Launching a side hustle is a great way to follow your passion while earning extra money. But whether you want to get an extra gig or work from home on the side, you will need to make a few sacrifices in order to succeed.

Although side hustling requires tons of work upfront in order to see long-term results, the takeaways are endless. Are you ready to get serious about your side gig? Then be prepared to make these four sacrifices to succeed.

1. Time

Time is naturally the first expense that comes to mind when you start side hustling. This is especially true if you already have a full-time job. Time is extremely valuable because, unlike money, you can't just work harder to obtain more of it. When you establish a side hustle, you'll have to carve out time outside of your main gig and other responsibilities to get your work done to grow your earnings.

Try formulating a rough schedule and sticking to it consistently. If you work better in the mornings, rise and shine about an hour earlier to squeeze in some work before you leave for your 9-to-5. If evenings are your cup of tea, work about an hour or two as soon as you get home or after dinner. Utilize your weekends as well, if your schedule permits.

In order to do this, you may have to give up some guilty pleasures, such as watching your favorite TV drama or surfing social media.

2. Money

The old adage still rings true: In order to make money, you'll have to spend some. Getting your business up and running will more than likely require some financial sacrifices.

Items like professional training to build your skills and website hosting and design are necessary. But you can probably skip the expenses of business cards and costly logo designs until your side hustle is bringing in some dough.

These investments will require you to cut a few items from your budget. While that morning cup of joe from Starbucks is delicious and helps get you up, it's not necessary.

3. Fear

Fear of failure keeps countless would-be entrepreneurs from going after their dreams. It's easy to run away from your side hustle if you're scared of rejection, disappointment, or of your business failing.

But you shouldn't let your doubts or perceived inadequacies keep you from pursuing your dream. Taking the first step to launch a side business can be scary, but if you push against your fears and get started, you'll have a chance to actualize your dream, which is worth almost any sacrifice.

4. Work-Life Balance

Leisure? What's leisure?

When you're working both a full-time job and a side gig, you're likely going to miss out on some fun events. Even if you give yourself a time limit for your side hustle so you don't burn yourself out, your work-life balance is going to appear to be mostly work until you get your side gig up and running.

Luckily, this is typically temporary. Once you get into the groove of things, you'll maintain a nice work-life balance again.

While anybody can start a side hustle, folks who make these sacrifices will see a steady stream of income and success.