Is It Time to Say Goodbye to Your 9-5 Job and Embrace Your Side Hustle?

So, you’re thinking about leaving your 9-5 job and going all in on your side hustle? Well, before you take the leap, there are a few things you need to consider. Let’s break it down and see if you’re really ready to make the move.

First things first, why do you want to quit your 9-5 and dive into your side hustle full time? What’s your motivation? In the U.S., almost a third of people say they want to be their own boss. But maybe you have other reasons, like wanting to earn more money or spend more time on your own business. Whatever your reasons, it’s important to be honest with yourself about why you want to leave your job.

Next up, do you have a solid business model that’s been tested? Did you know that nearly half of businesses fail within their first five years? But don’t let that discourage you. Instead, use it as motivation to learn from others and minimize risks. It’s a good idea to aim for making about two-thirds of your full-time job’s salary for a year with your side hustle. And don’t forget to save up some cash for emergencies. Having a financial cushion can give your side hustle the time and attention it needs to succeed.

Running a business can take a toll on you mentally, emotionally, and physically. There will be tough days, but staying positive and consistent is key. It’s not just about motivation; it’s about putting in the effort even on the hard days. That’s what separates the side hustlers from the full-time business owners.

Now, let’s talk about support. Starting a business isn’t just tough on you; it affects your family too. You’ll need your spouse’s support, especially in the beginning when you may have less time and energy to spend with them. And don’t forget about getting support from others who have been in your shoes. Whether it’s fellow entrepreneurs or industry peers, their advice and feedback can make a world of difference.

Lastly, what’s your backup plan? It’s important to be realistic and have a plan in case things don’t go as expected. And remember, it’s best not to burn bridges with your former employer. Give them proper notice and continue to show up and do your best until it’s time to leave.

So, if you’ve got a proven business model, the right support, and a backup plan in place, you might just be ready to take the leap and go all in on your side hustle. It’s not an easy decision, but with careful consideration and preparation, you can set yourself up for success. Good luck!