Once upon a time having a 9-5 job was enough for most. In fact, it has only really become a trend over the past few years that more and more 9-5 workers are looking to turn their passion into a career, on the side.
The art of side hustling is almost like a complicated relationship, balancing the wants and needs of your 9-5 with an out of work side hustle to get a little extra cash. Part of the reason that so many flog towards a side hustle is potentially due to the change in the economic climate, with more and more people getting into large amounts of debt.
Whatever the reason, there are those who want to take their hobbies and turn them into a full-time career.
1. Keep it a secret
Starting off on a side hustle, I’d highly recommend keeping it a secret. Madness, you want to boast about all that money right?
You leave your 9-5 and you hustle in the evenings, at the weekends you hustle. But you should never, ever tell anyone that you are running a business on the side. It keeps it separate from your life and allows you to completely focus on turning that hobby into cash.
The core focus of making money should always be focusing on making the money. Don’t ever double book your time, which is why I think it is good to keep it a secret – you can focus.
2. Don’t stop enjoying it as a hobby
There are so many people who love the side hustle! So much so, that they spend every spare minute working and working, but if your side hustle involves your hobby? What are you doing to enjoy yourself?
Taking the time to relax and enjoy it as a hobby as opposed to an earner will keep you focused on why you want to continue down the path to become an entrepreneur.
I’ve seen so many come before me with their side hustles, showing such enthusiasm and passion, only to be burnt out after a few months!
3. Don’t think that every hobby can be an earner
Once again, one of the biggest pitfalls to most entrepreneurs – they fixate on things that they love but don’t approach things like any businessman would.
Sure you can do what you love and earn some serious cash, but some business plans are always destined to fail. Research your idea before doing it and assess the viability. Sometimes, you’ll find that you might need to tweak your plans slightly to fit the market.
I’ve seen so many people run their businesses into the ground because they refuse to adjust to the market around them, take the time to realise that whilst you love what you do – sometimes you need to separate yourself and treat it like a business
4. Get some decent bank before you throw in the towel on your 9-5
So many people have a great idea, walk into their manager’s office, and hand in their notice.
They think they have this big, bright idea, that’ll make them a fortune, so they run with it.
There is nothing wrong with having passion about an idea and the courage to see it through, but remember that your 9-5 can help to finance your project until it generates enough income to support yourself.
By actually quitting your 9-5 you could kill your dream.
5. Get help with the things that make you want to call it a day
Running a business is a complex affair and at those bootstrap stages, you’ll find yourself doing so many little things that you might hate.
If you hate something, don’t do it. Get someone else to do it and focus on the things you do enjoy.
At the early (stressful) stages of transforming your hobby into a full-time earner, it’s a good idea to concentrate on the things that you enjoy to keep you in that frame of mind that makes you work smarter, faster, and positive about growth.
Unless you have no cash, in which case refer to point (4).
6. Network like you are speed dating
Once upon a time, I wasn’t a big believer in networking. My mantra was that surely if my product is awesome and my business cards are made out of recycled paper I can just have a few out and people will get back to me, right? No.
More often than not, those initial contracts and early pieces of press coverage that will set the foundations for your business can be garnered from some networking.
People buy from people, it’s a classic rule that people often forget (possibly be cause they are caught up in the age of digital).