102. Side Hustles, Hobbies, and Transitioning Out of Your 9 to 5

Budgeting. Living on less than you make. Saving. Investing. These are all fundamentals of building a solid financial foundation. That being said, what about income? What if you want to start a side hustle to bring extra income, turn a hobby into a side business, or turn your side business into your main source of income? On this episode of CFO at Home, Vince discusses those topics and more with former corporate consultant turned entrepreneur and Career Expert Anna Runyan.

Key Takeaways

• Questions to ask yourself when trying to identify a side-hustle 
• • What are things that you do outside of your job that excite you? 
  • What are people asking you to help them with?
  • Identify a problem in the market that intersects with what excites you and what people of asking you to help them with 

• Once you have your idea:
• • Start! Figure it out as you go along
  • Put blinders on to competition
  • Differentiate by building a brand around your product

• Transitioning a hobby into a business
• • Adopt the proper mindset. Commitment to the idea of your activity being a business
  • Time management - Make sure you’re working on revenue producing activities
  • Don’t get wrapped up in the idea of perfection
  • Getting over fear
  • • Have a community of support around you
    • Positive affirmations
  • Create a business plan (simple 1-pager) 

• Preparing to transition from employee to entrepreneur
• • Have a firm handle on your living expenses (personal budget)
  • Have clients lined up
  • Assume a more entrepreneurial mindset

Resources

• The One Thing

Ways to connect/follow

• ClassyCareerGirl
• ClassyCareerGirl - Instagram

Contact the Host - vince@thecfoathome.com