A side hustle is something you do outside your job to earn some additional income. Side hustles come in different shapes and forms. Some are more profitable than others. Some side hustles are just for fun or curiosity. Some are big and others small. Some require too much energy and others don’t.
There are three elements to choosing a good side hustle. First, it should be something you are genuinely interested in. There is no point in spending your weekends doing something you hate. The side hustle should tap into your interests and curiosities. Don’t try to copy and imitate what others are doing. A side hustle should be something fulfilling and helps you tap into your deepest desires.
Second, you should have some ability to do the side hustle. At least you should be willing to learn. If you are passionate about something then you will be willing to overcome the learning curve. You want to be excellent at your side hustle. If you plan to be average then don’t waste your time and money side hustling. Mastering your craft will take you to the frontier of knowledge in your field where you will notice gaps in the service offering. By exploiting these gaps you will be able to monetize your side hustle. It’s better to side hustle in a field where you have a natural competence or in which you have trained or practiced. A veterinary doctor could easily thrive as a poultry farmer. A pharmacist will easily operate a pharmaceutical shop. Don’t stray too far from your circle of competence. If you really want to stray into foreign territory then expand your circle of knowledge first.
Third, your side hustle should provide some tangible value to other people. A side hustle can start by solving a personal problem and later expand to serving other people. It is in serving other people that we are able to generate an income from a side hustle. Generating an income is important but not a necessity to pursue a side hustle. The best side hustles are pursued purely out of interest and curiosity. You rarely go wrong if you pursue your interests.
If you are lucky you will eventually land on a side hustle which you’re passionate about, matches your ability, serves other people and generates an additional income. If you find such a side a hustle you then need to question if it would be worthwhile to pursue it full time. However before ditching your job consider whether you have worked out the practicalities of surviving without a job. It helps if you have secured some savings and don’t have too much debt. This gives you a runway to ensure your side hustle takes off and can sustain you comfortably.
And if you decide to maintain your job, the detour into starting a side hustle will provide an outlet to express your creative juices. It will give you a chance to pursue something meaningful, to grow, to solve problems, exploit opportunities and serve your community. This will make you a better employee and you are likely to grow in your career as well.
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