Joshua Mendoza
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What You Should Know Before You Start A Side Hustle

What You Should Know Before You Start A Side Hustle

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Joshua Mendoza
ยทSep 26, 2022ยท

3 min read

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Table of contents

  • The Numbers
  • What is a Side Hustle?
  • Goals
  • My Thoughts

Welcome to the first of this series: articles based on Side Hustles for dummies by Alan Simon. You can view this series as a read-along, a summarization, or a reference. I consider my work and time spent on this series as a way to acquire more knowledge and share and give back to any readers everything that I have learned. Ideally, I would like to use this knowledge practically with multiple side hustles.

The Numbers

When updated to the current year, the statistics for side hustles are roughly the same since 2020, still astounding, but at the same time, not surprising. Covid came and never left, so we have learned to live with it- pushing many to think outside the box.

According to Side Hustles and Side Hustle Nation:

  • 44% of working Americans had at least one side hustle
  • 60 more million Americans thought about having a side hustle
  • 54% of people in Singapore & United Kingdom have a side hustle
  • 70% of people in the Philippines had side hustles

So in many countries, more than half of the population has dabbled in the side hustle game.

What is a Side Hustle?

The straightforward definition of a Side Hustle is simply something that you do "on the side" of your primary full-time job. It can require some or most of your free time. In the beginning, as you are getting established, it can take some of your time and energy. Some examples would be:

  • Ridesharing
  • Food & Grocery Delivery
  • Tutoring and Teaching
  • Managing an online business

Goals

A side hustle does not always have to be about money; however, that is one of the main reasons people look to get into the side hustle game. It's a great way to have extra income and a full-time job.

But besides money, here are a few reasons why someone might look into maintaining a side hustle:

Extending knowledge and gaining experience

This is one of the main reasons I am looking into side hustles. It's such a great way to learn new skills while making money at the same time. Setting goals, small or big, with mandatory deadlines, can be the big push some people need to get more out of their careers.

Switching Careers

  • Some get jaded from their full-time jobs or not feeling as motivated to continue their daily routine at work.

  • Side hustles provide insight into a new possible way of life that allows one to be their own boss.

Hobby/Passion

  • Something you do regularly can be used to get income
  • whether its playing video games, collecting cards, hobbies and passions can be monetized if you work hard enough.

Cushion for the fall & Emergencies

Side hustles can provide extra needed cash if one is about to lose their job or is already jobless.

My Thoughts

The name of this series is a reflection of how I feel about side hustles. I believe that side hustles are a necessity no matter where you are in this journey that we call life. Through side hustles, we can find a passion, our next step, a means to provide for ourselves or our loved ones, and many other things. I dove into my first side hustle of gaining web development skills as a means of switching careers. But now, it feels like my passion and a hobby that allows me to be creative.

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