What financial advice do you have for entrepreneurs who want to turn your side hustle into a full-time hustle? Don’t commingle all your funds. Have a separate bank account for your side hustle. It will give you more visibility into how you’re doing. Write out your budget for the next three months, 3 to 6 months. Make sure you have enough savings to build an “if this, then that” plan. Like “if I’m not able to replace my salary with my side hustle within the next three months, then what am I going to do? Because then once you have the plan, if it happens, you’re not emotionally paralyzed, and you can act.

Let’s run through a few side hustle scenarios. If I sell merch on Etsy, and I’m not sure if I can become something bigger, what do I do? If you also have a day job, then the first question is this going to replace your income or just creating supplemental income? If you’re making a profit and if it’s not taking up all your time, and if you feel like you can continue to grow at a slow pace then do that. If it’s not broken, don’t try to fix it. I think a lot of the times people will try to solve a problem then maybe isn’t there?

Here’s another scenario I have an idea for a side hustle. How do I know if it has legs? Are you making money? If you’re not making money, it’s a hobby. The next question is how much did you spend on the side hustle? If you’re making 10,000 a month but you’re spending 10,000 a month you’re treading water. I need you to be moving forward with your side hustle.

Do you suggest testing your side hustle? Testing is smart. You can run a Facebook advertising; you can create a landing page before the products ship. Make a waitlist. There are types of ways to evaluate without putting too much of your money on the line.