When juggling a day job and starting a side hustle, time is precious. The rewards are more significant for entrepreneurs who take risks and are willing to bring their energy and passion to whatever they do.
1. Find Out How Much Side Hustle Time You Have Available
Document your normal routines for one week before starting your side gig so you can see how much time during the evenings and weekends you spend doing things like cooking dinner, running errands, watching Netflix, doing chores, etc. Use time tracking smartphone apps like Toggl when offline and Google Chrome extensions to monitor time spent on the internet.
You can see how much time you really have for a side hustle once you cut unproductive activities from your schedule.
2. Research if the Side Gig Is Worth Doing
Now that you know how much free time you have available, consider whether it’s feasible to add a side gig on top of a regular job.
Search Google and YouTube to see if there’s a need for your side hustle and to determine how time-consuming it can be. During your research, see if other people are doing something similar and ask if they are willing to offer their advice.
3. Find Out Whether You Need to Inform Your Current Employer
One thing to consider before starting a side hustle is determining whether the gig will interfere with your day job. Every company is different, and some may have strict guidelines on what employees can do outside of work, Bean warns.
Do yourself a favor and dust off the employee handbook to see if there are any rules against side jobs. The last thing you need is to lose your primary source of income because you forgot to tell your boss about your budding side gig.
4. Set Some Office Hours
Set a schedule to keep on track during the evenings. For example, work for an hour on the site after getting home, then more after dinner. Having a schedule in place is critical. Also include in your schedule at least one social or family activity per week to avoid burnout.
5. Open Separate Business Accounts
It’s never too early to start thinking about tax season. Open a bank account and credit card dedicated solely for your business. Doing this provides you with a true-to-life snapshot of the financial results of your side hustle.
By having all your side hustle income and expenses in one place, you can see trends and other relevant information to improve your business. Plus, your accountant will appreciate it when it’s tax time.
6. Develop an Organization System for Your Paperwork
Instead of throwing all your receipts into a shoebox, consider setting up a digital filing system.
Receipts and invoices should be sent via email if you run an online business. To save time, use free basic automation software, such as If This Then That (IFTTT), to automatically save receipts into a Google Drive folder.
For physical receipts, takes photo backups using the smartphone app CamScanner. That way everything is saved on your phone or computer, ready to go for tax season.
7. Design Templates to Work Smarter
We encourage people to set up a task workflow in the early days of their side gig. For example, if your side business is in copywriting or involves creating a lot of documents, we encourage people to design templates.
Have a system down so you can streamline it when you start to scale your business. These templates can have the basic format laid out so all you need to do is change out the unique details. That way, you’re not starting from scratch on every project.
8. Find Industry-Specific Groups
There are many industry-specific groups and communities available on social media for side hustlers. In these LinkedIn and Facebook groups, you can learn from other professionals working in your field as they share advice. We recently discovered a Facebook group for freelance social media managers and was blown away by the information and resources they were sharing among themselves.
9. Create a Productive Home Environment
Your home office needs to have minimal distractions. Two ways to ensure this include following a set work schedule and having everything you need in the office.
By following the same work schedule, your family, neighbors and others know not to bother you during designated times. Plus, if you have everything you need at your disposal, you don’t need to leave the room.
10. Don’t Wait for Perfection — Just Go For It!
Whether it’s posting on social media, launching a website or starting a company, we encourage aspiring side hustlers and entrepreneurs not to get paralyzed by perfection, which can get in the way of execution. Our outlook is to do it the best you can and fix what doesn’t work as you progress.