We all love a good side hustle, right?
Who doesn’t love to do something on the side to make some extra cash AND feed our passions. But, when does your side hustle turn into something a little bigger and have the potential to be your full-time job?
This month, I left a position at the Wharton School at the University of Pennsylvania. I know what you’re thinking… “what are you doing leaving a position at the number one business school in the country?” Let me explain, I LOVED my job! I love the students, coworkers, and the institution BUT I was starting to love my side hustle more. My coaching business, equipping twenty somethings with the tools to thrive in both their personal and professional life, was taking off and the results I was getting from my own clients was incredible. Not to mention the flexibility to spend more time with the people I love and on self- care was unmatchable. I will say, I didn’t wake up one morning and decide my business was going to my full time gig. I spent a lot of time deciding if this was what I wanted to do. Was it silly to leave a job I loved to do something I loved more? If you’re thinking about taking the plunge to go out on your own whether full time or part-time, I challenge you to ask yourself the questions below. These are the exact questions I asked myself before taking the leap.
What local or online resources do you plan to use?
Although I have worked with business students for many years, my education and training is in higher education and counseling. I knew I needed something more and am currently taking a few courses and using local resources. Small Business Development Centers offer some pretty incredible free or affordable services for new business owners.
How do you deal with uncertainty?
I like to consider myself an unplanned, planner but in the world of business things go up and down pretty quickly. One day things go as planned and the next a little crazy. You have to be comfortable either going with the flow, using your back up plan, reaching out for support, or going on a little emotional rollercoaster.
Are your finances in order?
This is really a personal decision on the finances front, but really take the step back and evaluate where you are. Do you have clients or services lined up? If not, do you have another source of income for a few months? You need to have a game plan for where the money is coming in and at the very least how you are going to pay your bills until it starts flowing.
How will you hold yourself accountable?
In many cases, you are your own boss. What is your game plan for holding yourself accountable for tasks and determining what needs to be done and when? It’s the worst just staring at your to-do list and being overwhelmed and feeling a little paralyzed.
How will you use and reach out to your support system?
We can’t do everything alone-it’s just a fact. Finding people, you can trust and rely on is really important. They can help you set priorities, listen to you go on your emotional roller coaster and provide some insight you may not have thought about.
What is your plan for self-care?
There is a lot of pressure either self-imposed or not to make your side hustle work but you can’t forget about self-care. Make a plan for breaks, healthy meals, gym time, coffee dates with friends and whatever else you need to motivate you. If you’re working in a solo business it can be a little lonely so make sure you’re getting out there.
When will you re-evaluate your plan?
Whether your business is thriving or not, set a date to check in with yourself and evaluate. Is the business where you want it to be? Are you still doing what you love? Does something need to change? Do you need to hire some help? Taking the leap from side hustle to full time gig is not easy and it’s important to take the step back and ask yourself these questions. If you decide now is not the right time, that is OK. It doesn’t mean in won’t be in a few months or year. Just continue to ask yourself and check in to see where you are in the process. Are you starting to think about pursuing your side hustle full time?
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Hi Alissa,
Wow, it’s great that you were able to leave a job you loved, for a job you loved more.
My story was not so positive, I really did not love my job at all. I just enjoyed the people I worked with, which is probably why I hung on as long as I did. My 9-5 was literally causing me to fall apart. More about my story here: “The Miseducation & Misemployment of Nadalie”
Awesome list of tips!
I LOVE that you mention self-care! It’s so important. When you no longer have to wake up, shower and get dressed up every weekday you can easily lose yourself. You can forget to just take time for yourself to care and not just work, work, work, work.
I think hand in hand with self-care, is self-love. It’s easy to get frustrated or disappointed with the pace that things take to take off.
Thanks for sharing, I enjoyed it and I will share too.
Nadalie, It’s All You Boo
NEW POST: 26 Inspiring Self-Love Quotes
ps. love the name of your blog, it really is okay if everything isn’t okay!
Thank you so much Nadalie. I think it’s a really hard decision especially when you love the people and to be honest people and managers are what retain employees often more than the job itself.
Self care is so so important and I completely agree when you hit the point where you don’t care anymore.. something has to change. I couldn’t agree more that self love and care go hand in hand.
I didn’t know you worked there! I just visited there a few weeks ago (I work for The University of Western Australia, and UWA has a partnership with Penn)! Anyway, great post! Good questions for self-evaluation.
Ahh! That’s so amazing. We totally have to connect. We partnered with UNSW and Melbourne for the Wharton exchange programs.
These are all so important–especially evaluating your finances and taking time for self care. I’m currently in a full time job and don’t know if I’ll ever take the leap to full time photography, but I like to think about it and these tips are great!
It wasn’t easy to take the leap. I felt like I was over analyzing everything and then these few points are what really hit home. It was so hard to give myself the permission to try. I’m sending you lots of good vibes and hoping you can make the leap
Great list! It’s a great idea to do an objective evaluation before making a big jump into self-employment.
Thank you so much Mercedes! It’s so helpful to have an objective and makes the world of difference.
I love this blog! It is so inspirational
Thank you so much Elyse! That means a lot!
What a great post. We are trying to figure out a way to have my husband come home full time, but our biggest hurdle besides the scariness of leaving your job when you have a family is the health insurance. It’s so expensive to get on your own. Thanks for some awesome things to think about today.
It’s so so expensive. We are on my husbands healthcare since my work one was crazy expensive. That’s a really tricky one especially with kids. Does his work offer part time benefits?
Great List of things to consider that people might not be thinking about!
I envy you so! That’s so great you’re doing what you love full time. Someday I hope I can take the plunge too! I have a long way to go! Thank u for your advice and insights!
I’m so excited for you for that possibility of pursuing what you love full time. It took me awhile to get the courage to even think I could put myself out there and do it. I’m rooting for you!
This is such great content on this subject – I wish I’d had it when I was starting to transition to my “side hustle”. Awesome!
Thank you so much Haley! It’s so hard to know when to take the leap and I’m glad you found these useful. Love that you’re also doing a side hustle
Great list- I’m contemplating (more hoping) I can leave my part time job to do photography. Theres so much to think about!
I’m sending you so much love and good vibes hoping you can make the leap too!
Great words. In the creative industry this is wonderful advice.
It’s so hard to know what to think about and thank you for the kind words!
I love this! Go you for following your dream!
Thank you Meghan!
These points are so good! It’s smart to think it through before making the jump!
Thank you so much Kathryn!!
Congratulations on going full time, Alissa! That really is an amazing accomplishment. I currently work full time on top of doing photography full-time and it isn’t easy. My goal is to hustle until I can financially and securely be successful in my business. The uncertainty is what gets me the most. I probably could have quit 2 years ago, but with kids, a mortgage, a car payment etc. it’s just not easy! These points are such great things to consider, though.
These are great questions to consider everyday when changing jobs and before starting your side hustle. Great article!
These are all such important tips!
Oh my goodness I love this piece! When I turned my side hustle into my full time gig I was nervous but my inner boss kicked in and I LOVE my life so much more now.