There I was, sweating my butt off on a treadmill with my arms pumping like crazy and my eyes continually scanning the screen as I watched my heart rate climb. As I adjusted my heart rate monitor, I glanced around the orange-lit room of my new place of employment just hours into my first day on the clock. I was thinking two things: 1) this was going to kick my butt (in every good way possible!), and 2) this was not only going to earn me money but would align with the wellness themes I talked about in my coaching practice. Working part-time at a popular fitness studio was my new adventure, income stream, and path to a healthier me. Who knew I would be this excited about side hustling to save for my kids’ college expenses?
Whether you are seeking more money to attain your personal financial goals, or to contribute to household goals, or you are looking for more fulfillment in your professional life while testing the waters with the idea that fills your passion cup, side-hustling can be a fantastic way to flex your earning potential, get more from your time, and experience a personal and professional growth spurt.
As I clean out my work/gym bag, wash my water bottle, and kick off my running shoes, I can confidently say there are many benefits of pursuing a second (or even third) income stream. Here are a few that I have experienced or observed on my journey:
- Parallel-tracking your passion alongside your primary career can increase your sense of fulfillment in life. Listen, we only have so much time on this earth. Why wait until retirement to do what you love, including that dream job you never thought possible?
- Bringing in extra money through a side hustle can take the pressure off the speed of your growth in your primary career path. Many ambitious professionals are paying their dues as they climb the ladder- trading experience for compensation.
- Starting a business while gainfully employed mitigates one of the biggest fears of entrepreneurs- not being profitable fast enough to cover living expenses. (I feel this one in my core.)
So, if you are mentally evaluating the pros and cons of taking on something new, ask yourself these questions to help you assess the approach that is best for you at this point in your life:
- Why do I want a side hustle?
- More money?
- A creative outlet?
- To expand my skills?
- To start and grow a business (to replace my day job one day)?
- How much time do you have to dedicate to another job?
- Availability to show up physically (i.e., shifts outside of your primary job)?
- Time to reallocate to working on your side hustle? (i.e., while watching tv in the evening or while the kids are at school)
- How does a side hustle align with my personal brand?
- Is this important to you?
- What are the benefits and detractors of a side hustle relating to your “story”?
- What considerations or filters should I apply to my search as I narrow down what I want to pursue?
- What resources do you need to start your side hustle?
- Do you need accounting support to start your own business, or will you be an independent contractor? What is the tax impact?
- Does your side hustle require an up-front investment?
- Do you have the runway to be patient for the return on your investment?
- Other considerations:
- Does your primary employer allow for outside employment?
- Will your social media posts regarding your side hustle be visible in circles that may be sensitive to them?
If you have decided to go for it and hustle your way into a new income stream, then raise your glass and give me a “Heck yes, girl!”. I am here for it. While running, rowing, and sweating all over the studio floor, I’ll be thinking of you and how we are pursuing our goals and growing in some way as we do it (hopefully shrinking versus growing in my waistline, of course). We only live once, so let’s go for it. I got you!
All my best and more!