Fifty-one percent over the next seven years, that’s an incredibly high number. And after the coronavirus epidemic, that statistic may accelerate. Freelancers currently account for roughly 35% of the U.S. workforce, but by 2027, that could be as much as 51%. And if you’re one those crazy people who pursue your side hustle with hopes of it one day becoming your main hustle, you struggle to balance your day job and your passion. One of the biggest questions on the mind of every day-timmer side hustler is how to balance the load, get all done, and get it done well.
#1 – They Pursue Their Passion or At Least Something Interesting
To stave off exhaustion and insanity while attempting to fulfill your day job work requirements and build a successful side hustle, you must pursue something that will keep you engaged. It doesn’t necessarily have to be a passion of yours, but it should keep you interested enough that you will stick with it day after day. If you’re already putting in long days, then coming home to family, your side hustle needs to inspire you enough to stay up late, work in the evenings and weekends.
#2 – They Schedule Their Work And Stick To It
Given that many side hustlers have competing priorities, they schedule everything and stick to it. I, for example, have a weekly workflow that I follow. Mondays are for writing content, Tuesday I record video, and Friday is my administration day. When I plan my day, I follow the general workflow. More specifically, I plan what posts and videos to create over the next four weeks. My subscription content is planned two to three months out. I feel less anxious about content creation because I have a plan, and I work the plan. I adjust as necessary. When sheltering at home became a thing, I accelerated my content creation schedule and modified my learning days (Tuesday and Wednesday).
It’s easier said than done, but a trick to sticking with your schedule is to look at the month, then the week, then the day to build flexibility into the plan. And, most importantly, don’t beat yourself up when you aren’t able to stick with it because something came up or you’re feeling exhausted. When you fall, the most important thing is to get back up, correct, and continue.
# 3 – They Treat Their Side Hustle Like a Business
In a few weeks, I’m teaching a class on how to make your hobby your business. One of the topics I’m discussing is pricing. But the primary takeaway of the class is how to treat your hobby like a business. I worked with a client that had been in business for over three years that didn’t have financials, a pitch deck, forecast, and other business essentials. That company struggled to make money. Why?
There was an underlying belief that all of that ‘stuff’ just got in the way of doing business. The owner’s perception was that those processes weren’t necessary and just slowed things down. Their theory being once the company took off, then they could circle back and put those things in place. The message he unknowingly sent to himself and others is that he didn’t take the business seriously. And while that may not have been the case, the perception permeated through every aspect of the company.
Successful side hustlers create clarity about their product, their mission, and vision. They develop plans and set goals. And, lastly, they get things done by executing the plans and tracking the goals. That’s the strategic element of a business. They also take care of the operational aspects of the company. Meaning, they track their revenue and expenses, they have a budget, they use tools and systems (mostly free ones) to keep themselves on course. They review their metrics and KPIs often and make adjustments as necessary. Everything that the company they work for during the day does, but on a smaller scale.
#4 – They Start Before They’re Ready
The theory of mastery suggests that it takes 10,000 hours to become an expert at something. If you work 40 hours a week at the same thing, you’ll reach the expert level in just under five years. Side hustlers know that their first few attempts at their business won’t be perfect.
They expect to go slow and never view themselves as behind. Each iteration of the product is an opportunity to become expert so that by the time they build a solid customer base, they have a mountain of experience. Productive side hustlers don’t wait until they know enough or are old enough or the perfect time. The whole reason it’s a side hustle, for now, is to build the foundation for mastery.
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