Working a side hustle isn’t a trend. Freelancing is no longer “only” a side gig. Moreover, remote work is a real opportunity for millions of Americans. While Pew Research claims internet use has plateaued, side hustles are far from peaking. It’s more likely that millions will join the leagues of freelancers. A recent Bankrate report found that:
44 million people have a side hustle.
A study commissioned by Upwork and the Freelancers Union in 2016 shows that:
55 million people were identifying themselves as freelancers.
Thousands of side hustle opportunities exist. Today, maybe now more than ever before, we have the chance to use our skills to earn additional income. While our skill sets differ, the paths we take to securing long-term gigs are similar.
Likewise, those wishing to turn their side hustle into a full-time freelancing gig or small business, find themselves on common paths regardless of the industry. In Forbes, writer Jeff Rose talks with author and entrepreneur Chris Guillebeau who says that:
Nearly anyone can take an idea and make it profitable if they’re thoughtful, strategic, and realistic enough.
Here’s the thing…ideas are a dime a dozen. It’s action that matters.
Is a side hustle worth it?
The majority of us side hustle to cover some monthly expenses, like the orthodontist payment or insurance on a teenage driver. Others tuck it away for a special vacation.
However, millions of people are increasingly turning to the idea of multiple income streams and becoming less dependent on one employer for the entirety of their income.
There’s a driving factor that pushes people into full-time freelancing or long hours to a side hustle. I like to call it—desperation.
- Desperate because your kids outgrew their shoes or the rent is due.
- Desperate because you hate your soul-sucking job.
- Desperate because of a change in life circumstances that threw you under the bus.
For plenty of people, that mindset fuels a fiery entry into the world of freelancing, side gigs, and remote work.
Often taking on a side gig helps alleviate the initial stressors stemming from desperation. However, you’ll need to evaluate your time and expenses frequently to determine if your side hustle is worth it. M
Side hustle time management
According to data collected by Intuit and Emergent Research, the average on-demand worker (or side-hustler) spends about 11 hours per week on their side-job.
I’m guessing this survey doesn’t take into account the number of administrative hours side hustlers spend each month on lead generation, marketing, and invoicing.
Moving beyond the average side hustle income starts with being purposeful with your time. In doing so you’ll find that you’re able to accomplish more with the few extra minutes you have while waiting in the car.
Know your “Why”
For some people, it’s a numbers game. Others need a picture of what they are working for every day. Maybe you keep your kid’s photos on your desk. Or the electric bill hanging on the refrigerator.
Others may dream of working remotely with the freedom to travel. According to a study by Go 4 Funding:
Women entrepreneurs start their businesses as a second or third profession. Many of them have experienced a considerable amount of dissatisfaction with their previous careers and in working for others.
Knowing your long game is crucial to growth. Beyond the financial numbers, what do you need by way of personal
If you want your side hustle to replace a full-time job eventually, then you need a strategic plan to propel you forward. Desperation no longer works as a motivator once you’re earning enough from your side hustle to satisfy those needs.
I said it earlier, and I’ll repeat it again:
Sides hustles and freelancing aren’t trends.
What’s your side gig? Are you looking to go full-time with it or want to earn more than the average each month? Subscribe below for real-life hacks that’ll change your mindset and prepare you for the side hustle and freelancing economy.
“Desperate because you hate your soul-sucking job.” <— Me all day.
I'm looking into affiliate marketing. Will be launching a new site soon, and I'm hoping to use its traffic for my new side hustle. I know this takes time… months, maybe even a year… and I'm OK with that.
The plan is to move towards something that fulfills and excites me, one step at a time. My current job isn't cutting it.
Yes! Affiliate marketing is an excellent way to diversify your income. Although I don’t do too much with it on this site, I’m hoping for my 2nd site to launch in early 🤞🏼 2019. If you ever want to chat about it, just msg me. I’m not an expert by any means, but I’ve compiled a ridiculous amount of research.
It sounds like you have a start on measurable goals that you can baby step towards. A lot of work, but the end result is life changing. You got this!!
Desperation got me lol. I started driving for Lyft and delivering for Postmates when my wife was between jobs and had legal bills. Someday I will have a side gig where I am making money off a passion.
Yes! Money is money and when you’re desperate, then any side job helps. However, finding a way to earn an income off something that you enjoy is wonderful. I’m not quite at the desperate stage, but I’m not too far off either, so it’s still a major motivator for me.
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