April 3, 2020 All Things Fintech in Africa

Read These Pros and Cons First If You Have or Are Thinking of Starting a Side Hustle In Nigeria

Read These Pros and Cons First If You Have or Are Thinking of Starting a Side Hustle In Nigeria

Call them side hustle, pp or an aside, these activities are usually anything you do outside a primary source of income to earn extra cash. In Nigeria, a side hustle can be anything from photography, makeup, selling clothing items or running a small event planning company.

Asides the obvious extra money, there are other pros as well as cons of having or starting a side hustle. Here are some pointers;

1. A Side Hustle Builds Your Self Esteem

Nothing grows confidence like the feeling of starting out something new. Having a side gig can easily boost your morale since your income now flows from multiple sources and you’re actualizing your dream.

2. It Opens Up Your Creative Side

Your creative side is bound to come alive when you have a side hustle. This is because you’re the marketer, salesman, customer representative, and every other role. Naturally, you’ll want to juggle all the task and this will demand you become more creative with your time and how you handle the tasks.

3. It Can Be A Competitive Advantage

A side hustle can make you have skills that those around you do not have. It will also expose you to connections that will better position you compared to your peers.

4. Building Everything You Need To Start a Business

A side hustle helps you acquire skills like recruiting, finance, record keeping, administration down to customer service – which is all needed when you become a business owner. These skills are acquired and easily transferrable as a work culture template for those your recruit.

Downside

1. Side Hustles Can Guarantee Faster Burnouts

When you are the only person managing everything about your business, it is easy to lose touch, forget to do something or loved ones just because of the demands of the job. If not well managed, a side hustle can cost you your health and time.

2. If Exciting, Work May Get Easily Neglected

Most side hustles are activities that excite their owners. The issue with this is that they can easily conflict with the owner’s main job. It is always advisable that when you feel that the aside gig is intruding into your work life, you step aside from your job or hire new hands to help out with the side gig.

3. Easily Turn Hobbies to Jobs

If like regular side hustlers, your side hustle is closely related to your passion, it may become very easy to turn that passion into something monotonous or job like to the point that you may begin to hate that passion.

There you are, having or launching a side hustle can be very interesting. It comes along with its own attendance good and bad sides. The key is to maintain balance and to know when to quit either job or side hustle depending accordingly.

Page Financials gives quick loans for starting or scaling their side hustle while maintaining their nine to five.

Do you have a side hustle, which of these pros and cons – and any other ones can you share?  

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