"You don't want to have a conversation with your boss about something you're feeling out if it's going to fizzle in a couple of months." But if your side hustle is already a thriving business, you should mention it right away, she said. When it comes to figuring out what to say, don't divulge more than you need to.
It's best to be open and honest about your activities. Better to err on the side of caution and proactively bring it up, even if your employee handbook doesn't require disclosure. Consider scheduling a meeting with your boss rather than popping in for a quick informal conversation.
“It depends on the nature of the side hustle. For example, if it involves being an Uber driver, an online merchant or owning an independent business (outside of the field one is employed in), then the whole world doesn't need to know.
Telling your employer
While there is no legal obligation to tell the employer if you are running your own business, but there may well be a clause in the Contract of Employment requiring the employee to declare any other work.
On the positive side, telling your boss about difficult circumstances gives your manager insight into what might be impacting your work performance. However, there's a risk that disclosing financial problems could change how your bosses perceive your ability to do your job.
Many people would find that phrase to be quite rude and offensive in nature. However sometimes people do overstep their boundaries and there is nothing wrong with politely saying you aren't comfortable talking about a certain topic.
It gives you mental stability and satisfaction
It is great to be in the company of others but you can't (and shouldn't) depend on others to make you feel better. The ability to enjoy your own company is related to happiness and personal satisfaction.
Ultimately, you have to do what works best for you. Having your business be a side hustle doesn't mean it's not a viable and meaningful business. And it definitely doesn't mean that you aren't pursuing your dreams, it means that you're doing what you need to do in order to pursue your dreams.
Side hustles can be a great way to make money. They're usually done alongside a full-time job. But you could have one as a part-time job, or have multiple side hustles supplying all your income. We're helping you choose the best side hustles for you based on your interests, skills, and availability.
Desperation to leave a job shouldn't be your motivation for creating your own business. Instead, you should save financially for, at minimum, a 6-12 month runway to not have a salary. But even more importantly, you need a vetted business idea, plan, and product market fit before going it alone.
In most cases, you don't have any obligation to tell anyone at your current job that you're taking a second job opportunity. However, we suggest you remove any possible misunderstandings between you and the company in the future by being as transparent as possible.
“Side job” and “side gig” are often used synonymously with “side hustle.” Many people often use the term freelancing in place of side hustle too, but they're not quite the same thing. Freelancing can be a side hustle, but it can also be a full-time career.
If you know for sure you want to change your focus, a side hustle can be a good way to start something fresh while you maintain the stability of your current employment. It can also be a strategy for career cushioning in case you're questioning your job security.
The most common reasons small businesses fail include a lack of capital or funding, retaining an inadequate management team, a faulty infrastructure or business model, and unsuccessful marketing initiatives.
SBA's Table of Size Standards provides definitions for North American Industry Classification System (NAICS) codes, that vary widely by industry, revenue and employment. It defines small business by firm revenue (ranging from $1 million to over $40 million) and by employment (from 100 to over 1,500 employees).
Now these two phrases: it's none of your business and mind your own business are slightly rude when said directly to the person. So this is something you only want to use with very good friends or perhaps a rude stranger who is making personal enquiries.
Aspiring entrepreneurs often face this difficult decision early in the life of their startup. Letting people know about your business idea is a great way to conduct primary research on the demand and appeal of the idea. Likewise, there may be a strategic advantage to disclosing your idea later in the development stage.
If you know your manager is understanding, non-judgemental and you feel comfortable speaking to them about your life outside of work regularly they are more likely willing to chat when you need to talk about something personal.
Talking about our struggles is important because it helps to create an open and honest work environment. People feel more comfortable talking about their struggles when they know their work environment is supportive, too.