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Millennials: Find Your Side Hustle

Whether you’re a millennial, where side hustling is part of your culture or an old soul who is lacking fulfillment in life, this article will provide you a path toward finding what you need. There’s several reasons that have contributed to the recent increase. Old school industries and the mismanagement of Millennials has failed to keep us engaged at the workplace. Don’t include tech in this category, more specifically sectors that are operating the same way they did when your boss started in 1974. Second, small financial incentives won’t keep a young person around. A 2% living increase won’t exactly keep us loyal. That being said, Millennials don’t just work for money, we work for purpose. You might also feel the need to learn new skills for fear of becoming irrelevant. If your job isn’t investing in you, the rapid pace of technology has forced us to go a bit rogue.

“A side hustle is a way to make extra money to pursue either your passion or new skills, without quitting your day job”

The first time I was exposed to the psychology of managing was reading Donny Deutsch’s “Often Wrong and Never In Doubt” as a teenager. He had a chapter dedicated to how he managed to the personality rather than to the department. His point was to identify the main driver in a person. Maybe Tom is more entrepreneurial, let’s give his some autonomy. Jane just wants to be told what to get done, let’s give her a list of 10 things to get done today. Bob might need a carrot dangled in front of his face. Millennials will walk if personalized motivation is not employed.

Older generations had amazing benefits! Who needs a side hustle when you’re promised a pension? While only 4 % of workers are enrolled in a pension plan, millennials are given self funded retirement accounts that can follow them from job to job. Another reason for us to take a hike.

“The percentage of workers in the private sector whose only retirement account is a defined benefit pension plan is now 4%, down from 60% in the early 1980s. About 14% of companies offer a combination of both types.”

Maybe its because we saw what was at the end of the line for the generation before us or maybe its because we have more choices due to technology but millennials have realized that you actually can do what you love and get paid for it. So how can you find your side hustle? Here’s a couple different avenues for you to explore.

Maybe its because we saw what was at the end of the line for the generation before us or maybe its because we have more choices due to technology but millennials have realized that you actually can do what you love and get paid for it. So how can you find your side hustle? Here’s a couple different avenues for you to explore.

First, have clear goals and clarity as to what and how much you want, monetarily speaking. Depending on what your goals are, your process will be different. If you’re looking to save an extra $300 a month, you should know how you can add value to the world right away. Think about what you have a lifetime of experience in. If your an accountant, do some tax returns at $150 a pop. Know how to work out? Charge $50 an hour to workout with a client. Do the math and know exactly how many people you need to achieve your goals. Maybe you’re looking for a career change. If that is the case, work for free or very low pay to gain the skills you can leverage in the future. Know what you want.

Second, your side hustle may be your passion and purpose. Maybe you’re into a sport or activity you’ve developed a passion for. Are you a former baseball player? Okay, adult leagues or coaching a high school team are options. Private lessons for little league may fulfill you. Into nutrition? Start a blog or begin the process of getting certified. The accumulation of your blog posts can turn into a book or a possible writing opportunity. Just make sure you enjoy the journey. The stories that you’ll have from such an experience can add value to your present and future relationships (business or personal.)

Third, hustle by paying it forward. This point is for those who have been fortunate to achieve your goals. What now? As human beings, we need growth to feel alive inside. It’s common to have a mom feel like something is missing when her kids leave the house or for a young person to feel depressed when achieving greatness quickly. At this point, paying it forward may be an option. Teach, volunteer, and be charitable with your talents. This can be very rewarding. Good coaches and mentors take losses harder than the players do. They pour their hearts and souls into their craft.

Take advice often but take it with a grain of salt. Though we may respect our elders and our mentors, let’s make sure that we are not living today by the rules of a past generation. Use principles rather than specific strategies. Most importantly, side hustling can be used to anticipate changes in your industry. Continually learn new and relevant skills. Don’t get complacent in your current situation. Keep hustling!

Eric Estevez
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