How To Turn Your Side Hustle Into A Full-Time Job

The gig economy is on an upward trajectory, and the phenomenon of the “side hustle” won’t be going away any time soon.

Many people have side hustles, which can include hobbies, part-time professions, or even small business activities. Fortunately, this is the best time to be alive if you’re looking to turn a hobby into a side hustle, or a side hustle into a full-time job.

If you want to make a full-time job out of something you love, it’s important to take a deep breath first. That doesn’t mean it’s unrealistic to try it, but it does mean that if you try to rush into it, you’ll likely experience something bad that may put you off from trying to make a job out of something you love in the future. It’s always best to plan for the transition well in advance. Try following this simple advice provided to Business Insider by one finance expert and successful entrepreneur.

  1. Start building your emergency fund. Before you quit your job, save up enough money to be able to stay afloat while you’re getting started. Entrepreneurship is difficult and risky, and even if you’re amazing at what you do, learning the ins and outs of entrepreneurship will be very stressful if your next meal is on your mind. It’s important to have at least some peace of mind while you are taking a financial risk.
  2. Save your side hustle income. If you’re still working on your day job, what better way to start saving than taking all your side hustle income and putting it into a savings account? Saving money is hard, so why not budget what you make from your job for living expenses, while saving your side hustle income to make your dreams a reality?
  3. Invest in yourself. While you’re saving money and preparing to quit your current job, you should invest in things that will help you with your new career. This includes educational material, classes, courses, conferences, and anything else that will help you with your new career. When you quit your day job, you’ll become a completely different kind of worker, and every part of what you do will be your responsibility. Every bit of preparation helps.
  4. Wait until your side hustle makes you more money than your day job to quit. This may seem like a bit much to some people, but it is the surest way to make sure your transition is smooth. If your side hustle is making even slightly more than your job, it’s a good sign that it’s time to go all-in on the “side” hustle.
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5 years ago