How to Get Over the Fear of Starting a Side Hustle
If you’re not earning as much as you need from your full-time job, side hustles are one of the best ways to increase your income fast. I’m a money coach for millennials, and one of the common challenge areas for people I coach is income.
The fact is, you can only do so much budgeting if your income is just enough to pay your bills and you have hardly any money to spare. There’s no other way to come out on top of this situation — you have to earn more money. Easier said than done, right?
Earning income on the side can present a mindset hurdle. It’s harder to see opportunities where you can earn money on your own when you’ve been working in a traditional work environment your entire life. I remember the first $25 I made as a freelance writer felt like a million bucks. I couldn’t believe that someone was willing to pay me directly for a service. There’s a little bit of fear there initially. You’re not sure if you’re worthy of making money from your own talents.
Here’s how to push through that fear:
One of my favorite authors Jen Sincero says that to grow her business she focused on how much she could get away with. To push boundaries, she constantly asked — I wonder how much I can get away with? Ask yourself this question as you move forward.
You have to be audacious to start a side hustle and then grow it into a full-time job. You have to feel self-doubt and experiment anyway. Understand that anxiety is simply worrying in advance about something that could or couldn’t happen. Usually, if the worst case scenario does happen it’s not even as bad as the catastrophe you’ve been playing over and over in your mind.
Start a Mastermind You Can Count On
A mastermind is a group of people who share similar interests and are working towards similar goals. Masterminds usually meet once or twice a month to go through goals, troubleshoot business problems, and hold each other accountable.
One thing that can be scary about starting a side hustle is the learning curve. You’re basically learning by yourself through trial and error if you don’t have anyone in your corner. Don’t try to do it all on your own. Get together a group of like-minded people who are also pursuing their own side hustle so you can bounce ideas around. Having trusted business buddies are invaluable.
View Failures as Lessons
You will make mistakes when you start a business. View your mistakes as lessons and constantly improve. Don’t harp on these mistakes and internalize them. This approach only makes it harder for you to move on. Dragging your feet on a side hustle idea you have because you fear failure means you’ll never learn the skills you need to fine-tune your idea.
There’s only so much research you can do before you’re just procrastinating. The beauty of a side business is that you hopefully have a full-time job that’s covering the bulk of your bills. There’s not as much pressure to make it work if it’s just supplementing your income. Use this time to experiment and grow a business you love. You never know, this business could turn into something that you take full time if you can push through your fears.