In our program the Business Success Network, we love working with Side Hustlers – people who are working their dream gig on the side while holding down a full-time gig that they greatly dislike. (Trying to avoid words like Hate – they just don’t serve me)
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If you are SERIOUS about making your Side Hustle the Full Time Hustle – then here are the steps we take our clients through. I need to them to know the following:
- Be crystal clear on your WHY. What is your purpose – personally, and does it align with your business model. If the side hustle is just a way to make a buck and you aren’t passionate about it – your business will never be truly successful. You will get burned and give up when the going gets tough – and it will, get tough that is.
- Ensure you have a viable business. Just because it’s a great idea, does not mean it’s a viable business model. Perhaps your market is too small or too saturated, you can’t differentiate yourself enough from the competition or you have a time sensitive thing whose time is almost up. You need to crunch the numbers and do some market research.
- That you need to be a risk taker. I don’t know one business owner who is risk adverse.
- That you need to have a success mindset. You must focus on the long haul and not get hung up on the bumps in the road. You have to BELIEVE you will be successful.
- You have capital enough to survive without a paycheck for a while – because most of your $$ has to go back into the company – typically.
- You need to deeply understand your customer and their journey – how they will get to you, what you will do once they find you and how you will nurture them. What will their customer experience be like?
- Chief Cook & Bottle washer – If you don’t have the capital to pay for help, do you have the talent, will and drive to do it all?
- Are you open to coaching and learning? If you have a know it all attitude – you are setting yourself up for failure. Trust me – I’ve been there and it wasn’t pretty.
- Are you willing to fail – but more importantly, do you have the mindset that failure is simply an opportunity to learn and grow.
- That you need to spend just as much time working on your business in the beginning as in it.
- You need to be able to sell or have a process that sells your product for you – i.e. online platforms etc.
- Progress NOT Perfection. You need the minimum viable product to launch – it doesn’t need to be perfect, you can always adjust, fix and change as you go. Besides you need feedback from real life buyers!
Side Hustlers, you can make the transition, and the time is really up to you. If you are focused on the end game, that transition will be far less painful than if you look at ALL you need to do and it will go a lot quicker.