One of the great dreams that many people have is that of starting a side gig. A side gig can represent different things. You might be hoping to transition from your day job to working for yourself full-time, or you might just want the extra side income to help you meet other goals.

No matter your expectations, chances are that you will need to start your side gig while working a “regular” job. Here are 5 tips for doing it more effectively:

1. Know the Rules of Starting a Side Gig While Working

In some cases, it’s important to understand expectations related to your work and your side gig. If you start a side gig, you need to do so in an ethical manner. There might be rules in your employment contract against starting a business that could compete with your employer, or you might need to watch out because working on your side gig on company time might mean that your employer owns your work.

Before you start your side gig, know the rules and make sure you are approaching the issue appropriately.

2. Know Why You’re Starting a Side Gig

Next, make sure you know your reasons for starting a side gig. What are your goals? If you just hope to make a little extra money on the side to help fund your travel goals or boost your retirement savings, you will need to approach the situation differently than if you hope to quit your day job at some point.

Know what you hope to gain so that you can create a clearer picture of what your side gig should look like.

3. Set Daily Goals and Tasks for Your Business

When starting a side gig while you still work a day job, you need to have the discipline to follow through — even if you are tired and aren’t sure that you want to get any work done that day. After you know what needs to be done, you need to set daily goals for business activities, whether it’s writing one article, crafting one email, or fine-tuning your website. Follow through on the tasks if you want your side gig to be successful.

4. Stay Positive

One of the most important things you can do when working toward any goal is to stay positive. It can be tough to stay positive when you are tired and you end up with setbacks. However, any business person is likely to have failures and problems. Try to stay positive as you move forward. You want to stay positive at your day job, as well as feel positive about your side gig.

5. Prepare Your Finances

When starting a side gig, you need to think about your finances. This is especially important if you plan to build your business to the point where you can quit your day job. You need to have a plan for your finances if you expect to quit working for the man and become self-employed. While you build your business, make sure that you use the benefits and other resources that come with having a more traditional job to your advantage.

You can build your business while working a day job as long as you have an idea of what you hope to accomplish, and make a plan that allows you to realistically pursue your goals.

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I'm Miranda and I'm a freelance financial journalist and money expert. My specialties are investing, small business/entrepreneurship and personal finance. The journey to business success and financial freedom is best undertaken with fellow travelers.

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