As a career coach, I’m often asked by clients how they can improve their businesses, get more work, or follow their passions. They’re all questions that don’t have easy answers — Everyone’s different, and your path to success may not be the same as someone else’s.
However, I’ve noticed a trend lately of people engaging in a business practice that has helped them achieve, or at least take the steps toward achieving, all three of these goals: Side hustles.
You’ve probably heard of a side hustle before. It doesn’t necessarily have to be a complete side-business, or even make that much money. A side hustle is all about your personal growth, development, and entrepreneurial creativity. Think about what you would supplement your current work with if you had the chance. Maybe you want to start a podcast related to your business, write a personal blog, or sell crafts on Etsy. Whatever your side hustle may be, it’s all about finding your passion and following it through — Without the major commitment of leaving your current work or investing all of your time into something you’re not certain of.
According to a Bankrate study, about 37% of adults in the U.S. have a side hustle. And they can pay pretty well, at an average of nearly $700 a month! No wonder another study shows two-thirds of Americans would consider diving into the side hustle business in addition to their current jobs.
But why are side hustles so alluring, and how can they help you reach success? Here are three ways a side hustle can be a really great idea!
- You can add to your savings.
Of course, one of the most alluring aspects of a side hustle is making money in addition to your current salary (or, if you don’t currently have a job, making money off something you’re passionate about). Depending on what your side hustle is, there’s potential for earnings, and that extra money is a great way to start shoring up your savings, or pay off your student loans. Or, you can invest the money into your current business!
Making a little extra cash on the side can also help alleviate some financial stress, making your day-to-day happier, rather than filled with worry about making ends meet. And hey, if you want to use that money to treat yourself, go for it! Your side hustle is all about you doing you.
- It will develop your skills and experience.
Let’s say you decide to start selling your craft projects online. It’s a great way to engage your creativity and make a little extra money — But you’ll also probably develop new skills along the way without even realizing it. You’d learn how to communicate with customers, market your brand, determine your pricing, and much more. These are incredibly useful skills for the business world, skills that are transferable to other jobs besides your side hustle. And who knows?
The more experience you gain with these skills, or whatever skills you develop from your personal side hustle, the more clarity you could gain on whether or not your current career is truly what you want to do.
- It’s a great way to test the waters.
As mentioned earlier, a side hustle is a fantastic way to dip your feet in the waters of other ventures without a full commitment. If you’re not ready to leave the security of a full-time job, or you’re just not sure what you really want to do, side hustles can help you get there. Maybe you’re considering a career in professional writing — Create a blog, and see how it makes you feel! Or you can volunteer, tutor, teach online courses, walk dogs… Your options are endless!
Whatever you decide to do with your side hustle, remember that the point is your satisfaction. If you find you’re not enjoying your side hustle, you can start a new one! Or decide that side hustles just aren’t for you.
That’s what’s so great about them — They’re flexible ways for you to gain experience, learn what you love, and test out what you’re interested in, without committing all your time, energy, and finances to them. So, what are you waiting for?
