Per a recent 2024 study conducted by Market Watch News, 54% of Americans have a side hustle. The “why” behind the motive for these side hustles varies, from Americans needing to bolster their savings accounts, supplement the income from their day jobs, or a combination of the two; or perhaps the side hustle was birthed out of a longtime hobby or innovative idea, on the cusp of premiering on Shark Tank (shout out to the Scrub Daddy sitting in your sink, anyone?).
Test your side hustle knowledge
If you’re looking to join the ranks of those who traded in their day jobs for a fulfilling and rewarding hustle turned business or empire, Test Your Knowledge with this quiz to learn the strategies and methods that got these individuals to that point. With that knowledge in hand, use it as a launching pad to take the leap towards the outlet that truly excites and motivates you. You’ll probably wish you had done it sooner!
A gateway to something bigger
Regardless of the reason or reasons we pursue them, side hustles are called “side hustles” for a reason. They may be the most exciting and enjoyable contributions to our incomes, but they are more often than not second in line time-wise to our 9-to-5 day jobs. Side hustles can often feel like the ultimate tease of the saying, “You can’t have your cake and eat it too.” But as many intelligent and successful business owners will tell you, their great ideas often started as a one or two-man job in their garage or shed. While they were tinkering in their workspace at night or recipe testing in their kitchen, most of them still woke up at 7 in the morning, put on a suit, and commuted to their offices (or threw on sweatpants and trudged over to their desk down the hall at home, but you get the idea!).
The success stories of such business owners who followed this template lend to many extremely wise and calculated strategies that any individual looking to make their side hustle their “main hustle” can follow. Although there isn’t any one-size-fits-all way to scale up your side hustle, there are some protective measures that, if heeded, can help a side hustler withstand any inevitable obstacles, particularly financial ones. In the meantime, clearance holders should be careful. Be sure you mind your are forthright about any and all business ventures – both to the IRS and your security officer.
