20 min listen
Taking Your Side Hustle to a Full-time Gig
FromLaunch Your Box Podcast with Sarah Williams | Start, Launch, and Grow Your Subscription Box
Taking Your Side Hustle to a Full-time Gig
FromLaunch Your Box Podcast with Sarah Williams | Start, Launch, and Grow Your Subscription Box
ratings:
Length:
27 minutes
Released:
Sep 6, 2023
Format:
Podcast episode
Description
Have you thought about taking your subscription box business from a side hustle to a full-time gig?
It’s absolutely possible. I did it and so have many members of Launch Your Box.
But…
Before you quit your full-time job or make any major changes to your business, you need to ask - and answer - some questions. And you need to get really comfortable with your financial details, business and personal.
Take your time and get real about what your goals are. Are you currently working 40/50/60 hours a week and want to work less? Do you want to make more income than you have been?
The truth is, you can get there. But you’ll need to make a plan and work that plan. Start by asking yourself these four questions:
What is the income you need to replace?
What is the survival income you need to cover your bare-bones expenses every month?
What portion of that survival income can be covered by someone else (spouse, parents, roommates)?
What is the initial investment you’ll need for your business (products, supplies, packaging, tech)?
Understand that your business will need to be profitable before you can pay yourself. That takes time. It took me 9 months before I was able to pay myself a regular paycheck. 8 ½ years later, I pay myself a very nice salary and also pay the salaries of more than 20 employees.
Join me for this episode as I take you on my journey from tiny side hustle making $200 a month to where I am now, running two multi seven-figure businesses, answering those questions, knowing my numbers, and making careful decisions every step of the way.
Important Links:
Join me in all the places:
Facebook
Instagram
Launch Your Box with Sarah Website
Are you ready for Launch Your Box? Our complete training program walks you step by step through how to start, launch, and grow your subscription box business. Join the waitlist today!
Get 30 Days FREE when you switch to Subbly: https://join.subbly.co/sarah-williams
It’s absolutely possible. I did it and so have many members of Launch Your Box.
But…
Before you quit your full-time job or make any major changes to your business, you need to ask - and answer - some questions. And you need to get really comfortable with your financial details, business and personal.
Take your time and get real about what your goals are. Are you currently working 40/50/60 hours a week and want to work less? Do you want to make more income than you have been?
The truth is, you can get there. But you’ll need to make a plan and work that plan. Start by asking yourself these four questions:
What is the income you need to replace?
What is the survival income you need to cover your bare-bones expenses every month?
What portion of that survival income can be covered by someone else (spouse, parents, roommates)?
What is the initial investment you’ll need for your business (products, supplies, packaging, tech)?
Understand that your business will need to be profitable before you can pay yourself. That takes time. It took me 9 months before I was able to pay myself a regular paycheck. 8 ½ years later, I pay myself a very nice salary and also pay the salaries of more than 20 employees.
Join me for this episode as I take you on my journey from tiny side hustle making $200 a month to where I am now, running two multi seven-figure businesses, answering those questions, knowing my numbers, and making careful decisions every step of the way.
Important Links:
Join me in all the places:
Launch Your Box with Sarah Website
Are you ready for Launch Your Box? Our complete training program walks you step by step through how to start, launch, and grow your subscription box business. Join the waitlist today!
Get 30 Days FREE when you switch to Subbly: https://join.subbly.co/sarah-williams
Released:
Sep 6, 2023
Format:
Podcast episode
Titles in the series (100)
010:From One-Time Boxes to Quarterly Subscriptions with Stacey Collins of Wilshire Collections: This week I’m joined by Stacey Collins, owner of Wilshire Collections and founder of the Décor at your Door Seasonal Subscription box to talk about what release schedule works best for your box? Deciding how many boxes and how frequently you want... by Launch Your Box Podcast with Sarah Williams | Start, Launch, and Grow Your Subscription Box