Hit $50k in side work last quarter and it kinda scared me

I've been doing small electrical jobs on weekends for about two years now. Nothing major, just swapping outlets, adding lights, that kind of stuff. I added up my invoices for Q3 and hit just over $50k which is way more than I expected. It's got me thinking about whether I should just leave my retail gig and go full time. Has anyone else here jumped from a regular job to running their own trade business full time? How did you know when it was time?

2 comments

2 Comments

barnes.shane13d ago

Did you read that article in the Wire a few months back about how most successful solo tradespeople hit this exact crossroads around the $40-60k mark? It's a solid sign you're doing something right, but maybe set aside a safety net (like 3-6 months of expenses) before you jump, just in case the gigs slow down for a season.

jakeperry13d ago

Well, I guess if you're hitting that $40-60k wall, at least you're in good company with the rest of us who can't decide if we're winning or just slightly less broke. Funny how the "do something you love" advice never mentions the part where you have to hoard cash like a paranoid squirrel. But hey, a safety net sounds better than my current strategy of hoping the next job comes before the credit card bill.