Living a soft life is a top priority on almost everyone’s list, and we know better than relying on one source of income. Having a side hustle provides the extra income needed to live the life we desire and hastens our journey to financial freedom.
However, running a side hustle is more challenging than it sounds, especially when you spend most of your time at a 9-5 plus the extras courtesy of the hullabaloo of traffic.
In this article, we will highlight some reasons you should consider starting a side hustle and tips to help you find the right balance between your side hustle and your full-time job.
Why should you start a side hustle in Nigeria?
In a world filled with financial uncertainties, there are many reasons why you should consider starting a side business. Some of them include;
1. Maintaining your standard of living over time.
Have you ever wondered why even with the rising costs of necessities, salaries are not increasing?
Many people can relate to this dilemma, and as a result, we live below standard mainly due to economic factors. If we do not stay on top of our game by starting something to bring in extra income, there’s every tendency that we might get stuck financially.
2. If you’re interested in building something of your own
Let’s face it: not everyone wants to work for an organization for the rest of their life, and if you’re that person, it’s alright.
While you need your 9-5 to afford necessities, starting a side business at your full-time job is a great way to build something of your own. Over time, your side hustle may pay even more than your full-time job.
3. Backup Plan for layoffs
It’s no news that there have been massive layoffs, especially within the tech sector. So far in 2023, enormous employment losses at American technology companies have terminated more than 139,690 employees, according to Crunch Base. Therefore, you’re building a safety cushion for workplace uncertainties by starting a side hustle.
Now that you know why starting a side business is needed, you can check out this article on side hustle options that you can start immediately.
5 Proven Strategies for Excelling at Your Side Hustle While Balancing Your Day Job
Starting a side hustle can be difficult, particularly if your full-time job is demanding. Luckily, we will provide some helpful tips to assist you in this endeavour.
1. Choose something you’re passionate about
Even though making money is top of mind when choosing a side hustle, selecting one that revolves around things you love is essential. Since it would take a lot of extra time, you’d be more than willing to sacrifice your comfort for something you enjoy. More importantly, ensure you choose something flexible that you can do anywhere and anytime.
2. Know your why
Starting a side hustle is a challenging feat. But understanding why you started in the first place would help you get through tough times. So when things are not working out the day you want, don’t hesitate to step back and remind yourself why you started in the first place. Whether money or a long-term business, it’s worthwhile and can steer you in the right direction.
3. Time management
Effective time management is crucial to performing effectively at your daytime and side hustle jobs. Since the goal is to maintain your 9-5, you should take out time to separate your working hours. Once you’ve done that, realistically set out the time you can devote to your side business and be consistent. In doing this, you should adjust your usual schedule. For instance, use the time you spend on the bus going to work and returning or your lunch hours.
4. Practice scheduling
Since you typically take on more work than you’re used to, it’s easier to lose track of everything you have to do. Have a journal and bullet point out what you must do with assigned timelines. While at it, you must leave time out to rest and do other things you enjoy. Maintaining a healthy work-life balance can help prevent burnout.
5. Learn to delegate
Do not for once think you can do everything by yourself if you intend to perform optimally; otherwise, you’d end up feeling burnt out. Additionally, chances are you’re not good at everything, so instead of winging it, consider delegating tasks that you’re not so good at so you can focus on things you’re good at. However, it is essential that you work within your budget while at it.
Being successful at your side hustle is rewarding, but its attainment, especially with a full-time job, is not a walk in the park. But understanding your why and taking active steps to implement the tips in this article can help you stay on top of your game. Till we meet again