When your hobby turned side hustle starts growing, you might start thinking about taking it full time. What started as something small to make extra money on the side—to pay for the kids’ piano lessons or save up for a vacation—is now making hundreds or even thousands of dollars per month! Being your own boss sounds like a great idea, but how do you know when it’s time to quit your day job and take on your side hustle full time?

With a little passion and self-confidence, you can do it!

I am all for growing your business slowly and steadily over time, avoiding debt, and taking steps instead of risky leaps! And I’m not the only one.

Cute African Kid Child Girl Showing Homework Talking To RemoteHenry Ford started his automobile company while he was still employed by the Edison Illuminating Company. Steve Wozniak continued working for Hewlett-Packard for quite a while after cofounding Apple with Steve Jobs. And eBay was launched while Pierre Omidyar worked for a software-development company. These are just a few examples of some of history’s most significant companies that began as side hustles.

A study conducted by The Academy of Management Journal confirms that businesses grown gradually on the side while the business owner is still employed full-time at another company are 30% less likely to fail. I like those odds!

Making the switch from side business or hobby to full time isn’t something you can take lightly. The obvious question is, do you reasonably see yourself making enough money working for yourself? Here are five things you should consider:

Step 1: Ask yourself if this is what you really want.

Many women don’t want to run their own business full time, open a storefront, or have employees. Scaling, expanding and hiring may not be on your list of goals and dreams at all—and that’s okay! I always encourage people to chase their version of success, otherwise, you will end up crossing someone else’s finish line.

Maybe your business is growing fast, and your friends and family are encouraging you to expand or hire help. But if that’s not what you want to do with your business, you don’t have to go that route. Be successful on your own terms. Regardless of your background, industry, number of team members, or level of revenues, you know what’s right for you better than anyone else does.

Step 2: Build up your side hustle to the point that it feels like you’re working two full-time jobs.

If it feels like you’re working two full-time jobs right now, that’s a good sign—because you kind of are! You can absolutely juggle both for a season; in fact, I teach that things will be crazy busy when you’re ramping up your business. It will be stressful at times, but if you’re passionate about what you’re doing, then the late nights, early mornings and working weekends will eventually pay off!

If you’re turning down work because your plate is overflowing, you’ve got a hot business on your hands. It may be time to take it to the next level! Watch my video below for more on this:

Step 3: Calculate if you can reasonably live on what your business makes right now.

Making Round Details For Silver Jewelry.If you invest more time (and/or money) into your business, don’t assume you’ll see a bigger return.

I remember coaching someone who worked on his side hustle ten hours per week, and the business earned him $10,000 for the year. He assumed that if he quadrupled his time working on his business, the income would quadruple as well. So he quit his full-time job and worked on his side business full time. But the demand wasn’t there for forty hours per week yet, so he only earned slightly more than the year before.

But keep in mind that you don’t necessarily have to replace your full-time income. What you can do is reassess your budget and decide if you can live on less. Maybe you’re bringing home $50K from your full-time job, and you’ve built your side gig up to $30K. Can you make it on $30K? If you’re married, talk with your spouse about it. Maybe you can make some cuts and live within a smaller budget because running your own business full time is worth it to you!

Just don’t forget about the extra expenses you’ll have to take on that full-time employers generally cover, such as:

  • Health insurance
  • 2% of Social Security tax
  • Matched 401(k) contributions

Down the road, your business may continue to grow and you could make the income you did before. That’s what you and I both hope for you! But it’s not wise to bank on that scenario if it’s nowhere near the case now.

The point is, you want to build your revenues up high enough so that it doesn’t feel like a terrifying leap when you leave your “safe” full-time job for your side business. You want to pull the boat up close enough to the dock so that when you take that step, you don’t fall into the water.

Step 4: Have a business savings account.

If you don’t wait for your side business to replace an income you can live off of, but you have money saved up to make it work for a while, that’s okay too. If you’re debt-free and have the savings to invest in your business, it’s completely your call. It’s not wrong; it’s a value decision. It’s your business, so you get to decide!

