In our younger years, we imagine a future where we are famous actresses, artists, or entrepreneurs in global businesses. However, in no time, those dreams are cast aside as we face the harsh reality of life, working to make ends meet. The majority of employed people working a 9 to 5 job have side hustles. With a booming economy and global recession due to the COVID 19 pandemic, it only makes sense to have multiple income streams.
But while we think of having this kind of setup be a good thing, there are some situations where having a side hustle can actually hurt you. Worse, you may not even realize it, focusing more on the upsides of owning a side hustle or business than consider the actual costs associated to a business.
You Find Yourself Cutting Work Time
Most side hustles start as a hobby before you decide to make money from it. Say you really enjoy tinkering with cars. You could easily turn that hobby into a car dent repair store or body shop. Something like on the surface is something that has the potential to earn you a substantial amount of money if you’re willing to work on making it successful.
But what people don’t mention with side hustles is that they take away time from other things. Life is a long list of priorities and sacrifices in a sense. And by working on this side business, you can find yourself cutting time from other parts of life – namely your time spent on your current job. That creates ripple effects
First you’ll find your day job to be cumbersome having to spend 8 hours every day on it when you could be focusing on your side hustle. You could easily develop the habit of using vacation time or not show up to work at all to spend the day focusing on your business.
And to an extreme case, you may prioritize your side hustle so much that it could lead you to lose your job, cutting you off of your main source of income.
A Side Hustle Is Against Your Company’s Policy
Depending on the company you work for, an employment contract could prohibit you from having a side hustle. Some company policies require you to sign a non-compete clause when you take on the job. Disregarding these policies means you have to be discreet to avoid job termination. However, a wrong move could attract your employer’s attention and bring about legal action or joblessness on your end.
To avoid hurting your career, review your company’s policies to prevent direct conflict regarding a second job and keep you on good terms with your employer.
You Experience Pressure From Work And Your Side Hustle
A full-time job may require you to work 40 hours or more in a week. Having a side hustle adds to those hours and can have you working during nighttime and weekends to make it successful. Although your current workplace has flexible working hours, an additional job can create pressure from both ends. Additionally, while having more than one job is seen as a measure of financial security, keeping up with career deadlines and a side hustle can lead to serious burnout.
You’re Working Overtime But Getting No Results
The internet has a way of painting side hustles as glamorous ventures. When you hear success stories on social media, it is tempting to venture into those careers, hoping you’ll make it. You end up working long hours, and if you haven’t checked ibuyireview.com for online scams, you could be breaking your back and achieving no results.
Success doesn’t happen overnight, and sadly, many side hustles may end up being pyramid schemes that seldom live up to your dream. There are higher numbers of failed stories that you will never hear of than successful ones because it is challenging to be a jack of all trades.
Although side hustles offer an option of making extra income, they can also take away the stability of a full-time career. If you decide to turn your hobby into a business while working a 9 to 5 job, the pressure may kill your passion. You end up going against company policy and taking time off to work on your side gig by giving excuses. In the long-run, you hurt yourself and your career, especially if you go into it without the proper research.