There are many reasons for starting a side business or what I call becoming a “hybrid”. As a hybrid you are an employee and self employed at the same time. Many people start a side business while working full time and later transition into full time self employment. Others get a gig or “side” job to balance out their life as a self-employed professional or business owner.
There are many reasons to remain a hybrid such as a steady paycheck and a more substantial support system… including people that back you up, built in structure and colleagues to collaborate and celebrate with.
In his 1989 management classic The Age of Unreason, author and philosopher Charles Handy coined a term for this perspective. He called it the ‘portfolio life’, referring to the reorganization of careers as portfolios full of different jobs.
In today’s world, more people are interested in having several streams of revenue. In addition to a hobby business, some invest in real estate and either rent them out or flip them for a profit (hopefully!). Others invest in start ups or the stock market.
SIX Really Good Reasons for Starting a Side Business…
- Make More Money! Life tends to come with unexpected expenses. More money can reduce stress and provide peace of mind.
- Do What You Love and also make a little money doing it. I call this a “hobby” business. Later as you get more momentum going it might become your full time business rather than a “side” gig.
- Do Something Totally Different from what you do day to day in your primary job.
- Expand Your Skills and Build Confidence and Self Esteem.
- Meet New People who Share Your Interest or Passion.
- Test The Waters of Business Ownership. Whether you move forward as a business owner or not, you will be better off 🙂
I had several side businesses when I was in my 20’s. In addition to a full time job as a clinical social worker (social workers make less than teachers!), I taught tennis lessons, catered small parties and worked as a brunch chef on Sundays. Those were the days!!!
Thinking about turning your hobby into a small business? Wondering how you might make some money during your retirement? In between jobs and thinking about possibilities? All good reasons to give me a call. Let’s talk!
With lots of love and enthusiasm for entrepreneurial endeavors!
MarGO!
Professional Counselor and Business, Career, Life Coach
404-218-4559
MargoGeller@Gmail.com
www.MargoGeller.com
Sign up on my website for “A Minute With MarGO” to receive my monthly blog posts in your inbox.