Regardless, it’s wise to have a business savings account on standby. If you and your family’s livelihood will depend on the success of the business, you have to be ready for a rainy day, season or quarter.

Step 5: Look for ways to work smarter, not harder.

Computer BusinessA lot of people make the mistake of believing that if they quit their full-time job to work on their business, they’ll have all this extra time to make the business even better. What they don’t realize is that when it’s your full-time gig, you’ll likely have even more demand (based on Step 2) and things to keep up with than when it was just “on the side.”

Your time is finite. You can’t physically do it all. And just because it’s your main gig doesn’t mean you’ll never want a day off, right? It’s important to have systems in place that prevent your business from coming to a grinding halt when you’re away.

So, before you make the switch, have a plan in place as to how you’ll be able to handle it all. Here are some ways to save yourself time:

  • Start automating your social media
  • Look into hiring a virtual assistant.
  • Find ways to streamline your process. For example, create a policy that you’ll only ship products on Mondays and Thursdays.

Is your side hustle ready to be a full-time gig?

So, should you take your side hustle full time? The biggest thing I want you to remember is that when your side thing becomes your main thing, it’s no longer just an optional, fun, part-time side gig bringing in bonus cash. It’s your real job with a real boss (you), and you can’t afford to take your foot off the gas. If anything, since it’s your only source of income, that’s when you need to go for it like you never have before!






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Top Tips You Need to Start Your Online Business

At this moment in time, Jeff Bezos remains the richest man globally, with his net worth assessed at nearly $200 billion. There is one fact that you might not know, he did not start his empire in Silicon Valley, but rather in his basement. Grasping the importance of technological advances, businesses now shift their focus to e-commerce. Online sales are no longer new, and they do make a good start.Word Art Crc

The competition is even more fierce, now that people need no brick-and-mortar store to sell, so you had better be well prepared.

If you try searching “how to start an online business successfully,” you will see hundreds of millions of Google results.

Google’s algorithms certainly include a volume of irrelevant suggestions, but the first few pages already serve to answer your question.

Now, the main problem is, do you want to scrape through 50 or 60 web pages to do thorough research for useful information?

The common misconception we often have is that the top Google results are the most credible. That assumption is only partly true, as businesses utilize their blog posts to get money.

Therefore, they invest in their marketing strategies and search engine optimizations.

Also, websites with higher traffic stand higher in search result pages. Popularity never stays equal to truth.

As you scroll up and down and read tons of new concepts and tips, you may get lost and unable to differentiate what is right or misleading. A lack of knowledge from the start guarantees a bitter end. Hence, you should find a mentor or a trainer from the beginning to draw out the strategies for opening and managing your online business.

It takes effort to do online businesses, so do not let those “get rich fast” people waste your time and money. Conveniently, we have reduced the hard work for you by summarizing the prospects you need to head for.

The hardest part is always the start. With courage and perseverance, you will make the change in your life. Step up and take some action!

Join Us Now on the Top Marketers This Year Online Summit – Free Webinar!  Get Started

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Additional Bonus Resources

These are some of the bonus resources that will be downloadable that you receive after joining. You will be notified how to pick these up from a specific download location after signing up.

These include Special Reports, ebooks, Ultimate Guides, and checklists.  They are usually in pdf format so that they can be viewed on any device.

1. Building the Perfect Sales Funnel

2. Business Branding

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Market Timing as an Active Investment Strategy Does Work to Improve Your Returns

Our Special Report on Market Timing includes 10 sections about how savvy investors use Trend Investing and Market Timing to vastly improve their returns.  This report does not show you the step-by-step system but it explains what Market Timing is, and how when it is combined with Trend Following, Trend Trading, and Trend Timing you can vastly improve your returns.

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If you would like a copy of this Special Report as well as our Special Report on Trend Following Strategies please fill out the request below and we will send you a pick-up link along with some other strategies to know and understand before you select.

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