The employment landscape is evolving day and night and this has increased the risk of job insecurity. But a well-chosen side hustle could be your backup plan. And we hope this article could reshape your thoughts in making an informed choice before starting a side hustle as we answer the “Why” and “Why Not” questions.
By Derick Mwanguhya
Published: November 22, 2023
Are you thinking of getting started on side hustle jobs, or just want to quit your current job? This article is for you.
A side hustle job is a separate job you can do besides your current or primary job.
Think of a college tutor offering freelance writing services to brands, in this way, the freelancing job is a side hustle because it is outside of their main job.
As the cost of living continues to rise, many people are turning to side hustles to supplement their income. Although the average side hustle yields less than $500 a month, there is always the possibility of earning more with your side hustle if you do it right.
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Why you should take up a side hustle gig?
Extra money
Perhaps Extra money is what moves many to jump on side hustle jobs.
Side hustle gigs can greatly bring in an extra stream of money if you treat your gig with seriousness.
For example, if you choose to choose to take up a side hustle in writing or graphic designing you can be assured that you will earn from it while earning from your primary job as well.
Did you know that you can even earn a six-figure from your side hustle? It is possible because even the Apple Inc. you are seeing right now started as a side hustle task for Steve Jobs.
Hint: Instagram is the most popular social media platform to promote side hustles. So, it is time for you to leverage social media.
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Creativity and new skills
There is a lot you can learn from a side hustle job.
Of course, you can start with limited skills in accomplishing the tasks but as you continue to do the same, you’ll eventually develop your skills.
And you’ll be more productive and creative in completing tasks because you have to impress your clients.
According to ZacJohn, 55% of people want to turn their hobby into a business. And it is easy to start with your hobbies to help you succeed in your side hustle.
You might not be the best in graphic designing but after spending time working on gigs from the designing industry, you’ll realize an improvement in your work.
If that’s your wish — to develop a new or improve an existing skill, then a side hustle is right for you.
Expanding your network.
Do I need to explain this? Maybe yes or no. But as you take up different side hustle gigs, you are open to making new connections which may not be the case when you are an employee.
When you start a side hustle, you can have an opportunity to meet new people and build relationships with people who can help you achieve your goals. From entrepreneurs to industry experts, or potential customers.
And this network can even help you land your dream time job or even full-time employment.
That’s why quality work and honesty are key to your success in your side hustle. Because if you deliver below stand work, you are limiting your rating and hence limiting your network trust.
If you are used to online hiring platforms like Fiverr or Upwork you will agree with me that your score in delivering client’s work influences your discoverability.
A backup income.
The employment sector is so dynamic. What used to work is not working today.
Probably, you have heard that AI is doing most of the work that might human labour.
Perhaps, your employer also thinks the same and my God forbid, you don’t have your job tomorrow, but if you had a side hustle, it can act as a backup, in case things go wrong.
That’s why leveraging the power of a side hustle is vital. If you have one, you might be shaken by the changing employment landscape.
Meanwhile, you can even turn your side hustle into a full-time job.
You have it! The Benefits can go on and on but these stand out
Why a side hustle is not right for you?
Divided attention and focus
Remember it’s a “side hustle” which means that there should be something primary. If you are a student for instance, attending your college classes is the main thing, but if you have a side hustle job, this could take up some of your time to focus on your studies.
When you have divided attention between your primary job and a side hustle it can result in less productivity for both of them.
Therefore, think wisely before continuing with a side hustle because you can even risk losing your existing job because you pay more attention to a side hustle than your job.
Low ROI
If you’re not from the business world, ROI stands for Return on Investment.
You can indeed start on a side hustle without investing anything, but you will agree with me that time is the one resource you can invest in something. So, by working on a side hustle you’re investing your own time even if you didn’t invest in any penny to start.
Additionally, some side hustles will require you to put in some investment for example if you are going for graphic designing, you’ll probably need a computer, purchase licenses for required software, and maybe promote yourself to get clients.
But as you start you get few to no clients because firstly, you’re not known in the industry and secondly, no one trusts what you’re doing.
So, cultivating that trust and authority will take a long, hence you’ll realize a low return on investment as you get started. And if you’re someone not used to this, you can just drop off the job and jump to the next which will be like the former.
Thinking about your investment in the side hustle you’re choosing is important as it will guide you in your progress to success.
Adding More Stress
Your primary job itself can be stressful, think of the times you’re required to report to work during holidays, attend afternoon meetings, reply to thousands of emails, explain why you didn’t show up for work the previous day and much more.
Meanwhile, 77% of full-time workers are already feeling burnout at work according to a survey by Deloitte, adding a side hustle on top of that could be a stressful
Because just like your current job, you have clients to attend to when working on your side hustle. It can even be more stressful because your side hustle may be time-sensitive compared to your primary job.
Time demand
We hinted at this before, Time is the biggest investment you can put in something. And by having a side hustle alongside your primary job, you can have little time for your personal life.
This is because both the job and a side hustle demand for time.
You’ll find yourself with little to no time with family, and friends, and for your leisure.
Of course, dedicating more than 10 hours to your side hustle per week can result in an average of $1,122 per month but this is a lot of time for starters because as you start you may not hit this figure instantly.
Meanwhile, this can greatly affect your productivity at work and affect your social life.
We believe we have given you a clear glimpse of what a side hustle can look like, you can now weigh the pros and cons and find out what’s working for you — a side hustle, being employed, or both.
Final thoughts
Thanks for reading. As you weigh the pros and cons we’ve offered you, remember that a successful side hustle requires dedication, time management, and a realistic assessment of your capabilities. Make sure it aligns with your values and capabilities as this will keep you motivated to do more.
Do you think a side hustle is right for you or it’s time consuming? Let us know in the Comment section.
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This has been greatly helpful, insightful. Saved it for future use. Thanks for having concern and spreading knowledge freely.
Thanks for taking your time to read this Conslanta.
I really appreciate.
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