THESE days everyone seems to have a side hustle. From driving for Uber to selling makeup for a network marketing company to getting paid on social media to post for brands. The side hustle is becoming more and more acceptable. Not only more acceptable but necessary.
With inflation and an economic slowdown more and more people are looking for ways to bring in additional cash. I guess I’ve always had a “side hustle”. When I was practicing law I sold a liquor infused popsicle. Today I have more companies than I care to count. Most of them are not very profitable. But, it is the one that is profitable that matters.
There is a school of thought that in order to be successful you need to go all in on one thing. You need to follow your passion. I fundamentally disagree with that business advice. I do think entrepreneurs like myself tend to take on too many things which can certainly lead to inaction.
However, saying yes to making some extra money on the weekends bartending or waitressing or taking on a side project can all lead to even more opportunities. I believe that saying yes to opportunities that come your way is the smartest way to approach business and life.
I would never have thought that the success of my books would turn into a very successful book marketing company. When I started my podcast The Alden Report eight years ago I didn’t have a plan of running a boutique podcast media agency that gets people booked on top podcasts. When I spoke at an event years ago I certainly didn’t anticipate my frustration with my existing business turning into a lifestyle brand spreading Wicked Happiness.
With the Great Resignation happening I would also like to give some more unsolicited advice. Advice that I believe will save you time, money and heartache. If your bills are getting paid by one job or career and you have a side hustle that you are most passionate about; don’t fall into the trap or fantasy of quitting your job and following your passion. That is something that is left for the movies in Hollywood.
Here is what I would do and have done. Keep your day job, work your side hustle until the side hustle has consistent sustainable income to support you and your family. It is not honorable to drop everything and go all in. Your life isn’t an episode of Shark Tank.
Keep working that side hustle until it becomes your main hustle.
Michael Alden, a graduate of Suffolk Law School and a three-time Wall Street Journal and USA Today Best Seller, is from Beverly, MA. He has contributed to Forbes, Huffington Post, CNBC and, Entrepreneur, and was awarded Boston’s 40 Under 40 Award. To learn more about Michael Alden, visit here. You can also find him on Facebook, Twitter, Instagram and Snapchat @MikeAlden2012