The COVID pandemic has taught us a lot about the world and the employers we work for. No matter which side of the vaccine debate you sit on, no matter what your health, both physical and mental, was before, one thing we can all agree on is there is no going back to normal.
I will never forget when the first round of lockdowns hit where I live and people were not allowed to go to work, let alone go to the grocery store or even go to school. Unfortunately, those of us living paycheck to paycheck were in for a wild ride.
It took just one week of lockdowns before we started hearing landlords say they were losing so much money because tenants could not make rent. One week for businesses to say they were going to go bankrupt because they had no customers coming through. One week for the entire financial system as we know it to be pushed to its limits and nearly collapse. Just. One. Week.
And do you remember how hard things were for you? Do you remember who was looking out for you? Who was there to help you when you needed it desperately?
While this was going on and I, like many of you as well, was struggling to get by. I couldn’t help but think, “Man, this could happen to me tomorrow very easily and what do I have to fall back on?”
And that is when the lightbulb finally went off. I realized that I can really only look out for myself and depend on myself when things really fell apart.
With the devastation that the pandemic has left a lot of us in, the growth of the “Side Hustle” has never been needed now more than ever. I believe many of us started to realize this, especially seeing how companies were using the pandemic as an excuse to lay off employees, downsize, or even just shut down. It wasn’t fair but this was the reality for many of us.
With so much uncertainty, many of us started looking for alternative ways to make some additional income. Whether it was to help pay off some debts, or to put some extra money away in savings, society seemed to have woken up to this reality.
Approximately 35% of Canadians reported having a “Side Hustle”, with the majority of them doing so to earn extra income, according to a Bank of Montreal survey. In the US it’s an even higher number. According to a 2022 survey by Bankrate, about 45% of American adults reported having a side job or “Side Hustle”.
And with the rising cost of living, who can blame them? In recent years, the term “Side Hustle” has become increasingly popular, especially among millennials and Gen Z. Now with the rise of the “gig” economy, which is where you sell your skills on sites like Fiverr, Upwork, SproutGigs and so on, the “Side Hustle” has become so common that there are even some employers encouraging their employees to have a “Side Hustle”. But this will be a discussion for a later time.
What is a “Side Hustle”?
To be honest with you all, the term “Side Hustle” is just the term that the cool kids use these days to say they make money in different ways other than a regular day job. The easiest way to explain what a “Side Hustle” is to people would be to tell them it is just another job that you are doing to earn some extra cash on top of the money you make from your full-time 9 to 5 job. This extra job is done outside of your 9 to 5 hours, thus the name “Side Hustle”.
Many people have varying levels of success with a “Side Hustle”. Also it is important to note that success means different things to different people. A “Side Hustle” is a part-time job or project that someone takes on outside of their full-time employment to earn extra money, pursue a passion, or gain new skills.
Gaining new skills is an important characteristic of a “Side Hustle”. These are skills that will not only help you grow as an employee, but also help you grow as an individual and as an entrepreneur. To me, the skills I picked up through my personal “Side Hustle” are more valuable than the extra money I was making. I know, it sounds cliche and I can hear many of you calling me on my bullshi*t, but it is the truth. It is my truth.
The reason why I say this is because starting a “Side Hustle” allowed me to become a business owner which I never thought possible before. It has helped me build relationships with complete strangers and made me comfortable with coming out of my comfort zone. There is more to life than just money, and starting a “Side Hustle” definitely taught me that.
The Benefits of Having a “Side Hustle”
So, why is having a “Side Hustle” a good idea? There are several reasons why having a “Side Hustle” can be beneficial:
- Supplement Your Income
I mean this one is pretty obvious isn’t it? With the rising cost of living and a recession looming, having an additional source of income can help you pay off debt, save for a big purchase, or even help you achieve financial freedom. The extra income from a “Side Hustle” can help you reach your financial goals faster than relying solely on your full-time job.
- Lets You Pursue Your Passions
Many people have hobbies or interests that they are passionate about but may not be able to turn into a full-time career. A “Side Hustle” can give you the opportunity to pursue your passions and return some of that joy that you have been missing in your life. By doing something you love, you can find more fulfillment and satisfaction in your life.
