#59: What are the growing pains when scaling your part-time side hustle to a full-time business?

Season #1

Episode 59: What are the growing pains when scaling your part-time side hustle to a full-time business?

Join Josh and Amelie as they discuss coaching clients with biweekly pay, including what to do with those magical three paycheck months!

Top takeaways:

  1. The biggest mistake is that people view it as replacing an income–but you’re replacing an entire job (salary AND benefits!), not just your gross annual salary.
  2. The second biggest mistake is that people believe they can replace their job without a leap of faith.
  3. If your company’s revenue drops 20%, your paycheck reflects that 20% drop.
  4. If you’re starting from scratch, two years of runway is a bare minimum and three is much safer.
  5. If you’ve got a good headstart (say, halfway to where you’d like annual revenue to be), then a year of runway would be safe.
  6. If you feel like you have no other choice or if there are significant changes happening in your personal life, those are not great times to try to go full-time.

Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey: