In our last post, we discussed that when hospitality professionals are in financial distress either due to not making enough money or a shortage in hours, instead of pursuing another part-time job, would it not be more effective to begin a side hustle?
Hopefully you have read and understood “my story” of how my Human Resources department was eliminated back in 2012 after a I served a reputable and world-class brand in the hospitality industry. From this experience, I learned that in today’s environment, very few organizations have loyalty to its employees and I wish that at that time, I had started a side-hustle. If I did, I could have easily transitioned by side hustle into a full-time job since I would have had the time to take the business to the next level. This is one of my biggest regrets, and something I hope my fellow colleagues and friends learn from my past transgressions.
It’s important to note that a side hustle is not something that is new, but in more recent years as our world economy has become more unstable, the strategies of having a successful side hustle have evolved. Great examples include ride sharing programs such as Uber or Lyft and even Airbnb that have revolutionized the service industry.
The security of a side hustle allows you the opportunity to receive income from multiple sources. Never again will you be dependent on one single pay cheque which provides you with financial freedom. The question now is what is the secret behind starting a side hustle that can provide you with some consistent income.
In our first post on this topic, we suggested you start with answering the following:
- What are you talented at doing?
- What do people come to you for advice for?
- Which industry are you most connected to?
- Is there anything you have been eyeing, that you want to learn more about?
The second part to this process is described below, but can found in more detail in the book “Born for this” by Chris Guillebeau.
As you answer the questions from our first post, from those answers- Choose what truly what makes you happy. Be sure to note this on a new piece of paper either in your note book, vision board etc. Once completed, from that list of what makes you happy, be sure to circle the items where you have the opportunity to practice your most unique skills/strengths. Often when we practice these skills, we enter a state of FLOW which is when we are so immersed into an activity that we lose all sense of time. And finally, from the items you have circled, identify what could be financially feasible… i.e. What could you make money doing? If not, cross it off the list and see what you are left with. What you are left with will equal your Potential Side Hustle. If you are left with more than one option, evaluate the option that you feel speaks to your heart and pursue that as your first option! GOOD LUCK AND KEEP US POSTED ON YOUR PROGRESS.
Please join us in our pursuit to engage all hospitality professionals/organizations in achieving long term fulfilling success by discovering what they are truly meant to do.
We would love to hear your thoughts on our content and would very much appreciate any thoughts and suggestions on future material.
Mohamed Meghji
mohamed@coachmumdoo.com
604-861-4288