How to go from a side-hustle to a full-time job
Launching any business usually starts with a vision, a dream and with you thinking: Why not?!
Leaving the security of full-time employment is still a dreading prospect for many though, which is why most people start with a side hustle while they stay in their current job. But what about taking that next step? Let’s talk about how you can make your dreams your reality! What you need is to set yourself a target and transform your dream into a goal.
I am all about making things happen, there is nothing that can’t be achieved especially when you know deep down this is what you really want to do. Your dream is what is calling you but you might still not be able to let go of your current job because you need that income stream.
The 3 components of a sustainable business: structure, timeline and numbers
Most people who dream about doing something for themselves are in the same position. However, those who set out to succeed not only start with the right intention to make it succeed but they also seek out people who have done it before for themselves on their own. They know they want this side hustle to be set up with structure, a timeline, and most importantly some tangible numbers.
When it comes to starting a business, many coaches and consultants will sell you a marketing and sales strategy in lieu of a business plan. Whilst this is a vital part of business, it does not show you how to set things up to succeed with solid foundations.
Every successful business across the Globe has a CEO, a founder that understands what it takes to run a business and how to keep it growing. Yes, growing. If you want to not only replace but exceed your current salary while working less, you need to look beyond starting but also at scaling your business.
There is a lot more that goes into setting up a side hustle/business and most of the time I would spend more time with you on working out what you really want but today I am going to share 3 TIPS to be aware of as you start to plan.
Tip #1: Know Your Numbers
You might think numbers aren't your thing and would rather avoid them but if you aren’t prepared to know your numbers your side hustle will fizzle. Maybe not in the first 2 years but most certainly in the first 5, statistics have shown us that pattern time and time again. So don’t become a statistic.
Know what service or products you are offering and how to package them up
Never discount, always add value and change your product offering to meet the needs of at least 3 different customer types.
Your time is money so include it in your product cost. You don’t work for free!
Build-in time for every touchpoint – yes, that costs money
Anyone who cannot show you how to run your numbers is not serving you. Remember, any support you get is about showing you how to do things as this means they have done it and succeeded themselves. Remember you are building to scale. This leads me to my next tip…
Tip #2: Have Your Operational Ducks in a Row
Here is something I see when people set up their businesses. They think it’s just about them, but being able to think ahead about what else will need to be taken into account, when they reach the point where it’s more than them in the business, is critical from the onset.
You are not setting up a side hustle to become a slave to your dream. You are doing it so you have freedom and more “YOU” time.
So, it is important that you think about options that will help you scale and grow and have you involved less and less. You are no longer trading time for money.
If your business is to run without you, what do you need?
Who else can do what you do when you are on holiday?
If you wanted to multiply your business by 100 what needs to happen?
All of this also costs money. Have you budgeted for this?
What comes first the scaling or the increase in staff/automation/systems?
Knowing how to plan for this and stage it so that you are responding to the needs of the business is about knowing your numbers and building a solid foundation.
Investing in the right people to guide you and listen to your vision is the key. But it does not stop there. There is always the next step.
Tip #3: Be Ready to Think Limitlessly
You don’t get in a car and drive aimlessly. You get in knowing where you want to go and what time you need to be at your destination. This is no different. It does not mean that everything is set in stone, but it does mean you have clarity in what you want to achieve, why and most importantly when by.
I have set up businesses since 1997. I have scaled businesses here and across the globe, across cultures, and across industries. I am passionate about people succeeding. I don’t sell a dream – you already have a dream. I help you map things out so you know how to get there.
I think limitlessly and it's my job to help you do the same.
And if something is not working the way it should, well, I will be open with you and we will crunch numbers and look for solutions so you know what you need to do to make it work. Once you see what is possible you will keep striving toward that goal because you no longer want to be chained to someone else’s dream. You will see a business with you changing your role and the impact you make because
I won’t sell you a story. I combine my lived experiences with 35 years of finance experience and my qualifications as a qualified counsellor to offer you the whole of me supporting you to break through barriers.
Are you ready to take that step?
Never ask “What if?” ask me why and you will begin to understand why I do things differently and help people create their new dream. If you want to know more you can connect with me and, instead, ask “What else?”.