First question to ask is…
What is a “side hustle”?
“Side hustle” is the name for the growing trend of kick-starting a personal enterprise or microbusiness in your spare time or away from the day job.
The “side hustle” trend is rapidly increasing in popularity. In the last year, Google Trends show that searches for “side hustle” have increased 138% in the UK and 178% in the USA.
Chris Guillebeau, author of ‘Side Hustle: Build a side business and make extra money - without quitting your day job’ says: “Over the past couple of years I noticed a backlash against entrepreneurial culture – the notion that if you don’t want to be an entrepreneur that something is wrong with you. And at the same time an increase or trend in side hustle – you don’t have to be this quote-on-quote entrepreneur to have a business – you can start it on the side.”
It is a way of generating an additional income and owning an asset.
It enables the hustler to have the expanded flexibility to pursue an interest, hobby or passion and to attain satisfaction from starting their own business. It gives an individual the opportunity to try their skills and experience in an industry or market that may be completely distinct from what they do in their day job.
Incentives for a Side Hustle
There are many reasons for starting a side hustle. Hint: it’s not all about extra income!
- To prove that a concept is viable
- To own your own outcomes
- To create security in your life
- To create another form of income
- Building a following or creating leads before launching
- To own the rules
- Achieving an optimal work-life balance
- The ability to start a business with the financial security of a fixed income
“The side hustle is where we’re going to keep the entrepreneurial gene alive in the UK.”
Speaking about the topic, Emma Jones, founder of Enterprise Nation, and author of ‘Working 5 to 9: How to Start a Successful Business in Your Spare Time’ says: “We’ve seen record start-up rates in the UK over the last couple of years – 2012 was when the UK first hit half a million start-ups in the space of 12 months, last year it was 600,000 people started a limited company.
“Due to various aspects of uncertainty, I do think the start-up rate in the UK is going to dip a little – but I actually think side hustle would be the route out of it.
“When I wrote my book “Working 5 to 9: How to Start a Successful Business in Your Spare Time” – actually 60% of those had started a part-time business had done so with a view to making it a full time business – these people are where we’re going to see the drop off. People want the security of the salary coming in. The side hustle is where we’re going to keep the entrepreneurial gene alive in the UK.”
The Statistics
GoDaddy research reflected these incentives, showing that over 45% of those that had started a side hustle, had started it to develop their passion or hobby.
What else did our research find?
- 1 in 5 British workers are likely to start a “side hustle” alongside their full time job in the next two years,
- 46% of those who started a side hustle are earning up to £500 a month on average from it.
- 45% of Brit workers who currently have a side hustle have not told their employer out of fear of not gaining their support
- In addition, when asked to imagine starting a side hustle while employed elsewhere, over half (54%) of Brit workers would be unlikely to tell their employer.
A Side Hustle Journey, written by Rodney, COO and co-founder of Vensy
“Vensy was imagined halfway across the world in Hong Kong, as a result of our day-to-day mindset being challenged. As university students we had always believed that university was about excelling in our examinations and ultimately securing the best job. In Hong Kong we encountered students who were investing in stock markets, trading arts and valuables, working in startups, all whilst acing their exams!”
“It was during an investment showcase, in the heart of Hong Kong, that our burning desire to create a business was founded. With a new-found sense of momentum, we decided we wanted to do more and to be more.”
“First you must dream, then you must hustle!”
“We aspired to build a business that would revolutionize the sponsorship industry. To achieve this, we had to hustle. This consisted of a lot of lunch-breaks meeting and post-work activities where we would reach out to real-life customers via email and phone calls.
The intention was to find where our gap was in the market and to build a solution to solve it. For 6 months after work we spent our evenings in the nearest Hilton Hotel, working on our Side Hustle.”
Be on the good side of your employer.
Your employer is not your enemy. Transparency is essential whilst working in a full-time job and setting out on your Side-Hustling journey.
Get your name, idea and business out there!
Today, establishing a digital presence is essential to any business. Combining our networking efforts and being technologically-savvy served us well. It enabled us to communicate to our audience who we are and our purpose as a business.
Starting a Side Hustle with GoDaddy
In an increasingly technology driven world, GoDaddy offers side hustlers the opportunity to get a domain name and start creating their own digital presence.
Tools such as GoDaddy’s new website builder are designed for usability, offering flexibility across mobile and social. The website builder offers accessibility for all skills, with easy to use templates and optional extras such as online store.
GoDaddy: Supporting Employees
Stefano Maruzzi, GoDaddy VP for EMEA said: “We’ve been encouraging side hustles for years at GoDaddy – and the results have transformed our business, giving us the highly motivated and engaged workforce we have today. In the last 5 years alone, we’ve supported a number of employees with their entrepreneurial ambitions.”
An Employee Perspective
Side hustler, Camille Simpson has benefitted from GoDaddy’s support of side hustles, and remains an employee a year after starting her events planning business in her spare time.
“GoDaddy is about empowering small businesses and start-ups and that philosophy transposes to our own workforce.”
“I have loved starting my side hustle alongside my day job – it gives me the power to be creative and push the boundaries around a key passion of mine. I always thought you would have to give up your day job to run a business – but this way I’m not totally dependent on either, enjoying the benefits of both ways of working. Working for GoDaddy I have been able to see first-hand the success that customers have had in starting their businesses online, using the tools that we provide.”
