- February 5, 2020 10:00 am
Currently a third of the U.S. workforce is made up of gig workers, and in the last year alone, over 57 million Americans claimed to work some type of freelance job. This trend is expected to become more prevalent, as it is estimated that by 2027, more than 50% of the U.S. workforce will depend on freelance work for their full-time job. A seemingly accurate estimation as currently, 80% of side hustlers work 1–3 jobs at a time. These “serial side hustlers” are changing the workforce landscape as they create new opportunities for themselves rather than depend on a traditional employer.
Whether you are a seasoned serial side hustler or are new to the game, these tips can help you run your businesses and juggle your ever-growing responsibilities.
Serial side hustling can be incredibly rewarding. Working multiple jobs can help your finances, fulfill your passions, and give you skills that can help you perform better within your full-time job. However, serial side hustling does come with its challenges. The hardest part is managing your workload and prioritizing your time. Whether you are a serial side hustler with a day job or are a full-time gig worker, finding the perfect combination of jobs for your life can take time.
The primary reason that full-time workers pursue side gigs is to improve their financial situation. A recent study from Payoneer revealed that the average hourly rate of gig workers is $19 an hour–more than double the national minimum wage in the U.S.–making a side hustle a helpful choice for those in a financial bind. Though side hustling can relieve money issues, it can come at a cost. A few of the primary challenges of having side hustle and a day job are:
While the definition of side hustling is having jobs outside of your full-time job, many have ditched their 9–5 to pursue full-time side hustling. Now
10% of gig workers claim side gigs as their primary income. To master the art of serial side hustling, consider the scalability of every gig you start. For example, instead of just walking dogs, think of ways to start a dog walking company. This way of thinking can help you make more money and take you to new levels of success. A few of the primary challenges are:
Side hustles can range from a time commitment of a few hours a week to more than a full-time job. Almost half of freelancers log 40+ hours per week for their side gigs, so if you have other commitments, a new gig can dramatically change your weekly workload. Before you jump into a new job, take an honest look at your schedule and come up with a game plan for managing your responsibilities.
If you have a marketable skill, a freelancing side gig is a great route to take. Freelancing is extremely scalable and if you are passionate about your work it can be very fulfilling. To attract clients, focus your efforts on an accessible website that features past work, reviews, and contact information. Some freelancing options are:
If you are a hands-on person, adding a side gig in the service industry is a great option. This massive industry has experienced a 5.4% growth over the last five years and it is projected to continue as consumers seek personalized experiences. Some service industry side hustle options are:
Over the last 15 years, smartphones have allowed for an app-based industry to emerge. Now that 81% of Americans have smartphones, services such as food delivery and ride sharing can all be fulfilled with the touch of a finger. Companies like Uber and Postmates have captivated the industry and have provided great side hustle opportunities. Some other app-based side gigs are:
For busy side hustlers who can only squeeze in a few hours in the evenings and on weekends, online gigs are the way to go. Whether you run a blog or fill out surveys for extra cash, there are endless opportunities that can fit any lifestyle. Here are some other online options:
Whether you are a veteran serial side hustler with several gigs or a newbie who is juggling jobs for the first time, the most important thing to do is always look for opportunities to scale into your own company. This mindset can help you turn small opportunities into functioning businesses.
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