82: 8 Reasons to Start a Side Business in 2016

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8 Reasons to Start a Side Business in 2016

As the show continues to attract new listeners, I want to be sure that I am creating content that addresses different aspects of being a sidepreneur.  Over the past few months, I have detailed some aspects of my journey, but realize that not everyone is at the same point in their journey.  In fact, some of you may be completely new to the concept of side hustling.  With the new year, this is something that a lot of people are contemplating and are trying to figure out how to get started.

I am sharing these in no particular order, since we all have different priorities.

1.  It’s Fun – You probably don’t think the word business is synonymous with fun, but when you enjoy what you do, it is.  It is a constructive way to spend your free time and allows you to explore your interests.

2. Find Fulfillment – Over 70% of American workers are disengaged at work.  I believe this is largely due to the fact that they do not find the work that they are doing fulfilling.  While you may enjoy some aspects of your job, most of us have to work within the confines of a job description.  This limits innovation and creativity.

3. Build Your Network – While you may not been in the market for new friends, colleagues or associates, being an entrepreneur is a great way to build your network both personally and professionally.  The Networking Path can help you get started by visiting designthlifeyouwant.com/network

4. Easier Than Ever – Due to advancements in technology, it is easier to start a business now than ever.  You don’t have to rely on bank loans, business plans and investors.  You can start a business with an idea and a laptop.  In addition, there are a ton of free resources available to you like this podcast along with many others.  As a result, you have access to people and the strategies they used to launch their businesses.  You have companies like Start with Hatch which has a program called 1004 specifically for entrepreneurs like us.  startwithhatch.com/dtlyw

5. Finance Your Goals – There may be some of you who enjoy your jobs, but its not enough to finance all of your goals.  Maybe you want to pay off some debt, take a vacation or just save some extra money.  Starting a side business will allow you to generate additional income to help you reach those goals.

6. Diversify Your Income – Having one stream of income is like sitting on a one legged stool.  It lacks stability and that is the last thing you want from a financial perspective.  There is no such thing as job security.  Companies downsize.  Companies merge.  I recently went through my first merger.  While I still have a job, there are some people who don’t.  Having multiple streams of income is one of the smartest decisions you can ever make for you and for your family.

7. Ownership – This side business is yours.  You own it and get to call all of the shots.  While this may not seem like a big deal, it becomes one when you want a decision made.  You get to skip the layers of red tap and pull the trigger.  In addition, a successful business is an asset.  It is something that you can sell or pass down to your children – and you can’t do that with a job.

8. Escaping the cubicle – You would not be listening to this podcast if you didn’t want to escape.  There is something inside of you that has a desire to be more and do more.  By escaping the cubicle you open yourself up to a wealth of opportunities that would otherwise pass you by.

Sponsors

1004 – Visit www.startwithhatch.com/dtlyw

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Discover Your Passion eCourse – Sign Up for the FREE E-Course at www.designthelifeyouwant.com/passions

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