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Building multiple streams of income has become very essential in our days if you truly desire to reach certain financial goals and attain financial freedom. Now, for someone that still works as a full time employee, it is important to know how best to balance one’s regular day job as an employee with other side gigs so that it doesn’t conflict with each other in the pursuit of attaining financial freedom.
Check out these 4 tips to help you balance your Side Gig with Your Day Job:
# STAY WITHIN THE AREA OF YOUR CORE COMPETENCE.
For instance, let’s say you work in the tech industry, you probably understand how to create value using technology better than someone not in the same industry as you. So it’s advisable to begin with a business that falls within your areas of competence. That way, you’re able to understand the industry terrain in which your business belong and how to navigate through it to success.
# WORK WITH A PARTNER.
While running a business as a side hustle, partner with someone you that shares the same business dreams with you and is ready to fully commit to building it together. Because it is often essential for one of the business owners to work full-time in the business or better still you give a small equity holding to your most senior employee who can handle stuffs.
While running a business as a side hustle, partner with someone you that shares the same business dreams with you and is ready to fully commit to building it together. Because it is often essential for one of the business owners to work full-time in the business or better still you give a small equity holding to your most senior employee who can handle stuffs.
# NEVER QUIT YOUR JOB UNTIL YOUR BUSINESS CAN PAY THE BILLS.
Many people make the mistake of leaving their day job too early while their business is still in the early phase. Then, they later realize that their ROI cannot cover for their business expenses let alone pay their own bills. Ensure that your side business grows to the level where it can pay the bills before you make the decision of leaving your day job.
Many people make the mistake of leaving their day job too early while their business is still in the early phase. Then, they later realize that their ROI cannot cover for their business expenses let alone pay their own bills. Ensure that your side business grows to the level where it can pay the bills before you make the decision of leaving your day job.
# START SMALL NO MATTER WHAT.
There many businesses that still fails despite the best laid plan and even great implementation. However, in the pursuit of building great business dreams, learn to start small, then scale up slowly until you are able to run the business full-time.
There many businesses that still fails despite the best laid plan and even great implementation. However, in the pursuit of building great business dreams, learn to start small, then scale up slowly until you are able to run the business full-time.
Good Luck!!
