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7 Indicators you are ready for a sideline job

October 15, 2022 | Mike Togle

In today's fast-paced world, many individuals are exploring the idea of having a sideline job to add to their income or pursue their passion. A sideline job can provide additional financial stability, personal growth, and many more as I shared in my previous blog (Read: "5 Eye-Opening Benefits to having a Side Hustle").

However, before diving into this venture, it's important to assess whether you are truly ready for a sideline job.

Here are seven indicators that can help you determine if you're prepared to take on a side hustle.

Financial Stability

One of the most crucial indicators that you are ready for a sideline job is having stable finances. Take a closer look at your current financial situation to ensure that you can comfortably manage your expenses, savings, and investments without relying solely on your primary income.

This is crucial especially if your sideline will require some capital.

Remember, a sideline job should be an addition to your income, not a means of survival.

Time Management Skills

Like I always tell my mentees: "If you don't have plans to be successful in that sideline of yours, don't start it in the first place." With that out of the way, sideline jobs still require a significant investment of your time and energy if you want to be successful at it.

If you already struggle with managing your time efficiently, it may not be the right moment to take on an additional commitment. Evaluate your current schedule, commitments, and responsibilities. Gauge whether you can realistically dedicate enough time to a sideline job without neglecting your main career, personal life, or self-care.

A lot of people experience burn-out when they take on a sideline job, for the simple reason that they were over-eager and didn't consider everything on their plate.

Passion and Interest

A sideline job can be an excellent opportunity to pursue your passions and interests outside of your main career. Assess whether you have a particular hobby or skill that you are not only passionate about but can also potentially monetize. Having a genuine interest in the sideline job you choose will make the experience more fulfilling and enjoyable.

Combining your passion with an additional income stream can provide a sense of purpose and satisfaction. But, be careful, as there are also downsides to turning your hobbies into a business or career.

Pursue Your Passion and Interest (Image)

Clear Goals and Objectives

Before starting a sideline job, it's essential to know how to set clear goals and objectives. Doing something on the side, doesn't mean you're just going to do it passively. If you do it this way, you may find yourself disappointed and frustrated down the road.

In setting your goals, determine what you hope to achieve from this venture, whether it's financial growth, personal development, or testing a potential career transition.

Having a clear vision will help you stay motivated and focused on your journey. Break down your goals into actionable steps and create a timeline to track your progress. Regularly monitor, revisit and reassess your objectives to ensure you're on the right path.

Sideline Jobs Need a Supportive Network

A strong support network is crucial when pursuing a sideline job. Share your plans with family, friends, or mentors who can provide guidance, encouragement, and even potential opportunities. Surrounding yourself with a supportive network will help you navigate challenges and stay motivated during the ups and downs of your sideline journey.

Seek advice from those who have successfully pursued sideline jobs and learn from their experiences. I have mentored and are mentoring more than a handful of clients who are growing a sideline job or a sideline business.

Sideline Jobs need a Supportive Network

Willingness to Learn

Embarking on a sideline job often involves stepping out of your comfort zone and learning new skills. Assess your willingness to learn and adapt to new challenges. Some people don't have the appetite for such anymore, especially if they're nearer to retirement.

Why is this important? Having a growth mindset is vital for success in any sideline endeavor. Embrace the opportunity to expand your skill set. Because in having a sideline, you have to stay updated with the latest trends and practices in your chosen sideline field.

Work-Life Balance

Maintaining a healthy work-life balance is essential when taking on a sideline job. Evaluate whether you have the capacity to manage your time effectively and avoid burnout. Create boundaries and allocate dedicated time for your main career, personal life, and your sideline job.

Remember that your main career and personal life should not suffer due to your sideline job, even if you're main objective is to shift away from a regular job. Strive for a harmonious balance that allows you to enjoy the benefits of both worlds.

Conclusion

In conclusion, a sideline job can be an exciting and rewarding venture if you're prepared.

