Many people want to start their own business but aren’t quite sure how to make their dreams a reality. A recent study from Bentley University found that over 66% of those aged 18 to 24 want to start a business of their own. Yet too often, aspiring business owners give up before they get started because the task seems too daunting.
Building your business on the side can be a great way to get your feet wet, while giving you time to save money and build sustainable streams of revenue. If you have a full-time job in a related industry, you’re also likely learning valuable skills that will translate to your business. But how do you know when you’re ready to quit your job and focus on your dream full time?
There’s no easy way to know for sure that you’re ready to make the leap but there are a few key factors that can help you feel more prepared. Learning to manage your time, having a clear picture of your long-term business goals, and building a steady flow of customers are all positive signs that you are ready to make your side hustle your main hustle.
Check out this infographic below to learn tips for building your side hustle while working full time:
- StartupNation.com. “10 Steps to Start a Side Hustle (While Working a Full-Time Job)“
Meredith Wood is a small business owner, the editor-at-large at JustBusiness, and VP at Fundera.
Meredith is the founding editor of Fundera and has specialized in financial advice for small business owners for close to a decade. Meredith is frequently sought out for her expertise in small business lending. She is a monthly columnist for AllBusiness, and has contributed to or been featured in the SBA, SCORE, Yahoo!, Amex OPEN Forum, Fox Business, Fortune, American Banker, Small Business Trends, MyCorporation, Small Biz Daily, StartupNation, Manhattan Chamber of Commerce and more.