Side Hustle to Full-Time Business in 8 Steps ...

Side Hustle to Full-Time Business in 8 Steps

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So, you’re stuck in a 9-5 that you hate. You know you want more freedom but you just don’t know how to get it. You want financial freedom and time freedom; but how do you get it?

By creating a side hustle and taking it full-time, that’s how.

There are several reasons why you’re probably staying in your job although you hate it.

  1. Money: We all got bills to pay!
  2. Confidence: You just lack the confidence to take the steps you need to make your dream a reality.
  3. Knowledge: You don’t know what you want or how to get what you want if you know what it is you want, so you just stay doing what you know.

You see, if you never figure out what you want, you’re just going to stay stuck with what you have. So, on your journey to freedom, this is your first step.

Side Hustle

Step 1: Know What You Want

You’ve got to figure out what you want (the more detail the better) for every area of your life. Decide what you want your life to look like. What type of work do you really, want to do? How do you want to help people and give value? How much money do you want to earn? Where do you want to live?

These are just some of the questions to answer when you’re figuring out what you want, for your life.

Step 2: Define Your Why

You must know why you’re doing what you are doing. There is no point wanting something but knowing exactly why you want it.

What’s worse is so many of us think we want something, but when you look at the “why”, it becomes clear that we don’t want it, somebody else in our lives wants it for us.

You must make sure what you want is for you, not what you think you should have or do, but what you really, want for your life.

When you figure out your “why”, you get clarity on your goals and what you will be working for. Your why will keep you on track when things get tough.

So, are you doing it to be debt-free and not live paycheck to paycheck? Are you doing it so you can travel the world, have more time with your family or help a community you really care about?

Step 3: Know Your Purpose

Knowing your purpose will help you to further clarify your why. However, the reason I have it as step 3 and not 1 or 2 is because I think it takes time to figure this out.

It can be a fun journey figuring it out, but it does take time and self-discovery. You can get closer once you figure out what you want and why you want it because there are clues in them to what your purpose is.

Remember your purpose can be ever-evolving or it can be a single thing that takes many forms. All you should do is figure out how you and the talents you have can give value to the world.

Step 4: Get Your Finances in Check

You have to know exactly where you stand financially and then set some goals. So, the basics are knowing exactly what your living costs are and how much debt you currently have. Once you have those 2 figures you can start to create some goals.

The first goal you can create is how much you need to earn on top of your current salary to pay off your debt. The second goal number is how much you need to earn from your business to replace your current salary.

Step 5: Create a Plan

This is where you sit down and plan how you will get from where you are to where you want to be. Simple Right.

You know what you want, you know your “why”, now it’s time to decide on the how.

Spend some time researching options for different income streams. For what you want do you need to develop new skills, make new contacts? Plan it all out.

Step 6: Develop Your Skills

Your “how” should tell you where you have a skills shortfall. This step is all about going out and developing those skills.

There are a ton of ways to develop new skills online. So spend some time learning the skills you need to make you confident in your abilities.

Remember you will continue learning new things throughout your journey. This is just the groundwork to get the building starting on strong foundations.

Step 7: Start and Build Your Business as a Side Hustle

Yep, this is it. You’re going to start your, side hustle that you will eventually turn into a full-time business.

Starting your business on the side gives you the ability to keep your financial security now while building your future financial asset.

You will build your business until you have reached your financial goals and have replaced your income with your business income.

Step 8: Quit Your Day Job

Once you’re making enough money to cover your business costs and pay yourself as well as enough profit to reinvest in your business, consistently every month for at least 3 months then you can hand in your notice.

If you’re looking to get started with any of these steps, check out the Build Your Business Vault – where you’ll find templates, worksheets and checklists that will help you get started!

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