We are nearing the end of another year as I write this. It's the time when people start making their new resolutions and thinking back on where they've come in the past year. However, the idea of having a side income can apply at any time of year.
Here are 7 good reasons for having a side career or business:
To provide a new income stream
As the cost of living rises and wages remain basically static, having another side income can help you reach your financial goals. Perhaps you'd like to bolster your savings account, or replace that almost worn out car, or have something for the kids' college education. Whatever you're reason, having that side income can help.
To insure against layoffs, downsizing or other employment emergencies at your primary work.
Companies fail or their goals may change, resulting in lost jobs. Having something to do and money to potentially make outside your employment can soften the hardship that may happen if something outside your control should occur.
To help you develop a new passion
Throughout our lives, we are continually growing and changing. Perhaps you were ok with being an accountant right out of school, however as the years roll by, you discovered you have a talent for fixing lawnmowers and small engines. Taking time around your work hours to develop other interests could lead to a way to hone a new skill and also add a new income stream.
To move you out of your safe zone
Your safe zone is where you feel comfortable in your daily routine. To learn and grow, most people find they need to make changes that take you out of that safe feeling. For instance, you may have a good paying executive position, yet always wanted to explore your hobby in travel photography. You may feel doing artistic work just wouldn't replace your current income enough to do full time, plus the idea of flying to far flung places scares you. Perhaps giving yourself photo assignments on weekends at an out of town place that interests you, and then, by submitting your photos to a travel publication, you will open the door to taking more risks and gain more confidence in your new endeavor.
To meet more people
There's nothing quite like the feeling of meeting others who share your interests. Having a side gig will draw more like minded people to you. You'll have more interesting conversations and perhaps even discover a whole new niche of people looking for what you have to offer, personally and in your new business.
To guard against discrimination if you are over 50
For those over 50, age discrimination, while technically not legal, is still alive and well in the US. Notwithstanding that younger people can have health risks also, and older workers are taking better care of their health than previous generations, many employers view them as expensive from a payroll or a health insurance standpoint. Older workers who have been laid off have a more difficult time being rehired due to many unfounded misconceptions about senior workers.
While you are in good health is an excellent time to pursue your side gig, just in case your employer does subtly begin to phase out their older staff.
Perhaps you have experienced a health issue (at any age) that may make doing your current job more difficult. For instance, if you do heavy lifting at your work and have a back problem that is affecting your daily living, having a side gig doing something else that doesn't require such extensive physical demands could lead to your new side business and a new career.
To have a better understanding of how the business world works, and move from thinking like an employee to thinking like an employer
Discovering this shift in perspective can actually help you in your current career. You'll be able to see the bigger picture for your industry, and perhaps lead to advancement in your primary career.
If you want to, that is--for many, having that taste of "being your own boss" is just the impetus they need to jump in full time--doing something they're totally passionate about and engaged in. Whatever your reasons, having that side gig is a great way to build an extra--or eventually primary- income and to take control and design your life the way you'd like it to be!
Does all this talk of side gigs bring up fears? Explore solutions by reading HERE
To your abundance with love,
We are nearing the end of another year as I write this. It's the time when people start making their new resolutions and thinking back on where they've come in the past year. However, the idea of having a side income can apply at any time of year.
Here are 7 good reasons for having a side career or business:
To provide a new income stream
As the cost of living rises and wages remain basically static, having another side income can help you reach your financial goals. Perhaps you'd like to bolster your savings account, or replace that almost worn out car, or have something for the kids' college education. Whatever you're reason, having that side income can help.
To insure against layoffs, downsizing or other employment emergencies at your primary work.
Companies fail or their goals may change, resulting in lost jobs. Having something to do and money to potentially make outside your employment can soften the hardship that may happen if something outside your control should occur.
To help you develop a new passion
Throughout our lives, we are continually growing and changing. Perhaps you were ok with being an accountant right out of school, however as the years roll by, you discovered you have a talent for fixing lawnmowers and small engines. Taking time around your work hours to develop other interests could lead to a way to hone a new skill and also add a new income stream.
To move you out of your safe zone
Your safe zone is where you feel comfortable in your daily routine. To learn and grow, most people find they need to make changes that take you out of that safe feeling. For instance, you may have a good paying executive position, yet always wanted to explore your hobby in travel photography. You may feel doing artistic work just wouldn't replace your current income enough to do full time, plus the idea of flying to far flung places scares you. Perhaps giving yourself photo assignments on weekends at an out of town place that interests you, and then, by submitting your photos to a travel publication, you will open the door to taking more risks and gain more confidence in your new endeavor.
To meet more people
There's nothing quite like the feeling of meeting others who share your interests. Having a side gig will draw more like minded people to you. You'll have more interesting conversations and perhaps even discover a whole new niche of people looking for what you have to offer, personally and in your new business.
To guard against discrimination if you are over 50
For those over 50, age discrimination, while technically not legal, is still alive and well in the US. Notwithstanding that younger people can have health risks also, and older workers are taking better care of their health than previous generations, many employers view them as expensive from a payroll or a health insurance standpoint. Older workers who have been laid off have a more difficult time being rehired due to many unfounded misconceptions about senior workers.
While you are in good health is an excellent time to pursue your side gig, just in case your employer does subtly begin to phase out their older staff.
Perhaps you have experienced a health issue (at any age) that may make doing your current job more difficult. For instance, if you do heavy lifting at your work and have a back problem that is affecting your daily living, having a side gig doing something else that doesn't require such extensive physical demands could lead to your new side business and a new career.
To have a better understanding of how the business world works, and move from thinking like an employee to thinking like an employer
Discovering this shift in perspective can actually help you in your current career. You'll be able to see the bigger picture for your industry, and perhaps lead to advancement in your primary career.
If you want to, that is--for many, having that taste of "being your own boss" is just the impetus they need to jump in full time--doing something they're totally passionate about and engaged in. Whatever your reasons, having that side gig is a great way to build an extra--or eventually primary- income and to take control and design your life the way you'd like it to be!
To your abundance with love, Suzanne
