You may have been confronted with the idea of having a side hustle as a necessity. Today, there’s a social culture centered around the idea of creating something lucrative that brings in a few extra hundred dollars per week – in addition to your 9 -5 job. The idea is a good one, but many people are going about it the wrong way. Some people have made it look like you’re doing yourself a disservice by not having a side hustle.
This and many more misconceptions about side hustles are what you’ll learn about in this article. First off, It’s a great idea to have a side hustle. Many people find fulfillment and a sense of meaning in life by investing their free time into what they love. Similarly, you may have a passion, a new skill, a story, or a creative knack you wish to show to the world.
Starting a side hustle allows you the freedom to express these things – and in most cases, cash-out also. Of course, many people are into side gigs because they need the money to pay utilities, pay the mortgage, contribute to savings, or start a project. However, you need to be wary of these wrong notions, especially if you’re just starting out.
To make the best of your time and resources while investing in a side hustle, here are some misconceptions about side hustles that you need to be aware of.
1. I can’t start a side hustle because I don’t have any ideas
Not everyone who runs a successful side business is a genius or idea machine. Idea generation isn’t such a challenging task today. A simple look around you will open your eyes to many choices to choose from. And you don’t have to start what you’re not interested in doing just because you want to raise extra money. The chances are that starting a side hustle just to make money is a big reason why the business may fail.
This is one of the lessons of entrepreneurship that you’ll need to hold on to. No venture ever succeeds if you don’t have the grit to push beyond obstacles. Because the truth is, you’ll come up against some challenges. You don’t have to love your side hustle, but if you’re not willing enough to pursue it, just think of something else.
Thanks to the internet, there are so many ideas today – ranging from flexible jobs that you can do during your spare time to more complex entrepreneurial ventures. For ideas on what to do, you may check out this post about developing a successful side hustle.
2. You must hustle like crazy to be successful
While you must allow sufficient time to invest in your side business, you don’t necessarily have to work yourself to the bone to make it happen. If it is a side hustle, then it should be a supporting source of income.
If it’s a pet project or charity, be sure that it’s something that resonates deeply with you and allows you enough time to focus on your main job. If it’s that serious, you may need to set an exit plan in motion so you don’t take away attention from your full-time job. You also have to be able to get enough rest in between the two jobs.
Another similar misconception is that you need to be involved in several side hustles to make it. On the contrary, if well-executed, one good side business may just be sufficient enough until you have the time to try your hand at other ideas.
3. Everyone needs a side hustle
This can’t be true. Otherwise, those who don’t will be losing out on so much. Starting a side hustle should be based on a personal drive or inner will to do something important in your spare time. And not because you feel pressured. Frankly, that takes all the fun out of it.
Start a project, a business, a hobby, or something that piques your interest, but not because you feel you’re doing something wrong if you don’t create it.
4. I need more time to plan well
It may seem like you need a lot of time to put together a grand plan before starting your idea. But it is the little free time and breaks here and there that you need to leverage. Also, you don’t have to have everything in place before pitching your idea to people.
Perhaps, your vacation break, a weekend away from the chores at home, is all you need to make a solid plan. But if you never attempt it, you may never know.
5. A side hustle will not affect my job
So, you’ve found that thing you’re so passionate about, and you believe that creating time for it will not impact your job?
Well, you may be disappointed somewhere along the line. No matter how hard you try to separate the two, one will eventually suffer at one time or another. You’re already working additional hours, so occasionally, you will be stretched thin.
One in every three side hustlers admits to working their gigs during their office hours. It may be taking a phone call, replying to an email, or even building a website.
6. Building your passion is the perfect idea for a side hustle
It’s one thing to have a passion or hobby that you genuinely enjoy. It is yet another to make money from your passion. There’s a possibility that your cake baking, photography, or knitting will cease to give you the satisfaction of a hobby when you start thinking about marketing, accounting, and customer service. These other activities are centered on monetizing your passion and may take away the fun in it.
7. A side hustle is your quick ticket to sufficiency
Your motivation to start a side hustle may be based on successful examples from around you. You may fail to realize the amount of work those people have put into it to arrive at where they are.
Building a successful side hustle takes grit, patience, and hard work. It can require you to stay up many nights to learn the ropes. Setting a realistic expectation helps you avoid getting your hopes dashed.
So, as you start thinking about what to do and when to start, ensure that your plans are clear of any myth or misconception about having a side hustle.