Kitchen Millie | Cookie Catering, Cookie Gifts, and Cookie Events

4 Ways to Tell if You're Ready to Take Your Business Full Time

Michelle WaxComment

Taking your business from a side hustle to full time business is definitely one of the most nerve wracking things you’ll ever do.

In fact, most people will tell you NOT to do it…

‘...but you have such a great job!’

‘How do you know it will work?!’

‘...are you sure you want to do this?’

But don’t let these people get to you, human behavior is naturally inclined to think about the negative outcomes, not the positive ones. Most of the time, you’re talking to people who have never started a side business, let alone taken it from on the side to full time.

So how would they know how it is? ;)

--

Instead of focusing on the negative of what could go wrong - focus on your life 6 months down the line...

Imagine waking up without an alarm clock, getting to work from wherever you want, and taking a break to go for a bike ride at 1PM on a gorgeous July day?

Yes, this is what you get to do. And it is glorious.

It’s definitely not all easy breezy and sunshine, but I guarantee you it means a whole lot more to give it a shot and see what happens...then wonder for the rest of your life…

WHAT IF?

You can always get another full time job, so you may as well give it a shot and push yourself to make it work.

I’m a firm believer in minimizing the regrets you’ll have when you’re 80 years old -- did you go after what you wanted? Or did you just sit around and talk about it?

Think you’re ready to go from side biz to full time? Here’s a few things to check in on before making the jump:

1. Be Ready to Be Uncomfortable

With a startup comes a boatload of uncertainty. Often you don't know where sales will come from for the next month, and until you're at least 4-5 years in - you're probably going to have a lot of doubt on if it will succeed (kudos to you if you don't!). 

A helpful transition in easing this financially is to take on a part time job that can pay your rent, utilities, etc but allows you to have significantly more time than keeping your full time job. Don’t be ashamed of what this is -- I’d recommend a flexible job like Uber or Task Rabbit where you can work whenever you want and aren’t tied to a specific hourly schedule.

Surround yourself with positive people who want the best for you - there will be days when you question everything about what you’re doing and these people will be here to bring you back on track. You're the average of the five people you interact with the most, so make sure these people are not bringing you down or causing more doubt.

Once you become comfortable with the uncertainty, it gets a whole lot easier. This takes many many months (if not years), but once you get there you'll truly feel free. 

If you’re struggling to get everything done or keep yourself motivated, check out some of our tips on our Cookie Life Videos.

2. The Risk of Not Doing

People talk about the risk of going after what you want -- you could lose all your money, you could fail, you could give up a great job, yada yada yada...

but no one ever talks about the risk of NOT doing.

Think about 12 months down the line...

Do you want to be doing exactly what you’re doing now, or be in an entirely new place?

Do you want to grow your business (and yourself) and have an amazing story to tell, or will you be stuck in the same place 1 year from now?

3. Multiple Streams of Revenue

From a practical sense, I recommend having multiple streams of revenues established in your business before taking it from side to full time. If one fails or is struggling due to the time of year or demographic, you can push on other streams to make up for it. For us at Kitchen Millie, we focus primarily on corporate catering and events, but also sell online, host cookie classes, and hold pop ups. 3-4 revenue streams is generally best.

4. Create a Plan to Delegate + Automate as You Grow

Recognize early what you don't enjoy doing in regards to the business, so you can automate and/or streamline it. 

Set limits on production or delivery times. This will keep you from accepting last minute orders or rushing, causing stress and eventually burnout. 

Hire someone to help you when you can afford to. Having someone to help in production or marketing or sales or whatever you need makes a world of difference. I would be completely destroyed without the KM team - they are amazing.  

Being able to delegate as you grow and allow flexibility in new methods to grow the brand from your team will lead you to grow quicker and have more fun along the way. 

What you'd think? Let me know in the comments below!