When Should You Start Your Side Gig?
There are two good times to plant a tree…
Many people ask me when to get started on their new business ventures. That answer varies widely depending on industry, experience, and the strength of your network. However, as the old Chinese proverb says, the best time to plant a tree was 20 years ago. The second best time is today.
What industry are you targeting for your new business? Today, people are looking for the get-rich-quick low-bar to success business. Those types of opportunities just do not exist. You are going to have to work at it. Therefore, consider what you would want to do, even if you were not making any money at it. The road from zero to replacing your day job can take years.
Because of this, you had better like what you are doing. Apples are delicious, but an apple tree can take more than eight years of nurturing to bear fruit. Hopefully, your venture will be profitable before that but don’t bet on it. Instead, choose your side gig carefully. It is something you will be doing for a long time.
I started my coaching business four years ago. I have had some good quarters and some bad ones. Yet, whenever I think it is time to give up, I get a sign (like a new client or a speaking gig) that encourages me to keep going. My side gig will not be my primary source of…