Don't Start a Side Hustle: Cycle of Entrepreneur

5 Reasons Why You Shouldn’t Start a Side Hustle

A side hustle is a great way to make some extra money, but it’s not for everyone. Before you quit your day job and start your own business, ask yourself if you’re really cut out for entrepreneurship. Keep reading for the five signs that you shouldn’t start a side hustle.

You Value Your Free Time

It’s the weekend! Are you heading out with friends? How about a weeknight? Would nothing take you away from a good movie night on the couch? 

If you love your free-time, starting a side hustle may not be for you. When you’re self-employed, there is no such thing as weekends or vacation days (or even sick days!) – you work when you need to in order to get the job done. Even if that means missing: a night out, a concert with friends or a weekend getaway. 

Is this starting to sound a bit lonely? That’s because it can be (at times)! And that’s why it’s so important that if you do launch a side hustle – it’s something that you love to do!

Risk-Aversion is Your Middle Name

Start ups usually require some investment upfront to get your idea off the ground. This can be a difficult pill to swallow. You could lose some (or all) of your investment if your business doesn’t take off.

What Does It Cost to Start a Business?

The answer to this question depends on the business you want to start. Are you starting an online business? Then your costs may be fairly low – you could get started for less than $100. 

Low cost start-up businesses include: blogs, drop-shipping, selling ebooks and online courses. Costs associated with these businesses are hosting fees, a domain name and other software you need to get started. But these costs are often offset by revenue fairly quickly. You’ll also need to invest your time. Of course, even if you’re starting a low-cost online business – there’s still no guarantee that it will be successful. You could put in months (or years) of work with no results.

If you’re starting a more traditional business, your costs will be higher. These business include brick-and-mortar store, service business or product-based business. You’ll need to factor in the cost of inventory, equipment, signage, marketing and more. The investment cost to starting these businesses can be thousands to tens of thousands. 

If you are risk-averse, you can check out Forbes for 4 Real-Life Tips For Risk-Averse Entrepreneurs In Search Of Proven Business Ideas

Staying Motivated is a Challenge

Entrepreneurs are self-starters. They have to be – there’s no one else to do the work for them!

Running a side-hustle requires you to set goals. And then it takes laser focus and dedication to achieve those goals. If you’re someone who struggles with procrastination or has trouble completing projects, a side hustle may not be the right fit.

Of course, there are ways to improve your motivation and time-management skills! After all, no ones is perfect. But it’s important to be realistic about your weaknesses and whether or not you’re willing to put in the work to improve them.

Stress & Pressure Cause You Burnout

Our forth reason why you shouldn’t start a side hustle – working a side-job or side-hustle is no walk in the park. Late nights and early mornings can take a toll on your well-being. Even getting a restful sleep can be difficult if you tend to lay awake at night, thinking about all the things you need to do for your business.

The ups and downs of a business can be hard to stomach if you’re not the type that enjoys a little bit of chaos in their life. Entrepreneurs can go from celebrating a sale one day to wondering why their sales are down the next. 

Emotional Roller Coster of an Entrepreneur
Emotional Roller Coster of an Entrepreneur: Inspired by entrepreneur Derek Halpern, displays the the many ups and downs of an entrepreneur, which can be difficult to handle if you’re not prepared for it.

And what about customer service? If your side-hustle involves customer service (most do!), you’re also likely to deal with more than your fair share of difficult people. There may be questions you need to answer, relationships to build, order errors to correct, refunds to process and more. For the most part, humans are kind and understanding if you handle things with grace and professionalism. But there will always be a small handful of people that are impossible to please – no matter what you do!

Expenses and revenue are another source of stress for entrepreneurs. If you’re not used to managing your own finances, it can be difficult to keep track of expenses and make sure you’re bringing in enough revenue to cover them (and then some!). 

If any of this sounds familiar, it’s probably best to steer clear of starting a side hustle. Your mental and physical health should always come first – and if working on a side hustle is going to jeopardize that, it’s just not worth it.

Take some time for yourself before deciding to start a side hustle and make sure that you have enough self-care rituals in place to help you manage any additional stress.

Family Commitments Are a Priority

Juggling work and family can be a challenge for just about anyone. Do you ever feel guilty about balancing work and family life? You’re not alone.

As kids get older, their activities and schedules can become more demanding. As a working parent, it can be difficult to find time for everything – let alone starting a side hustle on top of it all.

The thing is, when you’re running a business, there are going to be times when work has to come first. That doesn’t mean you have to sacrifice your family life, but it does mean that you need to be realistic about the time commitments involved in starting and running a business.

If you’re not sure you can handle the extra work – it’s probably best that you shouldn’t start a side hustle until your family obligations are less demanding.

If any of these five points resonate with you, then starting a side hustle may not be the right move. That’s okay! If you’re risk-averse, don’t like change, or have a family to support, you might want to think twice before starting your own business. Entrepreneurship is not for the faint of heart — it takes hard work, dedication, and a willingness to face challenges head-on. There are plenty of other ways to make extra money without starting your own business.

Similar Posts