Side hustle. Side Jobs. Side Gigs.
Those words are all the discussion rage right now in the world of work. Clearly, the implicit meaning is that not only do you have your main job, but you are also working something else (or two) in addition. This could mean anything from freelance writing to graphic designing to teaching classes online.
There are lots of reasons of great reasons to develop for side work. You may need increased income to supplement whatever you’re getting from your main job. You might be bored with your daily routine and searching for an exciting project to work on. You may be looking to exercise certain skills you don’t use at work every day. If you’re thinking about developing a side hustle with the hopes of making a future full time business, here are some questions you might want to ask yourself.
Is my idea viable? Yeah, you may have an idea that’s great — to you. But will other people agree not only verbally but with their wallets? Side gigs are a solid way to test out a concept before you leave your main job. You can find out if people will pay for what you are offering. And if they are, you can learn what price point makes a profit
Do I have the appetite for business? A whole lot of people want to be bosses until they have to be bosses. There’s way more to being the leader than the title. A side hustle can give you the experience of determining on putting your leadership and management skills into action. At least in the beginning, you’ll be wearing a bunch of different hats and you’ll know if you’ve the ability to run your own operation. You’ll find out really quickly if you have the stamina to put out the many fires and problem solve through issues when you’re the one in charge.
How committed am I to this work? It’s a side hustle, which means, you’ll be doing this along side working at least one other job or main responsibility. This will take a significant amount of time and effort on your part. You will need to get pretty organized and realign your daily and weekly schedule to accommodate the additional work. Recognize that means you might in some cases be pushing 13-14 hour days instead of 8 or 9 with just your job.
What are my financial goals? No one generally starts that side hustle for free. You should have some monetary goals you want to hit. You definitely need to know what you’re trying to make in order to get there. In other words, you’ll need a solid budget to keep you determine how to start your hustle. More importantly, you will need to know how much it will take to make sure it stays afloat.