The Biggest Benefit Of Sidehustling - We Don’t See Anybody Talking About

The Biggest Benefit of Sidehustling – We Don’t See Anybody Talking About


side-hustle

Side Hustle satisfies the craving to earn out of an occupation that one loves to do. Internet and Technology have made it possible for people to explore opportunities beyond regular jobs. 

James has been working from home since the onset of the pandemic. The office he works for has offered both types of arrangements to employees – work from the office and work from home. While his colleagues have rejoined the office, he still prefers to work from home. As he works from home, he gets time to invest in his passion, which is baking. Yes, he’s a home chef too. He has been taking orders for cakes, cookies and croissants from his neighbours, friends and family. If he rejoins the office, he will not get time for baking. Most of his time will be wasted travelling to work. 

For James, baking is a side hustle. Side Hustle is one of the most trending words in business circles in the year 2022. This phenomenon is a byproduct of the encompassing internet age. Pandemic has opened the floodgates of flexible working. With easy access to communication and engagement, people are enjoying the freedom of flexibility and convenience. Post the Pandemic, people have been tapping opportunities across seven seas as it is possible to work from any place in the world. 

Side Hustle refers to the occupation that helps people earn extra money beyond their regular income. With work from home becoming a possibility, people are exploring occupations that help them pursue their passion and earn something out of it. Many people, both men and women, have to build a side business plan that they pursue along with their regular jobs. The income earned from the side hustle takes care of extra expenses. Some people even quit their main job when the side hustle starts growing. However, some experts are of the opinion that side hustle is not worth the emotional energy, time, and efforts that go into it. 

Side Hustle is not just about earning an additional income. It is not the need for money that drives people to engage in a side hustle. On the contrary, it is emotionally satisfying to earn appreciation for something that one loves to do. Money, then, becomes a supplement. A regular 9 to 5 job does not unravel the creativity and talent of a person. Some people accept a job that is very different from their likes. The job needs to be accepted for a good pay package, societal pressure or for other similar reasons. However, a side hustle taps into the hidden potential of a person and helps enrich the capabilities. Let’s explore some of the many reasons side hustle is important in this age and time. 

  1. Financial Independence and Income Diversification

It is not always the case that people are able to earn a huge amount of income through Side Hustle in the initial phase. A side hustle takes time to grow and expand. Sometimes, a side occupation is more creatively satisfying and does not much focus on the money part. However, one can turn the side hustle into an occupation that results in good money. This offers financial independence to a person. Further, the dependency on the regular job for increments and promotions decreases to an extent. 

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Take the example of Daymond John who founded FUBU. His main occupation was waiting tables at a restaurant. However, his side hustle involved making hats with help from his mother. When his side hustle started giving him more money, he quit his regular job. At present, he is an entrepreneur, a motivational speaker and an author. 

An additional source of income helps people become more confident in their endeavours. They even take risks in their regular job as they have a backup. Basically, a person becomes fearless and does not see any harm in experimenting. When the side hustle is reliable, people find themselves in an advantageous position. They become aggressive in pursuing their passion.

  1. Personal Fulfillment and Creative Liberation 

Present age schedules are so busy that people do not have time to pursue their hobbies. A side hustle gives people the opportunity to engage in occupations that result in happiness. An IT professional might design shoes on weekends or a graphic designer might teach orphan children in the evening. People need to let their creativity out to get a sense of satisfaction. 

A side hustle need not be regular work. It might be something that people pursue on weekends or in a specific season or occasionally during festivals. But it needs to be something that is done at regular intervals. People can dabble in stock markets or become financial advisors or pen a book or just help farmers pick mangoes from the orchard during summers. Some people complain that they do not have enough time for a side hustle. However, time needs to be spared to pursue hobbies. 

Take, for instance, Andy Dunn who founded Bonoboz. He used to be a CEO. However, he began selling chinos out of his car while pursuing Masters in Business Administration from Standard Graduate School of Business. While Bonoboz was his side hustle at that time, it is an upscale subsidiary brand of the giant Walmart at present. 

  1. Stress Buster and Time Management

Due to the internet, work has moved outside the office and even beyond office hours. It has become easier to check emails after returning from work. And such emails lead people to think about work, in spite of there being no requirement for the same. There are no boundaries between work and personal lives. However, pursuing a side hustle makes people forget about work and invest their energy into creative pursuits. 

Side hustles often become stress busters if pursued in the right manner. Without a side hustle, people find running after hobbies a distraction, or just tiresome. When hobbies become occupations, pursuing them becomes a necessity rather than an option. Side Hustle often makes people more energetic and helps them perform better in their everyday lives.   