Assess your financial stability, time management skills, passion, goals, support network, willingness to learn, and work-life balance. If these indicators align positively, it might be the right time to embark on a sideline job that can bring you new experiences, additional income, and personal fulfillment.

Remember, success in any endeavor requires dedication, perseverance, and a clear vision of what you hope to achieve.

I have several clients who have started their sideline jobs, and we regularly collaborate to tap our corresponding networks. If you want to be part of it, reach out to me for consultation and let's see how we can work together and align our businesses and sideline jobs.

REALIZATION

"Having a sideline job shouldn't mean sacrificing your main career. But if you want to have a sideline, you have to decide 'why'."

Mike Togle, Retirement Coach

10F Ayala North Exchange Tower 1
Ayala Avenue, Makati City, PH
[email protected]

GET IN TOUCH!

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CAREER GROWTH: COACH MIKE OFFICIALLY PROMOTED TO UNIT MANAGER

October 15, 2022 | Mike Togle

CAREER GROWTH and getting promoted to Unit Manager has always been one of the primary career goals for me. I was already able to prove to myself that I am capable of becoming a National Achiever and a Million Dollar Round Table qualifying member, and agency leadership is the most logical step.

Being a Unit Manager is not just a career goal though.

By leading a team of my own allows me to create more passionate and purpose-driven financial advisers who are eager to financially secure more Filipinos and educate more Filipinos in terms of financial literacy.

Let me tell you a little back story below and allow me to say my words of gratitude.

THANK YOU LORD FOR THE GIFT OF LIFE!

THANK YOU LORD FOR THE GIFT OF GRIT!

For those who knew me from my childhood, leadership is a part of me. I was always asked to lead groups in school, I was appointed as Corps Commander in CAT, I grew into leadership in DLSU-NROTCU as the adjutant, I led a 300-strong gaming community, and I led small teams when I was in IT.

Moving up into a management role in IT was elusive to me. It was one of my frustrations during my 18-year stint in the industry even if I had been tasked to give talks and be an expert in my field.

And I made it my personal mission to grow in leadership here in the insurance industry.

This is my first step.

If you're reading up to this point, I invite you to keep going.

CAREER GROWTH AND SUCCESS

THANK YOU LORD FOR THE GIFT OF SUCCESS.

This is the first seal as evidence of my commitment to grow stronger in this industry and help more people become successful and purpose-driven leaders in their own right.

Backed by almost 35 purpose-driven people and growing to almost 50 by end of year, we want to make a mark and be effective in the mission to secure more Filipinos' futures.

I sign this agreement not only as a piece of paper.

This is my commitment to God, to my family, to my leader, to my team, and myself that I will work for a better tomorrow for everyone around me.

 

Lazurite Capstone 2022

View Image: Picture of the entire team as of June 2023, which is made up of over 35 financial advisors who are purpose-driven and passionate about their mission in helping more Filipinos with their finances.

MENTORSHIP FOR CAREER GROWTH

THANK YOU LORD FOR THE GIFT OF MENTORSHIP.

Since the time I started in PruLifeUK, my goal has always been to grow my career and be part of the leadership team.

And I wouldn't be here if not for my mentors and the people who supported my drive to leadership.

I wouldn't be here if not for those who believed in me.

To my UM partners Arnold, Enrica, Verna, Deth, and Fritz, thank you for always having my back. You never failed to push me forward even to the point I was already stumbling forward. But you never allowed me to trip and fall. In the short time we've known each other, you guys were always there.

To my industry mentors, Maximo Joaquin, Chito Montemayor, Patrick So, thank you for all those times when you gave me a piece of your wisdom and your stories. I value each and every moment.

To my UM mentors Cristina Velasco, Florence Herrera, and BM Raul Coronado, you always believed and supported me, and you never failed to reach out and ask how you can help.

