Let me start by asking you a few questions – have you ever considered starting a side hustle? What’s holding you back? Do you currently have a side hustle, or have you had one in the past? What are your passions and skills inside and outside of accounting?
As accountant moms, we understand that the balancing act of managing a demanding accounting career alongside the joys and responsibilities of motherhood is nothing short of a superhero feat. It’s a challenge that many of us face daily, but it’s also a challenge that can open doors to incredible opportunities for personal growth, financial independence, and creative fulfillment.
Today, I want to explore the world of side hustles, how to identify your passions and skills to set the stage for your very own side business, and why this journey is worth every moment of your time.
I remember the exact moment I made the decision to start my own side hustle. I was listening to a podcast hosted by my mentor, and she said, “If you are happy more than 80% of the time, your goals aren’t big enough.”
At that moment, I knew I had to put more effort into rebuilding my side hustle; my coaching business. I had studied to become a certified life coach years prior to this, had focused on divorce coaching, and had let it fall to the wayside over the years.
But on that day, listening to her podcast in my car, I knew I needed to revisit my true side hustle dream and coach accountants.
It was a blend of a deep-seated passion for self-development and a desire for financial independence that relit the fire under my side hustle desire. Believe me, it has not been a walk in the park, but the journey has been nothing short of life-changing, both personally and professionally.
So, whether you’re already well into your side hustle journey or just beginning to explore the possibilities, this episode promises invaluable insights and practical tips that will not only inspire but also empower you to take the next steps on your path to side hustle success.
If you’re ready, let’s explore the fascinating world of side hustles for accountant moms and discover how to strike that delicate yet achievable balance between being a loving mom and a successful mompreneur.
This week on the podcast I’m going to discuss why a side hustle might matter to you, identifying your passions and skills, and time management and prioritization.
Why a side hustle might matter to you
So, why should you, as an accountant mom, consider starting a side hustle? Well, there are several compelling reasons, so let’s unpack some of them.
One of the most significant benefits of having a side hustle is the potential for increased financial independence. As an accountant mom, you know the importance of financial stability and planning for the future.
A side hustle can provide an additional income stream that offers you and your family greater financial security. Whether it’s saving for your child’s education, paying off debts, or building an emergency fund, a side hustle can help you achieve these financial goals.
Diverse Skill Set
As an accountant, you possess a valuable skill set that can be applied in various ways. A side hustle allows you to leverage your accounting knowledge and expertise in creative and innovative ways beyond your 9-to-5 job.
Whether it’s offering financial consulting services, bookkeeping, or tax advisory, your skills can be in high demand in the gig economy.
Many of you may have passions and interests outside the accounting world like I do. A side hustle provides the perfect opportunity to explore and monetize these passions.
Have you always dreamed of starting a baking business, creating handmade crafts, or offering fitness coaching? Your side hustle can be the gateway to turning your dreams into reality.
Balancing a full-time accounting career with motherhood can be challenging. A side hustle offers you the flexibility to work on your terms.
You can choose when, where, and how much you work, making it easier to adapt to the ever-changing needs of your family.
Let’s not forget the immense personal fulfillment that comes from pursuing your own venture. It’s an opportunity for self-discovery and growth.
The sense of accomplishment and satisfaction that arises from building and growing something of your own is truly priceless. I cannot tell you how much my life has changed and improved since I challenged myself to build my own coaching business from the ground floor.
Future-proofing Your Career
In today’s rapidly changing job market, having a side hustle can serve as a form of career insurance. It diversifies your income sources and hones your entrepreneurial skills, which can be invaluable in an uncertain economic climate.
Role Modeling for Your Children
I say this all the time, but our children are always watching us. By embarking on a side hustle journey, you can set an inspiring example for your children.
You teach them the importance of hard work, determination, and pursuing their passions. Your side hustle can become a powerful life lesson that they carry with them into adulthood.
So, whether you’re motivated by financial gain, personal fulfillment, or a combination of both, side hustles hold immense value for accountant moms. It’s not just about adding another item to your to-do list; it’s about unlocking your potential and creating a brighter, more balanced future for you and your family.
Identifying your passion and skills
Now, I’m going to explore a crucial step in your side hustle journey: identifying your passions and skills. The following steps will help:
Step #1 – Self-Reflection
To start this journey, take some time for self-reflection. Ask yourself, “What am I truly passionate about?” Think about the activities that excite you and bring you joy outside of your accounting career. Your side hustle could be related to accounting, but it doesn’t have to be.
It could be a hobby, an interest, or even a cause you’re deeply passionate about. Identifying your passions is the first step towards finding a side hustle that doesn’t feel like work. For me, that was self-development so becoming a Professional Certified Coach seemed like the next natural step.
Step #2 – Skill Assessment
Next, assess your skills. As an accountant, you possess a unique set of skills, including financial analysis, attention to detail, and organization. Consider how these skills can be applied beyond the realm of accounting.
Are there industries or businesses that could benefit from your financial expertise? Perhaps you could offer consulting services or become a freelance financial analyst.
Perhaps you love organizing things and could start helping other accountant moms with their organizing needs.
