What's on my mind? Side Hustles!
Lately I've been seeing a TON of talk about entrepreneurs and side hustles -- how they're the future of the workforce... how they're ruining the workforce... and everything in between.
When you start a business, you NEED team members who have a lot of the entrepreneurial traits that you have. You want employees who are driven, gritty, always on, and will do whatever needs to be done. Your early employees are probably risk-takers. They're placing a bet on YOU and your company to be successful.
This entrepreneurial spirit is something you absolutely want your employees to have in the early days. But those same attributes could lead to challenges down the road. Because these employees are much more likely to want to be an entrepreneur themselves -- and a willingness to put in the work (on the side) to make that dream a reality.
My take on side hustles?
I don't think enough entrepreneurs are willing to embrace and nurture their employees' side hustles.
BUT I also think founders need help navigating the situation when the "side hustle" starts to get in the way of the real hustle -- the job you're paying them to do!!
Here are some thoughts and resources to help you think about Side Hustles in a different way!
Side Hustles... the New Normal?
According to Forbes, 40% of Americans are turning to Side Hustles. Whether it's the need for a 2nd job, window shopping for a new career, or the entrepreneurial spirit - a LOT of people are working side gigs.
From a founder's perspective, there's a lot to consider here. Are you paying enough for your employees to not have to seek out extra work? Does your culture - especially in a remote work environment - promote team dynamics and combat the loneliness that drives people into side gigs?
The key to successful relationships with your employees is to encourage open and honest communication with them about their side hustles. Are they driven by an entrepreneurial spirit? Or are they simply taking advantage of your lack of accountability?
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When Side Hustles Go Right
Here are a few reasons why you should consider nurturing your employees' entrepreneurial dreams.
First up, my friend Ramon Ray. While he worked for the UN, Ramon built a few side hustles himself. His bosses were initially okay with the concept, but later tried to snuff it out. But Ramon was bitten by the entrepreneurial bug! His side gigs got him FIRED from his day job... but let's see how things turned out:
Check out Ramon's full episode for more on his incredible story!
How to handle Side Hustles of all types:
If you're an entrepreneur, you've probably had a few Side Hustle Sams, or will have some in your future. I'd like for you to have a FREE download of my Side Hustle Sam chapter from Who's Your Mike? The No Bullshit Guide to the People You'll Meet on your Entrepreneurial Journey. Check it out and let me know what you think!
Owner at Simple Ads R Us
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Founder & CEO - Trusted Expertise for Interim HR & Recruiting
2 个月Great article Kurt! Gig work and side hustles, I believe, are where the future of work appears to be heading. People are multifaceted, and believing that someone save all their gifts and energy for a sole employer seems limiting, on many levels. Not to mention, the need to have more than one job or source of income for so many is more prevalent than ever. We have to look for ways to protect IP (where it is truly IP), but also embrace creativity, drive and needs of our employees. Love you sharing how supporting employees in their roles outside of your own company is brave and forward thinking. Another reason I encourage those looking for their next career move, or asking me who I know that's hiring, to build a PeopleShowcase.com profile. It's much easier to refer someone who sends you their unique PS URL to share with your network than just their resume.
Software Developer (Backend, DevOps, QA) ???? | Java, Python, or C++, Agile ?? | ex-UWaterloo, NielsenIQ, The Weather Network ? | Coding and Reliability </>
2 个月Kurt, I've tried a few side hustles since 2011, and sadly they've never worked. But I am curious about those, though, and so I got a few questions in mind: - When would be the right time to try out a side hustle or make it a passion out of? - Does it have to be something that works, or can it be something where it lets us follow our passion? - What if a side hustle actually becomes too much or stressful to handle? - When starting off a side hustle, would it be better to try to make it a passion first before you make money off of it? - Who would be the right people to talk to to get help on side hustles?
HR & Talent Operations Enthusiast ? I Drive Client Growth with Strategic Talent Planning? and Tailored Talent Solutions | Bookworm + Baker + Opportunity Matchmaker
2 个月It's refreshing to read about leaders who support side hustles when responsibly managed by the team members engaging in them. After all, like you said, Kurt, it can be a win-win for both parties.