A side hustle is most of the time considered as a part time job or freelance side gig that provides you a supplemental income. It is something you are passionate doing, but you get paid for the results or the hours worked. The only difference is that, you have the freedom to decide how much time in a day you want to work and the amount of dollars you like to earn!
Having a side hustle can be a viable option for testing your entrepreneurial self and making it into a full time business later. Often completed outside the hours of the day job, it has the ability to grow a solid customer base that you can use later to select your niche and get into business.
Examples of side hustles are dog walking, being a brand ambassador, house cleaning, general labor, lawn mowing, selling products or coaching. Doing these side hustles can be appealing to people who are highly indebted and wants to get out of debt.
There are many ways a side hustle can help you earn a few extra bucks in a month. Depending on your skills and your family’s interest, you can bring in the kids and show them how to earn a respectable but sizeable income besides what you get from working 9 to 5.
As we all know, making money is now made easier by the internet. You can have your spare room rented on AirBNB for some fast cash or simply manage social media for a contracted monthly fee. Still, the most poopular side gig nowadays is blogging and vlogging.
Training the children can’t be that difficult. Get them to help you when you are just starting out because that is the best time to train your kids about entrepreneurship. This helps the child develop skills like KPIs, analytics, communication and networking.
The invaluable experience can raise awareness about organization, finding solutions and money management. Just keep in mind one thing. You do not have to exert much effort in their learning because kids easily learn by simply watching and listening.
The key to all these is to choose a business that your kids would also be passionate in working so that they would enjoy the experience and be enthusiastic in learning things with you.
Side hustles are the most fun way to introduce basic money skills and other fundamental business techniques to the kids. Side hustles are also the best way to indoctrinate the kids and make them adopt the system or idea into their lives and minds.
Communication and out of the box thinking
One of the building blocks of entrepreneurship is communication. You can help the child learn by coaching them, teaching them to listen and making them figure out solutions on their own.
Even the mere idea of just bringing your kid and letting them watch what you are doing is already a good training such as going to government offices and processing licenses or going to the bank for a loan something.
My training ground when I was a kid was our small agri business. My mom used to take me to the banks and government offices. I never participated to anything but just watched and listen to everything. Today, I have a good idea about how things are especially when dealing with banks and the government offices.
How children learn by witnessing and simply listening is quite amazing. The immediate social environment has a lot to do in molding the behavior and the minds of the children. In fact, the children are active listeners who perform today with assistance and perform tomorrow with solid independence.
Increase competence and knowledge
The early predisposition to learn about the business raises the child’s competence and knowledge. The adults are always teaching children about something, which determines the principles and practices they follow in life.
The key is detail and organization. Highlight the importance of organization and being keen to details. Motivate the children to listen and find solutions on their own as well as to accommodate special requests when needed.
It is inspiring to see parents and children taking the side hustle to the next big step, which is making it as a full time business. The difference in generational insights and mindset can be good for partnership in the business.
Open communication and clear instructions are key. The child can learn the art of delegation as well as know the consequence of not following what you said, including how to fix wrong options made.
When parents and children go into business together, it changes the level of relationship they have. At home, a child would always be listening to the parents and following the instructions of the parents. In business, a parent gives the child a chance to voice his thoughts and learn from his mistakes by fixing it.
Build stronger relationships
With business, it would feel like you always have each other’s back. The hours spent together and the involvement often elevates personal relationships, which is most likely focused more on communication.
Children are getting respected as partners in the business and parents start to listen to their suggestion as well. The interaction and engagement in any discussion is very motivating in a way that will make the children spend more time and attention to the business or matter on hand.
This is the only time that the two of you gets to interact in a way that is never done within the perimeters of your home. Indeed, it is true that family relationships make incredible business partners.
Family dynamics at times may mean heightened confrontation but highest form of loyalty. Parents and children are willing to go the extra mile in meeting the challenges of the business.
The enthusiasm that a hands-on approach brings would almost always make the children think that their parents need their expertise, if any, to help them make strategic decisions in growing the business.
Although parents still retain a degree of control when it comes to decision making, it would be wise to let the children take the wheel at times and see how they are going to decide on certain area of the business just so you know their strengths and weaknesses.
Parents act as expert mentors towards their children and they would always shield them from harm. One thing that would be quite a challenge here it the thought of directing the child’s behavior to carve out and shape a businessman’s thought processes.
Children have been known to always do the opposite so make sure the collaborative effort is really a collaboration. Entrepreneurship teaches the child financial literacy and differentiating the difference between wants and needs.
While the idea of easily rectifying mistakes made by children can be stressful, it is good to let them make some money mistakes so it would teach them the cost of spending on unnecessary items. Entrepreneurship teaches children many things and the learning process is never ending!