Do you like your job but find it doesn’t quite earn you enough money? You may want to start considering the inclusion of a side hustle in your life. Though you may continue your regularly working life, a side hustle can help to enrich not only your bank account but your CV as well. As it demonstrates a certain type of engenuity and interest to keep pushing yourself.
So, do you want to consider starting your very own side hustle? Then consider a few of the following points to help you along the way:
Choose Something You’re Good At
A side hustle is only as good as the person attempting to be the hustler. For that reason, if you have a particular skill in mind when attempting the side hustle… then all the better. It’s much harder to start a side hustle that you have to learn the skill for along the way. Of course, the other caveat of a side hustle is to follow. This can sometimes mean pursuing a side hustle based on your primary skill may be more difficult than you imagine…
Try to Prevent Overlapping Your 9 to 5
…because you really shouldn’t attempt a side hustle that overlaps with your day job. Why? Well, primarily this is because in your employee contract. Becoming any type of competition is extremely frowned upon, preventing you from doing so at least 6 months after your employment ends (particularly aimed to prevent client poaching). Of course, this may vary from contract to contract. So you could check yours to be sure. However, it is likely to be the case as this is standard across employers.
Which means that you will need to choose a skill which doesn’t overlap with your daily 9 to 5 in order to work on your side hustle. This tends to be why people choose to sell things, create products or likewise instead of offering a service. It is much easier to avoid any type of overlap or issues evolving as a result.
The biggest issue when it comes to successfully starting and maintaining a side hustle is the effort put into the endeavour. A side hustle is more than likely to fail if little time has been put into maintaining it. A seed cannot grow without light or water after all, nor can your side hustle. In the beginning, this means that it will likely be extremely time intensive. You will need to devote much of your free time to setting yourself up.
After a while, this will become much less time intensive and you should find that your side hustle can begin to mind itself. Instead of putting lots of hours into the endeavour to start it, you will only need to do so much as is needed to maintain and make money from it.
Try to Avoid Any Legal Woes
The thing with starting a side hustle is that many people fail to ensure they have set themselves up correctly in terms of legal issues. This includes insurance and, yes you guessed it, taxes. The government frowns heavily on undeclared earnings and you could find yourself in a lot of trouble if you fail to report this.
So, in that sense it is best to hire a corporate solicitor or an accountant to sort out these issues—especially if you have no skill to do so yourself—or you may find yourself worse off needing a litigation solicitor Manchester to help you to resolve the issues arising.
Side hustles are the future of work. More and more people are taking up ‘micro’ jobs in order to make ends meet, that is the reality of the modern workforce. And for that reason it is vital that we act now and start our own support systems today. As, otherwise, you could find yourself being left behind by the evolving world of work.