Gone are the days when people believed the idea of “Jack of all trades, master of none”.
These are the times of go-getters who pull up their socks for every opportunity that comes their way. It’s not just about making money but utilizing the time you have to the best of your abilities.
Over time, the term “side hustle” has gained popularity. For many, what began as a word referring to earning a little additional money outside of regular employment has evolved into a way of life.
Some people see it as a way of pursuing what they love while some view it as a means of fulfilling their purpose in life. The importance of side hustle has upsurged now from college students to entrepreneurs.
Famous personalities who made a fortune off their side-hustle
While it may appear that this is just the experience of ordinary individuals wanting to supplement their income, celebrities and the wealthy and famous are also reaping the benefits of their own side hustles or businesses.
Here are some famous examples:
1. Phil Knight- Nike
After being inspired by the running shoes he saw on a trip to Japan, Phil Knight, now 83, launched Nike with his old track instructor Bill Bowerman.
While still a student at Stanford, Knight developed an interest in selling shoes, but instead decided to become a CPA and pursued a career in accounting. In 1968, Knight found the opportunity to sell shoes at track meets.
He got sold out in hours! That’s when he decided to make Nike, then known as Blue Ribbon Sports.
2. Stewart Butterfield
Stewart Butterfield, the founder of Slack, was working on online video games in his then-company Tiny Speck in 2011 when he built Slack.
It is a message-based team communication platform that was initially built to facilitate communication among employees at Tiny Speck.
Stewart has been coding since the age of 12 and his intrigue for product development has been never-ending which drove him to build such an application.
Although his gaming company got shuttered in 2012, the side hustle brought him a fortune.
3. Rihanna
Rihanna, 33, earned $22 million from her music in 2016, but her revenues from her fashion and beauty endeavors eclipsed that figure.
She is the creative director of Puma, and she launched Fenty Beauty in 2017 and the fashion business of the same name in 2019 in collaboration with LVMH, a French luxury goods company.
Rihanna’s beauty brand is worth $3 billion, and she has a net worth of $600 million because of her side hustle.
Why is Side-hustle So Important Now?
“It doesn’t take a lot of time to build a side gig. It’s like getting in shape. You don’t go to the gym for eight hours a day a couple of times and expect to see results. Instead, you commit 30 minutes a day, five days a week, for a few months.”
Gerald Zingraf, Product Manager with side hustle
1. Pursue your passion
One of the most compelling arguments for beginning a side hustle is the opportunity it provides to accomplish something that makes you happy.
Create space for these activities during your nights and weekends, whether you’re an accountant by day with a passion for video game design, a hardworking high school teacher with a wonderful idea for a series of children’s novels, or a student with an outstanding gift for furniture making.
2. Personal fulfilment & growth in performance
Finding a means to make some money from these pursuits can help us justify the time we spend on them.
As a bonus, you might discover that a greater sense of satisfaction and personal fulfillment outside of work transfers to higher engagement, more energy, and stronger performance at work.
3. Feel empowered!
When you are working by yourself, you are your own boss.
Having the power to make decisions and experiencing the consequent output not only brings the feeling of empowerment but also instills leadership qualities.
You are accountable for analyzing your own performance and identifying your strengths, limitations, and long-term goals.
This capacity to assess your skill set will also help you in your professional endeavors.
4. Become more adaptable to changes
When you’re working on your side hustle, you’ll find yourself adapting to a variety of scenarios. You may discover that you are not obliged to adjust as much in your daily work because you are an expert in one certain area.
Pursuing your own side hustle, on the other hand, will need you to adapt to all facets of running a business.
Some may make you feel uneasy, while others may require additional research, or you may enjoy the entire experience!
There is NO downside to a Side Hustle
Types of Side-hustle You Can Pursue
1. Blogging
Blogging is one of the most popular side hustles. It may not be profitable right away, but for prospective authors trying to establish a personal brand, leadership, and portfolio, a blog can help you get ahead.
Learn how to purchase hosting and kickstart your blogging journey with nxtdecade.com
Benefits of writing blogs:
- Helps you build your own professional network
- Refines writing skills
- Build an online portfolio
- Express yourself and share your passion
2. Freelancing
Freelancing is a great side business for soon-to-be or recent grads who are being pushed out of full-time jobs by more experienced colleagues.
Working on a project-by-project basis allows some professionals to earn money while building a valuable portfolio and bolstering their resumes with a list of happy clients.
Some of the top freelancing jobs are:
- Web developer
- Graphic designer
- Social media specialist
- Web designer
- Videographer
- Editor
- Tutor
3. Sell your own handmade goods
If you are a person with a hobby of crafting, knitting, pottery, painting, etc. you should consider selling your handmade goods. Handcrafted items are valued higher as compared with commodity products.
Here are examples of some homegrown brands selling handcrafted goodies using social media platforms:
- @woo_darts – Sustainable gifting store founded by two college students who are art enthusiasts and love upcycling waste items into beautiful customized gifts.
- Sunshine & Macrame – A store selling macrame knittings made by a housewife.
4. Content creation
From fashion models on Instagram to comedians on Twitter, it’s now true that the common person has access to a massive audience unlike anything else.
Many of the world’s most successful entrepreneurs are creating educational content and offering it as courses and online podcasts.
The benefit of making and selling content as a side hustle is that modern technology has made it so simple.
With tools like marketing automation and point-and-click course building, you can create an automatic supplementary income stream that pays you while you sleep.
The Sandbox
Side-hustle gives you the freedom to experiment with ideas and test them in the real world without any big risks.
It’s like a sandbox where you can play around free of concern. It provides a cushion to fall on if you fail.