- Develop New Skills
Starting a “Side Hustle” can help you develop new skills that can be valuable in your full-time job or future career. For example, if you start a freelance writing “Side Hustle”, you can improve your writing skills and learn how to pitch to clients. You can also gain experience in different industries and learn how to market your new found skills and knowledge.
- Create a Safety Net
In today’s uncertain job market, having a “Side Hustle” can provide a safety net in case you lose your full-time job. By having a secondary source of income, you can minimize the stress being laid off or facing unexpected expenses. A “Side Hustle” can also provide you with more stability and security in your financial situation, and who doesn’t need that right now.
- Boost Your Confidence
Starting a “Side Hustle” can be an extremely rewarding experience. By setting goals and achieving them, you can boost your confidence and self esteem and feel a sense of accomplishment. This will translate into other areas of your life. And when you present confidence, good things happen.
Starting a “Side Hustle”
If you’re looking to make some extra money and have some free time on your hands, starting a “Side Hustle” can be a great option.
A “Side Hustle” does not necessarily have to become your main source of income immediately. It can be something that you enjoy doing, it can be something that is a form of therapy for yourself, it can be anything from selling goods or services online to starting your own blog, podcast, or YouTube channel. The possibilities are endless, but there are a few key things you should consider before starting your “Side Hustle”.
One of the first “Side Hustle” I tried was with a website called Neobux. It is a Paid to Click website that paid you to watch ads. Although it did take a long time to start to see money coming in with Neobux, it was something that got me started in the “Side Hustle” world. I then went on to starting up my own engineering consulting firm, and also this very blog site that you are reading.
The point I am trying to make is a “Side Hustle” can literally be anything you want it to be. You can start baking on the side, you can tutor people, you can design logos for people, I even have helped someone start a “Side Hustle” where they basically do their 9 to 5 job, but on the side as well, earning them almost twice as much money as just working his 9 to 5 job as an Human Resources manager.
Like I said, the possibilities are endless and trying to start a “Side Hustle” can be quite overwhelming, but I have come up with a list of things that will help you get started.
- Identify your skills and interests
Before you can start a successful “Side Hustle”, you need to figure out what you’re good at and what you enjoy doing. Take some time to think about your skills and passions, or a particular talent or hobby that could be turned into a business. You could be great at something like photography, cooking, or graphic design. Whatever your skills are, try to find a way to turn them into a profitable venture. And don’t say that you have no skills either. You do. We all do. You do not have to be the best at something in order to do something. But starting with something that you are familiar with helps to ease your way into the “Side Hustle” world. Think of it as testing the waters.
- Develop a “Side Hustle” plan
A “Side Hustle” plan is essential for any “Side Hustle”. It doesn’t have to be complicated to begin with. In fact I advise you to keep it as simple as possible when starting out so you do not become overwhelmed and give up easily. Your plan should outline your goals and strategies to achieve the goals.
Your plan should include your budget, but most importantly it should have hard deadlines you set for yourself. By this I mean set goals such as by this date I will have a website up and running. By this date I will have 3 clients signed up for my services. It’s important to set realistic goals and timelines for your “Side Hustle”. This will help you stay on track and measure your success, which will translate into more motivation to keep you going with your “Side Hustle”.
- Manage your time effectively
One of the biggest challenges of running a “Side Hustle” is managing your time effectively. Remember, you will have to balance your full-time job with your “Side Hustle”. This may mean working early in the morning or working late at night. I used to use my lunch breaks at work even to work on some blog posts or work on my website. Not everyone will have that ability, I understand, but the point is you have to use your time to its full potential.
With that being said, it is important to set boundaries too. You don’t want to do too much and burn yourself out. That is one of the reasons you are trying to make a “Side Hustle” for yourself in the first place, to get away from that grind. Burnout is a real risk when you’re juggling multiple responsibilities, so make sure to take breaks and prioritize your health.
