In an economy where 29% of the workforce has a second job, it can be tempting to earn some extra cash by working a side hustle. After all, having a side gig can help you achieve financial freedom, retire early, or even explore your hobbies.
These are all great reasons why you should start your side hustle. But before you dive in, you may want to consider how a side hustle can affect your job.
When 43% of those who have a side hustle also work full time, there is little time after a 40 hour a week job to work a side hustle. With limited time, it can be challenging to focus on either of your jobs.
That is why it is so important to make sure you can handle the workload and are not breaking any rules by taking on extra work.
Here are the top 6 ways Your Side Hustle Could Hurt Your Career. Also, reasons you should consider when thinking of how side hustles can affect your career.
1. Side Hustle Could Hurt Your Career – It may be against company policy
The first thing you should check when considering a side hustle is your employment contract. Some employers may require you to sign non-compete clauses when you start employment. A Non-compete cause states that you can not work for a competitor. The non-compete clause can also extend beyond your employment for a certain period of time.
Another restrictive clause that can be found in your employment contract is a non-disclosure agreement. A non-disclosure agreement is a confidentiality agreement that restricts your ability to take their company’s information to another company or profit off giving out their secrets.
It is important to read up on your employment contract to make sure you would not break any policies by taking on a second job. Even if there isn’t a non-compete clause or a non-disclosure agreement, there may be something else that would allow them to control whether you are allowed to have a second job.
2. Ways Your Side Hustle Could Hurt Your Career – Steal Work Time to Side Hustles – Time Management
You must put time and energy into anything successful, and that includes side hustles. Once your gain more business with your side hustle, you will need to spend more time completing orders, organizing the business structure, and replying to clients.
With additional business, you may be tempted to utilize time at work for your side hustle. Especially if there is some downtime.
Make sure to resist these temptations since it is highly unethical to use the time that you are being paid to do your job for your side hustle. If you do give in to these temptations, it is very possible that you will get caught. It is very easy to get confused and send the wrong email to your employer instead of a client or accidentally leave your work out in a public space.
Some employers also keep track of employee emails, computers, and accounts and can find you have been working on your side hustle during paid hours.
3. Ways Your Side Hustle Could Hurt Your Career – You Could be using overtime for side hustles jobs
Full-time jobs are typically between 35 to 45 hours a week, yet sometimes there is still a need to work overtime. Between your normal work hours and overtime hours, it can be challenging to run your side hustle. Especially since you will have to prioritize your main career over your side hustle.
Even if you plan on eventually making the side hustle your primary source of income. Spending your time working your side hustles instead of working overtime is an overlooked aspect of how side hustles can affect your job, but it is still an important one to consider.
4. Productivity is affected due to a Side Hustle Gig
As an employee, you need to be consistently on top of your game. Your employer expects you to come to work well-rested and with a clear mind. If you are too busy spending nights working on your side hustle, you may be too tired to perform well at your actual day job. This could lead to lower productivity and poor quality work.
Another important aspect to consider is that you may be distracted at work because of issues with your side hustle. For example, if you have an unhappy client who is constantly contacting you or have an issue with shipments or logistics in your side hustle, it could affect your productivity at work.
Instead of being completely focused on the task you are paid to handle, you may find yourself thinking about how to advance or improve your side hustle.
5. Ways Your Side Hustle Could Hurt Your Career – Affects Your Reputation
Side hustles are increasingly common among younger generations. They can be seen as entrepreneurial and show a level of confidence and risk-taking. But before you dive right in, you may want to consider how it affects your reputation.
There are specific side jobs that may ruin your personal brand at your main job, so you must be careful to make sure you appear professional on all fronts. For example, if you work in a corporate law office as your main job, you may not want to be involved in anything that may seem promiscuous or risky.
If you are selling something as your side hustle, make sure you do not ask people from the office to purchase things from you.
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6. Side Hustle Could Hurt Your Career – Easy to Get Burned Out on Both Jobs
Burnouts are common when starting a new business, especially if you already have a full-time job. Getting burned out can be harmful to your mental and physical health, and it is often not worth the extra money you may earn on the side.
If you absolutely need to start a side hustle, make sure you have time to yourself so that you can spend time with your friends and family and do the things you love.
Conflict of interest.
Working for another employer in the same field like banking, insurance, mortgages is a huge conflict of interest with your main employer.
For instance, if you work as a financial advisor at a bank. Your employer will be very concerned that it puts you in a position to steal business if I start selling mutual funds as an independent agent side. It is a conflict of interest as it will be viewed as competing with the employer for business and you will take clients away from it.
Ensure you work during your main gig’s time off or after clocking off. Refrain from doing it when clocked in with your main employer.
Review your employer’s policy. Know your company policy before signing up for a side gig.
It’s easy to get burned out if you don’t plan well and have some days off to rest, recharge and prevent you from burning out.