You’re an entrepreneur but haven’t quite reached the point where you can quit your day job. You use as much time as you can outside of work to build something great. Your job pays your bills, but your hustle is your passion. You know you can’t continue like this forever but you’re not sure how to take the next step. Is it premature to quit now or is it time?
The good news is you’re not alone. According to a 2019 survey by Bankrate, 43 percent of people manage side hustles while holding day jobs. Your aspiration of transforming your side hustle into an empire is common too. It’s possible to grow your side hustle into a thriving company, but you must be willing to do what most people will not. You must be willing to go the distance, redefine your life, and consistently set achievable goals.
Time management. The first step in transforming your side hustle into a full-time gig through a company you create is managing your time efficiently. Most people think they’re good at time management because they can do both their day job and side-hustle while having some personal time. Some might be good, but most are not. In fact, most people manage time very poorly. Time management isn’t always about saving time.
A critical part of time management is spending the time necessary to plan and organize both your thoughts and to-do list. This is a task that you should engage in every night. It’s a time where you can set goals and prioritize tasks based on your best hours and most urgent tasks. Using a to-do list helps you overcome procrastination and enables you to turn non-priority tasks away. Once you have increased your time efficiency, you should focus on adjusting your schedule.
Adjust your schedule. Assume that you work 9 to 5 and manage your side hustle from 6 to 9 each day. You spend time with your loved ones and watch a few shows. You focus on your side hustle when everyone you know is awake. This leaves the door open for distractions and reduced productivity. Mobile push notifications are distracting and even a single buzz can kill your workflow.
To be successful, you must work strategically. This means shifting your schedule to provide for the time when you’re awake and others are not. Celebrities are well known for rising early to focus on themselves and their work when others aren’t around to interrupt. Once you’ve adjusted your schedule to successfully increase your productivity, you must increase your business.
Increase business. Quitting your day job with little work isn’t smart. It’s unsustainable and can land you in a financial hole. Your adjusted schedule should enable you to successfully manage an increased workload with minimal interference. You must increase your workload to maintain your financial stability as an entrepreneur.