My career growth story wouldn't be this way if not for my forever mentors Sherwin Pelayo, Rene Canlas, Len Canlas, Dave Aguila, Theresa Aguila, Chona Ahorro, and Veck Montaray. We were all together in those 15 years, some of you more than the others, but you were always there to pick me up when I fell. You were there to guide, and you were there to also coach me. You never told me what to do, but you always whispered the right words to lead me. I kinda miss our every day moments at work.

To you who's reading this, thank you and I invite you to keep reading. 

GETTING SUPPORT FOR CAREER GROWTH

THANK YOU LORD FOR THE GIFT OF LOVE AND SUPPORT.

My journey here would have never been fruitful, enjoyable and exciting if not for my primary mentor in the industry. Thank you to my leader, my mentor, my coach, my business partner, mother DM Teri Rombaoa.

Your style of leadership is the kind that makes people want to follow you. Inspiration and motivational leadership is what I've always wanted to have.

I'm the type of person who knows my goal, I have strategies in my head already, I have plans and programs, and you readily figured out that all I needed was someone to listen, to help me choose, and to help me discern. I always thank God for leading me to you.

Thank you Lord for my family, Myla and Calli. You have been my core, my source of love, and my reason to keep going. Thank you always for being there every time I'm tired and need some love and care.
Thank you also to my one and only super supportive brother, Jeps, especially for all the support and help with my video content. Thank yooou!

Of course, my mom Ellen and dad Nonoy as my primary life mentors. Thank you ever so much! Thank you so much for always supporting me and believing in me. Kahit na merong times na busy ako, you always took care of everything else. Your unconditional love will always be that version of love language that I aspire to be consistent with.

Last, but definitely not the least.

Career growth here was worthwhile with a supportive mentor

View Image: Coach Mike signing with his mentor and direct leader, DM Teri Rombaoa.

THANK YOU LORD FOR THE GIFT OF BUSINESS.

Thank you so much to my core team, my partners! Thank you Jemila Sibal, Japhet Segubre, Arlene Jimenez, Abby Figueroa, Anjel Jeresano-Cruz, and Beth Alumbro for sticking with the plan through and through and helping me grow the business. Thank you also to new partners Nelson Velez, Khar Yboa, Riza Badua, Gichelle Adarayan and to my angel staff Crizzle Bea. We wouldn't have gotten here without you.

Thank you to all the purpose driven and passionate members of the team! You guys know who you are and I will always do my best to help you grow into your dreams and aspirations. Hindi ko lang kayo ma-tag lahat here. We'll celebrate soon!

And to my clients. My always supportive and trusting clients. When I knock on your generous hearts, you were there to refer me to your family and friends. Many of my business here are because of your trust and belief that I will be your long term partner.

And I AM.

This is Coach Mike.

Officially, the Unit Manager of the purpose-driven financial coaches of Lazurite Capstone.

We are at your service.

Cheers and God bless!

REALIZATION

"We also deserve to grow our careers and business. You just have to find that career that will give you the opportunities that fit your timeline and ideals."

Mike Togle, Retirement Coach

Conclusion

Going up the corporate ladder was a dream, but going up that ladder was usually for the purpose of having better compensation. Leading people was second to my purpose back when I was still in IT.

Being a leader and career growth in this line of business is different.

By leading more people and helping them succeed in this industry, I get to help more Filipinos with their finances, especially retirement and legacy planning. It becomes more meaningful, and I welcome the responsibilities of this role wholeheartedly.

That's why: If you're looking for a business or a part-time career with a purposeful mentor and coach who will aid you in your career growth, then you will find it worthwhile to do it with us in our team.

I make it my life's mission to help people succeed in this business, because, by doing so, I get to help the Philippine society and future generations of Filipinos.

Get in touch with me below or contact me here.

You can also check out our career openings.

 

10F Ayala North Exchange Tower 1
Ayala Avenue, Makati City, PH
[email protected]

GET IN TOUCH!

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