A side-hustle is an important way to ensure that your earnings never dry up
Job security is a thing of the past. That is no longer a prediction but a fact. I faced this crisis when I experienced my first retrenchment. The company I was then working with was a major supply chain contractor. Having lost a major contract, it was reducing 90% of its work force. Being a contractor, the company had the luxury of hiring and firing as and when needed. When I extrapolated this model to the politico, techno and economical environment that has been developing, I was sure, having a single job without cultivating a side-hustle is no longer a safe choice. We all have bills, loans to take care of, having no consistent income stream is more than a bummer. Also, extra money can be helpful in any situation.
A side-hustle is also the best way to get back into the work place or try out a new industry/job role.
While just picking up a gig that you deliver on is a good move, an increasingly complex world kinda necessitates that we work on things that we feel good about. It increases our engagement and shows in our work leading to better customer satisfaction. Unhappiness transfers through the work we do, it can be sensed and felt by clients. This shift to doing what you might enjoy, cannot happen overnight. It needs to be cultivated.
Malcolm Gladwell famously stated that it takes “10,000 hours to master something”. This adage has largely been accepted not because it is a fact but it just made common sense. Practice makes perfect no matter the space. This is also the reason why VCs love investing in second time founders because they have made their rookie mistakes. Getting to the crux of the argument, if you have no side hustle to call your own, that can generate revenue for you today or after the so called “retirement age”, then it is time to get started.
Options when it comes to using gig work as a side-hustle
What you don’t need:
- a perfectionist attitude – start small, start now, be ok to make mistakes
- belief that you need to win in round 1 – plan to keep going at it till round 30, if you keep failing, pick another gig or change it up
- an existing network or tech platform or anything else – find a solution no matter the problem, that is the single greatest skill a gig worker has
- need money – a handicap, always think to use less of it and creatively, to make more
- leverage – learn to build of tools, communities, friends as you build a reputation for delivering
Working in the corporate space, What you need is a support system or solution to help you keep your targets and your wits about you. Below are a few resources that can help you in your journey.
- “Fantastic Side Hustles to Earn Extra Money in India” by Udit Arora
- “101 BEST SIDE BUSINESS IDEAS TO START IN INDIA IN 2020“
Excellent books to read
- Side Hustle: Build a Side Business and Make Extra Money – Without Quitting Your Day Job by Chris Guillebeau
- The Mocha Manual to Turning Your Passion into Profit: How to Find and Grow Your Side Hustle in Any Economy Paperback by Kimberly Seals-Allers
Latom.in is an all in one software solution for freelancers, counsellors, therapists, barbers, salons, consultants, doctors or gig workers. It provides for calendar and booking management, Client Management (CRM), and a platform to build your own consulting/services marketplace. We offer a web and android based solution. To know more please book a demo here.