Are you part of the Side Hustle Revolution
This blog post is about "The side hustle revolution" and why your need to be part of it. It is about creating financial resilience by diversifying your income.
Status of work today
In 2014, 15% of the workforce had temp jobs. Today it is 25% and projection are that by 2030 [50% of our work force is expected to be temporarily employed. More and more businesses are hiring people to accomplish a specific project. When the project is completed your will be looking for another job. Permanent jobs will go to creative, team players. For long term employment, degrees will not be as important a hiring criteria as the skills your have and what your have accomplished.
Degrees get your foot in the door. Skills and accomplishments help your advance your career.
When I began my career, the advice was to get a degree, Get a good job with Government or a big corporation and your could expect to spend your career working for that one organization. I worked for 4 organizations, all governmental, during my career and I was considered a job hopper. Today, five years is considered a long tenure with a single employer.
Companies are automating repetitive jobs and contacting with temp companies to provide the work force. Employment is more and more modeled after the Union Hiring Hall. Go to the hiring hall in the morning. If there is work, your work and if there is no work, your go home. Temp jobs, contract work, and freelancing are becoming the norm. More often than not a temp job is the path to long term employment in a company.
If your are fortunate, your may get a permanent job but the recent Government shut down showed how vulnerable people are to interruption in their cash flow. Most Government employees are living paycheck to paycheck and don't have enough savings to survive on missed check. There is no financial resilience when your depend on one source of income. I look at a job as a mean to survive while I develop my side hustle.
Don't get me wrong. I enjoyed my work most of the time. I had some great bosses and some real jerks. If I had a side hustle in place that could have supported my family, I probably would have quit to pursue my business.
Defining the word "hustle"
I've been criticized for using the term hustle when referring to a business we develop while keeping our job. It is true that when the term hustle was introduced by newspapers in the 20s hustle was used to describe barely legal activities that conned people. Over the years hustle has come to refer to legitimate entrepreneurs who are actively promoting their business.
I spend my time helping my wife and developing my internet business. My day is spent hustling from helping my wife to working in my business. I am a proud hustler and my business motto is, "Help where I can and where I cannot help be very careful not to hurt."
The side hustle has evolved into something people want to do to express their passion.
A side hustle is not a second job. Side hustles captures an adventurist, entrepreneurial spirit. It is usually a business your want to develop because it is interesting and reflects your expertise.
The side hustle is a successful business catering to a specific audience. It may never take off, but it is a great way to see if your have what it takes to be your own boss. More and more people are looking at a side hustle as a way to develop the income they need to leave a job that is no longer fulfilling.
Why your need a side hustle
40% of employees who have a side hustle share what they are doing with the employer. Progressive bosses don't see a side hustle as having a negative impact on and employee's performance. Rather, they understand a side hustle can provide an employee experience and skills that will make the employee more valuable to their business.
People are multi-passionate. They want to look into multiple things that interest them. Their side hustle may develop based on one of those passions. People don’t necessarily develop a side hustle because they hate their jobs. It is often a way for them to share their passion with others.
A side hustle is not just a way to make extra money. It is a way to explore our interests and to create a sense of fulfillment. Often our jobs are not in alignment with our values and our calling. That leads to stress and frustration. A side hustle can fill that void. It can be a way to fulfill our personal mission.
A resilient life style
Where to start? If your don't have a mission, find one. Start with your values. Values are formed early in life. We may not even be aware of them.
Parents usually pass on their values to their children by the examples the set.
My parents took me bird watching on the weekends and to Audobon Society meetings on Friday evenings. My dad was a preacher. It was during one of his sermons that I decided I was put on this earth to help others and to help care for God's creation. I became a forester and did what I could to care for my corner of our planet.
Unfortunately, we are facing the three apocalyse: climate change, mass extinction and the turmoil of societal breakdown caused by desperate people trying to survive. We have a decade to turn things around. After that we will be over the tipping point and the world of my grand children will be much more hostile than anything we can imagine.
That is why I am an advocate for developing a resilient lifestyle. Prepare to survive the next human or natural disaster. Develop a side hustle that will provide your a residual income based on multiple income streams. How well your can survive the coming turmoil will depend on how much money your have.
Skills your need
That is why we are all here at WA. We have to think beyond a second job. Jobs, even jobs your enjoy, are for survival. A side hustle can help your live your dreams or perhaps even survive your worst nightmare. I believe Internet Marketing (IM) provides us the best way to diversify our income. I know WA provides the best IM training available.
Complete your training as quickly as possible. Implement what your learn. Promote your business until it is profitable. Then repeat the process and scale up your income. Make WA a lifetime commitment and help others accomplish what your have done. Take care of yourself; take care of your family; help your neighbors when your can. Strengthen your relationships by expressing your gratitude and helping others improve their lives. Your life will be longer, happier and more productive when your have strong supportive relationships. Turn your website visitors into customers and your customers into friends. You do it by helping others and showing people your can be trusted.
Recent Comments
9
Thank you for such a great post and I never thought about being apart of side hustle before but you are right though.
There is no more job security in this world we are just occupying time during the day by doing something between the hours of 9-5. They really aren't jobs anymore just over broke but now by the time you paid your bills you are broke most of the time.
People don't even have money left over in most cases so that is where the side hustle comes into play having money left over by building a business online. That is job security now.
Mary
Thank you all for your comments.
I find it frustrating that so many people are job oriented. The trade their time for money. I want residual income I can scale up. Even small business people create a business that gives them a job.
Even doctors, lawyers and other professionals are trading time for money.
In our business model, IM, we are creating passive income based on multiple sources of income. Even Amazon uses the IM business model. They sell stuff for others.
Well thought out post, Bill, right place and the right time for many.
We just need to get on with it.
Thanks for the reminder.
Alex
The “side hustle “ has definitely become a necessity in the world today. Thanks for the great read.
Great post thanks