What is a side hustle?
A side hustle is a job or a freelance gig (or a set of freelance gigs) a person manages part-time during off hours from his or her full-time job. If your full-time job is your 9-to-5 job (as in 9am to 5pm), then your side hustle job is your nights-and-weekends job.
Types of side hustles
Common side hustle ideas in 2019 include:
- Creating a niche website, similar to what’s expertly covered by Authority Hacker and Niche Pursuits
- Building up your own digital marketing or consulting agency
- Developing a technology or software startup (for instance, Mailchimp began as a side hustle)
- Freelancing as a virtual assistant
- Selling items and products on eBay, Craigslist, Poshmark, or Amazon
- Starting up a small business in a niche field
Why do people start side hustles?
People take on side hustles for a variety of reasons.
- They want to use their free time to make more money because their current jobs don’t pay them enough.
- They want to create their own businesses but want to start off slow before taking a giant leap.
- They like their full-time jobs and the pay but they need to pay off some of their debt.
- They’re passionate about a particular niche field and want it to gain more exposure.
- They like the idea of doing something they love and making additional money from it.
- They’re sick of the rat race and fantasize about hitting it big with a side hustle and retiring early.
- They want to protect themselves financially in case they lose their jobs to technology/AI.
- They find out how much others make as influencers or online marketers and want to follow suit.
The popularity of side hustles in 2019
One might ask why side hustles are more popular than ever. There are many reasons why:
- While wages have increased as of late, they haven’t done so as exponentially as needed. Therefore, most people typically have a full-time job with benefits along with a second job, i.e., a part-time job that functions as a side hustle.
- In addition, the cost of living in some of the most populated cities in the U.S. are reaching sky high limits, which incentivizes Millennials with standard salaries to look for additional income, ideally passive income.
- Culturally we no longer feel an affinity to the companies we work at, leaving more room than ever to explore other opportunities. For instance, the 2019 Deloitte Millennial Survey states that Millennials are “disillusioned with traditional institutions, skeptical of businesses’ motives and pessimistic about economic and social progress.”
- With the job market performing well, people feel as if they can take on the risk of pursuing a side hustle and returning back to the workforce if things don’t work out.