2020 Side Hustle, Magic! Just don’t bite the hand that pays you!

Side Hustle

Side Hustle, Perfect! Just don't bite the hand that pays you!

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Give 100% to your work while hustling

While you’re forging your own track to Financial Independence make sure you pay due respect to the key partners and relationships along the way. Especially the organisations that pay you your salary.

Recently someone spoke to me about whether they thought the side hustle movement was a great idea or not… 

Totally YES! That’s what I said at the time, because I’m a massive side hustle enthusiast and advocate. 

But, after pondering on it some more, I decided to clarify my thoughts and that prompted me to write this post, to share those thoughts.

Who wins from the following scenarios:
  1. The person who is focused entirely on their main job, who puts in extra hours, focus and energy?
  2. The person who is dividing their attention, focus and energy between their main day job and their “side-hustle(s)”, i.e. a side business or second job; or
  3. The person who leaves (quits) their main job and then puts all their energy and focus into their noble mission, i.e. a start-up business or practice?

Any of them, who knows!

The real issue, is inside the whole cultural movement of the side-hustle. 

We all have a finite amount of energy. 

So there there is a natural tight rope you have to walk.  One one side the energy invested into your side hustle. 

On the other side the energy you put into the professional obligation you have to your current employer. 

That is, the one that brings the majority of your current income.

I believe many people are using their time at work to run their businesses. 

They are so tired from putting energy into their side-gigs that their effectiveness at their primary profession is significantly lessened.

This is absolutely the wrong approach! And quite possibly, could get you sacked and or lead many people astray and into financial strife.

5 issues to avoid with the side hustle:

Specifically, these are some of the issues I see occurring in the side-hustle movement.

1) Do not steal from the hand that feeds you! 

Do not be lessening your focus and energy from the employer that is paying 100% of your income currently. So that at some time in the indeterminate future you might have an income from said side-gig.

2) Don’t let go of one branch until you are holding onto another branch. 

Do not be one of the many people who think if they quit their job and focus 100% on their passion, that they will miraculously have a financial safety net appear. 

This is a terrible move! Many people have fallen flat on their faces attempting this and it is ugly! 

It is especially risky for those of who have dependents (spouses, kids and mortgages).

3) If you are going to jump ship from the corporate then you must be:

a. earning at least what you are currently earning from your current job; and

b. have at least 6 months emergency fund (living expenses) stashed away in an easily accessible high interest savings account.

4) If you hate your job then set a plan and get into actioning the plan to find a new job.

5) If you are young and have no commitments then rule (2) is more flexible. 

You have time to have a dip and make some mistakes without causing yourself too much damage because even if you don’t succeed you will learn some valuable skills and lessons in the process

So that’s my bugbear about the side hustle movement.

Confession, obviously I’m a massive side hustler myself. This Blog is part of that hustle, but I never do personal business at work. 

Nor do I sacrifice my energy and focus at work by doing longer hours than I can handle to perform at my peak. 

When I’m at work I am 100% refreshed and dedicated to give my best to my employer, bosses, colleagues and career.

If you are interested in the side hustle, check my post on 8 Badass tips to Hustle Harder!

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The EntreFIneur
The EntreFIneur

EntreFIneur is a passionate frugalist, FI enthusiast, experimenter, ideator and entrepreneur. He's also a family man and when he has time, an active fitness fiend and outdoor hobbyist.

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