You may have heard the term ‘side hustle’ being used by the younger generation (millennials in particular). Currently 1 in 4 employees run their own business outside of their regular job according to The Henley Business School. Through our internet and social media use side hustles are becoming popular. It’s impacting how, when and where we work. It provides individuals with easier accessibility to starting their own business.
What is a side hustle?
A side hustle is defined as a secondary way “to make extra cash that allows you flexibility to pursue what you’re most interested in.” With the changing workforce new job opportunities are popping up all the time. The gig economy is booming! It’s a new way of working that suits the latest generations working expectations.
It’s something you can do alongside your regular job. If it isn’t fulfilling your hobbies and interests then you can take matters into your own hands without having to quit your current job. It can be a way of receiving extra income, whether that’s to make ends meet or to invest more into your business.
At the beginning of your side hustling journey you might not make a significant income, but sometimes it’s just about the passion that drives you. And if you consistently work at it you’ll make progress. Remember you have to start somewhere! If your end goal is to be able to pursue your interests full-time, then it’s going to take hard work, grit and persistence.
What’s your passion?
What are your interests? What are you most passionate about? Can you turn your passion into something profitable?
Many individuals are starting their own businesses from the comfort of their home – selling products or providing a service. For art and craft adventures Etsy is a fantastic website to begin making sales. With a click of a button you can have a business up and running, and further down the line you may branch out to create your own unique website.
Some other examples of projects include creating a podcast, tutoring others or starting a blog.
Why have a side hustle?
- Create a portfolio of work showcasing your talents.
- A source of meaningful work.
- Develop your skills and experiences. Starting a business no matter how small is no easy feat. You’ll begin to understand the mechanics of a business – being responsible for everything and how it works.
- No full commitment. Having a side hustle doesn’t mean you have to quit your job. Side hustling is a way of exploring other avenues of work and try out possible career options. The best part is, if it isn’t for you it’s easy to start again. You always have your regular job to fall back on if things don’t go exactly to plan.
- A great source of additional income.