So you’ve been working that sidehustle patiently waiting for it to be the “right time” to step away from your security blanket and really go all-in. But when is the right time?
There’s a fine line between being financially responsible and letting your comfort zone hold you back from what you’re truly meant to do and from building the legacy that you’re meant to build.
So let’s walk that line together and go through 3 clear signs that you’re ready to make that leap and go for it.
You have the financial runway.
Something that I see a lot with entrepreneurs ready to leave their full-time jobs is that they actually quite like their current jobs. They just know that there’s something bigger out there for them. Which is totally the opposite of my own experience, where I quit a toxic work environment after only 8 months on a limb… with zero plan… So instead, I went and travelled South America for a few months while I figured it out.
While what I did worked for me, having a financial runway – enough money intentionally saved up to support your lifestyle and business needs for a period of time – would have been much less stressful.
But how much should you have saved up?
Honestly, it depends on your situation. If you have a family to support, education or a mortgage to pay for, the more saved up, the better. Plan for at least 18 months worth of savings.
That said, you do you, girl. If you need to say “screw the security blanket” and give yourself a serious deadline to “make it work”, maybe aim for 6 months instead.
Your sidehustle needs you more than your boss does.
As you’re building your financial runway, odds are that your own business is picking up. At some point, the scales shift and your time is being more and more demanded by your sidehustle. At some point, you find yourself spending almost as much time, if not more, on your own business after regular working hours than you do at your full-time job!
There comes a moment where you realize your sidehustle can be a full-time hustle, and better yet, it’s paying like one.
The need for MORE overtakes the fear to go
Now let’s talk about the “what ifs”.
- What if it totally flops?
- What if I can’t match my income by my deadline and have to go back to work?
- What if I disappoint my family?
Eventually – and the timing totally depends on your current situation – those questions turn into:
- What if I can totally do this?
- What if I build the most amazing business this world has ever seen?
- What if I can seriously help people?
- What if I end up wildly successful and am able to support everyone in my family?
All of a sudden, it’s scarier to stay where you’re at than it is to change. All of a sudden, you’re ready.
HOT TIP: So you’ve decided you’re ready? Go in with a plan.
I see a lot of my clients that are transitioning from full-time employment to full-time entrepreneur struggle with their day-to-day once they’ve made the leap. So something that I’ve started to do, and what I recommend you try is building out a daily schedule. Time block your client work, your content creation, your financial review.
Give yourself structure, plan ahead, and build your empire. Oh, and congratulations!
Sarah Williams is the owner of Rebel Office, an online resource and community platform for ambitious, female entrepreneurs embracing the laptop lifestyle and using their businesses as a platform to design their dream life. rebeloffice.ca