Running a business while working full-time is tough but also necessary. Why do it?
Feel trapped working full-time but dreaming about pursuing your own thing? Sick of punching the corporate time clock to enrich someone else’s bottom line? Stuck without enough income security to take the entrepreneurial leap?
You CAN have it all - a reliable paycheck and an additional thriving business you control. The solution is concurrently building a side hustle while keeping your day job.
This allows you to boost income, expand skills, follow passions and shelter yourself from occupational uncertainty - the best of both worlds!
In this post, I break down step-by-step how, with the right blueprint, you can secure your financial future by launching and scaling a profitable side hustle too without burning out. From debunking myths about job stability to laying the groundwork for your new enterprise, let’s unlock YOUR potential! Running a business while working full-time is doable.
It’s time to escape the hamster wheel of relying on traditional employment alone. Read on to discover how you can build freedom and fulfillment on YOUR terms through side hustling!
You need to Master Running a Side Business While Working Full Time
The realities of job security and the case for concurrent entrepreneurship. I used to think my office job was as stable as bedrock. Put in my 40 hours, collect a paycheck every other week, rinse and repeat until retirement. Sound familiar?
But times have changed, and traditional employment just doesn't provide the guarantees it once did.
Let's chat about what's really going on in the modern workplace and why having a side hustle is so important. Running a business while working full-time in my opinion is a necessity rather than an option.
Debunking Job Security Myths: Laid Off to Lifted Up
When I got laid off from my senior level role of 5+ years, I felt like I got punched in the gut. Hard.
I thought I was irreplaceable! As I looked around at all the suddenly unfamiliar faces of my former coworkers, though, it sunk in that no one is safe.
But losing my job was a wake-up call. I decided to take control of my financial future instead of leaving it in someone else's hands. I took my career know-how and started my own consulting biz.
Now I call the shots.
Getting laid off was actually the kick in the pants I needed to finally go all-in on my entrepreneurial dreams. It was not easy, suffice to say I had to get another job because riches did not come my way as fast as bills were piling up.
If you don't want to be blindsided like I was, use your off-hours to start cultivating a second income stream. When you take small steps over time to build your own thing, you'll be in much better shape if you ever lose your primary job. Don't wait around for the axe to fall before making moves.
Job Stability Myths Debunked: Why Your 9-to-5 Isn't Enough
Many of us operate under false pretenses of job security. The comforting idea that as long as we work hard and play office politics, we'll retire from the same company after 30+ years of service.
But I'm here to splash cold water on that myth. The days of spending an entire career at one company are fading fast. Corporate bottom lines and bonuses come first, while loyalty to employees has gone out the window.
Despite what HR and EDI leads will have you believe, to a corporation you are cost with a very specific number of dollars attributed to you on the P&L.
Relying on one paycheck to fund your life is incredibly risky. I've seen too many friends get unexpectedly downsized in their 40s and 50s to have any trust in the system anymore.
Don't be a sitting duck. Use your precious free time outside work to plant the seeds of a second income stream. That way if you do lose your job for reasons beyond your control, you've got an entrepreneurial safety net in place. Besides, as we'll discuss, running a business while working full-time carries a lot of advantage to your current desk job as well.
The Necessity of a Side Hustle When Working Full Time
Gone are the days when you could rely on a single employer to take care of you for your entire career. Truthfully, this approach is the indoctrination we went through in school and uni. It’s false.
The economy has changed, businesses have changed, and jobs are no longer as secure as they once were. This new reality requires a backup plan in the form of a side hustle.
Building a side business alongside your full-time job not only provides financial stability when you need it most, but also allows you to develop professionally. It's a win-win scenario.
Crafting Financial Fortitude with Dual Incomes
Maintaining multiple income streams is like having a robust emergency fund, but better.
If you lose your job, you've got cash flow coming from your side hustle to keep you afloat. And if you don't lose your job, then you've got extra money to save, invest back into your business, or use to splurge on yourself.
Juggling two money-makers isn't easy, but here are some tips:
- Get organized with spreadsheets to track income and expenses from both income streams. Seeing everything laid out provides clarity.
- Automate as much as possible when it comes to accounting, invoice payments, etc. Tech saves you time so you can focus on big picture stuff.
- Pay yourself first before reinvesting business profits. Set money aside for taxes too. Don't get caught unprepared!
Expanding Your Skills While Working Full Time via Side Gigs
We talked about money, but as you and I know: Money isn’t everything (it’s not even enough *he said sarcastically*).
Having a side hustle forces you to learn new skills beyond the scope of your corporate job. And the experience and abilities you pick up running your own business make you more valuable as an employee too.
My social media skills were pretty basic before launching my coaching business. But creating content, running ads, building an audience, and selling services online required me to become an expert.
Now I manage my company's social channels in the evening and almost on autopilot.
When your side hustle exposes you to new technologies, strategies, or ideas - find ways to apply that at your day job too. Make yourself indispensable through constant skill expansion across both professional roles.
Digging Deeper: Personal Growth Benefits of Running a Business While Working Full Time
Like I said, a side hustle isn't just about padding your wallet (although that is a nice perk!).
