If you’ve got a burning passion that you think about during your 9-5, turning your side hustle to your full-time gig may just be the right move.
However, making the transition isn’t always an easy decision, especially when there are so many unanswered questions you might have (including, WHERE DO I EVEN START?!). Our sister site Fashion Quarterly recently chatted to Erika Amoore, co-founder of epic musical event Synthony (which brings together classic dance tracks with a classical orchestra and live performances), about all things career, including how she took the leap from the finance sector and ended up pursuing her dream job in the entertainment industry.
Erika shares with us her top 5 tips to turn your passion project into a full-time hustle, so you can succeed in your next big venture:
1. Be prepared for the change in dynamic in how you feel about and interact with your side hustle
Without the security blanket of a regular income that pays the rent there will be a lot more pressure on your business to succeed. When I started Synthony it was purely for the love of the music and the concept. While I had no desire to lose money I didn’t care if I made any either and this mindset gave me incredible freedom. When your livelihood is on the line it changes how you view and make decisions, and this can be difficult to reconcile with how you may have previously operated.
2. Be financially ready for it, either with savings or investors
Even the best financial forecasting can’t predict what will happen 100% of the time and you need to be prepared for the downtimes.
3. Envisage what the worst thing is that could happen when you take the leap, and make sure you can live with it
For me, the worst thing that could happen when was I would end up going back to a day job (aside from the obvious disappointment that would surely be part and parcel!) and while this would be a far from the ideal outcome I knew it was something I was comfortable with.
4. Have someone to talk to, a friend, family member, or mentor, who has been in your position and knows what you are going through
Starting your own business can be hugely rewarding, but also lonely. The stresses you will face are unique to starting a business and it helps to be able to talk them through with someone who has been there, done that.
5. Finally, enjoy the process!
The journey is like no other. Make sure you celebrate your many wins as they happen before moving onto the next one. Take time to appreciate how fortunate you are to be in a position to make your side hustle your full-time hustle.
Synthony is taking place in 2019 in Brisbane (17 August), Christchurch (6 September), Auckland (20 & 21 September), Hamilton (12 October), and Wellington (25 October). Tickets can be purchased at synthony.com.