There are many people who have a full-time job plus some type of a side hustle. The side hustle may be to supplement their income and/or to follow their passion. Sometimes people find themselves unhappy or unfulfilled with their full-time employment but are unsure of how to transition their side job or hustle into a business. Here are some tips for turning what you love to do into a profitable venture.
How do you transition your side hustle into a full-time business?
- Build your team. To be successful you must build a team that can help you through the process. You can’t do it all by yourself, no one can. Building a team will help you and your business.
- Save money. Save at least a year’s worth of what your normal salary would be as a safety net. Don’t let this overwhelm you, let it motivate you to give it your all once you’ve saved up.
- Make a budget. You must understand what your revenue model looks like including all the money going in and out of the business. A budget will keep you and your business on track.
- Put a timeline together and schedule the transition. It won’t happen if you don’t plan it out and put it in your schedule.
- Build your platform. Your platform may include articles, blog posts, and videos. Figure out what your platform should look like, then build it.
Follow your passion and fight for your goals!
Kedma Ough is a nationally recognized small business funding expert and author of Target Funding, a book that helps you discover a proven system to get the money & resources you need now in order to grow your business.