The movement towards “side hustling”, or generating supplementary income through launching and running a business, has been gaining more and more traction in recent years, especially among millennials. These days, either you’re partaking in it yourself, or you know someone who is doing it – people from all walks of life are jumping at the opportunity of being able to “make something out of nothing”. And, with the continued expansion of technology and digital growth, many are capitalizing on their own untapped potential and discovering or innovating ways to make additional money.
Given the allure of being financially self-sufficient, many well-known business magnates and successful investors are stepping out onto public platforms to vocally encourage people to invest in themselves and start “side hustling”. A case in point is serial entrepreneur and engineer Jonathan Kvicky, who continually preaches about the power of having supplemental income streams.
“I think many people had an epiphany once the worldwide COVID-19 pandemic hit and a lot of individuals lost their jobs”, Kvicky says. “People are starting to think twice about being complacent with one primary source of income because they’re beginning to see or experience the risks associated with that. The truth is that the future is unpredictable – and when things like the economy start behaving with more volatility, a side hustle(s) helps to decrease risk and relieve the pressure of uncertainty.”
In addition, studies are showing that the next generation of workers are becoming progressively more discontent with forty or fifty hour work-weeks. Many are considering leaving their employers and using side hustles and the “gig-economy” as a potential full-time alternative – not only to replace their income, but to regain a higher sense of self-worth. Millennials, no doubt, have come to expect much more from their jobs in terms of recognition, opportunities for continued learning, and career progression.
“What people are really looking for nowadays in addition to financial security is a life of meaning and fulfillment. And, if their normal work isn’t providing them with the mental satisfaction they need, many of these people will turn to side hustles in order to fill that void,” states Jonathan. This trend is also surprisingly apparent among high-earning households, as many individuals in upper income brackets engage in side hustles for more discretionary reasons related to pursuing passions, experimenting in other fields, and to help others.
Kvicky, now at the age of thirty-two, has numerous accomplishments under his belt in the world of business and tech, but one of his primary missions has always been to inspire others to strive for their greatest financial potential and freedom. And, one way he has encouraged others to do this is with the side hustle mentality. “Essentially, I want to motivate others to shift from a path of contentment to a path of continual growth and self-investment. I get excited when I’m able to push others to take control of their own financial reins. And many times by doing so, these people are able to find a sense of personal fulfillment at the same time.”
Photography by: Jonathan Kvicky