21 May

Exploring different niches – side hustle is a good way to grow

How many times have you heard of stories, how someone left a safe job and went all way in into their passion and it worked good. Do you have the inner hunch to do so as well? Do you wish to burn all ships, so it is a certain win or certain death, as there is no way back. 
In order to take a proper decision how to advance on your path, you need to answer a few questions.

The first question is – have I prepared for that? 

Our human tendency when we make plans for the future is to see things with their best possible outcome. That is fantastic – a healthy dose of optimism and craziness is a good base for wonderful new possibilities. If you don’t have the coals to keep the furnace of your new path though… you might be one of the 90% who learn their lessons the hard way. A new business venture must be seen as being unemployed + being an investor at the same time. So depending on your hard commitments you need to see if you can allow yourself to be in such a situation.

The second question is – how much of a discomfort are you prepared to endure at this stage of your life?

If you are ready for a plunge, you need to be honest with yourself how much you really want it. Because it is going to be tough. If you are in your 20’s it is a good point to be adventurous. Because it is socially OK to be broke, to move in with your parents, to experiment. 

If you are in your 50’s it is a darn good time too. As most of your hard commitments have phased out, eventually you approach the part of your life when you are supposed to retire. But if you are full of energy, that is a great time to go for a dream venture which has gathered a lot of dust on the shelf. If things go belly side up – you just stick to the initial plan and retire. 

The tricky part is when you are in your 30’s and you have a lot going on for you. Then it might be more feasible to start anything you have planned for as a side hustle. Or be ready to take on side hustles along the journey of building your business. That might be a good opportunity to check if your passion can endure when it actually turns into reality.

Which leads to the third question – are you ready to loose your passion for the thing? 

You might have a vision of having a restaurant one day because food is your passion. It might be a good idea to work in a restaurant to see if that is what you really want. I was given advise, that it would be best if we don’t try to turn every passion of ours into a full-blown day-in-day-out business. It might be feasible and more enjoyable to have a food connoisseur club and organize food events once in a while. Same goes for many hobbies, which we dream that one day they might turn into a business – not saying that they can not generate pretty cash, but it is not necessary to wear only one hat in this life. If we do so, that hat will wear off rather quickly. If you are a great photographer, you can easily snap shots on the weekends and start selling them. Once it gains traction and you are all into it – by all means – go BIG. But if you leave a corporate job and find yourself in a not so well working studio feeling even more depressed because you have created your own cage, it defeats the purpose.

As a conclusion I would say, our mind is way more creative when we have the base of the Maslow’s pyramid needs covered. To add playfulness and creativity we need to have security first.

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