043: Taking Your Side Hustle to a Full-time Gig

Launch Your Box Podcast with Sarah Williams | Start, Launch, and Grow Your Subscription Box

Have you thought about taking your subscription box business from a side hustle to a full-time gig?

It’s absolutely possible. I did it and so have many members of Launch Your Box.

But…

Before you quit your full-time job or make any major changes to your business, you need to ask - and answer - some questions. And you need to get really comfortable with your financial details, business and personal.

Take your time and get real about what your goals are. Are you currently working 40/50/60 hours a week and want to work less? Do you want to make more income than you have been?

The truth is, you can get there. But you’ll need to make a plan and work that plan. Start by asking yourself these four questions:

• What is the income you need to replace?
• What is the survival income you need to cover your bare bones expenses every month?
• What portion of that survival income can be covered by someone else (spouse, parents, roommates)?
• What is the initial investment you’ll need for your business (products, supplies, packaging, tech)?

Understand that your business will need to be profitable before you can pay yourself. That takes time. It took me 9 months before I was able to pay myself a regular paycheck. 8 ½ years later, I pay myself a very nice salary and also pay the salaries of more than 20 employees.

Join me for this episode as I take you on my journey from tiny side hustle making $200 a month to where I am now, running two multi seven-figure businesses, answering those questions, knowing my numbers, and making careful decisions every step of the way.

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