with saying that you like it being a side hustle.
I get that! There are times that I wish I could go back to keeping my hobby as my hobby. I wish that I could enjoy writing the way that I used to. Now it’s my main source of income, so I can’t do that.
So, really think about it. If it’s not what you want to do, be honest with yourself.
What do you think about the signs of taking your side hustle full-time? Is now the right time for it?
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