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So what exactly is a side hustle? Well, essentially this is a venture that your pursue on the side of your regular 9-5 job. It goes by many names…side venture, side hustle, passion project, but they all essentially mean the same thing. Whether or not it is your intention to transition from your full time job into following your side hustle full time, or just to use it as a creative outlet, I think side hustles are a vital part of the economy, as it allows people to pursue passions that may lay outside of their main source of income.
The truth is, more than 44 million Americans have a side hustle, a majority of these are women, and 1 in 2… that’s right 50%! of millennials are pursuing the side hustle. I’d have to argue that it is mostly because many young people find themselves wrought with student loans and are looking for extra income streams to supplement their lifestyle. What do you think?!
Are you one of the lucky entrepreneurial minded people with a side hustle? Is it your intention to transition into it being your main source of income and becoming a FULL TIME entrepreneur? I hope so! My firm belief, and my entire program, is based around the fact that EVERYONE deserves to build a life around the things they love, and their passions, so they can wake up every morning EXCITED to go to work, because the work we do is SO VITAL.
But what many people don’t realize is there are actually MANY hidden things that need to be done in order to pursue starting a business, that many people may not realize if they didn’t go to business school. On a high level, these things relate to taxes, becoming a legal entity, financial management, compliance, and regulation. Fun right?! WRONG! It can often be overwhelming to begin to think of these things, especially the first time you hear that they are things that NEED to be done.
The phenomenon of the ‘microentrepreneur’, who is working on transitioning a side hustles into full time business is a hugely growing concept. And my call to you is, if this is the avenue you’re wanting to take…DO YOUR RESEARCH! Do you research, learn what you can, and if need be, learn when and how you need to reach out for help in a particular area. Start with your immediate network. Do you have friends or family who can help advise you on this? Start there before you decide to lay down some capital on outsourcing these services. Luckily, there are many resources throughout the COUNTRY for emerging entrepreneurs.
Ready to leave the 9-5 world to pursue entrepreneurship and live for your passion? I have a FOUNDATION TO SUCCESS program that will prep you for success in this transition, by focusing on yourself as the entrepreneurial individual by leveraging the phrase…GET READY TO STAY READY.