I just finished listening to Episode 292 of The Brown Ambition Podcast titled Juggling Your Business With Your 9-5 with Chris Browning of Popcorn Finance. So, in this episode, Mandy and Chris Browning had a casual conversation about making the transition from your 9-5 to starting your own business.
So, Mandy has been on the Brown Ambition Podcast for something like seven to nine years, and she just started her independent business last year. Chris Browning had his original podcast, Popcorn Finance for about five years and he’s just now transitioning it to a full-time business. My first takeaway is that if you want to build a full-time business from a part-time side hustle, expect for it to take time.
It might be somewhat easy to come across these stories online of people that started some kind of side-hustle or side business and made a bunch of money in one year. The more typical story, though, is that it will take some time, possibly even years for your business to grow to the point where it could sustain you full-time.
Chris Browning admits to being risk-averse and though starting a business is risky, this strategy of transitioning from side-hustle to main career is one that aligned with who he was.
Some additional gems from this episode include paying attention to tax codes, getting a therapist, and having a business coach. There are many potential tax loopholes and benefits that you could take advantage of as a business owner that it would be beneficial to learn about, which may mean paying a professional. Running a business can be stressful so talk to a therapist. Find a good one and use her. From what I’ve seen, hiring a business coach may be a bit pricey, but I haven’t heard too many people say that getting one wasn’t worth it, including Mandy.
Those are my main takeaways. Give the episode a listen if interested in turning your side hustle into a full-time business.