In Australia, 32 per cent of women in business started their own creative pursuit while they were on maternity leave, 77 per cent of which believe they are happier as a result.
According to the research, women start a business to cultivate their own working hours in a location that is convenient to them and their families.
These statistics are not a surprise when you hear that 1 in 3 women across the country will develop a side hustle – i.e. a small business they start as a hobby or income generator that sits alongside their standard job.
While the figures are significant, a question I’m often asked is, how do I know if my side-hustle could be a successful business?
If you’ve ever thought of throwing in the corporate towel and escaping the rat race to be your own boss, consider these five signs that your side hustle could be a success before handing in your letter of resignation.
1. Strong Self Belief
One of the main reasons why some people don’t succeed in business is the high levels of self-doubt that cloud their ability to make great things happen.
If you genuinely believe in your heart of hearts that owning and running a business is yours for the taking and you know you are more than capable of overcoming hurdles to succeed, then you’re more than half way there! A strong self-belief and positive mindset is vital, especially when you’re knee deep in the start-up phase and start questioning your decision.
As I like to say to the Woman Rising Network tribe, ‘With an unwavering belief in yourself, anything is possible.’
2. You Can Block Out Other People’s Opinions
As you start to shift from your comfort zone to a new way of life, it is natural that friends, family, colleagues and even strangers who ‘mean well’, will give you their unsolicited opinion on your professional circumstances. They’ll tell you it wont work. They will share a stories of a friend of a friend who tried but failed. They will argue that no-one will pay for your services or products because they already exist. Or better yet, they simply wont understand WHY you’d want to.
When you first decide to step out on your own, grow and evolve in business, people will want to cut you down to size with their ‘honest and caring advice’, but you’ll succeed because you can confidently push their B.S. aside and not take their uninformed opinions on as your reality. Go you!
3. You Don’t Fear Failure
If you go off track, discover the road is more bumpy than you initially thought or overestimate your genuine desire to run a business, then you’re OK to walk away and pat yourself on the back for giving it a go.
Many people have incredible business ideas but never take the leap of faith because they are afraid to fall on their face out of fear of what it could look like. But you know your self worth is not measured by the bottom line and taking the courageous decision to close shop is one you can take if necessary. Let’s be honest, you’d rather try and fail then go down thinking “What If?”
4. You’re Heart-Driven
You see a need in the industry and you’re driven by the great internal desire to serve the world over and above your bank balance. When you work from the heart, you’ll be more willing to overcome unforeseen circumstances or road blocks along the way because you really have no other choice. You love what you do and can’t see another way. If you are that driven, authentic and passionate, then you’re success is only a matter of time.
5. You’re Willing To Work Hard And Genuinely Want Success
Starting a business is one thing but sustaining it with daily focus, hard work and commitment is another. But you’re a WOMAN RISING, so this doesn’t scare you in the slightest.
You’re fired up and ready to take on the daily grind to get your side-hustle off the ground. You’re motivated, positive and disciplined when and where it matters to create success.
If you’re ready to lead by example and take on the attributes of a successful person in order to manifest the same opportunities and experiences in your business, then secure your crown and get to work.
The world is waiting for you.
If you’d love a cheer squad to help you make great things happen and access inspiration and motivation without leaving home, become a Member of The Woman Rising Network and join the unapologetically ambitious movement of women in business. Learn more about it and sign up here >