A staggering 55 million people — more than 35% of the U.S. workforce — are now freelancers or contractors, and that number is projected to rise to 43% by 2020. About 44 million people report having some kind of side hustle, and of those who do, 36% say they earn more than $500 a month from it. Entrepreneurship, even in the form of part-time work to complement a traditional day job, can provide a useful hedge against economic uncertainty and a way to develop new skills.
How to Figure Out What Your Side Hustle Should Be
Don’t fall in love with your first idea.
January 05, 2018
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Summary.
Entrepreneurship, even in the form of part-time work to complement a traditional day job, can provide a useful hedge against economic uncertainty and a way to develop new skills. But the sticking point for many is figuring out what your side venture should be. To get started, consider a range of ideas, and don’t fall in love with the first thing you think of. Figure out what you’re uniquely qualified to offer. Test it with customers before you quit your day job (and maybe don’t quit your day job at all). Invest in skill-building in the beginning, and focus on just one channel at a time.
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HBR Learning
HBR Learning
Career Management Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Career Management. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
What's your next career move? Learn how to set yourself up for success.