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For example, Jessica Alba, the famous Hollywood Actress. When she became a mother, she started searching for safe products for her children. When she did not find any trustworthy brands, she founded The Honest Company. It is a brand recognized for all-natural baby products. 

  1. Skill Development and Leadership Experience

Side Hustle requires investing adequate time and extra effort. The more time people dedicate to the projects that they are passionate about, the better they get at them. Side hustle helps people refine their creative abilities and even get paid for the same. After teaching orphan children in the neighbourhood for 2-3 years, a person might leave the IT job and become a full-time teacher. Giving piano lessons on weekends might inspire a person to leave a full-time banking job and become a piano teacher instead. 

A side hustle might be chosen on the basis of pursuing it as a full-fledged occupation in the coming years. If it goes well, a side hustle gives the person an opportunity to become a leader and run a company. There’s a lot to learn from side occupations. The first thing that one learns is to juggle a regular job with a side project. It involves time management. When one runs a business, however small it is, one learns how to deal with clients directly. It even makes a person manage investments, settle online invoices, and do such things. 

Side Hustle teaches people organizational skills, communication skills, and leadership skills among others. In a side business, a person needs to play multiple roles, that of a manufacturer, a marketer, a customer service executive and even the delivery person. A side hustle gives people immense experience in running their own businesses single-handedly. This gives a person renewed sense of freedom in the regular job as well. 

  1. Streamlined Revenue Source

Side Hustles help create a continuous flow of income. It creates a revenue stream that helps people to pay their debts faster. The income earned can be used to settle credit card bills, education loans, sudden expenditures, insurance and other similar expenses. When there is a side income, the regular income does not have to bear the burden of extra expenses. 

According to wikipedia.org, side jobs gained popularity in the United States due to wage stagnation and low wage growth. There is always a balance between different kinds of expenses. And there is no guilt in indulging in experiences. Income saved from a side hustle is often spent by people on luxury items. There are some things that could not be afforded from a regular income. For such things, side hustle income comes in handy. There has been a growing trend wherein people do a side hustle to go on a foreign vacation, invest in gold jewelry, or buy things that they know could not be bought with regular income. Side Hustle income is even utilized for buying stocks and mutual funds. 

People are hunting for lucrative side hustles to secure their retirement. It is easy to earn a steady income through side ventures while pursuing interests that keep people engaged during the late years of life after retirement. People even find it easier to make friends and expand their circle through a side hustle. 

Successful Side-Hustle Occupations

While there are many side-hustle business ideas, there are some that are more popular owing to the simplicity of jobs. According to forbes.com, there are countless side hustles that people can take advantage of.  

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Data Analysis

One of the most lucrative opportunities in the industry at present is that of a data analyst. While many companies require the services of data analysts, not all of them are able to hire full-time data analysts. In such situations, they hire data analysts on a contract basis. People good with numbers and required qualifications can take up the role of data analysts as a side hustle. 

Mobile Application Testing

An increasing number of start-ups have come into the business of mobile applications. While there are tons of mobile applications, there is a serious dearth of professionals who can test mobile applications. While this can be a full-time profession, it can also be pursued as a freelancer or as a side-hustle. Mobile app testers test the website or mobile application for their viability and are paid on a project basis. 

Content Writer

There is a high demand in the industry for good content writers. They are required to develop content for websites, mobile applications, blogs, brochures, social media, and other similar mediums. Content writing can be pursued as a side hustle to generate extra income. Content writers are paid per project, per word or even on an hourly basis. It does not require much skill or equipment to become a content writer. People with excellent skills and experience are paid a hefty amount for content writing services. 

Virtual Assistant Services

As industries are moving online owing to the presence of the target market, there is a need for online assistants of different kinds. People who work from home require assistants who can help them with organisational or administrative tasks. There are a number of courses available to acquire training to become virtual assistants. Companies in healthcare, digital marketing and education require the services of virtual assistants. 

Conclusion

Earlier, people used to take up double shifts to make ends meet. However, double shifts are a thing of the past with the trend of side hustle. With the advent of the internet, people can now work for companies across the globe without slogging hard. There are a lot of opportunities for side hustling in entrepreneurial ventures. While earlier, companies did not see side hustle in a good light, things have changed for the better. In order to reduce the stress and anxiety that come with regular jobs, organizations these days promote side hustles. People can now pursue their hobbies and find creative liberation and financial independence.


Hamza Ehs