Why are so many people now looking at Side Hustles? All of social media and the internet is ablaze with articles about Side Hustles and how some people have replaced their job with a Side Hustle that is successful.
Before looking at the reasons why you may do a Side Hustle, there is a question that you need to ask yourself. Realistically do I have the time and desire to set up a Side Hustle? Look at your job, life responsibilities and time that you need to travel and do the basics. If you can squeeze out 5+ hours in a week then chances are that you have time for a Side Hustle.
Here are some of the reasons why people are doing Side Hustles:
1. Extra Income - depending on the idea and how well you execute on this it may be that you are able to earn additional income outside of your job which you can save for a rainy day.
2. Keep unused skills up to date - whether it is guitar teaching, writing, SEO or coding a Side Hustle may be the perfect way to keep skills that you have learned but don't use in a work context and keep these up to date.
3. Test a new business idea - so rather than going headlong into a new business and taking risks; a Side Hustle may be a way of quickly assessing the feasibility of business idea. For example if you are wanting to set up a Dog walking business, you could first try this on the weekend, grow regular clients and then at some point the income and clients prove that there is a business.
4. Meet new people - doing a Side Hustle may be a great way of meeting new people; this is perfect where people are working in a job that isn't social. Side Hustles where that are social allow people to expand their network of business people and friends. For example if you are a Coder during the week it may be that you have a stall selling goods at market on the weekend or a tour guide.
5. Protect your career and future - what happens if you lose your job? It may be that a Side Hustle is the insurance you need in the case where you may not be able to find a job for a while. There is a level of income that you will have and the Side Hustle may grow into another business which replaces your job.
There are many more reasons why having a Side Hustle may be of benefit to you but the two most important factors in looking at this are the time that it takes and having a strong reason why you are doing this. Every Side Hustle is like a seed that grows; time and attention is required to grow a beautiful plant.
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