Mila Joshua Yona
The education system doesn’t only educate but also prepares people for the job market. A job provides a sense of security for one to meet all their wants and needs.
Although this is one of the advantages, there is a huge detriment that comes with being an employee.
Therefore, one needs to be open-minded enough to not only look at the job as a sense of security but a process of self-independence.
You can do this by finding a side hustle that will work as your investment.
Therefore, in this article, we share insight on why you need a side no matter if you’re employed.
1. It backs you up during emergencies
Have you ever faced uncertainties and risks only to wish you had a superhero that can save you from the situation you’re going through? Well when you suddenly get fired from a job, those moments happen.
A side hustle will work as your superhero in such moments where your income stream is cut short as you search for another job.
It will also save you the stress and anxiety of being unemployed and having an emergency at hand like sickness of your child or anything that might turn-up unexpected.
2. You get to have a steady income stream
Side gigs are investments. When you have an income stream aside from your job, it will increase your portfolio because you will not be reliant on your job alone.
You will be employing people who will be working for you and in the process, your project will keep expanding and growing.
3. You’re replaceable
In the employment world, everyone is replaceable. That’s why the human resource department exists. To recruit fresh blood into the system.
Therefore having a side gig will save you the nervousness that comes when you get replaced at your job.
Also Read: How ring-fenced jobs are affecting the youths today
4. You get to have favor when acquiring a loan
When you have the necessary documentation from your business enterprises, you can use this as security to acquire a loan to facilitate your projects.
This is because financial institutions will trust you based on the credibility of your investments.
5. It allows personal development
Side gigs don’t only back you up but they also improve your standards of living. Incomes that come from them can help you to create more income streams and grow rapidly.
Differentiate between liabilities and assets and concentrate on assets that will allow you to develop yourself pretty quickly.
6. It’s a road map to entrepreneurship
When you establish a side gig, you become self-employed. But by the fact that you employ people who run the business for you, you become an entrepreneur.
You need to establish structures that will allow the business to run itself without your physical presence.
That way your side gig will become a going concern
Finally, are you thinking of starting something up along your full-time job? Share with us what moves you.
