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Gone are the days of traditional employment, marked by corporate ladders and pension plans. Times have changed, and people are responding with an almost necessary entrepreneurial spark. Bogged down by student debt and dwindling savings accounts, young professionals are caught in a choice: pay off student loans or save for retirement?
For this reason, Millennials in particular are getting creative to boost their income, with almost 40% taking on side gigs. Why start a side hustle?
Side-giggers take on part-time side work in addition to their everyday roles as corporate grinders or students. For some this means fee-for-service models (think: Uber driving, babysitting, or photography services), while others build part-time businesses that pay out exponential income. This is commonly referred to a side hustle.
Why start a side hustle? Whether you’re a budding entrepreneur or just looking for a little more fun flexibility in your life…
Here are 5 Reasons to Jump into the Side-Gig Biz (or Side Hustle):
1. Glass ceiling? Consider it shattered.
There’s no cap on earning potential, it’ll extend as far as you’re willing to work. Thanks to social media, networking takes place on a global scale and opportunities come from anyone, anywhere. All you need is wifi and a dream.
2. Strike a work-life balance.
Carpool duty in the AM? Need a mental health day? Can’t reschedule that doctor’s appointment? No problem. You are truly the boss of your own schedule in your side gig… Working in your pj’s happily encouraged.
Related Post: Want to Start a Business? Overwhelmed?
3. Biz backed by technology.
You’ve got everything you need for a successful business in the palm of your hand: phone, internet, camera, social media, and millions of apps. From online marketplaces like Etsy to virtual-based direct sell businesses, you can build your empire on the go.
4. Work for passion.
Do what you love, love what you do. Financial stress can make this difficult, but a side gig can help bridge the gap between doing what you love and doing what pays the bills. If you want to get out from that cubicle, 3-5 years of working your side-gig biz can get you there. Perfect for your side hustle.
Related Post: Why I Started My Company – the Search for the Perfect Job
5. Turn-key business.
Not sure where to start? Look into a turn-key businesses with low start-up costs and training. They give the keys to you, all you’ve gotta do is drive. You’ll have the tools to leverage a billion-dollar brand and build a business without the expense, time, and legal hurdles of a traditional organization.
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- Tips to File Self Employed Taxes
Five wonderful reasons to jump into a side-gig biz and start your own side hustle. Have you considered starting your own side hustle? What is holding you back?
Morgan Lindsey Craven is a corporate healthcare analyst, MPH graduate student, and Rodan + Fields consultant. She lives in Dallas, TX with her boyfriend and attends George Washington University. Outside of work and school, she loves going to Pilates, eating Mac n’ Cheese, travel, and petting strangers’ dogs. Curious about what she does for a side-gig biz? Check out more about R+F products and its business opportunity.
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If you can create the time, side hustles are a really fun way to find fulfillment and a little side cash. And that’s especially for people who have 9-to-5 jobs they aren’t super passionate about (myself included).
That is very true! You have to love your side hustle 🙂
I’d love to be my own boss, preferably with a great blog. I think those days of actually going to an office building are soon going to be rare.
Recently, I read a future-thinking article and it stated that an office job will be phased out. It is crazy to believe, but if it allows a work-life balance, I am all for it!
Work-life balance is super important for me. That’s what led me down this road of side hustling!
Same for me! Balance is a huge component in my life.
Fab post, I love my side hustles and couldn’t imagine my life without them.
That is great!