A side hustle is an important tool for growing wealth. A side hustle is anything you do to make money that’s outside of your normal job. Side hustles are important for two reasons. The first is obvious, extra income. Clearly extra income will help you on your journey to wealth, assuming you use that extra income to build wealth and not increase your lifestyle.
The second reason side hustles are important goes beyond just an extra $200 per month. Side hustles encourage you to think differently about your income. When you start to train your brain to ways to earn extra money you open up your life to new possibilities. You will stop equating dollars with hours and start seeing the world in a new way.
Often times we have ideas that we know can make money but we don’t follow through because we don’t know where to start, or the project seems to big. You might be thinking, “I love to hike and I think my neighbors would pay for a hiking tour of our area but I don’t know where to start”. The best way to start is to just start. Put out a flyer and see what happens. You don’t have to have a big marketing plan and perfect pricing. Just start. You can make adjustments as you go along. If you charge $5 and 50 people show up then charge $10 next time and see how that changes things. Or if you start at $25 and no one shows up then maybe drop the price and see what happens.
Just about any hobby could be turned into a side hustle. A friend of mine raises chickens and had to pluck 15 chickens last weekend. She didn’t want to do it all herself so she posted in a local forum asking if anyone wanted to come learn how to pluck chickens (I didn’t even know they had forums for such things.) She got such a good response that she ended up charging for a chicken plucking class. Not only did she get all her chickens plucked, she made some money in the process. People PAID to come help her pluck chickens! Crazy.
If she didn’t have a side hustle mentality she would have missed that opportunity. It wouldn’t have ever occurred to her that she could get her chickens plucked for free, let alone get paid for it. The idea that you can get paid outside of a job is an important concept to building wealth. Even if you start a side hustle and it doesn’t work out it’s not a failure because you are practicing a valuable skill. That attempt will pave the road for the next idea.
You never know what opportunities will arise from being out in the world. Your side hustle might turn into your main hustle if you are open to that possibility. I have another friend who started house sitting on the weekends. He started with one client and one referral led to another until he had so many houses to care for that he started hiring people. Now he doesn’t even do the actual house sitting anymore. He takes “orders” and has his employees do the work.
Do you have a side hustle?