So, you work and have a side hustle, when is it time to go full time and how do you go full time with your small business?

If you are making enough money to financially be stable and you are receiving a consistent number of sales and you cannot keep up with the demand and are feeling burnt out doing both your work and your side hustle, then its time to go full time.

Our top tips for going full time:

·       Check your contract and make sure that there is no clauses in it that says you cannot be self employed whilst being employed and how much notice you have to give.

·       Save up so that you have a ‘buffer’ for when sales slow, additional start-up costs you may need and any emergencies and equipment repairs you may occur.

·       Slow down on your job by going part time and build up your business slowly with the added security of the income, whilst you manage more responsibilities and orders with your small business.

·       Create a plan, prepare and strategize all aspects, then plan your small business launch, ensuring you are registered with HMRC and have complied with all the legal requirements.

·       Leave your job on a good note, do not make a big song and dance! Leave your job well and avoid conflict with your employer.

·       Don’t be afraid to ask for help and outsource what you can to lighten the load and automating your business where possible.

How do you sustain a profitable business in this economy?

Here are 3 of our best tips!

1: TRACK and monitor yourself:

Whilst scheduling in when you will review your data (at least every quarter) and analysis yourself in what is going well, what needs to be improved, what can you let go and what can you add to make your business better and stronger.

2: Continual learning and development:

You can always be better and learn more, always! Do not think that because you are good at a skill that’s all you need; technology is always changing, develop customer service, grow as a business by learning and continually develop your small business.

3: Get various income methods :

The average millionaire has 7 income traffic flows, so don’t just rely on one (Just like social media, if it goes down – so does your entire business! Make sure you are using different methods) and work on getting a variety of income flows.

We hope this post gives you the information you need to feel inspired, empowered and educated.

The business parents organization.

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