It’s all about the side hustle these days. The 9-5 pays your rent but doesn’t require passion – but you can make your passion projects pay you back! For many, developing a side hustle is a step towards financial stability, and if it takes off it can even become your full time job. That said, your side hustle can also eat into your free time and leave you stressed and overworked.
Today we’re taking a look at the problem and helping you find the right balance!
Business strategy development isn’t just for the big players. It’s well worth your time to sit down and plan out what your side job’s going to look like over the next year or two. Think about what you want from it – is there a level of income you need to achieve? Are you trying to build your reputation and reach more customers or are you already swamped by incoming work? Do you have other goals like saving for a new bit of equipment or qualification, or attending a trade event or convention?
When you know what your goals are, you can come up with plans to work toward them. They don’t have to be complicated – simply being consciously aware of where you are and where you want to go can help you avoid getting pulled in directions you later regret.
Outside of your business plans, it’s important to look at the time you’re spending: on your regular job, your family or caring responsibilities, and your side hustle. It’s easy to get burned out, and however much of a passion project it is, if your side-job takes up all your leisure time it simply isn’t sustainable, physically or psychologically.
You need to value the time that allows you to recharge as highly as the time you’re earning money, or you’ll lose your ability to do anything effectively. There’s no single right answer here: you need to know what works for you, whether it’s a long walk in the country, a night out dancing or simply time spent with friends. Try and work out how much time you need simply to be yourself and rate that alongside the time spent on your responsibilities and ‘being productive’.
Focus on the Rewards:
Take time each month to look at what you’ve achieved. If you’re building a small business, you can encounter challenges and setbacks, but the rewards can also come quickly. Review each month and look at what you’ve achieved to remind you why you’re in the game – whether it’s a bit of work you’re especially proud of, a big payday, or some good feedback from your customers that reminds you you’re valued.
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