There are so many people out there who either don’t understand the benefits of a side hustle or just feel it’s just not of interest for them at all. This is why I decided to write this blog. Before getting into it I want to make a couple points:
- These points are all based on my personal experience that I feel others could benefit from. This is not a science or something that is guaranteed to work for everyone.
- There are people out there who don’t even know what a side hustle is, so let me spell it out for you pretty easily. A side hustle is not a day job or even something guaranteed to get you paid all the time even though that’s the intent. It’s something you do because you’re either passionate about it or it’s something that benefits you either financially, intellectually, or psychologically.
Hope this clears some things up. Let me know what you think!
1. Gain Extra Cash or Extra Knowledge or Both
Who doesn’t need a little bit of extra cash? Whether it’s to spend on that new shiny thing, invest, or make sure your emergency fund is extra cushy the side hustle could benefit you.
If you are a millennial (like me) or younger, you’re not going to like this next comment since we need that immediate gratification: Your side hustle isn’t going to make you money right away (if ever). Just like any investment or business, it takes lots of time and/or money to see the kind of return you hope to see. Unless you’re playing the lottery, tell me about an investment that didn’t require either of these tools (I’ll wait).
If you take the longer term perspective (try to think of your future self) the investment will pay off whether it means you create a successful cash flowing business… or learn from failing at the attempt which will pay off in your next venture in life.
How do you create that successful cash flowing business, you ask? The list is truly endless, and what may be successful for some people may be a flop for others. Keep an eye out for my blogs to come and I’ll fill you in on what has worked for me.
2. Take a Break from Your Day-to-Day
“I LOVE doing the same boring thing everyday for the rest of my life” said noone ever. Sometimes you need something else to escape to that will keep things interesting when the other thing or things start to get dull. Your side hustle should be exactly that!
It should be that passion or aspiration that you can run away to that will keep your day-to-day from going dull.
3. Learn how to Run Your Own Business from Scratch
You say you want to run your own business some day but don’t have the experience, knowledge, or maybe even the motivation? Start with a side hustle!
With a side hustle, there is no expectations. You just get started and take it as fast, slow, or in any direction you see fit. Next thing you know, it starts to pull you in the direction or pace it wants. All of a sudden, this side hustle turns into an actual business where you are learning to manage the finances, strategy, operations, sales, support and all people involved.
Try it…you’ll see.
4. Spark Some Creativity that Could Benefit Your Day Job and Life
The thing about your day job is you’re probably working in some position where you are only touching that element of the business. For example, if you are in Sales you are not going to touch Finance. If you are in Support, you’re not going to be involved with product development much.
In a side hustle, you own it all! When this happens, you need to get creative with how you manage it all. Once that creativity starts to spark, you begin to realize that it can be used across so many roles and positions.
For example, even though Sales and Finance don’t really “talk”, there are some similarities in the skill sets. In Finance, you need to sell (with data) the direction that the business is headed or the risks that may surface. In Sales, you may talk to a customer about their top or bottom line and how the product you are selling may benefit them.
I am being very general, but I think you get the point. Still don’t? Let me know and I’ll add some more color to give you more perspectives.
5. Your Side Hustle Could be the Day Job You Always Wanted
Imagine that….the passion that is your side hustle all of a sudden becomes the thing you do as your day job?
Never discount that possibility. If you put in your time and effort it’s definitely possible. As I mentioned in my third point, it first becomes something with zero expectations. If you stick to it, the beast can grow organically into something that set’s those expectations for you (in a good way of course)