The flexibility of entrepreneurship
Side hustle will be a new way of living in the post pandemic world. As we come out of the current pandemic, it will be difficult to be return to where we were. Many jobs have been lost to the point where we need to rethink the way we work and live. So be flexible about what you do in the future.
One step at a time
Entrepreneurship is not about flying in with all guns blazing. I have been a side hustler for most of my adult life. As an undergraduate, I was a tutor and had a poultry. After university, I had a fashion design business. The list goes on, you may be aware that I had a night club and pub whilst working full time at HP.
Side-hustle is great fun, especially when you have a job that you enjoy and your side hustle may not at first point pay your bills. With the rate of business success as low as 20% after 5 years, it is better to slowly ease into things. There are several reasons that entrepreneurs fail, some due to lack of capital, others due to the inability of the business to pay the owners well. Majority of entrepreneurs earn less than they are worth if they are in employment. Research shows that some entrepreneurs earn 25% less than if they in full time employment. There is nothing wrong in earning less, it may be a worthwhile trade off for working for others. But why do you need to drop your living standard to pursue your dream? Why not just have fun and enjoy the journey.
Work Part time
I know of people who work 3 days a week and spend the rest of the time working on their side hustle until it picks up. It means they can pay their bills, raise a bit of capital as they get better at their craft. Yes of course Entrepreneurship is about taking risk, ‘burn the boat behind you if you want to take the island’, of course, it’s easier for the experts to say that, they are not the ones facing an unhappy partner or hungry children. There is room for the cautious and matured side hustlers. You don’t have to do what everyone is doing, take your time and enjoy the experience.
Thanks to technology, you can be online and shuffle between roles, work late and have the best time of your life. Define what success is to you and keep pursuing that dream.
Do it your way
Here is an example, you are an abstract artist or a piano teacher or a voice coach, a writer, blogger, YouTuber etc. You get the gist. These roles can be combined with a full or part time role as you develop your trade. It may take a couple of years or even longer for the business to pick up. There is no need to starve or live in poverty whilst building your business. So why not have both and continue to experiment until you find the perfect mix that works for you.
When you are at your paid employment, give 100% as you look forward to your side hustle eagerly. I remember that scenario when I had the night club. Friday evenings were the start of my party times, the weekends flew by and by Sunday evenings, I had partied, ran my business and enjoyed the spoils of my hard work. Week days were my ‘get back’ to reality days. In my case, I didn’t want to party for 7 days, that would not have worked, but I can imagine others would love that. I love varieties or I would have been bored.
Do things on your own terms
Side-hustling suits people like me, but its not everyone. Side hustle is really about fun. Life has to be a fun experience.
I love teaching and training, but do I really want to teach or training all the time? No. I prefer to do other things as well, such as writing, making videos, reading and generally having fun.
Build wealth whilst having fun. Life is too short not to have fun.
What do you think? Try https://www.enterprisedoctors.com/be-a-badass-entrepreneur-passion-may-not-be-enough/
You may be interested in https://www.enterprisedoctors.com/there-is-no-point-in-small-dreams/