Discover the benefits of a second job and how you can make a full-time business from a side hustle! Perhaps you, like the majority, find the cost of living leaves little wriggle room for luxuries like holidays and entertainment? Rising costs have created a need for additional income streams. For many, these ventures become more lucrative and fulfilling than their main jobs. What could be better than making a living from doing something you love? Far from being the stuff of dreams, transitioning a side hustle to a full-time business may be within your grasp with the help of the free courses and resources available on Alison. Here’s a quick guide to help you make the leap.
The Facts About Side Hustles
A side hustle is any job or business you undertake in addition to your primary employment to earn extra income. These can range from creative pursuits like photography, crafts and baking to practical gigs like delivery services or renting out your home. With most of these jobs being ‘cash in hand’, there are no precise figures for this growing trend that has its roots in Silicon Valley, California. According to a Harvard Business Review article in 2020, nearly 44 million Americans had side hustles and the number is continuously rising.
Things to Consider Before Growing Your Side Business
- Is It sustainable? Before making any major decisions about your own situation, assess whether your side hustle can sustain you financially long term. Are you earning enough to cover your costs and meet your expenses? If the answer is yes, it’s time to draw up a business plan. A detailed business plan will help you work out your costs and projected earnings. If you need a bank loan or investor to help you go full-time, the first thing they will look for is your business plan. The free course Small Business: The Business Plan will help you nail this essential. It covers business plan do’s and don’ts; drafting an executive summary and mission statement, identifying investors, presenting your plan and much more.
- Are you ready for a full-time business? Running a small business on the side is different from managing it full-time. Consider the time, effort, and administrative tasks involved. Ensure you have the resolve to handle the daily grind of running your own business before taking the plunge. If you think you need to grow your side hustle further before making your move, a short course like Freelancing and Gig Economy Success Strategies will arm you with the information you need. It covers freelancing and gig economy trends; personal branding and online presence; client acquisition strategies; project management and client relationships; case studies; skills assessment and niche identification; the business plan and financial management skills. It’s free, certified by CPD UK and you can complete it in less time than the daily commute.
- Your financial health. Get a clear picture of your financial situation before you make any decision about quitting your day job. Your main income might currently cover a significant portion of your bills. Transitioning to a full-time business can be financially unstable initially, so budget carefully, pay off significant debts, and set about accumulating some savings to see you through the first few months. Alison has a range of personal finance courses that will help you become debt-free, improve your credit rating or boost your savings.
Making the Move from Part-Time to Full-Time Business
If you are ready to take your first steps into full-time entrepreneurship, here’s your next move:
- Remove ‘hustle’ from your vocabulary. The term ‘hustle’ implies something temporary or rough. Transitioning to a full-time business means making it your primary focus and giving your new career the respect it deserves. This mindset shift is crucial and will help you grow your confidence – and your business. The course Growth Mindset for Success in Life, School and Career points out: “There are three factors that can cause people to underperform:
– Their emotions
– Their motivations
– Their lack of knowledge or ignorance in a specific area.”Select from Alison’s self-improvement courses to overcome mental and emotional obstacles to success. As for a lack of knowledge in a specific area, you’ve come to the right place. Alison’s library of 5,000 free online courses covers just about every skill or subject area. - Assess your strengths and weaknesses. Identify what you’re good at and where you need help. You can do this with free resources from Alison:
– The Workplace Personality Test can be completed in under 20 minutes. It will help you identify your areas of strength and weakness and along with a comprehensive report, it will suggest free courses to boost your skills or knowledge where required.
– Alison’s Aptitude Test is split into three sections assessing your verbal, numerical and abstract reasoning skills. Each section can be completed in around 10 minutes. Along with an in-depth report on your scores and what they mean, you’ll be furnished with course recommendations that can help you improve in your areas of weakness.You can test your progress by retaking the tests as often as you wish and like everything on Alison, they’re completely free. - Market your business. Effective marketing doesn’t have to be expensive but it helps if you know what you’re doing. Build a strong online presence, engage with your current customer base, ask for reviews and watch your business grow. Alison’s Social Media Marketing courses provide expert training in promoting your goods or services on all the major platforms.*Read our blog post Social Media Etiquette: Do’s and Don’ts For Business for tips on making your ‘socials’ work for you.
- Make the most of your time. Transitioning to a full-time business means managing your time efficiently. Prioritise business activities over leisure. Alison’s Introduction to Time Management merits a couple of hours of your time. It drives home the benefits of being organised; getting in the right state of mind; prioritising work; techniques for organisation; dealing with procrastination and overcoming the Sisyphus effect – where you feel as if you are forever pushing a boulder uphill.If you are too busy to stop, tune into personal development mentor TJ Walker’s course How to Manage Your Time on the Alison app. He talks you through the lessons so you don’t even need to take your eyes off your task.
Over to You… 
Taking your side hustle to the next level requires careful planning, financial stability, and a shift in mindset. By leveraging the right resources and education, you can make this transition smoother and more successful. By filling your skills and knowledge gaps with free online courses on Alison, you’ll gain the expertise and confidence needed to turn your side hustle into your main source of income. Good luck on your entrepreneurial journey!
Free Resources
Check out the other free resources on Alison for further advice and information to help you on your empowerment journey.
- Workplace Wellbeing Assessment – Understand and improve your cognitive, emotional and physical wellbeing and workplace stressors.
- Resumé Builder – Create a clear, concise, impactful CV that will showcase your skills and experience
- Testimonials – Be encouraged by positive stories of empowerment from Alison graduates.
- Career Guide – Explore thousands of career pathways, including average salaries and course recommendations.
- Career Ready Plan – Discover the career most suited to you and get a step-by-step plan for succeeding in it.
- Free LMS – Upskill your employees with micro-credentials from our free learning management system. Keep abreast of your team’s progress with comprehensive reports.
- Graduate Outcomes – Discover why people study with Alison.
- All Alison courses are accredited by CPD UK.
