A side hustle is often considered passion projects. They’re fun and interesting little distractions that can often be considered hobbies. However, there’s a big difference that changes the way you approach a side hustle; it actually makes you money! This is arguably the biggest distinction between a side hustle and a hobby, and it’s one that has huge significance in the way you manage it.
A lot of people use their side hustles for a bit of extra income, but there might come a point where you decide that your side hustle is more interesting and fulfilling than your day job, even if it earns considerably less. So to help you out, we’ve listed some of the pros and cons of taking your side hustle more seriously.
Pro: Your side hustle is something you’re passionate about
There are countless side hustle ideas that you could be passionate about. Since you’re more interested in the topic, you’ll take more interest in smaller details and your love for your work will show in the services and products you offer.
Con: But it doesn’t make as much money
Unfortunately, you’re not going to make as much money as your regular day job. Even if you put in more work and passion into each day, it doesn’t guarantee that you’ll make nearly as much as a standard salary.
Pro: Your side hustle could grow into a fully-fledged business
Giving up your day job for a side hustle usually means turning it into a fully-fledged business. This gives you more access to financial options, it means you can recruit more employees and it also means growing your own brand.
Con: You’ll need to start from scratch
But you do need to start from scratch as a new business. You’ll need to network with people, market your brand every day and slowly build up your presence as a reputable business in a competitive world.
Pro: Your side hustle can motivate you to learn more to become successful
A side hustle can usually lead to courses and studies that will help you become more successful. For instance, you might look at Insurance Schools Inc reviews to learn more about qualifications that could help you with an insurance career. Alternatively, you could also learn more creative skills to grow your business as a designer. There are lots of educational opportunities out there when you take your side hustle more seriously.
Con: There’s less time for self-care
However, do keep in mind that with all these studies and balancing your existing day job, you’re going to have a lot less time to care for yourself. This can quickly spiral out of control if you’re not careful.
Pro: You could make a real difference with something you’re passionate about
If you’re passionate about something and have support with money, employees and motivation, then you can truly make a difference in the world.
Con: Turning something you love into a job could be stressful
Not everyone wants to turn their passion into a job, so be cautious when you think about taking your side hustle more seriously because you’ll need to take client relationships seriously and ensure that their needs are met which can be quite demanding.
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