A Straightforward Look At Whether Or Not There’s Actually Any Value To Your Side Hustle
With one-third of Americans now claiming to have some kind of side hustle, it’s fair to say that we’re more inclined than ever to put our free time towards making a little extra money. Most often centered around our hobbies and personal loves, sidelines including blogs, social media accounts, and even online sales platforms can certainly provide us with projects to keep our evenings busy.
Yet, with more side hustle options currently existing than ever before, and with countless new opportunities arising every day, it can be difficult to determine whether your chosen side hustle truly provides you with enough value to make it worthwhile. To save you from wasting your time, we’re therefore going to consider once and for all whether your side hustle is as valuable as you’re hoping.
Does it provide you with a potential career?
If you’re piling large amounts of time and money into a side pursuit that you hope can ultimately develop into something more, then career prospects need to feature in your considerations here.
Luckily, even if a forthcoming career isn’t obvious from, say, your efforts on YouTube, building an audience and a reputation can still lead to new job offers, etc. Equally, skills-based side hustles like the in-depth trading offered by Metatrader 4, or even the selling of handmade goods, can all provide a depth of knowledge on which to build a sustainable business.
By comparison, something like selling used goods is unlikely to lead to a career that will ever truly get off the ground.
Do you make a decent hourly rate?
Regardless of your side hustle intentions, it’s also important to consider whether this pursuit is earning you a decent hourly rate.
After all, few of us would dedicate hours to work that barely earned enough to cover one hour of effort, yet this is a mistake we regularly make with side hustles. Of course, it’s not unusual to have to put in unpaid time before profits are possible, but it’s still important to make sure that you’re either working towards viable returns (e.g. building on your audience base) or that you’re enjoying decent returns right now.
If, however, you’ve been working on a side hustle for months and have hardly earned a week’s wages in that time, then it may be worth questioning either how you’re going about things or your choice of side hustle itself.
Do you take personal satisfaction?
All other questions aside, the fact that your side hustle is something you pursue solely in your free time means that you should also consider whether it provides personal satisfaction. This is important whether you’re developing a beauty blog or a brand new business enterprise, and is ultimately the thing that’s going to see you through, thus making it way more likely that you’ll stick around long enough to see returns here instead of giving up before the going gets good.
Ultimately, the worth of your side hustle is down to you, but these questions can at least help you make up your mind once and for all.
Until next time,
