3 Keys to Turning Your Side Gig into a Full-Blown Business

Posted on January 29th, 2018
planning for the future

Have you been thinking that your side gig is doing really well? Perhaps it’s just reached a point where you say to yourself, “Hey, with a little push, this could be a real business!”

That’s a great place to be. It’s a place full of surprise and optimism, and the idea that freedom is just around the corner. But what if you don’t break through?

You can increase the chance that your side gig will turn into a full-blown business when you pay attention to the following essentials:

1. Better Time Management

Perhaps the biggest key to turning your side gig into a full-blown business is taking stock of how you spend your time.

First of all, you need to figure out where you are most effective. Guidelines like the 80/20 rule can help you narrow down what you should be spending the most time on.

Consider that there are some tasks you accomplish that contribute greatly to growing your side hustle into a business. Look at how you’re using your time. Try to identify things you can outsource. Additionally, take some time to figure out if you are wasting time on things that aren’t really helping you.

Effective time management is about deciding where you will get the biggest bang for your time spent. As you focus on what has the greatest impact, you will see better results for your side gig.

2. Look at What Other Success Stories are Doing

If you want to turn your side gig into a self-sustaining business, it helps to see what others have done. Look at someone who has achieved what you want to accomplish in the next couple years. Then, try to learn from them.

You can talk to a business leader you respect and get some mentorship. Or just pay attention to what they’ve done. You can see clues of how they managed their businesses. Look at how they market themselves, the selling process, and other items. You’ll get valuable insights.

Even just applying a couple of the things you learn from someone who has a measure of the success you hope to accomplish can help you get that little extra oomph that can bring you the rest of the way to business status.

3. Put Together a Plan

My own business caught me by surprise. However, as things developed, I realized that I really needed to put together a plan. Planning is one of the best ways to ensure that your transition from side gig to full-time business is as smooth as possible.

Create a roadmap with the end result in mind. Start with what you hope to see from your business, and then list out the steps that will get you to that end result. Break it down into specific actions related to marketing, outsourcing, and other items that will help you reach various milestones.

When you create a plan based on what you learn from others’ success, and then use it to determine where you should spend your time, you have a better chance of success in the long run.

Miranda Marquit

Miranda Marquit

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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