If you’ve recently considered a career change, a side hustle could be the bridge to get you there.
A side hustle or part-time job you do in your spare time can earn you some much-needed extra cash while adding purpose and meaning to your life.
A family embraces secondary hustle
I am surrounded by a family of entrepreneurs and side-hustlers. My daughter is a photographer, and my second son has already started three businesses, including his current videography job.
Our eldest son begins a scramble to edit and proofread PhD research papers. students. My dad opened his own barber shop over half a century ago – he still offers occasional cuts.
My brother has a successful car detailing business. And my sister is a teacher who wrote and co-wrote a number of books while working alongside her.
Over the years I’ve done voice overs for a little extra money. But I mostly played it safe, relying on the security of government communications jobs. My career choice allowed my wife to stay home to raise our three children.
However, in today’s economy, a single income family may seem even more out of reach.
With rising inflation and the chaos and uncertainty of ever-changing work patterns, more and more people are reinventing a better way to better control their work.
Why is this the perfect time to pursue a side hustle
Working at a company from a home office for the past two years has had its pros and cons. My coaching clients have told me it takes time to adjust, but many have chosen to continue working from home.
While working from home has reduced transportation expenses, inflation is eating away at the dollars we spend and try to save. With prices rising faster than the 1981 recession, people want the security that the extra money provides.
The extra time that many have due to working from home offers the opportunity to earn more money.
Recover lost time
Some of my clients, especially those in big cities like Los Angeles and New York, have regained up to three hours a day in commute time. A few would open their laptops just as their morning commute would normally begin, mindlessly wasting their time responding to emails that could easily have waited.
At the usual time of the evening trip, they were still there. When they realized they were essentially donating their commute time to the company, they wanted to reuse that time for themselves and their careers.
Imagine a better future
Many have used the net gain of time to envision a better future. Did their career offer passion and purpose beyond a paycheck? Or did they realize that more than a third of their waking hours were spent doing what the late author David Graeber considers bullshit work?
Graeber notes, “BS jobs are jobs that even the person doing the job can’t really justify to exist, but they have to pretend there’s a reason for them to exist.”
However, these kinds of jobs should not be confused with downright miserable work. There are meaningful careers that are useful and necessary. Some may consider them dangerous or unpleasant to do. Consider garbage collection. Think of Discovery Channel’s “Dirty Jobs”.
Meaningless work is dangerous in a different way. We stay busy enough not to think too much about our situation. The reality is that many of us get paid well to do something the world could do without. Yet most would like to have a meaningful job.
If you could do what you love, what would you do?
Who does side-hustle?
According to a June 2022 Zapier poll, men (44%) and women (37%) of all ages find purpose and extra cash flow through pursuing a side hustle. The survey indicates that 40% of Americans are already engaged in a secondary hustle, up from 34% in 2020. Of the 2,000 Americans who participated in the survey, nearly 700 were already engaged in a secondary hustle.
Young adults are most likely to have a side job, with Gen Z and Millennials leading the charge at around 60%. According to the survey, 36% of Gen Xers and 22% of Baby Boomers already have secondary agitation in 2022.
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How to find a side hustle that works for you
Before starting a new side hustle, it’s worth spending some time thinking about what would be different if you did.
Why a secondary scramble?
The most essential step is to ask yourself what motivates you to want a side hustle. Is it for financial reasons? More security? To do something more fulfilling than your full-time job?
Knowing the “why” will help you stay focused on pursuing your goal.
What are you good at?
Second, what are you doing well? It doesn’t have to be what you do in your full-time job. If what you do at work exhausts you, think of other skills you could practice for money. Make a list.
What do you like?
Doing what you love and doing what you’re good at don’t always overlap perfectly. If you’re passionate enough to do something, you’re more likely to start gaining experience and honing the skills you’ll need before you offer your service or product.
What do you have?
Finally, do you have the physical tools necessary for your planned stampede? A computer with internet access and some basic skills are often all you need to get started. If not for creating internet content, the web is your gateway to connections to things you might be doing in the real world. Consider Fiverr, Etsy, Upwork, Rover for dog walkers or rent a property on Vrbo.
What’s stopping you?
Common limiting beliefs that hold you back include lack of time, energy, and money.
A stampede takes too long
Despite what you might think, a side hustle only requires a little of your time. According to the Zapier survey, the average prostitute spends 13.4 hours per week on it, while 44% spend less than 10 hours per week on it. Imagine if, like some of my clients, you were able to recover three hours a day.
Spending that time on your side hustle four days a week would get you closer to the time spent by an average hustler.
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It takes too much energy
It can be a vicious circle. The work is exhausting, yet you work overtime without extra pay. Admittedly, it is exhausting. You have given others permission to push your boundaries and encroach on your time, energy, and space. Bad bosses, incompetent co-workers, long commutes, and inflexible work schedules are the most cited obstacles to good professional boundaries. Watch for signs of burnout – it happened to me.
No one will pay me
Americans who have a side hustle make an average of more than $12,000 a year from it, with nearly 40% reporting earning at least $5,000 a year. Would a time investment of 12 hours per week be worth a big extra per month for you?
It costs too much to start a secondary stampede
For starters, there’s no need to break the bank either. Look here for some great business ideas that require less than a $1,000 investment.
My transformational pursuit of a “side hustle”
As the sense of fulfillment waned in my communications career, I pondered the possibilities. “What could I do?” What would I like to do? This personal reflection led me to enroll in a coach training program.
Today, 200 clients and 1,000 hours later, coaching others to achieve their goals fuels my passion and provides me financially. This allowed me to take early retirement from my corporate work. And I haven’t regretted it for a second.
What do you think?
Whether it’s to improve your finances, for your personal growth, or to create a bridge to a career change, starting a side business can be inexpensive and take up little of your extra time. Like the barbers, car detailers, videographers, editors, storytellers, and photographers in my family, you could be among the 40% (and growing) of entrepreneurs and hustlers in business today. .
These are the people who take control of their time and create greater financial security by doing what they love. When will your turn be?
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Brent Roy, PCC, CMC, is a Certified Career and Personal Development Coach and Certified Mentor Coach. Brent can help boost your confidence to help you start your side business. For more ways he can help, contact Brent.