Make a Money Plan for Your Side-Hustle

So you want to turn your side-hustle into financially sustainable full-time business? You ache to escape your 9-5 or support your family through your business, but getting from where you are now to where you want to be isn’t as obvious as it sounds.

Perhaps you’re feeling vague about the numbers, perhaps that’s because you avoid looking at them for fear of what you might find, or you tell yourself ‘I’m just not good with numbers.

Truth bomb: You need to understand, and have clarity around your numbers if you want to take your side-hustle full time.

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If you own a business, even if it’s ‘just a side-hustle’, you need to get your head around the numbers, pronto! You need to know, at what point your business has become financially sustainable and what you’re actually aiming for.

But, the good news is that I have a simple process and set of exercises for you to work through that will help you get more clarity and confidence around the numbers. And that’s what I’m taking you through in this video.

Make a Money Plan for Your Side-Hustle

Figure out what your expenses are

Start with your lifestyle expenses. Note down all of your regular lifestyle costs - rent, mortgage, bills, insurance etc. Add them all together and see what that totals up to. Do the same for your business expenses, and then add them to your lifestyle expenses. That total is your bare minimum, the bare minimum you need to earn in your business, in profit, to cover all of your essentials.

Set your income goals

Start with your bare minimum goal - this will be the total of your business and lifestyle expenses added together.

Next, set your core goal - this is a level of earning you’d be comfortable living with. For example, for a lot of my clients who leave their 9-5 their core income goal ends up being what they used to be earning in their 9-5.

Finally, set a stretch goal. Something to aim for in the longer term or if you were to put a lot more energy into selling and marketing.

Figure out your profit margins

For each of your products and services figure out what the profit is on each one. Be as exact as possible with this. If you’ve not done this before, it may take some time but it’s so worth doing.

Get scenario planning

Play around with some different scenarios of what number of products and services you need to sell to reach your income goals. Find a few different scenarios that add up to each income goal.

Make adjustments

If you’re struggling to reach your income goals in the scenario planning, there are a few tweaks you can make to help you get there. Have a think about where you can reduce your lifestyle or business expenses, put your prices up or introduce a new income stream.


I hope that’s helped you get some clarity around the numbers in your business. I’ve created a workbook called Make a Money Plan to help you work through all of these exercises in a super simple and practical way. You can buy the Make a Money plan workbook in my shop OR, if you’re a member of my community Nurture & Thrive, you get unlimited access to all of my workbooks and templates with your membership.

Make a Money plan to take your side-hustle full-time, taking a side-business to financially sustainable, Financially stable creative business - Josephine Brooks
Josephine Brooks