It seems like everyone has at least one “side hustle” these days as a second (or third) way of making a little extra money. It makes a lot of sense. Who wants to solely rely on an employer for the security of being able to pay the rent or mortgage, feed your family and make sure that you have enough set aside for emergencies. Side hustles can take a myriad of forms. You might try a direct sales business. There are scores from which to choose, with merchandise that ranges from cosmetics to candles to clothing. Or, you might be the creative type and sell artwork, jewelry or craft items. A side hustle can also be a resale business, such as scouring garage and estate sales to find items to auction on eBay and other online marketplaces.
However, the danger with a side hustle is that it has the potential to draw your energy, time and other resources away from your primary source of income. As fun and exciting as your side hustle may be, you don’t want to risk losing your “real” job, at least until you’ve built your side hustle so that it’s lucrative enough to take your job’s place. Until then, the key is balancing your side hustle with your job and other life responsibilities.
Ways to balance your side hustle with the rest of your life:
1. Hire help. It may seem counter-intuitive to hire housekeeping or child care help so that you can pursue your side hustle. However, if you’re making more at the gig than you are paying for help, then it should be a no-brainer to outsource these services.
2. Set boundaries and schedules. Without a schedule, it’s easy to let your side hustle consume more time and energy than it should based on the money it’s generating. It’s better to keep a diary or planner with blocks of time allotted for your side hustle. Equally, it’s important to make sure that your family and friends realize that your side hustle is really a job and not a hobby and that they shouldn’t interrupt you while you’re working it, except in emergencies.
3. Take care of yourself. You’ll have more energy and be able to function more efficiently if you eat properly and exercise regularly. If you think that you don’t have time to live a healthy lifestyle, it’s time to re-examine your priorities.
4. Use extra time efficiently. Another key to being successful with balancing your side hustle is using little bits of extra time, like Sunday mornings and that extra half-hour in the mornings or evenings, to your best advantage. Don’t dismiss such snippets of time as too short to be productive and suitable only for such time-wasters as scrolling Facebook or watching YouTube videos.
Developing one or more side hustles can be a great way to build your self-confidence as well as your income while giving you and your family the security that comes from not being solely dependent on one employer. To successfully balance these side hustles, consider hiring help for household chores and child care, make sure to set aside blocks of time for your side hustle, and use your extra time efficiently and effectively.
If you have been thinking about starting a side business, don’t miss our FREE WEBINAR Working a Side Hustle for Better Job Security, Extra Income & Creative Freedom. Whether you have no idea where to start or you’re well in the trenches of growing your side hustle, this webinar will give you actionable tips on how to start, build and scale a monetizing side project.