{"id":2387,"date":"2019-04-09T11:26:14","date_gmt":"2019-04-09T09:26:14","guid":{"rendered":"https:\/\/rocketpad.co.za\/matoyana\/?p=2387"},"modified":"2019-04-09T11:26:14","modified_gmt":"2019-04-09T09:26:14","slug":"ready-side-hustle","status":"publish","type":"post","link":"https:\/\/rocketpad.co.za\/matoyana\/ready-side-hustle\/","title":{"rendered":"Are You Ready for a Side Hustle?"},"content":{"rendered":"

Having a side hustle means being an entrepreneur at the same time as doing your regular job. Almost 40% of Americans<\/a> have a business on the side, earning an extra US$686 on average per month, while stats show 40% of UK workers<\/a> also have a side hustle with figures set to rise to nearly 50% of the adult population by 2030 as the trend escalates. \u00a0In South Africa, according to Moneyweb<\/a>, one in three people has a job on the side to supplement their monthly income.<\/p>\n

As we move towards 2020 our environment, what matters to us and the way we work is changing rapidly\u00a0 – the question is – are you ready for a side hustle?<\/p>\n

1. The Passion of a Millennial Mindset<\/strong><\/p>\n

\u201cBusinesses need to identify ways in which they can positively impact the communities they work in and focus on issues like diversity, inclusion and flexibility.\u201d Punit Renjen, the CEO of Deloitte Global<\/strong><\/p>\n

The idea of following your passion instead of profit is one of the reasons many people are starting their own side hustle and putting their focus into doing something that speaks to their soul.<\/p>\n

The current generation in the workplace and those to follow are less likely to stay in jobs on a permanent basis. Deloitte surveyed<\/a> 10,455 millennials (people born between 1983 and December 1994) from 36 countries and the findings showed 43% of millennials plan to leave their current jobs within two years and only 28% have plans to stay longer than five years.<\/p>\n

The survey also showed that millennials prefer to work for a company which improves society but 51% believe 51% believe the number one priority for their business is \u201cgenerating profits\u201d.\u00a0 Think about creating a side hustle if you don\u2019t see yourself in your current job in the next few years.<\/p>\n

2. The Unstable Economy <\/strong><\/p>\n

\u201cThe only kind of positive side effect of the recession is people being resourceful or being forced out of the job market and pursuing their dreams,\u201d says Tracy DiNunzio, founder of clothing resale site Tradesy<\/strong><\/p>\n

Having a side hustle in an unstable economy is recommended as a back-up for anyone with a nine to five job.\u00a0 On the positive economic side, Africa has seen growth at a seven year high<\/a>, but unfortunately, not in South Africa where the Bloomberg<\/a> reports South Africa\u2019s economic expansion will be low at 1.7% as we \u201cbattle to recover from last year\u2019s recession\u201d.\u00a0 The future feels uncertain, which is usually the case in an election year. But if you\u2019re thinking about getting your side hustle on \u2013 now would be a good time to do it.<\/p>\n

3. Investing in Yourself <\/strong><\/p>\n

“[A side hustle] is not just about avoiding or overcoming economic uncertainty, it’s about creating something for yourself and having ownership over that, and that’s a wonderful thing,” Chris Guillebeau, entrepreneur and author of \u2018<\/strong>Side Hustle: From Idea to Income in 27 Days\u2019<\/strong><\/a>.<\/strong><\/p>\n

The idea of investing in yourself has become so mainstream that last year Standard Bank introduced the My Fearless Next<\/a> Campaign, taking inspirational side hustlers through a bootcamp, with the winner receiving a salary of up to R1 million for a year.<\/p>\n

The point being that although \u201cinvesting in yourself\u201d sounds like a solitary road (and often is), there are great books, online courses and funding opportunities out there. Big business is taking notice of small entrepreneurs or side hustles \u2013 particularly those with an environmental \/ sustainability angle. Watch out Matoyana Facebook page<\/a> for opportunities which we share.<\/p>\n

4. The Genie\u2019s Out of the Bottle<\/strong><\/p>\n

\u00a0\u201cThe genie is let out of the bottle. Those who are underwhelmed and under-financed by their work, but have the appetite, if not the confidence, to go it all alone as an entrepreneur, will not let the chance slip.\u201d Professor Bernd Vogel of the Henley Business School<\/strong><\/p>\n

While a side hustle is hard, probably very hard at first, once you get a taste for having an independent venture of your own, it is hard to go back to just being an employee \u2013 even if your first side hustle is not a success. \u00a0Ask yourself if you are really interested in doing \u201cjust one thing\u201d for the rest of your life, or if you can see a career \u201cpivot\u201d as something in your future? If you can then the side hustle is a starting point is for you.<\/p>\n

5. Lifelong Learning <\/strong><\/p>\n

\u201cWe now accept the fact that learning is a lifelong process of keeping abreast of change.\u201d Peter Drucker <\/strong><\/p>\n

According to the World Economic Forum, up to 65% of students<\/a> in junior school will potentially end up doing jobs which currently don\u2019t even exist. That statistic alone should give one pause to consider starting a side hustle. Starting your own small business will motivate you to keep up to date with how to remain visible in marketplace while encouraging you to up skill and keep abreast with technology.<\/p>\n

Side Hustle Ideas<\/strong><\/p>\n

\u201cSide hustling potentially represents an economic revolution in South Africa. It enables everyone who can access the internet to capitalise on their earning potential without also requiring access to a vast amount of capital. In the tough times that lie ahead, few of us can afford not be on the side hustle. \u201d Claire Cobbledick, Gumtree South Africa<\/strong><\/p>\n

Your side hustle should be aligned with something you care about as well as an honest reflection of how much time and budget you can realistically contribute to it. Some successful side hustle ideas include:<\/p>\n