Side hustles emerge from likes, hobbies, interests and passions but are they worth it? Yes I get the ‘is it really worth it’ question all the time as I sell my products and run a social media platform. While the main purpose of starting to sell a product or service maybe to solve a problem, it usually is accompanied by an increase in income.
Here are some things to consider when starting a side hustle
Conflicts with current job
First for it to be considered a side hustle there has to be a main thing on the side. This means that you have a main job with an employer so it is important to make sure starting a thing on the side does not go against what ever contracts that have been signed in the main hustle. Once you have the idea, review the contract and make sure there is no conflict of interest. If there is one then it is not worth it or at least quit the contract prior to engaging. If there is no conflict then head on.
Stress and exhaustion
Be aware that a lot of time is required for the side hustle to run effectively and efficiently. This means that the usual old free times, lunch breaks, vacation days, weekends that were normally used to scroll on social media now has to be put into the side hustle. Performing duties on the main job and on the side hustle will stress and burn you out.
Shift in Life balance
The other aspect to consider is the effects on family, relationships and social gatherings. People really don’t care what you do with your free time. They just want you to show up and party or hang out. Trust me they don’t care about your hustle. Truth is the care about helping you spend some coins on fun. Do what is best to you at these times. You know best what is needed in your family and if it comes to it say NO to other things and invest the time in your hustle but make sure that your family especially is not strained. Prioritize needs and activities as needed to have a balance.
The Income and/or Loss in investment, time and effort
Not all side hustles are successful. Yours might be one of the 90% that fails but Starting is better than never knowing what might have happened. Also failing teaches us lessons to use to either make changes to the current hustle or switch into another and sometimes lessons learnt are applied life aspects other than business. While the money put into furniture, tools, designs, adverts may never be recovered it is also possible that this side hustle picks up and ends up at Shark Tank with products all over the most popular shops in the world. There is no guarantee you will make it but there is also the chance you may and therefore make yourself extra money for your expenses and savings, achieve financial freedom, save for your child’s future school fees, help someone else or just feel the joy of being paid for something you enjoy doing anyway. While running your side hustle, you will come across people from different backgrounds and create great relationships with. New skills will be learnt in the process and sometimes you may end up leaving the job you hate doing anyway and therefore be more happier only doing the work you love while working for yourself.