By Books Writer – Denise Turney

Technology has busted open the door to the entrepreneurial life. More than a few people are taking advantage of this shift. In fact, Nasdaq reports that, in the United States alone, 1 in 3 people have a side hustle.1 More money, flexibility, opportunity to work your way into a new career, lifelong learning and the chance to slowly launch your own company are reasons why you might want to consider a side hustle.

So Many Benefits Working a Side Hustle

Because you could work a side hustle from home or even while out on the road, you could work a second gig from anywhere. You could even tap into income that you receive from your full-time job to fund a startup. Another thing that you could do is to use money from your full-time gig to pay for marketing, office supplies and other resources that you need to keep your side hustle going.

Thinking about starting a gig on the side? Check out these additional benefits associated with having a side hustle:

• Pay off credit cards and loans
• Set aside more money for retirement
• Build a savings to travel, pay for home repairs or put your kids through college
• Explore new careers
• Invest more money in real estate, stocks and bonds
• Work your way into better financial health to eliminate money worries

Are Your Organized for a Job Side Hustle?

There are plenty of benefits to be gained from working a side hustle. That’s for sure. However, even if you love the second gig, taking on additional work is going to chew into your time. If you have strong organizational skills, you might enter a smooth flow while working your second job.

On the other hand, if “being organized” is not your strength, you could still make it work. To realize success while working a side hustle, consider why you want to work another job. Knowing the why behind the move can definitely help you realize when you’re on track.

For example, if you want to work another gig to pay off a high interest credit card, write that down in a notebook. Then, pay a certain amount extra on your credit card until it’s paid off. Believe it or not, you do not have to keep a credit card balance. You can actually live very good without one.

Set Yourself Up for Job Success

Here are more ways to yield successful results after you take on a side hustle. As a tip, the number one thing is to take on a side hustle in a field that you’re passionate about. This is a part-time job, project, freelance work or consulting work that you absolutely love.

Now, for the ways to increase your chances of experiencing side hustle success:

• Set days and times when you’ll work your side hustle. The last thing that you want is to keep taking on more work until you end up having to manage two full-time gigs. So pay attention to when and how much time you’re investing in your side hustle.
• Determine how much money you’re going to pour into this new job. For instance, if you’re writing books as a side hustle, get clear about how much money you’re going to spend on book marketing, attending book festivals and promotions.
• Keep your side gig separate from your full-time job. This might take some discipline. In other words, focus on your full-time job while you’re there and on your side gig at other times.
• Delegate and grow. Reach out to the “experts” when you need to complete work that you’re less experienced with. In this case, you might hire someone on Fiverr, Upwork, etc. to design logos, write and distribute press releases or design a website.
• Keep clear records. You’ll really appreciate this one when you file taxes. Also, educate yourself on quarterly taxes or any self-employed taxes (and deductions) that you might deal with.

And, network. Just as you can benefit from networking at your full-time job, you can continue to move forward by networking with people in your side hustle field. Who knows? One day soon, your side hustle could become so successful that it becomes your main source of income, earning you a lot more than you ever made working a traditional gig.

Resources:

1. Nasdaq:  https://www.nasdaq.com/articles/1-in-3-americans-have-a-side-hustle.-here-are-the-benefits-to-having-one-2021-07-24