One thing I would like to really point out here with you is this. Do not strive for perfection right off the bat. Don’t spend all your time and effort in coming up with a name for your “Side Hustle”. Don’t try to make a website look perfect to your eyes. Don’t give yourself all these expectations at first. You will find that you will be wasting a lot of time on these things and will end up failing to hit any of the goals you set for yourself. Pace yourself, take time off when you need to, and understand what is important and what is not.
- Build your online presence
In today’s world, social media has turned marketing upside down. We now live in a digital age so having an online presence is crucial for any “Side Hustle”. You should really consider building a website, but to give yourself the best chances of growing your “Side Hustle” you should also create social media profiles. This will help you reach a wider audience to promote your products or services.
Marketing is essential for any “Side Hustle”. You’ll need to find ways to promote your business and reach your intended target market. This should include social media advertising, email marketing, and word of mouth. It’s important to be creative and find unique ways to market your business. Copying what has already been done will work, but only for so long. Be creative here and develop new ways to market yourself and your product. Combine ways that you see that you like. Remember this is your “Side Hustle”, so you have the say in what you do.
I was never a person that had any social media accounts. No Facebook, no Instagram, no Snapchat, Twitter, nothing at all. I still don’t for myself personally. However, I will acknowledge the fact that social media is a powerful tool that if you use it correctly can bring in an unimaginable amount of money to your “Side Hustle”.
Building your online presence is probably the one thing that you will be spending most of your time doing in the beginning of your “Side Hustle”. Once you get this set up, it just gets easier and easier from there. Like I mentioned before, you have to be willing to put in some work in the beginning and you will definitely be enjoying the rewards later. Effort and consistency is key.
Where to find “Side Hustles” To Start
Well for starters, you can check out https://theuniversityofsidehustles.com/. There you will find a number of ideas for everyday people like you to start a “Side Hustle”. There are plenty of reviews and tips, as well as many articles providing some industry insights to help you along and get started.
Secondly, Google. Simple.
Another great place to find ideas for “Side Hustle” is YouTube. There are countless videos that can inspire you to creating a profitable “Side Hustle”. Just be warned, you can end up spending hours watching videos that are nothing but clickbait. My advice is to seek out videos with a good ratio of views to likes. This is really the only way I can weed out the scams. ( I do plan on putting together a list of channels that I watch regularly for ideas and help. Stay tuned for that.)
How Much Can You Expect to Make From A “Side Hustle”
This is one of those questions that is impossible to give answer. The amount of money that can be made is entirely up to you. You are the one who sets your limits. You decide how many hours you want to spend on it, you decide how much effort you want to put into it, and you decide how much, if any at all, money you want to put into it. You also set whether this will be something you do temporarily, or will be done to eventually take the place of your 9 to 5 job.
What I can tell you though is the sky is the limit. I know of people who are pulling in an extra $300 USD a month with one “Side Hustle”, and I also know an individual making over $200k USD a month with several “Side Hustle”. These are not exaggerated or made up numbers either, you can find this information easily on Google for yourself if you don’t believe me.
There are thousands of “Side Hustle” out there that you can choose from. The questions that should really be asked are, “how much are you willing to hustle and are you willing to put in the work necessary?”
Conclusions
In conclusion, having a “Side Hustle” can provide a variety of benefits, especially in today’s economy, where financial instability is a reality for many. A “Side Hustle” can supplement your income, allow you to pursue your passions, and provide an opportunity to develop new skills that can be beneficial both personally and professionally.
While the pandemic has unquestionably changed our lives, it has also led to an increase in the number of people embracing the “Side Hustle” lifestyle. Whether it’s selling products or services online, offering services through freelancing platforms, or pursuing a creative passion, the opportunities are endless.
Starting a “Side Hustle” is not only about making money, but it’s also about taking control of your financial future and expanding your horizons. This is very important to keep in mind. Remember, success means different things to different people, and a “Side Hustle” can help you achieve whatever success looks like to you.
What do you think? Tell me in the comments below. Let’s make “Side Hustle” into something huge for all of us.