How do you transition out of a full-time job and into your side hustle full time? What does that even look like and how do you get out of that job without burning bridges?
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How to Go Full-Time in Your Side Hustle
You’re thinking about how to transition out of your full-time job and going full-time in your side hustle. Congratulations! This is probably one of the best and most exciting things that you can do when you have a side hustle.
But before you make that step, let's look at what you need to do beforehand. Make sure that you're setting yourself up for success instead of just jumping straight in feet first without thinking about any of the possible implications and consequences of doing so.
Do This Before You Resign
Before you resign from your full-time job, think about a couple of things, like what bills do you need to make sure are covered?
Generally, when you're thinking about quitting your job, you wanna make sure that your side hustle is at least covering your bills, or your half of the bills if you’re in a relationship, flatting, etc.
When I quit my job that's exactly where I had gotten to in my side hustle business. I had replaced half of my income. I knew that my bills were covered (relieving the initial pressure to make money) and as soon as I went full-time in my side hustle I knew I would be able to increase and replace my income from my full-time job.
There is definitely a time where you can only do so much part-time work in a side hustle before you can progress further. If it's something that you're enjoying doing and you wanna pursue it full time then you need to make a plan.
Think about what that looks like.
Stash Aside Some Savings
I encourage you to make sure you have at least a month’s worth of savings hanging out in the bank. Maybe even a little bit more.
You can get a gauge for what that might look like for your own business based on the consistency of clients and the consistency of gigs that you've currently got coming in. If you can project that, you know that at least for the next six months, you've got a solid base of clients, then you may decide that you only need one month’s worth of savings.
If you want to accelerate your timeline and don't necessarily have a solid client base yet, then I would suggest having at least three months’ worth of savings in the bank just to ease off the pressure for you when you go full time.
And there is definitely pressure when you quit your job and go full-time in your side hustle to regain that lost income. Make sure you've got that in place.
There’s also another option to consider. You may want to approach your employer to transition to part-time instead of full time if it’s an option you think they would consider. Be careful when broaching this with your boss. Worst case scenario, it could lead to you leaving your job sooner than anticipated. You know your company and boss better than anyone else, so use your judgement on this.
If it is an option for you, this could provide a monetary buffer while also maintaining your contacts. Of course, this is only a temporary option since the ultimate goal is to be 100% supported by your full-time side hustle. It may make sense, though, if you need to maintain networks.
Plan Your Resignation
In terms of the actual resigning piece, look at your calendar and work out when you wanna do this.
For me, when I went through this process I gave my company two months notice. I actually only needed to give them a month’s notice, but I wanted to put a date to it for myself that was comfortable so that I wasn't feeling like “Holy crap this one-month time frame is just going to come up really quick” and it did. Even the two-month notice went fast.
Do whatever makes the most sense to you. Pick a date and then work backward.
What do you need to do to have all of these things in place before you quit your job?
Don’t Burn Bridges
One tip that I can give you is don't burn your bridges.
Don't leave on uncomfortable terms. Make sure you leave things on a happy, positive note. In most instances, your company will be happy to see you pursuing your own thing. It’s a different situation altogether when you quit your job to go to another company… that can cause issues..
Keep things amicable because you never know when you might want to connect with their network. You might want to chat with your boss about something further down the track.
Don't burn any bridges if possible.
What Does Freedom Look Like?
Now that you've quit your job, what do your days now look like?
Well I can tell you this, for the first week just get out of bed when you feel like it. Take the time to bask in the fact that you’ve quit your job and gone full-time in a side hustle that you started eight months ago for example.
Bask in that, but don't bask for too long. You definitely wanna set some routines as quickly as possible. The routines I set for myself were very much about making sure I had set working hours (which I still have). I know my butt is going to be in my office chair between 8:00am and 2:00pm Monday to Friday, and that I am working with clients or students Tuesdays, Wednesdays, and Thursdays. That's what it looks like for me.
You have to make this decision early on.
Remember the great thing about going full-time in your side hustle is that you get to choose what your hours look like. Even when you're working with clients. You still get to set the parameters.
Figure out what that is and then stick to it. Don't get lazy and get out of bed at 10:00am unless that is exactly what you wanna do and you’re more of a night owl.
Decide your work hours, set your routines and you’ll see success faster.
Communicate Your Boundaries
It’s about figuring out what your routine is going to be, what your hours are, and then making sure that you communicate them to the people that need to know. Particularly if you're working at home, make sure that you have set some boundaries around your work space.
You should only be in your work space when you're working. If you're not working, get out of that work space. Otherwise you can end up working 60, 70, 80 hours a week. Particularly if, like me, you love what you do.
Recently, I set some really strong boundaries around the time that I'm in my office. Otherwise, I would end up being in here every single day, all day, until 10 or 11 o'clock at night because I just love doing the things I do.
I’ve set really clear boundaries and communicated them to my husband. He can also keep me accountable and just say “Hey, aren't you supposed to have been finished by now? We were going to go and do something.” It’s a good reminder to simply stop what I’m doing and spend time with him, as well as stick to the boundaries I’ve set.
Clear boundaries make for a smooth transition
Make sure that you set boundaries with your clients, too.
If you’re only working with clients on Tuesdays, Wednesdays, and Thursdays, what happens if an emergency comes up with a client? How will you manage those types of things?
Make sure you have some really clear boundaries and some really good set routines. This allows you to transition into working from home and working full-time in your side hustle easily.
Many people dream of being able to quit their job and go full-time in their side hustle. It is one of the most exciting things you can do. When you transition out of your full-time job into doing something that you have created, it is the best feeling in the world.
I'm excited for you!
Action Step
Your immediate action step is to create your side hustle transition plan.
Answer these questions:
- What do you need to have in place before you quit your job?
- What's your exit date?
- What are your routines going to be when you work from home?
- What boundaries will you have in place?
I’m excited to see your progress on this journey! If you’ve got questions about your next steps, leave a comment below.
