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One way to increase your total income is to have a side-hustle. But starting and managing a side gig while being in a day job may be a challenging idea for some. One of the most difficult aspects is the balancing act of your part-time and full-time jobs. Here are some ideas or tips on how to manage a side gig while working a 9 to 5 job. ~ Ed.
The prospect of quitting your day job to pursue your own business is exhilarating and terrifying at the same time. The risks involved are huge and no guarantee of success.
A side-hustle, in my opinion, is a smarter alternative than downright resigning from your workspace.
Here are a few effective tips that will help you balance your part-time job without having to give up on your regular paycheck.
8 Tips to Manage a Part-Time Side Gig While Working Full Time
If you need an extra income stream, then a side hustle can be a very good idea. Don’t worry, managing and balancing your part-time gig with your full-time job may be tough but not impossible. Here’s what you need to keep in mind:
Figure Out Your Passion
First and foremost, you need to figure out your passion, your natural leaning.
Your day job might be something you’re not interested in, something that just pays the bill; but the part-time job should be both monetarily and emotionally satisfying.
For instance, people with a creative streak can start their own websites and blogs about writing, painting or photography.
Most corporate employees strive to develop their own start-up on the side while managing the day job at a stuffy cubicle.
Once you have figured out what you want to do, the rest of the journey becomes relatively easier and a lot more motivating.
Prioritize and Maintain Perspective
Once you have figured out what you want to do, the next step is to make a meticulous plan on how to go about it.
Set your priorities straight, and maintain your perspective. In the initial days, you might feel the tremendous pressure of having to manage your side-business without compromising on the day job.
Find the silver lining between the two opposing responsibilities and embrace the challenge they pose.
Also, before you jump the bandwagon and start off your side gig, get a friend or a trusted colleague to partner.
Refrain from Hasty Impulsive Decisions
Now, I understand that there will be times when your day job and side gig might clash, it is during times like these when you have to make a tough call. Don’t quit your job in order to look for greener pastures elsewhere. A bird in hand is worth two in the bush.
Also, try and stay put no matter how difficult things get for you. Refrain from making hasty decisions, check your impulses and read the market before you make any major changes in the business framework.
However, that doesn’t imply that you avoid taking risks altogether when you have a proper job and an income source as a backup plan. You can indulge in a few calculated risks now and then if the stakes are high.
Choose the Right Platform
One of the most important aspects of a business is where you project it. For a side gig, you can either use the virtual platform or conduct your transaction.
For first-timers, we suggest you start developing your enterprise online to get more exposure and expansion opportunities.
These days you don’t even need to invest a truckload of money in hiring professional web developers to design a website for you. There are loads of website builders on the internet where you can create a web page, upload content and market it all with a few simple clicks.
The virtual platform cost-effective and time-saving and user-friendly for the budding businessman.
Managing your day job and side job is a tough job, one that involves your absolute dedication and diligence. And it gets especially difficult in the initial phase when your side gig is just getting started and requires your maximum time and attention.
What you need is a proper schedule that devotes equal importance to your career and part-time business commitments. A major chunk of your day is devoted to your desk job, you just have the evenings and the nights to work on the side-job.
The trick is to create a system that works well for you. Post-it notes, jam-packed schedules, keep a digital record of your activities- there are numerous ways to keep track of time and manage it effectively.
Harness an Actionable Audience
Simply launching a business or side gig isn’t enough. Apart from the technical aspects of your start-up, you also have to consider the market trends and audience base.
Find your passion and then find the right audience for it. With an actionable audience at your disposal, you get better revenue generation opportunities and expansion ideas at your disposal.
Remember, with your side gig you’re far more flexible and in control of your actions and decisions. You’re not answerable to anyone (other than maybe your other partners and the audience).
Create unique, out-of-the-box, viral content that gets instantly popular among the masses. For this, you need to thoroughly study the market trends and preferences.
As and when your side gig grows you will have to employ more and more people to keep it functional and thriving. The time vs money equation is far more complicated when it comes to a side gig job.
Most people don’t have enough time to build a business and keep in check the rapid rise in demands. Start slow and gradually work towards expanding your circle, with time you can even outsource some sections of the business to other parties.
Websites like Upwork and Fiverr are some places where you can find freelancers who would shoulder some of your load albeit at an additional charge.
Marketing and After-Sale Services
Marketing and after-sale services are a major part of any business model and your side gig is no different. You need a smart, strategic plan for promoting your products/services.
If you have an e-commerce website, you can use platforms like Shopify and WooCommerce to build web stores, extensive catalogs, integrate payment gateways, add shopping carts and a host of other features.
Wrapping It Up
Not everyone is brave enough to take up a side-job whilst managing a full-fledged career.
It won’t be a piece of cake; you’ll have to take tough decisions, make several sacrifices and learn things the hard way.
However, if you’re persistent enough, having a side-job pays and pays really well – both monetarily and emotionally.
Over to You
Do you have or want to have a side hustle while in a day job? Would you agree with the ideas presented here? Share your thoughts and experiences in the comments.