Side Hustle

This economy has brought many to their knees. And if you haven’t loss your job already, you are worried that your card is about to be pulled.

I’m not sure what the psychology is, but many of us have side hustles, and for some very different reasons. For some, it’s in case the other shoe drops at work or perhaps an outlet for our creativity. Everyone has that girl who sells Avon or Mary Kay, and a friend who moonlights as a bartender or tax preparer.

But this economy has proven that the side hustle is important and necessary to maintain sanity, balance, and an income stream not dictated by the whims of your boss.

Neal Frankle, a Certified Financial Planner and blogger at The Wealth Pilgrim recently guest posted on Get Rich Slowly on the benefits of starting a side business. The ultimate benefit, as Neal states, gives you a new vantage point from which to live.

That is not to suggest it is easy. And if you want to do it right (so the IRS doesn’t come looking for you), it requires a little research.

As I’ve noted before, blackgirlgrown started off more as a therapeutic endeavor as opposed to a “business.” I was in search of a portal that answered my questions and spoke to my issues as a maturing woman of color. It became a business by default, and then it became incumbent upon me to hear the message.

And indeed, Neal recommends that those looking to start a side business look to their heart:

What is it that you love about what you do now? Can you express that in a side business? My advice is to start by looking in your heart. What are you passionate about? Do you love photography? Is it music? Art? Dance? Cooking? Helping kids with autism? Golfing? Blogging? What work would be the best expression of who you really are?

blackgirlgrown is definitely an expression of who I am, an avid reader and curious George in search of answers to the puzzling journey we call life.

For those of you on the fence, Neal outlines some helpful tips to get started.  They include:

1. getting help
2. connect with mentors, and
3. consider moonlighting to get a feel for it

When it comes to all the legalese that comes with starting your own business, there are volumes of free information available from federal and state government websites. A good start is USA.gov’s guide for the self-employed which features links to all federal government resources and websites.

Good luck!

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