5 questions to ask yourself before starting a side hustle
A lot of us are wondering if a side hustle is right for us. Here are five questions Lindsay Boccardo, generational consultant and millennial career coach says you should ask yourself to get clarity before you take that leap:
Am I doing this to escape
my current job?
It’s easy to create a
fantasy when you see other people with side hustles that claim they are making
six figures. If you find something you’re truly passionate about that you want
to move towards, great. But if it’s a “get rich quick escape my boring life”
plan, it likely won’t work out in your favor.
If you do want to make a
career transition, a side hustle is a great way to learn skills that will
benefit you down the road.
Do I need money right
now?
If you need money right
now, you might want to take a look at your current skillsets and focus on which
ones pay the most per hour. For me, when I was building my speaking and
consulting business, I taught drum lessons on the side because it’s the best
money per hour. What’s your skill? The internet makes it possible to monetize a
lot of different skills through apps like Thumbtack.
Do I find clients and
customers or do they come to me?
There are two types of side hustles. There are some that reward you for finding new customers, and some that connect you with an existing customer to deliver a service. Uber or Instacart for example, send you customers. Young Living oils, and Beach Body reward you for finding people. You probably already know in your gut which of those options is a better fit. Basically, if you don’t like sales, make sure that’s not a requirement of your side hustle.
How important is
flexibility in time and location to you?
For example, you can do
transcribing on the side from anywhere, but if you want to start selling
cookies at the farmer’s market, you’ll need a plan that you stick to if you
want to make it worth your time.
Do I have the capacity?
Side hustles take a varying
amount of energy to start up, so check in with your calendar and your energy to
see if it’s realistic for you.
Closing: As a career strategist to Millennials and Gen Z, it’s very common to see young employees flowing in and out of side hustles as a way to explore career options, make some cash and make the most of their free time. Remember, you don’t have to marry your side hustle and you aren’t a failure if you figure out that it didn’t work for you. Don’t be afraid to explore, with these questions in mind.
For more from Lindsay, visit her website lindsayboccardo.com.