Career reinvention, finding a new job, or starting your own business can be a scary time! It’s especially daunting if you’ve been successful up to this point, and want to move on to something new. It can feel like a lot of risk!
The great thing about our current economy, is that you don’t have to make big career changes all at once. The opportunities for contract, part-time, and freelance work are more numerous than ever. With a bit of planning and hard work, we can make these changes in phases, on a timeline that suits our needs. By turning one of your passions or skills into a side hustle you can give yourself some breathing room financially, while also building your skills and network!
Benefits of a Side Hustle
Everyone thinks about money as the first benefit of a side hustle. That’s definitely up there—the freedom that money can bring is certainly useful. I think there is one other benefit that’s more important though.
Choose a side hustle that will allow you to build skills that you’re interested in and passionate about. A side hustle is a great opportunity to get more experience in your niche and more practice at your craft. Building your skills is an investment in yourself that will leave you feeling accomplished, and lead to more opportunities in your future.
Making money doing something that you enjoy is a great feeling. If you can turn your passions into profits, it can also create new opportunities—especially if you invest in yourself or your business. A new side income could be just what you need to put yourself in a position to start a business of your own!
Build Your Portfolio
In addition to building skills, working on professional projects that you enjoy helps to build your portfolio and resume. Taking on gigs and contracts that showcase the skills you’re most proud of will expand your portfolio of work in the direction you want it to expand. You can parley these work examples into more, better projects, or into your marketing pitch for your new business.
Expand Your Network
Starting your own side hustle is also a great way to expand your network. Connecting to other people in your industry or niche is a great way to stay up to date on your skills; connecting with potential clients and other business owners is the best way to get your name out.
Next Steps of the Side Hustle
The side hustle is great on its own, but it is a hustle. It can be tiring. Sometimes, the best part is turning that side hustle into a business, or taking a different next step.
Freelance to business owner
Many side-hustlers’ ultimate goal is to turn the hustle into a business. For some, this means leaving the work grind, and working from home full-time. For others, it means taking on new clients, expanding your services or product line, and hiring on employees. Depending on your line of business and your ultimate goals, you could go in any direction.
Contractor to full-time
Another path that some people take, is to move from working as a freelancer or contract employee, to working full time with a single client, or a similar company. This is a great option for those who enjoy their side hustle more than their current job, and are looking to pursue their passions.
Side hustle to retirement income
I’ve also seen many people turn a side hustle into a tidy retirement income, when that time comes. For those who have some savings, a pension, or are otherwise ready to step away from the day-to-day grind, it can be nice to have an active hobby that also brings in some extra cash.
If you’re looking for a change in your career, but aren’t prepared to risk changing your job completely, building your skills and network with a side hustle is a great opportunity. By building out your portfolio and resume, saving some extra money, and expanding your network of potential clients and employers, you can build a cushion for yourself that will make taking that next step in your career seem like a breeze.
If you’re looking for ways to take that next step in your career, get in touch today to schedule a free consultation! Let’s get moving in the right direction.