When To Give Up On A Side Hustle – And When To Keep Going

by | Jul 19, 2021 | 9-5 Life, Burnout, Corporate Culture, Entrepreneurship, Lifestyle | 0 comments

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Should You Just Give Up?

Are you one of the 44 million US citizens who have a side hustle?

Being an entrepreneur has sky rocketed over the last decade.

Frankly, it’s never been easier to get started with all of the tools online today.

It’s penetrated social media, the youth and pop culture – it’s definitely what the cool kids are doing. Make sure that you’re not doing it to impress others.

But while some do quite well – not everyone that has a side hustle can be successful.

You have to know when to call it quits, and when to keep pushing on and pushing forward.

There are a few warnings sides to look out for, especially early on, that will let you know if you’re not cut out for the entrepreneur life.

Having a side hustle is a great idea for your growth and affluence. Many people start a side business or company to materialize their dreams and ideas but only a handful of them know when to convert it into full-time work and when to stop putting excessive efforts into it.

So, as I said, it is a brilliant idea to have a side hustle for yourself but along with that, you must be cognizant of its dos and don’ts.

It’s an absolute grind and it’s not for everyone.

You’ve Lost Motivation

If you think that it’s just a motivation related issue – we can actually help.

We have a daily motivational quote subscription that we send out to all of our customers, just like you.

If you’re on the verge of quitting and think a daily motivational boost will help you – consider joining.

How You Ended Up Here

If you’re debating whether or not to throw in the towel, take a look a these bullet points first.

Make sure that you’re doing ALL of the following:

You Have The Correct Foundation

Whenever you have a business concept, spend time investigating it. It would be extremely unwise to implement a concept without sufficient planning and thinking. Start your own business, drive an Uber, or start a blog; none are easy or undemanding. Even if you want them to be side hustles, they too demand strategic thinking and a good work schedule.

So, the initial step should be to research the idea’s success rate.

Next, create an action plan and stick to it.

If you spend too much time on your side hustle, your primary work, which is your source of money, may suffer, and you may wind up failing at both. So, be smart and use your energy wisely to succeed in your major work and side hustle.

You Don’t Give Up Immediately

Well, people might put you down when they see you juggling with two balls or you might face invalidated overall. But, you must remain adamant and not give up on your side hustle by developing a growth mindset, following your action plan devotedly, and having a strong conviction in the beauty of your dreams.

Make sure that you’ve been working on this for at least 6 months. Don’t give up before this marker.

You Still Have A Full Time Job

Now, scores of people start doing well in their side hustle and keep getting the temptation to get rid of their over-demanding 9-5 work schedule.

Keep the following plan in your mind before you leave your full-time job for your side hustle:

  • Aim to harness enough clients/sales to cover or exceed your pay.
  • To guarantee that your successful month was not a blip, aim for 3–6 months of success.
  • Once you’ve determined that you can create sufficient revenue (equal to or greater than your wage), you can quit your job and devote your full attention to your side hustle.

Similarly, if you stumble in your side hustle and feel like a failure, consider switching to another project. Sometimes we make a poor decision and never make a fortune as a result of it. However, if you put your heart and soul into the appropriate kind of side hustle, success will find you.

Should You Call It Quits?

So you’ve done everything mentioned above, and you’re still here?

You really have 3 options at this point.

1) You can pivot

Maybe the first venture wasn’t perfect. Not everyone gets it right on the first jump. So don’t be so hard on yourself.

Has there been another idea in the back of your mind that you’ve though about pursuing.

Maybe it’s time for you to take the leap and start on that new business idea that you’ve been ignoring.

2) You can continue

This is a good option if there’s light at the end of the tunnel.

Do you already have customers?

Do you already have an MVP (Minimum Viable Product) or a functional product?

If you answered “yes” to both of the above – maybe you just keep plugging along.

3) You can quit and do something else

It takes a wise person to know when to end something.

Lots of head strong entrepreneurs just don’t know when the give up. They push on certain ideas for years, with no success.

We’d say as a hard line that if you’ve been working on a “side hustle” for the past +18 months and you have zero customers – it’s probably time to consider pivoting to something else.

Your time is precious and we don’t want you wasting it on an idea that’s not going to produce for you.

The Final Thought

The wise entrepreneur knows when to call it quits.

Calling it quits can free up your time for another venture.

When things don’t work out for us, our advice to clients is always to pivot to something else – but not until they’ve confirmed that they have done everything in their power to succeed. 

Some ideas, are great in theory, but the exection is just impossible to generate a revenue from.

Either way, we’re here for you and want to hear how your struggle with entrenpreneurship is going.

Good Luck! 

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