Running your own thing also fuels personal growth by allowing you to pursue passions, boost confidence, and develop character. These priceless intangible benefits come in addition to the cash.
The Non-Monetary Riches from Running Your Own Venture
Building a business requires creativity, resilience, vision - qualities that spill over to enrich the rest of your life. With each milestone my agency hit, not only did my bank account grow, but so did my self-esteem.
Suddenly this brave, resourceful person emerged who wasn't afraid to take risks outside his comfort zone. My business ventures gave me permission to reinvent myself. I felt bolder in my corporate job too and started speaking up more in meetings and volunteering for high-profile projects.
And the connections I've made through my side hustle have supported me during difficult times personally and professionally. Having a squad of fellow entrepreneurs who have your back is invaluable.
So while the extra income is nice, the personal transformation that happens when you run your own show is even more rewarding.
Building Resilience by Running a Business While Working Full Time
Navigating the rollercoaster ride of entrepreneurship - raising funds, winning customers, sorting out tech issues - has taught me vital skills for dealing with workplace challenges too.
I'm no longer intimidated by unexpected fires I need to put out or major presentations I've been asked to spearhead last-minute.
Running a business while working full-time forced me to become more adaptable, calm under pressure, and proactive about preventing problems before they arise.
Having a side hustle is like strength training for your career. Just like lifting weights builds muscle, building a business bulks up your resilience, determination, and confidence to thrive in any professional situation. You become anti-fragile to all the workplace chaos.
How to Start a Business While Working Full Time Without Overwhelm
You may love the idea of starting a side business while holding down a full-time job. But how the heck do you do both without keeling over from exhaustion or neglecting important people/duties? It's all about careful planning.
A plug: I invite you to set up a call with me and invest into my 3-hour program that will help you drag out your potential out of the fog of “coulda-shoulda-woulda” into a very precise path to walk on toward success. Click here, and don’t worry, I will kick us off into a conversation, do not be afraid to change your life. Besides the first 30 minutes is just a chat.
But should you decide to ignore my call to action, and continue reading…
Follow this framework for launching your hustle without capsizing your career or personal life in the process.
Selecting and Scaling Your Side Business Endeavor
Don't randomly choose any business idea just because it sounds cool or lucrative. Not all models align with your strengths, interests or schedule.
My advice is to brainstorm ventures that:
- Leverage your unique transferable skills from your corporate career
- Fills an important need you're personally passionate about addressing
- Fits time restrictions - things like selling online courses or developing apps are great because you control pace.
Once you've selected an appropriate concept, start very small and simple - set up basics like a website, social channels and an email autoresponder. Maybe do some pro bono work to build a portfolio.
Slowly layer on more infrastructure and paid offerings as you gauge demand and fit. Let things steadily evolve vs expecting overnight success. This prevents quick burnout.
Time Management Mastery when Juggling Workload Dualities
I have to be honest, balancing two jobs is not for the faint of heart. Sometimes you are so spent, that wine + couch + TV is the best recipe. Do it. Do not beat yourself up for being human.
It’ll come in waves and you will feel terrible before riding the high tide again. Expect it and do not fret.
Carefully plot out days, weeks and months to prevent dropping balls or spurring resentment from family members about never seeing you.
Some strategies that help me develop my business without neglecting key priorities:
- Block off chunks of time for each pursuit and stick to schedule
- Batch tasks that can be grouped - return emails/calls just twice a day
- Take advantage of pockets of time like commuting to make progress
- Let close friends/relatives know the schedule too - set expectations
It also helps to connect with a community of people running side hustles. My solo entrepreneur mastermind group has been crucial for getting advice, accountability and inspiration during this journey. You can't do everything alone - collaboration is key.
Conclusion: Your Side Hustle Future is Bright - Let's Do This!
I am pumped about the immense potential we all have to thrive with a side hustle while working full-time! This can literally change the entire trajectory of your life.
Imagine 1-2 years from now having built a sustainable second income stream that gives you freedom, flexibility and fulfillment beyond what any job could offer. Here are the 10 crucial mindsets/tactics to lock in to turn side hustle dreams into reality:
- Recognize the fragile nature of depending on one income source - take back control!
- Get ultra clear on ideal business model aligned to your strengths and passions.
- Start tiny - think minimum viable product - and validate your idea with real customers.
- Reinvest every dollar possible to accelerate growth - eat ramen if needed!
- Systematize and automate grunt work tasks so you can focus on big picture.
- Be obsessed with providing outrageous value, over-deliver for clients.
- Structure calendar to optimize both incomes - batch similar tasks.
- Become a tireless student - constantly educate yourself on best practices.
- Build a community of fellow hustlers - don't go it alone!
- Reject perfectionism and fear - Fortune favors the bold so take risks!
This will not be easy. But blood, sweat and tears now will compound into something beautiful – both financially and for your soul.
You CAN have it all. It is completely within your ability to, within the next 12 months, start generating an extra $10K per month through your side hustle while keeping your job.
I believe in you! It's time to back yourself. You already have the job part handled. Now go out there, trust the process, ignore the haters, and construct the life you know deep down you deserve.
Go show ‘em who’s boss!