Technology and the gig economy have enabled people to find work outside of their full-time jobs. Work done outside of a full-time position is sometimes called a side hustle. A side hustle can be an effective way to spend your free time and it can do more than just put a few extra dollars in your pocket. Taking on this extra work can help develop your skills and build your personal brand – and if it takes off, your side hustle can transform into your new full-time work. You can also turn your free time into money and get experience in a new or in a familiar field.
One of the primary benefits of having a side hustle is, of course, having a new source of income. This income can be used to help you out with whatever you need – maybe it’s for savings, to pay bills, or to spend more freely. It’s clear now that gig work can be a great way to make extra money with 40% of gig workers earning $100,000 or more per year. To start making money, you need to determine what type of work work best fits your skills and availability. Once you figure out what you want your side hustle to be, finding a website that allows you to do that type of work makes it easy to start making extra cash.
Freedom to work on your own terms
The best part about a side hustle, either when you’ve established yourself as a freelancer or found gig work through an app, is the freedom to work whenever you want to. This flexibility makes gaining cash on the side a lot more feasible for those with other jobs and commitments. It’s also part of why more than a quarter of workers participate in the gig economy. Once you find a reliable side hustle, the power is in your hands to get to work when you have time or need money and take off as much time as you want to.
Side hustles are a great opportunity to gain more experience and new skills. Some of the skills you’ll refine right away are time management and communication skills. Having solid time management skills is vital to successfully maintaining a full-time job and work on the side. You’ll need to determine how much time you can put into your side hustle without it affecting your work and without burning yourself out, while still earning enough to make it worthwhile. You can also develop strong communication skills because someone will be relying on you for your work. That might mean that you’ll need to chat back and forth about a project’s requirements, or maybe you’ll be contracted by a business and will need to work with a small team. Or, in some cases, maybe you’ll be in the same car as your customer! To be successful with a side hustle, you’ll need strong time management and communication skills which can help you in any other job you take on.
If you find work as a freelancer in a field of interest, you can begin developing skills and will be able to work towards a career in that field, either at a business or as a full-time freelancer. Many freelancers use their side hustle as an opportunity to build their portfolio. In a case where you turn your hobby into a job by selling your products or services, you’ll gain a greater entrepreneurial ability and better business sense. In both cases, you’re still able to maintain financial stability while learning something new. Full-time work can act as a financial backup while you can work towards something you’re passionate about.
Networking and branding
You interact with a lot of new people when you take on a freelance or gig job. As a freelancer, you’ll work on a wide spread of projects with any number of individuals or businesses. Gig jobs will put you in touch with hundreds of people, and depending on the type of gig work you take on, you might find yourself in hundreds of different scenarios doing different types of work. In either case, you’ll have the opportunity to get your name out there. This also helps you get more recognition for your side hustle, and more people will come to you once you’ve established yourself.
If you do it right, a side hustle will help you develop your skills, put you in touch with more people, give you the freedom to work when you want. Not to mention, your side hustle will allow you to earn enough to pay your bills and then some. There are some excellent options for freelance and gig work available now where you can find the work that interests you most. If you have a smartphone or computer, now is the best time to start your side hustle.