Side Hustle

Coping with a paid employment & side hustle

2020-02-15T14:49:02+01:00 January 4th, 2020|Categories: Career, startupgold|Tags: , , , |

EMPLOYMENT & SIDE HUSTLE


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Running a business is a marathon as they say and not a sprint. As you run your own race, you do have to be mindful of your personal circumstances.

In the early stages of business, some people have the financial support they need to dedicate their hours to growing a business. For others the business starts as a side hustle while they get some financial support from a daytime job.

Regardless of whether you run your business full time or as a side hustle. The goal is to find fulfilment in what you do as you work on achieving your dreams.

Here are a few things to consider when coping with a paid job and side hustle :

Be mindful of opportunities you have and take advantage of them.

  1. Make the most of your paycheck as a means to support your business financially. Knowing what you earn each month, have a plan to manage your income. Consider a budget for your personal commitments, savings, investments and set aside something for your business. Click to read on how to fund your business by bootstrapping.
  2. Take advantage of employee perks and offers. Many companies offer employee discounts to retailers and events that could help you reduce the costs of items you need for your business.
  3. Make the most of your time in the workplace. Seek opportunities to learn how a business runs, how to stand out in the market, attract customers and keep them happy. Find ways to learn what employees on other teams do. Continuously look for ways to increase your knowledge of business management. This would help as you build your side hustle. Read more about learning in your workplace here

Running a side hustle while working a job can be a true test of patience and organisation skills. It is important you remember to prioritise your health and wellbeing as you juggle your priorities. This is even more important if you also have to juggle study and/or family responsibilities.

Here are some tips to keep you motivated and working at your best:

  1. Work out a plan to help achieve your dreams and use your paid job and side hustle as a platform to get you there. If either your paid job or side hustle does not get you to your dream then you should not be doing it.
  2. Keep in mind the reasons you are working your side hustle and job. Stay positive and practise gratitude each day for the opportunities ahead of you.
  3. Be disciplined and diligent to manage your time each. You do not have a lot of hours each day to waste. If you are not working in your job or business, spend quality time with family and loved ones, do something to uplift and keep you fit, improve your skill and business or just get some good rest.
  4. When you network, ensure you are getting valuable return for your time. Networking is an essential part of growing your personal brand and business. However all too often, people waste time at network events that offer little or no value. Have a plan to ensure you get something out of attending network events to support your personal and business growth.
  5. Keep in mind that you have a duty to the employer at your paid job. Be aware of your performance objectives and commit enough hours in your day to doing a good job. Employer referrals and recommendations go a long way in building your personal brand.
  6. Avoid any conflict of interest between your paid job and side hustle. Read your contract employment. You may be obliged to disclose your side hustle to your employee. Be mindful of this to avoid disciplinary or legal penalties.
  7. Lean on your support group. In your day job, delegate what you can to your team if you have one. The reason for this isn’t to give you more hours for your side hustle but to allow you time to focus on activity that doesn’t need your attention. At home, lean on family to get through your responsibilities and commitments. It is easier when they know what you are dealing with.

Consider these if or when you decide to leave your corporate job to focus on your business.

For more tips on coping with a paid job and side hustle successfully, subscribe to The Startup Gold newsletter.

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