Side Hustle?

We all know the world economy is changing.  Jobs are being eliminated and automated.  I don’t want to be all doom and gloom here just stating some facts.

I want to encourage you to look beyond just having a job and or career.  Consider doing a side hustle in addition to your job.  A side hustle is basically start a part time business with your spare time.  The other term is an entrepreneur.

More than one source of income is imperative these days.

Everyone needs a job and career because we all have bills.  I get that. Regardless if you are employed, underemployed, or seeking work. Everyone needs to look beyond their job for your main source of income.

Explore new avenues to generate extra income and learn new skills. Depending on the side hustle you choose, you could also make new contacts, new friends, and if you are single, possibly meet your new significant other.

That job as we all know can be wiped out quickly by downsizing, closings, offshoring, or you go through a tough spot and don’t perform well, you can be fired.

Prime example here, I have a friend that worked at a company for over 5 years.  She never took a sick day or any vacation time.  The one day she was sick and showed up thirty minutes late for work, they fired her on the spot. Goes to show you companies don’t value loyalty or their employees these days.

Her experience as well as a few other of my friends have shown me that it is very important to learn new skills and be open to new possibilities outside of the normal get a job work 9 to 5 grind.

The side gig will provide some extra income. Don’t squander the extra funds on stuff that will depreciate in value. Choose wisely. Invest in yourself and your business.  Decide on how you need to allocate this extra income.  The extra cash could be used to expand your new business as well as capitalize on other opportunities.

The extra money could be used to pay down debts, save for emergencies, save up for a purchase of a home, or invest the spare cash. Most people have 3 major debts.  I’m going to skip the auto loan for obvious reasons, but truly don’t have to have a car loan.  A clunker could work nicely. Just saying. Most debt can be broken into these main categories.

Credit card debt

Medical debt

Student loan debt

These 3 above are big drags on people’s pay checks and what they have left over.  Keep this in mind to help motivate you to expand your thinking on ways to create a part time income that you own and control that could turn into a full time gig for yourself. 

If you are fortunate enough to not have these debt related issues or have gained mastery over them, consider investing your money to make your money work for you by investing in stocks, bonds, real estate that hold value and possibly provide passive income from rent, dividends, and interest. 

Learn new ways of thinking by reading or attending personal development seminars, investing, stock trading, real estate investing, entrepreneurship. The experience of trying is beyond what you will ever learn from going to school and possibly reading about the subject if they teach it at all.

Learn new skills to earn more money.  Do not be afraid to try new ways to make money.  For example, start selling items that you no longer need or want on the major online platforms such as Ebay.  Master the art of writing product descriptions and photos of your items for sale.

More suggestions for you to consider. Learn online marketing, blogging, learn how to create a website. Get creative.  Your creativity can go beyond just online.  There are numerous examples of people starting businesses off line as well with out a brick and mortar store. 

Do some research in the areas you would like to make money in for your new endeavor.  Don’t follow the worn out mantra of follow your passion. Always be open to exploring making money in areas that may not excite you, but the business data shows can be profitable. During your research, you may discover a profitable business idea that stirs zero passion for you. Explore the data anyway. You can be passionate about an idea for a business, but the objective is to be profitable. 

I believe most of us would become passionate about the idea because of the income potential. 

Happy researching and don’t forget to take the jump and go try new paths.

Author: Bria

Breaie.com

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