Many people dabble in side gigs, hoping to bring in a little extra cash. Full-time jobs require the majority of time and energy, leaving little left to grow a side business. It is possible to do, however. It’s even possible to grow it so that your side business turns into your full-time job.

Register Your Business

The first thing you have to do is get your business registered. You’ll need to decide what legal entity you want to use, since that will become the foundation for how your business is structured, taxed, and more. Options include sole proprietorships, partnerships, LLCs, corporations, and cooperatives. Each comes with pros and cons and rules for registration. There are different steps you need to take at the federal, state and local level when starting a business. Make sure you thoroughly research your options and what you need to do to be in compliance with laws and regulations.

Hire Employees

Growing a business into something you do full-time likely means you’ll have far more work to do than you are able to do yourself. That’s where employees come in. Hiring employees takes some of the responsibilities that come with running a business off your hands. Of course, not just any old employee will do. Especially when you are growing your business it’s important to attract and hire quality employees to ensure that the people working for you will work hard, be honest, and treat your customers and clients in such a way that they’ll want to do business with you again.

Invest in Your Business

Your business needs to grow, but it can’t do that on its own. You need to continue to invest in it. Time and money are obvious needs. You’ll likely be working more than full-time hours to grow your business until you have the income and employees to allow you to step back a bit. Consider taking a portion of the income your business generates and putting it back into your business. This could mean spending money on equipment and supplies, marketing, employee benefits, business insurance, or other business-related expenses. All of these are things that will serve to further your business endeavor and will help you take it from a side gig to a full-time job.

Taking a side gig to the next level is a big step. There’s a lot that goes into growing and running a business, but it’s absolutely doable. Make sure you set yourself up for success in the beginning and make wise choices regarding who you choose to work for you. And continue to invest in your business, whether that means putting some of your profits back into it, your employees, or to make yourself a better business owner. These will help you take your business from a side gig to a full-time job.

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