Starting a Side Business or Getting a Part-Time Job
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Have you ever felt the need to try a new gig? If the answer is yes, but you haven’t explored this option in-depth because you don’t want to quit your main hustle, you can try starting a side business or getting a part-time job to test the waters. This will allow you to work on side gigs unrelated to your craft and find out if it is worth making a full career change.
The opportunities of side gigs are limitless and can be incredibly rewarding. Maybe you’re considering getting into an industry where you can transfer some of your current skills or pursuing a job that helps people, in case you’re looking for a more charitable option.
What is a side hustle?
A side hustle, also known as a side business by some people, is an entrepreneur or employment opportunity outside your full-time job that allows you to have another source of income. The reasons for starting a side hustle can go from needing to cover more living expenses, working towards establishing a business of your own, or simply wanting to make more money.
Despite the needs of time, resources, and work, the main perk of starting a side business is you’re in control of your time and workload, allowing you to have the freedom to cover your responsibilities whenever needed.
Another pro of side hustles is the chance they give you to explore your passions and talents. If you aren’t passionate about your current role, you can start a side business outside of your line of work and use it as a hobby or a tool to improve your work-life balance.
Work-from-home side hustles
Even if you’re starting a side business or a part-time job, it doesn’t mean you have to give up all your free time juggling one job over another. Of course, there will be times when you’ll have to hustle more than usual, but the increase in remote jobs has led to a wider catalog of lucrative and flexible side gigs. Below you can find some ideas of remote positions to consider for a side hustle.
- Freelance Copywriter
- Resume/Curriculum Writer
- Tech Support Executive
- Tutor
- Virtual Assistant
- Social Media Manager
- Proofreader
- Video Editor
- Career Consultant/Coach
- Recruiter
Leveling up your career with a side hustle
As mentioned above, a side hustle will level up your lifestyle and career. From a financial standpoint, it’ll allow you to supplement retirement, pay your bills, and boost your savings accounts. Still, your finances won’t be the only aspect of your life propelled by starting a side business.
Side hustles are an excellent way to enhance your skill set. Starting a side business outside your line of work allows you to learn new skills valuable in the job market. Even if you don’t intend to convert your side hustle into your main hustle, the abilities and knowledge you acquire from it will set the ground for a possible career change.
When it comes to making your profile stand out above other professionals, starting a side business represents a unique quality you can add to your resume or portfolio. On top of that, a side hustle will also reflect positively on your soft skills as it will prove your driven attitude and initiative to go the extra mile.
Are part-time jobs a better option?
Part-time jobs are often considered a side hustle by many people. Still, there are a few differences as to why some others may not consider them as good as starting a side business.
The clearest difference between these two employment options is the availability. A part-time job, even if it’s less than your full-time position, will require you to cover a schedule, while a side business has more freedom and control over what you do, when you do it, and how many hours you dedicate to it.
Despite this big difference between these two employment options, working part-time has some ups to give you a lot of security. From having guaranteed work hours and a paycheck to being able to use less of your brainpower to perform your duties, there are great attributes for anyone looking to earn more money and who doesn’t necessarily have the means to start a side business.
Nevertheless, you must be clear about the risks and ties of part-time jobs, mainly because they can zap your time away and leave no room for advancement. Despite the workload, your time is truly tied up and depends on circumstances out of your hands.
Turning a side business into your main hustle
When starting a side business, you should set short and long-term goals. In the short term, your main goals may be to increase your income, develop your abilities, or merge your hobbies with your work life. But have you considered what you want to achieve in the long run? Despite the skepticism, a side hustle with a strong foundation and business model can turn into a really successful business.
Even if your side business started as a hobby, it could reach one point where it can become your primary income source. But how can you figure out if your side hustle has what it takes to become your main hustle? Here are a few signs to have more certainty about if it can substitute your full-time job.
- Your product or service has a strong demand in the marketplace.
- You’re making almost the same or more profits from your side business.
- You’ve made a name in the industry and are competing with other companies.
- You’ve considered a career change and feel more comfortable with your new hustle.
- Your earnings will eventually cover your living expenses, health insurance, and retirement savings.
- You’ve made an emergency fund for any eventualities.
If you check off more than three of these signs, then you have enough arguments to make the move and turn your side hustle into your main hustle. If you’re convinced to go all-in with your side business, here are a few steps to get a head start.
- Create a business plan.
- Assess your strengths and growth opportunities.
- Stick to your current target audience and identify new possible markets.
- Invest in marketing your business.
- Optimize your time and productivity.
- Define small goals and tackle them one at a time.
Whether you lean toward starting a side business or getting a part-time job, having a side hustle will require commitment and discipline. Nevertheless, the rewards, both financial and professional, will be unmatched. The main takeaway is to think big. Once you’ve found a hustle that involves one of your passions, draw a plan to turn it into a full business.
Contributed by Luis Arellano