Step #3 – Combining Passion and Skills
Now, here’s the magic: find the intersection between your passions and your skills. This is where your ideal side hustle lies. For example, if you’re passionate about fitness and have a knack for numbers, you might explore opportunities in financial planning for personal trainers or fitness bloggers.
Or imagine you have a deep passion for creating memories for your children’s birthdays, and you’re a natural at event planning. Your ideal side hustle could involve organizing customized children’s birthday parties.
Step #4 – Market Research
Once you’ve identified a potential side hustle idea, conduct market research. Is there a demand for your chosen niche?
Who is your target audience? What are your competitors doing? Understanding the market landscape is essential to ensure that your side hustle has a viable market. Basically, make sure people want to pay for what you’re going to offer.
Step #5 – Test the Waters
Before fully committing to your side hustle, consider testing the waters. You can start by offering your services or products on a small scale or as a part-time gig.
This allows you to gain experience, build a client base, and refine your offerings. This is the time to make sure you have proof of concept and that you are willing to make changes based on what you learn.
When I started coaching accountants, I knew every accountant would benefit from working with me, but I needed to make sure they saw the value and that I could customize a program that would address their biggest struggles.
Step #6 – Seek Feedback
Don’t hesitate to seek feedback from friends, family, or mentors. They can provide valuable insights and help you refine your side hustle idea. Constructive criticism can be your best friend in the early stages.
Step #7 – Adapt and Evolve
Remember that your side hustle doesn’t have to be a static endeavor. It can evolve and adapt over time.
Be open to tweaking your offerings or exploring new opportunities that arise as you gain experience. My mentor taught me to be willing to be wrong and throw as much spaghetti against the wall to see what sticks.
Step #8 – Finding Inspiration
To inspire you further, here’s an example: Imagine you’re passionate about eco-friendly living, and you excel at financial planning. Your ideal side hustle could involve offering financial guidance to individuals looking to invest in sustainable and ethical businesses.
You’re not just doing what you love; you’re also making a positive impact on the world.
In other words, think outside the box. Are others doing what you’d like to do? Learn about them or from them.
Just know that your side hustle should be a labor of love, fueled by your passions and supported by your skills. It’s the convergence of these elements that will make your side hustle not only sustainable but also deeply fulfilling.
Time management and prioritization
If you’ve been listening to this podcast for awhile, you probably knew I’d get to the topic of time management at some point in this episode. Let’s face it, you’ve already got a busy schedule so how in the world are you going to add a side hustle into the mix?
The answer is effective time management and prioritization.
The first step in effective time management is to define your priorities. What matters most to you? Your family, your accounting career, and your side hustle are all essential elements of your life, but they may not all carry equal weight at all times.
Knowing your priorities allows you to allocate your time accordingly.
Once you’ve identified your priorities, set clear and specific goals for your side hustle. What do you want to achieve, and by when? Setting measurable goals helps you stay focused and motivated.
Next, a well-structured schedule is your best friend. Allocate specific blocks of time for your accounting work, family commitments, and side hustle.
Stick to this schedule as closely as possible, treating your side hustle with the same level of commitment as your other responsibilities.
Consider using time-blocking techniques. This means dedicating chunks of time to specific tasks related to your side hustle. For example, you might allocate two hours in the evening after your kids are in bed for side hustle activities like product creation, marketing, or client outreach.
For me to make it possible to build my coaching business while also managing my accounting career, I made early morning my side hustle time. When I decided I wanted to write my book, “The Smarter Accountant,” that early morning time slot is how I wrote and published the book in one year.
It’s also important not to be afraid to delegate tasks or outsource certain aspects of your side hustle when possible. Whether it’s hiring a virtual assistant to manage administrative work or enlisting family members to help with household chores, delegation can free up valuable time for you.
It’s also essential to set boundaries and learn to say no to commitments or distractions that don’t align with your priorities. This can be challenging, but it’s a vital skill for effective time management.
Make sure you leverage technology to streamline tasks and save time. Use productivity apps, scheduling tools, and automation to reduce manual work and increase efficiency.
Remember to practice self-care; it’s non-negotiable when you’re creating a side hustle. Taking care of yourself ensures you have the energy and mental clarity to manage your various responsibilities effectively. Allocate time for self-care activities, whether it’s exercise, meditation, or simply enjoying a good book.
Lastly, make sure you regularly review your time management strategies and adjust them as needed. Life is dynamic, and what works one month may need tweaking the next.
Just know that as both an accountant and a mom, you possess a unique blend of talents and resilience, making you perfectly equipped to conquer the world of side hustles. Remember that your side hustle isn’t just about adding another responsibility to your plate; it’s about pursuing your passions, achieving financial independence, and striking a harmonious balance between family, work, and self-care.
The path to side hustle success may have its challenges, but it’s also filled with moments of growth, fulfillment, and endless possibilities. So, don’t hesitate to take that first step, whether it’s exploring new opportunities, refining your skills, or launching your own venture.
Plus, you never know when a side hustle could become the next iteration of your career. That’s my plan and I can’t wait to see how it unfolds.
Whether it’s saving for your child’s education, paying off debts, or building an emergency fund, a side hustle can help you achieve these financial goals.
Just know that your side hustle should be a labor of love, fueled by your passions and supported by your skills.