Many people feel unhappy and unsatisfied with their regular 9-5 jobs. They think there is little motivation to do their work, particularly if their superiors don’t find them valuable or even acknowledge their hard work each day.
Those same individuals may also believe they live a real-life Groundhog Day, where every day is the same and can predict almost everything that happens in the workplace with virtually military precision.
Does that all sound familiar to you? If so, you might be one of the many thousands of people out there that have a side hustle which they hope could mean they one day leave their day jobs. The thing is, how do you know when your side hustle should become your full-time job?
The following signs will make it abundantly clear that now is the time to quit your day job, even though that’s a scary prospect, and focus on turning your side gig into a full-time business:
One of the most significant signs that your side hustle is a roaring success is when your income from it exceeds what you get from your 9-5 day job! It can be pretty challenging to reach such a level with a side gig, so it’s certainly worth congratulating yourself!
If your side hustle income consistently exceeds your day job income, now’s the time to hire an attorney and create a company for your business. Don’t forget to fire your employer (i.e., resign) while you’re at it.
Have you found that, since you started your side gig, you’ve had a constant stream of customers demanding to buy your products and services? Plus, have you done virtually no marketing and instead let your reputation and word of mouth do the marketing for you?
If the answer to both questions is yes, it’s a clear sign that you might want to quit your day job and solely focus on what is now your new business and primary source of income.
It’s no secret that many people find it tough to make ends meet, especially during the COVID-19 pandemic, which has seen thousands of people get laid off. You’ve probably thought to yourself that your income levels might not be consistent – especially these days.
Yet, you aren’t panicking about money because your monthly expenses get paid, and you have plenty of surplus money thanks to your side hustle. In fact, you could even comfortably survive on the income from your side gig alone.
At first, you might have only marketed and sold your products and services to people you know, such as family and friends. Today, the things you sell are gaining widespread attention from far and wide – even from other countries!
You know you’re doing something right when strangers from far-flung corners of the globe are placing orders with you despite never marketing your brand in such locations! You may even have done a Google search on your name to find what you sell discussed everywhere!
The trouble with entrepreneurialism is that many people have excellent ideas for new businesses, products, and services. But, most of those individuals have no self-control and end up suffering from burnout because they did too much in a short space of time.
If you’ve got a sensible approach to business, it’s a tell-tale sign that you should turn your side hustle into a full-time, going concern and concentrate on growing what you’ve built thus far.
Another reason why you need to upgrade your side hustle into a full-time business is when large, established companies and corporations keep offering to buy your concepts. It’s quite a flattering thought when that happens.
But, it also means the products and services you sell have excellent potential, and your income will likely keep growing exponentially. It can be tempting to sell your concepts to other companies, but it’s not a decision you should take lightly.
For many people, a side hustle is a means of generating some “pocket money” alongside their primary incomes. Have you got to a stage where your customers demand more quantities of your products and services than you can physically provide?
If so, that’s another tell-tale sign that you need to quit your day job and focus on turning your side hustle into an expanded full-time business. You may even be at the stage where you need to hire people to help you!
Have you noticed that your name always gets mentioned whenever people have certain problems that need solving with specific solutions? Plus, do people always come to you first for advice and support instead of other well-known figures in your industry?
In those cases, it makes sense to concentrate more on this work and less on your 9-5 employment. You could ask for reduced hours at work, of course, but realistically, you will probably need to quit your day job and focus on making your side hustle a full-time business.
One of the reasons people buy from certain brands is because of the attention to detail and craftsmanship demonstrated in the manufacture of their products. It’s also a similar case for people that provide services as well.
If you have a true passion for what you do, and you make no attempt at hiding that fact, such a trait will likely be part of the reason for your side hustle’s success.
Lastly, one final reason you should turn your side hustle into a full-time business is when you’ve made such an impact on your industry that established brands want to try and emulate what you do and offer consumers!