On November 2020, It was a huge wake-up call to everyone when the Covid-19 pandemic struck. Employers rush to cut spending and fire many of their hardworking employees. Especially those in the hospitality sector, with the uncertainty that tourism will be back anytime soon, people soon realize that having a full-time job doesn’t actually guarantee job security. It’s no surprise that with the rise of the Internet, many workers are now finding ways to make income online. And I am no exception to that too.
During the Pandemic days, I set out with a goal to make as much income online and not be dependent on anyone for income. After 3 long years, I finally get to break off the shackles of the 9-to-5 and work for myself.
So if you are interested in how I did it, do read all the way to the bottom where I share my story and what I did to now make way more than my full-time income.
Why I decided to quit a 9-to-5 job
Back in 2020, I was still schooling and trying to make money on the side. My hard work paid off and skyrocketed my networth to over $100,000 at age 24 in Singapore, which is a big deal since most Singaporeans finish their schooling at 25 to 26 years old with loads of debt.
I worked a full-time job as a Property Manager, although the pay was decent. I never had the opportunity to use my time for what I wanted. Essentially, I was selling my soul to make money for the business. I didn’t like that.
I wanted something for myself and to make money on my own term at my own pace. Which is tough in Singapore. So I carefully planned my exit strategy from the company and find ways to not be tied down by work hours. And there is no better way to make money than making income online.
Starting my own business as a side hustle
Ever heard of a young 20s in Singapore starting their own business? Probably not that many rights! It’s hard to start a business from scratch since most of my peers around weren’t excited about starting a business. Being in a strict Asian family that works hard for corporations for their paycheck. I can understand why they were worried about my decision to start a business.
I started HustleVentureSG with nothing but a strong ambition in mind. To be independent and help others achieve their financial goal. My obsession became a drug that kept me up late and working on my dream for the past 1 year. This was tough considering that I worked a 9-to-5.
The first 6 months
I have no doubt that most people will start to question themselves when they first start a business. I did too. The multiple sleepless nights just thinking and grinding to make my dream happen. As Elon Musk once mentioned, “starting a business is like staring into the abyss and eating glass.”
My blogging was not earning almost anything to get the returns I thought I could get. Honestly, at this point, I wanted to give up. But this was also the point where I was so driven and motivated to make sure the business make money. So I converted the blogging business into a content agency.
The Ray of Hope
$5 gig grew to over $100 service. People liked my service! In the coming months, clients came rushing in. Although it was mentally stressful knowing that I had to juggle work with a side hustle. My determination to get work done mindset pushes me on to get their work done.
In the coming 3 months, HustleVentureSG broke even with the amount it had spent. The business is now in the green. As the business expand, I hired 2 employees to support the writing of content and translation(English to Chinese) for the business. Things have started to look great. That day definitely ranks in the top few of my happiest moments.
The Exit Strategy
Quitting a job that you have worked for a year is definitely hard. I did enjoy working for the company and with my colleague. But I knew it was time to go. I am now making twice as much as my full-time job and now have the time control I dearly wanted.
The business plan for you
Learning from all my mistakes and good choices. I thought it won’t be fair to my readers to note know how they can start their online business to make income online. So here is what works for me that I think is worth sharing in order for you to make income online to hopefully rely upon.
Understand Supply and Demand
This is where I screwed up BIG time. I created a personal finance channel, but the thing is. There are already plenty of those in the market. I was no different from the market and so no one was interested in what I had to offer.
Find a niche, this takes trial and error. Most importantly, your niche should be something unique and sellable. How my skills as a personal finance specialist content writer were a unique trait that people are looking out for. If you want to find what sells, you can be a freelancer on Fiverr(click this link for a referral) and place in the top 5 most sellable services you can sell. From there, you let the market decides what they need.
Give yourself a timeline
The problem I had back in the first 6 months in the business was that I never had a timeline for my work detailed out. The problem most people including me face is the issue of only seeing the finishing line without looking at the stops in between.
Starting a business won’t get you overnight success. It takes careful planning of set-by-set processes in the business to get you there. For me, I set my goal in finding the fastest way for the business to make the first $500. Then, slowly add more sets along the way which I am able to manage.
You will be alone
It took me quite a while to understand this until I experience it first-hand. No one, including your closest friends and family, will help you in your business. This is where most people fail in their business ventures, they expect help.
Sorry to disappoint you, but no one is going to understand your business more than you do. So there will be no one as determined to make the business succeed more than you do. Find what works and make money from it. Only bring in people when you are able to pay equity to them.
There are tons of advice I can give that will make this article too lengthy. And I am a huge believer in paying for what you get. So I will be sharing my SEO consultation service with all my readers who have made it this far.
Bomb a question, ask anything. The point is, as a business owner who now manages over 3 different websites to help others make income online. I believe my service would be of high value for you to get started.