As an Entrepreneur, Side Hustles Protect My Mental Health

🌈 Abstract

The article discusses the importance of side hustles for entrepreneurs, particularly in the context of the author's own experience starting a marketing agency. It highlights how side hustles can provide financial stability, creative fulfillment, and mental health benefits during the volatile and uncertain journey of entrepreneurship.

🙋 Q&A

[01] The Importance of Side Hustles for Entrepreneurs

1. What are the key benefits of side hustles for entrepreneurs according to the article?

• Provide financial stability and diversify income during uncertain times
• Help manage mental health and stress by lowering financial anxiety
• Allow for creative expression and skill development outside of the main business
• Offer independence and financial stability for marginalized communities
• Help maintain a sense of normalcy and connection during difficult periods

2. How does the author's own experience with a side hustle in 2018 illustrate the value of side hustles?

• The author took on a $250 photography side job in 2018 when his main business was struggling, which allowed him to celebrate Christmas with his family that year.
• This side hustle provided mental health benefits beyond just the financial aspect, helping the author maintain a sense of normalcy and connection during an uncertain time.

3. How does the author argue that traditional advice to "go all in" on one project is outdated in the current business landscape?

• The author notes that the business world has become more volatile due to factors like AI, algorithm changes, and the decline of job security.
• In this context, relying solely on one business venture can be risky, whereas side hustles provide a safety net and diversification of income.
• The author advocates for a balanced approach of focusing on a main business while also pursuing complementary side hustles.

[02] Practical Advice for Starting a Side Hustle

1. What types of side hustles does the author recommend, and why?

• The author suggests side hustles that complement one's professional skills and engage creativity, such as:
  • Crafting and selling products on Etsy
  • Consulting or freelancing in one's field
  • Building a simple SaaS or calculator site
  • Creating and selling educational resources as a teacher
• These types of side hustles allow for skill development and creative expression beyond the main business.

2. How does the author advise managing time and prioritizing side hustles?

• The author sets strict limits on the time spent on side hustles to ensure they remain supplementary to the main business.
• The author makes occasional exceptions, but generally tries to maintain a clear separation between the side hustles and the core business work.

3. What final encouragement does the author provide for readers to start a side hustle?

• The author strongly encourages readers to start a side hustle, regardless of whether they are trying to start their own business, work in a creative field, or supplement a 9-5 job.
• The author emphasizes the mental health, financial, and creative benefits that side hustles can provide, especially in the volatile and shifting modern business landscape.