When should you walk away from your busyness?

When her part-time job picked up again, the multitasking came to a head and she knew she had to decide: make the transition to a full-time consultant or walk away altogether. “It started to get to a point where I felt like I was burning out,” she recalls. “Financially I didn’t feel ready for it. It also just felt incredibly emotional.”

How do you know if it’s time to take a step back?

Spending endless hours building something you’re passionate about takes perseverance, but sometimes things don’t turn out the way you expect. Often, many people trying to build a business feel exhausted or financially on the edge, but walking away can feel like turning your back on your dreams. Experts say an analytical approach can help determine whether it’s time to throw in the towel.

In Warwick’s case, she drew up a list of conditions to help her make a decision.

First, she said, was setting cash flow goals with a set timeline. Then it was time to strengthen her emergency fund and finally draw a roadmap for building her client base with set revenue goals. The deadline she set for herself was one year. “If we didn’t reach these conditions by the end of 2022, I would take some space away and just focus on my role in engineering,” she recalls.

The plan worked. With specific goals in mind, Warwick was able to achieve this. Today, the co-CEO of Thoughtful Co. with clients, including some who are at the same crossroads, and debates whether or not they should continue with their side hustles. It’s important to establish non-negotiables when deciding whether to call it quits, she said.

When you feel overwhelmed, it can be difficult to gauge when to stop, Warwick said. She recommended imagining what a balanced life would look like, which could bring clarity. That means you need to define how much time can realistically be spent on different aspects of life: your main job, side hustle, self-care, and everyday life.

Side hustles naturally require more effort; it’s in the name. Warwick said the question is: How long can you keep that up? “Are they comfortable doing it for two months, six months or a year?” she said.

Dealing with the emotional side of leaving

It helps to be clear about what you’re trying to get out of it, Warwick said. Will it be a passion project for some extra money, or is your ultimate goal to make it your main job?

Usually, there are signs that it’s time to step away, says Christen James, a side hustle success coach. “There are some upfront costs, but at some point you have to recognize when it has become an expensive hobby,” she said.

James said if you find yourself putting a lot of money into the business but haven’t built any relationships or found any clients despite months of work, it’s probably a sign that it’s time to step away. Often that decision can take an emotional toll.

“There’s a grieving process that precedes it,” James said. But it’s important to give yourself permission to walk away and not beat yourself up about it. Framing it differently can help you cope with the process, like telling yourself it’s not a failure — and even if it didn’t work out, you can take some lessons from that experience to your next job, James said.

Celebrate the small victories, too, she said. “Celebrate that you did it, because many more people will never start.”

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