Picking up a side gig has never been as easy as it is today. The Internet has provided us with a vast landscape where we have the potential to reach billions of users and gig economy platforms have enabled freelancers everywhere to sell their time and talent. Having a side gig is a great way to secure some extra income and hone in on the special skills that you have, but with that said, there are a few things you should consider before diving headfirst into the world of the side hustle. Here are the three quintessential questions you should ask yourself before starting a side gig.
1. Does your schedule allow for a side hustle?
Time is the one commodity you can’t buy more of, and side hustlers have the same 24 hours in a day as everyone else. As a side hustler, you have to find the time to juggle both your full-time position and your side gig, which can sometimes mean double the amount schedules to keep track of and double the number of responsibilities.
If you’re thinking about picking up a side gig, you need to consider whether or not your current position will allow for that. Jobs that have predictable schedules and don’t require late nights at the office are ideal for this kind of lifestyle.
2. Are you willing to commit?
Setting your mind to starting a side hustle is one thing, but committing to doing it is something else entirely. You need to determine whether your passion for your side project is strong enough that you’ll stick with it even when you’re feeling burnt out.
A good rule of thumb to follow when you’re trying to make that determination is whether or not the field you’re going into makes you feel energized and excited. You can’t find success when you’re not enthusiastic, and if you’re thinking of starting a side hustle to make some extra moolah, chances are it won’t work out.
3. What are your long-term goals?
No one starts a side hustle purely for the fun of it – there is a bigger goal that every side hustler is working toward, and you need to consider your future plans before you commit to this endeavour. Are you picking up a side gig because you are keen on a career change or is this a stepping stone to something bigger, like a full-blown business?
You should also think about when you’d ideally want to make your side gig your main gig, and come up with a financial plan that can support this transition. It’s much easier to motivate yourself to work those extra hours when you have an end goal in mind!
A side hustle is a big commitment, and it takes a lot of work, but you know what they say – nothing worth having comes easy. If you’re genuinely passionate about your side gig the payoff will be well worth the extra work. At Project Spaces, we love nothing more than supporting risk-takers and seeing their passion projects come to life. Our coworking spaces in Toronto are places where side hustles are seen through to their full potential by business-savvy superstars. Book a tour of our spaces today and give your hustle a home!