In 2017, Courtney Lynn Ottrix started blogging about things to do in Cleveland. She’d done some freelancing in the past, and the blog offered occasional opportunities for income.
Whether you’re pushed into it like Ottrix or have time to make a plan, following these steps can help you transition your business from a side hustle to self-employment. “Start to visualize and treat the business like a business. It’s separate from your personal stuff,” Hall says, adding that you need to make an “unwritten commitment to never mix the two.”
Business owners “grow to enjoy looking at their numbers,” Weil says. “It’s really nice to be able to just push a button and be like, ‘Ah, I made money this quarter.’” “Everyone thinks they have to do everything by themselves,” Ottrix says. “No, you hire help. The most successful people build really, really good teams.”3. Formalize your business plan If you’re already freelancing, you probably have a good sense of how much you can earn per item or per client, Hall says. But you may not have a formal business plan that translates those numbers into enough money to make a living.
If you’re earning money from a side business, Weil recommends letting it pile up in your business bank account. He encourages saving enough to pay yourself for three to six months before relying solely on your business for your income.Read: These frontline workers joked about opening a restaurant — and then did it during the pandemic
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