So you’re doing your passion project or side job together with an 8-5 work. It could be baking, online selling, painting, photography, playing music in a band, or anything that you really like! It’s fun and exciting earning more at the same time, juggling things on your hands, doing what you really love, and feeling productive doing so much more than an average person in a day, but sometimes it could be exhausting. It can’t be helped that one demands more time and attention than the other.
What if you were to choose between your side job or passion project and your 8-5 work? Between your passion and financial stability? Between taking the risk or staying inside your comfort zone? Between doing what makes you happy and doing what makes you feel safe financially? Will you do it? What will you choose?
There’s no right or wrong answer here. We all have our choices and reasons and that’s perfectly fine! I know most of you will be choosing financial stability. We all have bills to pay so why not!
For now, I’ll be discussing the signs you should consider to quit your job and turn your passion project or side job into a full-time gig (yes you can do it!) :)
1) YOU HAVE ENOUGH SAVINGS
I know that you’ll never have ‘enough’ money in your bank account. We just need more and more cash to stash. It keeps us going somehow. It’s human nature.
But for purposes of this post, what I mean by ‘enough’ is that you have funds to cover your finances for the next 3-6 months assuming that your passion project/side gig won’t do well-- emergency funds included (but relax, you’ll be fine!).
2) YOU HAVE ESTABLISHED AND MANAGED YOUR SOCIAL MEDIA PLATFORMS WELL (esp for Online Freelancers)
You have a high rating on Facebook and you already have a huge following who are all potential clients and sure it’s gonna grow more. You get a lot of likes and comments when you post and you notice a lot of your followers are tagging their friends on the comments and these friends are tagging somebody else. Or maybe you have an excellent rating on your Upwork account.
This only means that you’re doing really well for them to refer you to other people. One of the best ways to market your stuff or yourself is by word-of-mouth. It spreads fast like wildfire haha. (We had most of our massage clients in Peru by word-of-mouth!)
3) YOU HAVE REPEAT CLIENTS
Having repeat clients is a continued assurance that you’re doing an excellent job with your Passion Project or Side Job. This means they really loved the cakes you baked, the photos you shot, the music you played on their wedding, or the handmade jewelriy you made for them not to find another option.
4) YOUR CLIENT REFERS YOU TO HIS/HER FRIENDS
These clients wouldn't refer you to other people if you’re not good enough. This means they trust your work ethics, appreciate your craft, and value you as much as they value the people they are referring you to.
5) YOU FULLY UNDERSTAND HOW THE BUSINESS WORKS
Running a Passion Project or a side job isn’t all about selling or marketing. You need to at least know about Financial Literacy, Leadership, Time Management, Contract Drafting/Signing, Writing a Business Plan, Basic Knowledge of the Law, Goal Setting, etc.
6) YOU KNOW THE RISKS AND YOU’RE UP FOR THE CHALLENGE
This is a very important factor to consider. Choosing a side gig or a passion project means that you’ll be letting go of the 1,000 USD you get paid from work every month for a chance to earn more (or maybe less, or maybe none at all).
That’s a big risk you are going to take. 1,000 USD a month is a big amount of money especially when you have a mortgage to pay. Do you think it’s worth the risk? Then go for it!! :)
7) YOU ARE PREPARED FOR SETBACKS
Focusing on your side job or passion project doesn’t guarantee success so be prepared to face it. If you’re doing freelance work, then there will be times that you wouldn’t get a client for a few weeks. If you’re trying to sell your homemade cookies, then maybe you wouldn’t be able to sell everything.
Most businesses close without the owner’s fault. Remember how Zagu used to be so popular before and how many branches they have? What about the Red Velvet Cake that was sold by everyone a few years ago? What about Project Pie where you have to wait for hours before you can get in before but the stores seem to be empty now? (I know you get what I mean!)
8) YOU’RE READY TO CONQUER THE WORLD AGAIN IF ALL ELSE FAILS
Money flies. Sometimes, you wouldn’t even notice that you’ve already spent your entire savings. In this case, you have to face the truth and find another 8-5 job. Don’t worry! You’ve done it before and you can do it again. Having a failed Passion Project or Side Job isn’t the end of the world. Fall down seven times, get up eight times! ♡
As for me, my Passion Project is this blog and obviously, I chose it over my 8-5 job. I’m doing it full-time now and using this tool, I have visited more than 120 countries. I’m telling you the road to get here wasn’t easy. Me and my husband taught english in Vietnam, we became Massage Therapists and Yoga Instructors, we even cleaned toilets in exchange of free accommodation!
It was a roller coaster ride. Now, the 8 hours that I used to spend at work is now spent being my own boss, staying at luxury hotels for review, taking care of my husband and sailing with our small family. I’m loving every minute of it. If asked if I’d choose my Passion Project all over again, the answer is I certainly will! ♡