If you are a Millennial, you may be very familiar with the expression “side hustle.” As indicated by the most recent post from CNN, around 44-million Americans side hustle. These numbers are amazing. It has had a major impact, and around 36% earn more than 500$ every month. At times when Millennials are described as lazy, it is very astonishing to see that even after nine to five, they are yet hustling.
For instance, there is quite a demand for people who teach English online. You can undoubtedly earn around 20-30$ an hour, or you can be a travel advisor and charge $65 an hour. The average tour guides earn around 50-150$ per day.
“Millennials have brought back the trend of side hustle and have rebranded it completely.”
Rising economy, student loans and paying off bills such as telecom, maintenance, etc has been the primary cause for Millennials to adopt this trend. It does add many benefits in the long run.
Let me show you the advantages of having a side hustle.
The most common reason for side hustle is extra cash. Extra cash always helps. You can invest the money in ideas and accelerate their progress. There is no limit, and you can always scale up your side hustle and turn it into a powerful revenue stream. Many have said they use the extra cash to add to their emergency fund or to pay student loans.
Advertisers pay podcasts around 300-450$ for playing their advertisements.
Side hustle enhances your work skills, helps you gain economic freedom and focuses you on objectives while helping you to avoid toxic people. You will learn numerous lessons when it comes to execution. The knowledge gained will help accelerate your your principle project and will boost your success rate.
It is bound to open new doors. While working as a blogger, you can get work from a fashion brand or a tourism company. You can also charge brands in order to advertise on your blog.
Gain Extra Skills
The potential for learning is unlimited. You can make your profile solid. For instance, I began an online store. In order to promote it, I had to learn online marketing skills. Consequently, I refined my abilities and now lead a digital advertising firm.
Your extra skills sometimes can land you a promotion.
Boost Your Network
You will become acquainted with many individuals in different fields. Your network is likely to expand. As they say, “Your network is your net worth.” I’m part of a group where we discuss how to influence and help each other. Recently, a fellow member posted about releasing a new book, and in a flash, people started purchasing and now his book is a bestseller. It’s always good to connect with like minded people who enhance our progress. A side hustle increases your chance of meeting new people and venturing into new fields.
If you feel stuck and require some change in your development, then a side hustle is idea. It can furnish you with another working environment, new assignments, and necessary break from routine. It gives you a chance to try out new fields.
You can learn from Influencers like Gary Vaynerchuk. His name itself is a side hustle and he leverages it properly to promote his digital agency by providing lots of value to aspiring entrepreneurs.
Opinions expressed here by Contributors are their own.