4 things to have in place when making your side business your main income.

Any one with a small business looks forward to the day that your dreams become reality and your small business takes off and becomes your number one source of income. The ultimate goal of being your own boss can happen and can be rewarding, if you have these four things in place.

COURAGE and Discipline

Not having the safety net of a traditional job, can be scary, and make the transition from employee to owner worrisome. Stepping out to be your own boss takes courage, as well as discipline. More often than not, if you have the courage to start, own and operate your own business, than you already have the courage to take this grand step.

Discipline, on the other hand, may take some practice. As an employee with a side hustle, we tend to be more laxed with working on our own business because we have the security of having a steady paycheck. When you are the owner, you have to be disciplined to handle your business, well, like a business.

Have set open and closing times and stick to them; opening late or closing early may cause you to miss customers and lose money. This, as well as proper customer service and providing your product or service as promised, are disciplines a small business owner can not waiver.

Having an emergency fund

Without the security of a steady paycheck, when you decide to stop being an employee to be your own boss, you will need emergency money. Unforeseen things can and will happen, and having a few extra dollars in place for just those types of things can make a big difference. Have an emergency fund specifically for your business. You don’t want to empty your personal savings, for a business emergency.

Have a plan

Have a plan in place well before your exit to business ownership. Talk to your current customers, let them know you will be working independently now. Have a grand opening that lets people know that you are in full time business now. Have a plan to market your self as a small business owner open for full time business. Be willing to be flexible, but firm. Now that you are a full time business, you will deal with people on a full time basis, and some may come with demands and bad attitudes, plan to deal with that in a professional manner.

Have a back up plan

Have a back up plan. Your business may not come out the gate making tens of thousands of dollars the first few months that you are in full time business, but that’s not reason to throw in the towel. A back up plan may include, doing a revamp on your budget, to limit the amount of out going expenses. A back up plan may also include not hiring extra full time staff until profits are better.

Even if your back up plan includes getting a part time job, don’t let that deter you from building, owning and operating the small business of your dreams.

GO FOT IT!!

You have a small business, an emergency fund, a plan and a back up plan. Now just go for it! Its going to be scary, its going to take courage and discipline, but its going to be worth it.

All the best in your business.

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Author: bossLadyBLOOMS

BossLady Blooms promotes love and care of self in order to give back to others. We encourage everyone to create, learn and grow into your most authentic self. Everyone has the ability to love, learn and bloom. #LoveU

18 thoughts on “4 things to have in place when making your side business your main income.”

  1. It is a scary process to step out and work for yourself but once you get rolling it is so worth it. We sacrificed a lot for me to start working from hone but it has been the best decision ever being my own boss. I appreciate this fabulous post!

    Liked by 1 person

  2. This is such a really helpful and very informative post! I agree that having a backup plang is really important!

    Like

  3. I have a friend who has a side business, and is looking to grow throughout they years. Though I don’t know her exact goal for the business, this might be good for her to look over

    Liked by 1 person

  4. Having an emergency fund is super important. You never know when you need that extra cash for something super important. You can plan well but sometimes things can come up.

    Liked by 1 person

  5. Turning your side business into your main business can be intimidating, but you have some great pointers here! I think the biggest thing is having the courage to make that big leap, and the rest will fall into place eventually. Thanks for sharing this!

    Liked by 1 person

  6. Turning your side business into your main business can be intimidating but you have some great pointers here. I think the biggest thing is having the courage to make the leap and the rest will fall into place naturally. Thanks for sharing this!

    Liked by 1 person

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