How to kickstart your side hustle and why it’s a smart move

By Busola Bamidele

Starting a side hustle is more than just a smart move it’s becoming a widespread trend across all generations. With numerous benefits ranging from boosted self-esteem to skill enhancement, a side hustle can be a game-changer in today’s economic landscape.

Why Side Hustles Are On the Rise

Gen Z leads the charge in side hustles, but individuals from all generations are getting in on the action. According to Bankrate, 48% of Gen Z, 44% of Millennials, 33% of Gen X, and 23% of Boomers are now involved in side ventures. The recent uptick in side hustles correlates with the current economic uncertainty, waning corporate loyalty, and the digital tools that connect buyers and sellers.

Most people are starting their side gigs in recent years, with Gen Zs typically launching theirs within the last year or two. On average, side hustlers earn about $891 monthly, making this an opportune time to start or expand your venture.

Criteria for a Successful Side Hustle

To ensure your side hustle thrives, consider the following criteria:

1. Passion-Driven Ventures

Choose a side hustle that genuinely excites you. If you’re only motivated by money, you may find the extra work draining. Instead, select something that aligns with your interests. Whether it’s dog walking or environmental advocacy, doing what you love will keep you engaged and motivated.

2. Time Management

Your side hustle should fit seamlessly with your existing job. Opt for activities that match your available time and flexibility. For instance, if you have a tight schedule, consider a venture like car detailing where you can set your own hours.

3. Leverage Market Knowledge

Utilize your existing expertise or passion for a specific market. If you understand senior care needs or local hot spots, tailor your side hustle to these areas. This insider knowledge can give you a competitive edge and enhance your success.

4. Scalability

Think about whether your side hustle has the potential to grow. If you see an opportunity to expand from part-time to full-time, such as coaching or consulting, this could provide a path to greater success and fulfilment.

5. Maintain Integrity

Ensure your side hustle doesn’t conflict with your primary job. Avoid activities that could jeopardize your performance, create conflicts of interest, or misuse company resources. Being transparent with your employer about your side hustle can help maintain a trusting work relationship.

Embracing Flexibility

One of the greatest advantages of a side hustle is its flexibility. If your interests or circumstances change, you can easily adjust or even pause your side project. Whether it’s jewellery making or tutoring, you can modify your involvement based on your current needs and priorities.

Seize the Opportunity

Now is an excellent time to start a side hustle. With countless possibilities such as tech support, car detailing, vacation planning, and more, you can choose an endeavor that aligns with your passions and strengths. By being curious, committed, and adaptable, you can enjoy the myriad rewards a side hustle offers, from extra income to personal growth.