Are you trying to turn your side hustle to a full-time gig? You’re not alone. Millions of people are trying to supplement their income by starting a side business out of a hobby or some idea they got while they were overworked by their main job. However, as the side hustle grows and steadily drives revenue, a lot of people are scared to take the first step towards becoming an aspiring entrepreneur and swap their job for a side gig.
Whether you’ve come up with an innovative project or a service that started making you money and makes you happy in the process, it’s important not to give up on it. New projects seem intimidating and time-consuming, but perhaps it’s your idea that can solve the problems of many people and make their job easier.
Continue reading our guide that will show you how to turn your side hustle to a full-time gig, through proven tips and reliable tools that will make your every day as an entrepreneur easier.
Tips to Turn Your Side Hustle to a Full-Time Gig
Did you know that 45% of working Americans have a side business, according to self.inc? If you’re one of them, here’s how to transfer your side hustle to a full-time gig!
1. Discover Your “Why”
When you started your side hustle, you likely only wanted to generate some extra money on the side to save up for the trip, threats, or emergencies. That said, you probably didn’t have any bigger plans or ideas.
If you decide to move forward with your idea and turn your side hustle to a full-time gig, you need to understand that you’ll have to rely on the monthly revenues to survive and that the income of your business will be your main source of income.
That’s why it’s important to answer one important question, “Why?” Every business needs a story, and so does yours. Why are your customers going to benefit from your product? Why are you solving the problem that you’re solving? And finally, why are you doing everything that you’re doing?
Most people start side businesses because they want to feed their family and because they love what they do. Vague reasons simply aren’t enough, if you’re going to sustain yourself from what you’re doing, you need to have a good reason for starting it. That way, you can revisit that reason when things get hard, when revenues drop, when you face difficulties, or even fight burnout.
2. Set Goals & Milestones for Your Business
Setting a plan of development for your side gig is one thing. Still, considering you’re looking to transition from side hustle to a full-time gig, we assume that you already have a plan for your business development.
Let’s split your business plan into smaller goals and milestones which you can gradually achieve and track the results. To make it easier to keep track of your goals, you can make use of a project management tool like Kanban.
That way, you can watch your business grow step by step and incorporate changes that you feel are slowing down your growth. Don’t forget to assign a budget to each of those milestones and keep your finances organized.
3. Set a Deadline to Quit Your Job
According to Digital, around 32% of Americans quit their job to start a side hustle. A lot of people who want to turn part-time to full-time become scared of quitting their job and continue postponing it in fear that everything will fall apart.
That’s why you need to set a definite deadline to quit your job as you’re turning your side hustle into a full-time gig. Create a transition period during which you’ll learn new skills, scale your business, make meaningful connections, and become confident in your business. Don’t put your resignation off any day further than the deadline you set.
4. Develop New Skills
Working on your own business means becoming dedicated to keeping the growth continuous. Innovation is an important asset to every business, which is why it’s necessary to keep up with trends and emerging methodologies. If you offer consulting services, you’ll have to learn new tips and tricks to give the right advice to your clients. If you own a marketing agency, perhaps there’s a new content strategy that other agencies are also adapting.
5. Network With Like Minded Entrepreneurs
New entrepreneurs often have the wrong picture of the competition. Instead of seeing competition in more successful business owners, you should see a mentor who already went through the same struggles and challenges that you’re encountering now. Listen to every piece of advice they give you and share knowledge. Perhaps, you will meet an important person who you can collaborate with and grow your business.
6. Learn More About Your Market
Every small business owner has a goal to make their gig grow into a successful company. To grow into a successful company, the business needs to have clients and loyal customers who trust your brand and happily come back for more.
But, to learn more about what your customers want, you need to learn more about them and the market you’re trying to enter. There’s a whole new perspective to your customer base once you turn your side hustle to a full-time gig, and it’s important to be aware of that.
7. Analyze Your Weaknesses
Your weaknesses may not be visible as you’re working on the side, but as you turn your side hustle to a full-time gig, they may become more prominent. One of the best ways to turn your weaknesses into strengths is by outsourcing them to your employees, peers, or third-party freelancers who know how to take care of the tasks that you’re weak at.
Meanwhile, get consulting or another type of help that will help you overcome the weaknesses that pose risk to your business.
If you want to turn your side hustle to a full-time gig, you must know that it’s a very challenging but rewarding task. If you still don’t have any side hustle ideas, you can join a gig community and see what jobs are suitable for your skills and profession. One thing is for sure, organizing your side hustle would be much easier with software based on Kanban methodology. Kanban Zone is one of the most flexible productivity tools that will help you organize your business. Join us at Kanban Zone and begin transitioning your side hustle to a full-time gig!