There are so many different challenges that come with having a side hustle and taking that desire for impact and taking it to the next level. Some of them might be more predictable than others. For example, some entrepreneurs might not have enough liquid cash to fund a new venture, while others might lack the time or connections needed to get a side hustle off the ground.
Here are three avoidable surprises that derail those thinking about a side hustle or already have a side hustle. While there might be issues regarding timing or funding, some of these can be addressed so that you can continue pursuing your passions.
The Enough or Not Enough Time Factor
True fact that there are only so many hours in a day and everyone has the same amount of hours in the day. The perceptions of time and how you treat is is paramount to how you use time for other activities. You might simply have too many commitments or ideas to pursue a side hustle. You may have a 9-to-5, and between family and social life, there might not be enough time to brainstorm and execute your vision.
There also has to be time to relax, and that might not be possible if you are also trying to earn extra income on the side. This could take a toll on your mental health and your relationships.
This is quite natural in the ordinary sense but when you want a side hustle you must treat time differently. Most people treat time as if there’s not enough, and it’s one reason why many people don’t have the time to pursue things outside of their personal and professional life. One of the ways that you can combat this is work with the concept that you have enough time to do what you desire, set some boundaries on your ordinary time, and allow yourself to be willing to take small steps toward your goal. Learn to find the right resources and choose wisely to use those until you make your first sale. In this situation, you may some delegate some minor tasks and roles and pay others to complete tasks that make operations more efficient.
Potential and Looking Outside of Comfort
Some entrepreneurs simply love being busy, and they may have four or five different companies where they are continually working on “big picture” ideas. However, many people have one job that pays them enough to make sure they are financially secure.
It’s important to remember that leaving that first job could end up being a grave mistake. A salaried job means that you are guaranteed a certain amount of work for a certain amount of money. Entrepreneurship doesn’t work that way, and that’s why it isn’t for everyone.
A side hustle could mean months of financial stability as you try to “make things work”, and there’s not even a guarantee that your new company or venture will take off. If you have a serious fear of financial instability, it might be best to stay away from pursuing anything right now. This is even more relevant if you are supporting a family, as well.
Identity and Perception
First ask yourself if you’re ready for a side hustle. Next ask yourself if you’re willing to do what it takes. Then ask yourself if you’re willing to be more uncomfortable than you’ve ever been but that’s the most difficult yet rewarding part.
You may think that you are ready for a side hustle, only to find that it doesn’t fit your personality or your future the way that you thought it did. Let’s say that you decide to become a driver for a ridesharing company but realize that you don’t enjoy driving people around after a while. It might simply be much different than you imagined.
Know that the traditional sense of career must evolve so that you can have and allow yourself to “have” more than you might have imagined.
I have some amazing tools to help you find your way through the maze, no matter what part of your journey your on (start-up, already started, stuck somewhere in the journey, etc.) check out some of our links.
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