What Is A Side Hustle And How It Differ From A Business
Listen On: Apple Podcast | Google Podcasts | Spotify | Youtube
A side hustle is a side gig that you can take in addition to your primary job to supplement your income instead of taking a second job.
A side hustle is also not a business, as its main goal is not profit but income supplementation. However, a side hustle can be a great way of introducing you to the concept of creating your own economy and financial independence.
It gives you an opportunity to be creative, the flexibility to accommodate other things in your life, and do things the way you want to, and eventually, it can become your primary career or source of income.
In this episode, your host, Bunmi Ajibade, explains what a side hustle is and shares seven ways it’s different from a business. Learn the strategies to turn your side hustle into a business and live the life you desire.
Snapshot of the Key Points from the Episode:
[01:10] What is a side hustle, and how it differs from a business
[02:59] Three steps to turn your hobby into a side hustle or even a business
[04:52] The differences between a side hustle and a business
[05:53] 1: Financial rewards
[06:11] 2: Time investments
[06:54] 3: Financial investment cost
[07:54] 4. Side hustlers can run their businesses at home
[09:19] 5. You can run side hustles alone without requiring extra hands
[09:51] 6. A side hustle can generate profit quicker than a business
[10:22] 7. Commitment Level