How to Know When to Take Your Side Hustle to the Next Level!
April 27th, 2023
If your side hustle is going well, you may think about quitting your day job. But how do you know if that’s the right decision? You can never predict the future, but this article will help you identify some signs it’s time to commit to your side hustle and how to do it.
Is it Time to Take Your Side Hustle to the Next Level?
Below are six signs it’s time to take your side hustle to the next level.
Your Work-Home Life Balance Is Suffering
If you work full days at your job and then spend your entire evening working on your side hustle, you probably have no downtime and your personal life may be suffering. This life imbalance is a sign you should take your side hustle to the next level, as it implies you’re busy enough with your side hustle that it has the potential to be a full-time job.
You’re Getting Noticed
Getting noticed in your side hustle industry means you’re doing something right. If other businesses want to buy or use your concepts or your name is well-known and respected in the industry, this is an excellent sign that your side hustle is ready for the next level.
You’re Side Hustle Is Lucrative
If you’re making more money with your side hustle than your day job, taking your side hustle to the next level is a financially sound decision. If you spend two hours on your side hustle and make $100, but eight hours at your day job and bring home $200, taking your side hustle to the next level can be a lucrative option.
You See an Opportunity
Do you see a space in the market for you? Is there a need you know you or your business can fill? If you can identify a clear opportunity for your business to thrive, this may be a sign that you should take your side hustle full-time.
You’re Passionate and Happy
Some people start a side hustle, which quickly becomes another chore and painstaking job. If you feel like this about your side hustle, it may not be the right choice to commit to it fully. But if you flourish in your side hustle and it makes you feel happy, you should pursue your passion.
You’re Ready for Change
Even if all the above things apply to your situation, you may not be ready for a big change. Committing to your side hustle full-time is always a risk, and you may not be financially or mentally ready for such a big leap. If you are ready for change, you’ll feel it in your gut, like an itch you need to scratch.
How to Take Your Side Hustle to the Next Level
If you think you’re ready, below are the general steps to make your side hustle your full-time career.
Set Your Goals
It’s easy to fail if you don’t have a clear business plan in mind with set goals. Before you take your side hustle full-time, determine your goals for the business so you can stay on track. Ask yourself what you want out of your business and where you want to end up. This could mean hiring employees, opening a brick-and-mortar location, or reaching international clients. Whatever your goals, ensure you write them down and keep them in mind when making business decisions.
Being organized ties into setting goals, but involves more than that. You need to have a clear understanding of your finances and business operations. If you’re going to work for yourself, organization is the key to success, so don’t let anything fall through the cracks.
Build Up Your Brand
Before you take your side hustle full-time, ensure you have a strong brand identity. Building your brand involves having a logo, style guide, standards, colors, and anything else that makes your brand unique and recognizable. Don’t wait to do this, as you want people to recognize your brand as early in your journey as possible.
Believe in Yourself
It sounds cheesy, but if you don’t believe in yourself, you likely won’t succeed. Taking your side hustle full-time means you’re betting on yourself, so you need to believe in your abilities and vision. You should always weigh your decisions, but at the end of the day, you need to trust your gut and build your business your way.
Committing to your side hustle is scary and not everyone has the confidence to take the leap. But if you believe in yourself and your business and plan ahead, you may find yourself thriving in a career that makes you happy and fuels your passion.