Many South Africans are turning to side hustles as a way to earn some extra cash. This has been amplified by the explosion in unemployment and loss of income.
Leana de Beer (in the picture), the CEO of Feenix, an online student crowdfunding platform, says South Africa is seeing greater adoption and acceptance of the “side hustle”.
“The national lockdown changed the game,” says De Beer. “People had a chance to reconnect with hobbies and passion projects, which for quite a few blossomed into side hustles as a way to bring in extra income.”
According to a report by the Henley Business School, 27.5% of South Africans have some sort of side hustle, citing that 71.3% of those did this as a way of supplementing their income.
Choose the right side hustle
The study also found that the culture of the ‘side hustle’ in Africa is driven by innovation, creativity and is firmly rooted in the informal economy. These traits fit in perfectly with the fundamental characteristics of entrepreneurship.
While extra cash is always welcome, side hustles can also cause burnout, debt or even trouble with the law if you aren’t careful. Below are tips when thinking of venturing into the side hustle world.
Think about your skills and interests and try to choose a side hustle that best aligns with these. If you have a niche skill or knowledge, capitalise on that. You also have to bear in mind the commitment that your side hustle will require.
Don’t neglect your 9-5 job
While your side hustle may one day be your primary business, many side hustlers have a 9-to-5 job that provides the bulk of their income right now. You may be tempted to focus most of your energy on growing your side hustle, but if you let your regular job performance suffer, you could lose your primary source of income.
Market your services
If you want your side hustle to grow, you need to spread the word about it to attract new customers. You could start with your own social media outlets. Make business cards you can share with customers. Take advantage of business networking websites or events in your area.