When you’re thinking of shifting gears and turning your side hustle into a full-time solo venture, you’re going to need to be prepared. There’s definitely a difference between working under a manager or along with a group of colleagues and branching out to be independent and accountable for major business decisions. Keeping these handy pointers in mind before making the leap is going to make that transition feel a lot smoother:
1. Sort out the administrative clutter
Getting all the paperwork and financial details of your venture out of the way will save you a lot of stress when things begin to gain momentum. Spend some time forecasting future costs, and then save a part of your wages so that you don’t have to be overextending yourself when going solo.
You’re also going to want to look into any legal paperwork involved in setting up an organisation so that you aren’t held up on beginning when you’re actually ready to get going. If you’re setting up your business in Dubai, you should know laws differ for freelancers and full-time business owners, so do your research (you can start by checking out our guide for setting up as a freelancer).
2. Figure out where you’ll be setting up
You’re likely used to working from home while you’ve been juggling between jobs, but if you’re committing to a venture, finding an assigned space for work is going to be both motivating and validate what you’re setting out to achieve.
Think about the size of the team you’re going to want to have, and make sure you’re using a space that’s within reason for what you want to accomplish in the near future: that multi-storey glass office will come, just in due time!
3. Define your vision and purpose
Having accountability over a brand of your own means you have to be thinking about what you want the mission and vision for the company to be. These aren’t just marketing tools: they’re going to help you craft a narrative that future clients and customers can relate to, and they’ll help you make business choices informed by values over what seems immediately accurate.
Networking with people and establishing contacts in a wide range of industries, and taking any opportunity you have to spread the mission of your organisation will also help you gain confidence in pursuing your solo venture. While it may be intimidating going out on your own, being invested in what you’re doing and staying willing to put in the work necessary to make that happen will go a long way in your success.