3 Reasons You Need a Side Hustle

how to be an entrepreneur without quitting your job, going broke, or losing your mind!

I’d like to debunk the greatest entrepreneurial myth of all time:

You don’t have to quit your job and go for broke to be an entrepreneur.

And, you don’t have to waste tons of time or money pursuing a business idea that might not work. Instead, you can launch a side hustle to test your idea and gauge your inclination for entrepreneurship without quitting your job, going broke, or losing your mind.

What’s a side hustle?

A side hustle is a part-time gig that generates income in addition to your full-time job. It can complement or contrast your responsibilities in the office. At the core, a side hustle is about taking what you already know with the resources you have to create a new source of income without quitting your day job. Freelance writing, selling your art on Etsy, and coaching clients are all forms of side hustles.

In fact, unlike starting a small business, the idea of a side hustle is NOT to risk it all. Don’t swing for the fences or go for broke! Instead, create low-risk trials to test your ideas and gather feedback before launching a full-scale endeavor.

Let’s say you’re a great baker. Your friends tell you all the time you should open a bakery because your treats are so tasty. Before you snatch money from your 401k and renovate a vacant space in that cute neighborhood everybody’s talking about, consider working part time at a bakery or selling your confectionery delights at a farmers market.

Either of these experiments provide proof of concept, yet neither requires a substantial time or monetary commitment from you. And that’s the genius behind a side hustle. It’s like internships for adults. Instead of getting coffee and making copies, you’re doing the job you’re curious about and determining if it’s a good fit while keeping your 9 to 5.

3 Reasons You Need a Side Hustle

Launching a side hustle is so rewarding. You’re the boss. You make all the decisions, choose who you want to work with, and fabricate products or services you care about. And if that’s not reason enough, here are three more solid reasons you need a side hustle.

Reason #1: Side Hustles are a Source of Additional Income

Reason #2: Creative Side Hustles Delight, Inspire, and Fulfill You

Reason #3: Side Hustles Sharpen Your Professional Superpowers

Reason #1: Side Hustles are a Source of Additional Income

In the aftermath of the Great Recession, employees world-wide are far more skeptical of the security their corporate jobs offer. Most know someone who lost a job, was reduced to part-time, or was unemployed for many months.

During the bounce-back, the gig-economy was born. Uber driving and dog sitting became sources of stable income for the under-employed. Many people duct-taped together small, part-time jobs to supplement their income. The need for multiple streams of income became the new normal and the number of side hustlers began booming.

Even if you feel secure at your company or truly love your job, there’s quite a bit of financial risk when relying on a single paycheck to cover your expenses. By creating another stream of income, you gain a bit more financial control and security.

Plus, it’s a great way to bulk up your savings account for a luxury vacation, big home improvement project, or squirreling away a down payment for a home or car.

Reason #2: Creative Side Hustles Delight, Inspire, and Fulfill You

I know tons of creatives who are cooking, painting, or crafting all the time. Passion projects make the world more beautiful, feed your soul, and connect you to your inner child. After all, I don’t remember any third graders at my school wanting to be corporate research analysts when they grew up. But such is life.

Your work brings smiles to faces and inspires joy. It fills the missing pieces to make you whole. And if you’re spending loads of time on it, odds are you’d like to monetize it. People are craving more authentic interactions with those they buy from. Here’s your chance to share a piece of your work with the world.

Creative side hustlers are generally a bit nervous at first about selling their art or being ‘good enough.’ Start by build a community and know that just like every piece you create, your skills are a work in progress.

You’re not going to replace 100% of your income right away, but over time, you’ll create a community of raving fans who love your art and want to pay you for it. What could be better?

Reason #3: Side Hustles Sharpen Your Professional Superpowers

Side hustles give you a chance to step outside the routine requirements of your job and develop a complimentary set of superpowers. Most of us use a very narrow set of skills in the office, doing the same types of projects over and over or cyclically. But your side hustle is much more ameba-like. It winds and turns, morphs and contorts every day.

Regardless of the nexus of your side hustle, you’re guaranteed to cultivate new skills. Building a community, marketing and selling, and mastering social media are not generally in the repertoire of the project manager. But side hustling gives you an opportunity to experience the thrill of learning something new every day.

You might also find your corporate superpowers are ripe for consulting. Offering similar products and services to clients like the ones you serve in your day job. Use your observations of what’s working and what’s not working with your firm’s services, then pivot and offer something better through your side hustle. And like the creatives, you’ll start one client at a time!

Or maybe you’re ready to share your expertise with the world as a coach or adviser. After decades of expert experience, you are perfectly suited to teach others how to do what you do – and that service can easily blossom into a profitable side hustle.

Side Hustles Require Bravery

Side hustles open doors and create options. There are tons of ways to put your passion project and superpowers to work in a side hustle. The only skill required to start a side hustle is bravery.

Be courageous. Invest in yourself.