We are living in the golden age of side hustles. Thanks to the internet it’s never been easier to make extra cash on the side. And at least half of you are doing it.
According to a recent poll I conducted on LinkedIn 52% of my connections had a side hustle. Another study published earlier this year states that number is around 44%.
The proliferation of the side hustle economy is in full effect thanks to sites and opportunities such as Upwork, Taskrabbit, Fiverr, Uber, Doordash, Instacart and others. I watched a video the other day of a guy in Southern California who does Doordash on his ebike and he makes upwards of $1,900 per week.
Not to mention channels like Youtube which allow content creators and influencers to monetize an audience. If you can gain an audience of at least 1,000 followers you can turn on monetization and make money off ads. So not only is that DoorDasher earning money through deliveries, he’s capitalizing on the content via his own Youtube channel.
From Side Hustle to Full Time Gig
There are many reasons why people choose to have a side hustle. Some people do it for the extra income, while others use it as a way to get started in their own business. No matter what your reason is, a side hustle can be a great way to improve your financial situation. And sometimes it can also lead to a full time role.
Andrea Clement from Clem.co LLC is the perfect example of that. She commented on my poll about how her side hustle evolved into a self-employed full time job;
A side gig completely transformed my career. After 15 years of staffing, I wanted to do something different. I got a side gig writing about health careers while I worked for a healthcare recruiting firm. Then, based on my side gig, my full-time role evolved to media/comms also. ... Then I picked up a few more side-gig/ freelance clients here & there, until I was able to stitch together full- time work out of former side-gigs! So now I'm self-employed as a business/healthcare writer and media consultant, and loving it!
Effects of the Side Hustle on Recruiting
One of the more underreported aspects during the “great resignation” and the recent talent shortage was the fact that more people are turning to side hustles as a primary form of employment. They don’t want to deal with having a boss or working on set schedules.
Hourly employees are seeking positions that allow them to manage their own schedules, prioritize family events and avoid burnout. Thats why gig work is so attractive. Employers must evolve to attract and retain employees while simultaneously improving the lives of their managers.
“While the pandemic forced the knowledge work sector to evolve by offering more flexibility in working hours and location, the hourly workforce sector didn’t develop alongside it. This has created a significant gap between what hourly employees want and what hourly employment currently offers,” said Sanish Mondkar, CEO and founder of Legion Technologies.
Legion’s research found that hourly employees are opting for gig-like flexibility because it gives them more control over their schedules and allows them to create a better work/life balance.
This means employers need to rethink their recruitment messaging as well as the employee experience. You need to automate aspects like scheduling, allow workers to pick up shifts in an app, provide daily pay and be as flexible as possible when it comes to scheduling your workers, particularly the hourly workforce.
In short, you need to make it simple and easy to get people to come work for you. Otherwise DoorDash, Youtube and the rest of the gig economy will snap them up.
Benefits of the Side Hustle
The first benefit of having a side hustle is that it can provide you with extra income. If you have a full-time job, a side hustle can help you make ends meet or save up for something special. Even if you don’t need the extra money, it’s always nice to have some extra cash on hand.
Another benefit of having a side hustle is that it can help you gain experience in your chosen field. If you’re looking to start your own business, a side hustle can give you the opportunity to test out your business ideas and get some real-world experience. This can be invaluable when it comes time to launch your business.
Finally, a side hustle can simply be a fun way to make some extra money. If you enjoy what you’re doing, then it won’t feel like work at all! Whether you’re looking to make some extra money or gain some valuable experience, a side hustle can be a great option.
If you’re interested in starting a side hustle, there are a few things you should keep in mind. First, choose something you’re passionate about. This will make it much easier to stick with your side hustle and see it through to the end. Second, don’t quit your day job! A side hustle should supplement your income, not replace it. Finally, be prepared to work hard. A successful side hustle requires time, effort, and dedication.
I’ve been side hustling pretty much since the late 90s when I moonlighted as resume writer before starting my first job board (also a side gig). Eventually the job board turned into my full time job.
So I guess you could say I’ve always been side hustling. Sounds like the rest of the country is moving that way too.
